Bay Federal Savings Bank in West Palm Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 15, 1994

  • Bay Federal Savings Bank in West Palm Beach, Florida (FL)
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Bay Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 33494
    Status: Inactive
    Closing history: Conservatorship Institution Resolved
    Acquiring institution: Fidelity Federal Bank & Trust (#30614)
    Federal Reserve ID: 40574
    Date Established: September 06, 1991
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 9419
    FDIC's unique #: 47218
    Numeric code: 34
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: September 06, 1991
    Last Structure Change Effective Date: July 15, 1994
    Last Structure Change Process Date: July 18, 1994
    Last Data Update: July 27, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 4674 Forest Hill Boulevard, West Palm Beach, FL 33406
    County: Palm Beach
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: South Florida
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): West Palm Beach-Boca Raton, FL (#8960)
    Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    Core Based Statistical Division: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
  • History of Changes
  • Pass Through Receivership Merger
    Corrections
    Conservatorship Institution Resolved
  • Financial Summary
  • Total assets: $2.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $9Total assets
  • $5,911Cash and due from depository institutions
  • $3,840Interest-bearing balances
  • $3,790Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $652Loan loss allowance
  • $341Trading account assets
  • $0Bank premises and fixed assets
  • $144Other real estate owned
  • $241Goodwill and other intangibles
  • $1,034Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $5,911Total liabilities
  • $18,135Total deposits
  • $17,912Interest-bearing deposits
  • $17,912Deposits held in domestic offices
  • 17912.00%% insured (estimated)
  • $100Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $223Total equity capital
  • $223Total bank equity capital
  • $-12,224Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $-12,224Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $8Earning assets
  • $4,442Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $9,768Average Assets, quarterly
  • $6,860Volatile liabilities
  • $362Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $-12,224Total risk weighted assets
  • $2,787Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $282Total interest expense
  • $1,015Net interest income
  • -$733Provision for loan and lease losses
  • -$688Total noninterest income
  • $455Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $455Total noninterest expense
  • $1,062Salaries and employee benefits
  • $313Premises and equipment expense
  • $288Additional noninterest expense
  • $461Pre-tax net operating income
  • -$652Securities gains (losses)
  • $0Applicable income taxes
  • $0Income before extraordinary items
  • -$652Extraordinary gains - net
  • $0Net income attributable to bank
  • -$652Net charge-offs
  • $217Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 3.56%Cost of funding earning assets
  • 12.81%Net interest margin
  • -9.25%Noninterest income to earning assets
  • 5.74%Noninterest expense to earning assets
  • 13.40%Net operating income to assets
  • -6.68%Return on assets (ROA)
  • -6.68%Pretax return on assets
  • -6.68%Return on equity (ROE)
  • 5.49%Retained earnings to average equity (YTD only)
  • 5.49%Net charge-offs to loans
  • 18.01%Credit loss provision to net charge-offs
  • -317.05%Efficiency ratio
  • -382,014Assets per employee
  • 0.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 34.34%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 4.08%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 3.64%Net loans and leases to core deposits
  • 3.72%Equity capital to assets
  • -206.80%Core capital (leverage) ratio
  • -206.80%Tier 1 risk-based capital ratio
  • -438.61%Total risk-based capital ratio
  • Memoranda
  • -$439Average assets
  • $9,768Average earning assets
  • -$11,875Average equity
  • $7,923Average loans

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