Vision Bank in Panama City, Florida (FL)
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| Vision Bank | |
|---|---|
| General | FDIC Certificate #: 5668 Status: Inactive Federal Reserve ID: 209335 Bank Holding Company (Regulatory Top Holder): Park National Corporation (RSSDID: 1142336, Location: Newark, OH) Date Established: September 16, 1926 WWW: http://www.visionbankfl.net Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 18 (Domestic: 18, Interstate: Yes) FDIC's unique #: 3856 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: Febuary 16, 2012 Last Structure Change Process Date: Febuary 29, 2012 Last Data Update: Febuary 29, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 2200 Stanford Road, Panama City, FL 32405 County: Bay Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Pensacola Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Panama City, FL (#6015) Core Based Statistical Area (CBSA): Panama City-Lynn Haven-Panama City Beach, FL (#37460) CBSA Metro Statistical Area: Panama City-Lynn Haven-Panama City Beach, FL (#37460) |
| History of Changes | Other Liquidations and Closings Office Sold Change in Insurance Status |
| Financial Summary | Total assets: $653.1 mil Equity capital: $111.2 mil Deposits held in domestic offices: $532.5 mil Return on assets (ROA): -3.07% (-$20.0 mil) Quarterly return on assets: -4.64% (-$30.3 mil) Return on Equity (ROE): -19.65% (-$21.8 mil) Quarterly return on equity: -26.88% (-$29.8 mil) Net income: -$22.5 mil Quarterly Net income: -$7.8 mil Pretax return on assets: -3.92% (-$25,599.8 mil) Quarterly Pretax return on assets: -3.53% (-$23,052.9 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 184 |
| Total assets | $653,057 |
| Cash and due from depository institutions | $20,784 |
| Interest-bearing balances | $0 |
| Securities | $101,000 |
| Federal funds sold & reverse repurchase agreements | $17,500 |
| Net loans & leases | $469,038 |
| Loan loss allowance | $23,839 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $16,555 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $1,615 |
| All other assets | $26,565 |
| Life insurance assets | $653,057 |
| Total liabilities and capital | $541,876 |
| Total liabilities | $532,499 |
| Total deposits | $452,604 |
| Interest-bearing deposits | $532,499 |
| Deposits held in domestic offices | $85 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,368 |
| Other borrowed funds | $0 |
| Subordinated debt | $8,009 |
| All other liabilities | $111,181 |
| Total equity capital | $111,181 |
| Total bank equity capital | $111,181 |
| Perpetual preferred stock | $0 |
| Common stock | $116 |
| Surplus | $330,896 |
| Undivided profits | $-219,831 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $5,611 |
| Income earned, not collected on loans | $99,114 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,327 |
| Average Assets, year-to-date | $587,538 |
| Average Assets, quarterly | $84,125 |
| Volatile liabilities | $732,968 |
| Insider loans | $672,750 |
| FHLB advances | $467,842 |
| Loans and leases held for sale | $689,699 |
| Unused loan commitments | $3,450 |
| Tier 1 (core) risk-based capital | $3,450 |
| Tier 2 risk-based capital | $109,566 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $69,785 |
| Derivatives | $4,404 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $31,581 |
| Total interest expense | $4,502 |
| Net interest income | $27,079 |
| Provision for loan and lease losses | $30,833 |
| Total noninterest income | $1,420 |
| Fiduciary activities | $127 |
| Service charges on deposit accounts | $2,088 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$795 |
| Total noninterest expense | $31,597 |
| Salaries and employee benefits | $12,077 |
| Premises and equipment expense | $2,976 |
| Additional noninterest expense | $16,544 |
| Pre-tax net operating income | -$33,931 |
| Securities gains (losses) | $5,195 |
| Applicable income taxes | -$6,210 |
| Income before extraordinary items | -$22,526 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$22,526 |
| Net charge-offs | $0 |
| Cash dividends | -$22,526 |
| Sale, conversion, retirement of capital stock, net | $75,931 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.93% |
| Cost of funding earning assets | 0.70% |
| Net interest margin | 4.23% |
| Noninterest income to earning assets | 0.22% |
| Noninterest expense to earning assets | 4.94% |
| Net operating income to assets | -3.63% |
| Return on assets (ROA) | -3.07% |
| Pretax return on assets | -3.92% |
| Return on equity (ROE) | -19.65% |
| Retained earnings to average equity (YTD only) | -19.65% |
| Net charge-offs to loans | 13.21% |
| Credit loss provision to net charge-offs | 40.61% |
| Efficiency ratio | -0.04% |
| Assets per employee | $100,418 |
| Cash dividends to net income (YTD only) | 3.55% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 4.84% |
| Noncurrent assets plus other real estate owned to assets | 24.05% |
| Noncurrent loans to loans | 15.18% |
| Net loans and leases to deposits | 20.11% |
| Net loans and leases to core deposits | 88.08% |
| Equity capital to assets | 101.18% |
| Core capital (leverage) ratio | 17.02% |
| Tier 1 risk-based capital ratio | 15.89% |
| Total risk-based capital ratio | 23.42% |
| Memoranda | |
| Average assets | $25 |
| Average earning assets | $732,968 |
| Average equity | $114,659 |
| Average loans | $639,950 |
| Total Fiduciary and Related Assets (December 31, 2011) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $17,392 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $17,392 |
| Employee benefit-defined contribution accounts | $15,469 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $1,180 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $743 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 39 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $0 |
| Other fiduciary accounts | $0 |
| Fiduciary accounts held in foreign offices | $0 |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.