FDIC Certificate #: 32918 Status: Inactive Federal Reserve ID: 1445037 Date Established: April 13, 1990 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 6 (Interstate: No) OTS Docket #: 9834 FDIC's unique #: 45832 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: April 13, 1990 Last Structure Change Effective Date: August 15, 2008 Last Structure Change Process Date: August 27, 2008 Last Data Update: August 27, 2008 Data Source Date: April 05, 2012
Location
Address: 1717 Indian River Boulevard, Vero Beach, FL 32960 County: Indian River 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 Combined Statistical Area (CSA): Port St. Lucie-Sebastian-Vero Beach, FL (#442) Core Based Statistical Area (CBSA): Sebastian-Vero Beach, FL (#42680) CBSA Metro Statistical Area: Sebastian-Vero Beach, FL (#42680)
History of Changes
Other Liquidations and Closings
Change in Insurance Status
Office Sold
Financial Summary
Total assets: $116.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2007)
Dollar figures in thousands
35Total employees (full-time equivalent)
$125,304Total assets
$4,778Cash and due from depository institutions
$77Interest-bearing balances
$29,923Securities
$17,181Federal funds sold & reverse repurchase agreements
$69,295Net loans & leases
$1,372Loan loss allowance
$0Trading account assets
$2,390Bank premises and fixed assets
$116Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,621All other assets
$125,304Total liabilities and capital
$104,898Total liabilities
$102,570Total deposits
$82,632Interest-bearing deposits
$102,570Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$201Other borrowed funds
$0Subordinated debt
$2,127All other liabilities
$20,406Total equity capital
$20,406Total bank equity capital
$20,406Perpetual preferred stock
$0Common stock
$2,654Surplus
$17,059Undivided profits
Memoranda
$693Noncurrent loans and leases
$47,273Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,867Earning assets
$0Long-term assets (5+ years)
$553Average Assets, year-to-date
$116,476Average Assets, quarterly
$17,246Volatile liabilities
$129,891Insider loans
$125,399FHLB advances
$24,821Loans and leases held for sale
$3,838Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$47,273Total unused commitments
$0Restructured Loans and leases
$1,156Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$8,433Total interest income
$3,516Total interest expense
$4,917Net interest income
-$339Provision for loan and lease losses
$246Total noninterest income
$0Fiduciary activities
$187Service charges on deposit accounts
$0Trading account gains & fees
$59Additional noninterest income
$5,308Total noninterest expense
$2,028Salaries and employee benefits
$1,064Premises and equipment expense
$2,216Additional noninterest expense
$194Pre-tax net operating income
$0Securities gains (losses)
-$1Applicable income taxes
$195Income before extraordinary items
$0Extraordinary gains - net
$195Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$33Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.95%Yield on earning assets
2.90%Cost of funding earning assets
4.05%Net interest margin
0.20%Noninterest income to earning assets
4.37%Noninterest expense to earning assets
0.15%Net operating income to assets
0.15%Return on assets (ROA)
0.15%Pretax return on assets
0.97%Return on equity (ROE)
0.97%Retained earnings to average equity (YTD only)
0.05%Net charge-offs to loans
-1027.27%Credit loss provision to net charge-offs
-4.39%Efficiency ratio
102,808Assets per employee
3.58%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.94%Loss allowance to noncurrent loans
47.85%Noncurrent assets plus other real estate owned to assets
2.38%Noncurrent loans to loans
4.06%Net loans and leases to deposits
67.56%Net loans and leases to core deposits
88.90%Equity capital to assets
16.29%Core capital (leverage) ratio
16.30%Tier 1 risk-based capital ratio
21.95%Total risk-based capital ratio
Memoranda
$23Average assets
$129,891Average earning assets
$20,080Average equity
$121,422Average loans
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