FDIC Certificate #: 9619 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Centennial Bank (#11241) Federal Reserve ID: 296438 Date Established: January 01, 1906 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 11 (Interstate: No) FDIC's unique #: 6146 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: July 30, 2010 Last Structure Change Process Date: August 02, 2010 Last Data Update: August 02, 2010 Data Source Date: April 05, 2012
Location
Address: 12141 Panama City Beach Parkway, Panama City Beach, FL 32407 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)
Financial Summary
Total assets: $377.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
109Total employees (full-time equivalent)
$359,769Total assets
$16,024Cash and due from depository institutions
$11,243Interest-bearing balances
$17,676Securities
$976Federal funds sold & reverse repurchase agreements
$279,936Net loans & leases
$12,151Loan loss allowance
$0Trading account assets
$24,115Bank premises and fixed assets
$16,564Other real estate owned
$0Goodwill and other intangibles
$1,586Life insurance assets
$4,478All other assets
$359,769Total liabilities and capital
$350,413Total liabilities
$348,319Total deposits
$328,783Interest-bearing deposits
$348,319Deposits held in domestic offices
91.05%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,094All other liabilities
$9,356Total equity capital
$9,356Total bank equity capital
$9,356Perpetual preferred stock
$0Common stock
$300Surplus
$26,018Undivided profits
Memoranda
$-16,962Noncurrent loans and leases
$9,266Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$49,367Earning assets
$0Long-term assets (5+ years)
$1,386Average Assets, year-to-date
$309,831Average Assets, quarterly
$33,687Volatile liabilities
$371,678Insider loans
$369,884FHLB advances
$105,660Loans and leases held for sale
$6,960Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,974Total risk weighted assets
$9,266Total unused commitments
$22,283Restructured Loans and leases
$3,745Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$18,420Total interest income
$9,410Total interest expense
$9,010Net interest income
$16,102Provision for loan and lease losses
$580Total noninterest income
$0Fiduciary activities
$686Service charges on deposit accounts
$0Trading account gains & fees
-$106Additional noninterest income
$17,258Total noninterest expense
$7,392Salaries and employee benefits
$1,925Premises and equipment expense
$7,941Additional noninterest expense
-$23,770Pre-tax net operating income
$527Securities gains (losses)
$0Applicable income taxes
-$23,243Income before extraordinary items
$0Extraordinary gains - net
-$23,243Net income attributable to bank
$0Net charge-offs
-$23,243Cash dividends
$7,161Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.77%Yield on earning assets
2.95%Cost of funding earning assets
2.82%Net interest margin
0.18%Noninterest income to earning assets
5.41%Noninterest expense to earning assets
-6.40%Net operating income to assets
-6.25%Return on assets (ROA)
-6.25%Pretax return on assets
-90.79%Return on equity (ROE)
-90.79%Retained earnings to average equity (YTD only)
2.39%Net charge-offs to loans
224.86%Credit loss provision to net charge-offs
-1.07%Efficiency ratio
148,196Assets per employee
3.30%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.16%Loss allowance to noncurrent loans
24.61%Noncurrent assets plus other real estate owned to assets
18.33%Noncurrent loans to loans
16.90%Net loans and leases to deposits
80.37%Net loans and leases to core deposits
115.36%Equity capital to assets
2.60%Core capital (leverage) ratio
2.42%Tier 1 risk-based capital ratio
3.17%Total risk-based capital ratio
Memoranda
$4Average assets
$371,678Average earning assets
$25,602Average equity
$319,058Average loans
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