FDIC Certificate #: 34439 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:BankFIRST (#27550) Federal Reserve ID: 2594428 Bank Holding Company (Regulatory Top Holder): Commercial Bancorp, Inc., The (RSSDID: 2596123, Location: Ormond Beach, FL) Date Established: October 14, 1997 WWW:http://www.eastcoastcommunitybank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 57203 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: October 14, 1997 Last Structure Change Effective Date: January 01, 2012 Last Structure Change Process Date: January 10, 2012 Last Data Update: January 10, 2012 Data Source Date: April 05, 2012
Location
Address: 1240 W. Granada Blvd, Ormond Beach, FL 32174 County: Volusia Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Gainesville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Daytona Beach, FL (#2020) Combined Statistical Area (CSA): Orlando-Deltona-Daytona Beach, FL (#422) Core Based Statistical Area (CBSA): Deltona-Daytona Beach-Ormond Beach, FL (#19660) CBSA Metro Statistical Area: Deltona-Daytona Beach-Ormond Beach, FL (#19660)
Financial Summary
Total assets: $79.5 mil Equity capital: $4.4 mil Deposits held in domestic offices: $72.6 mil Return on assets (ROA): -4.26% (-$3.4 mil) Quarterly return on assets: -10.09% (-$8.1 mil) Return on Equity (ROE): -53.24% (-$2.1 mil) Quarterly return on equity: -147.93% (-$5.9 mil) Net income: -$3.5 mil Quarterly Net income: -$2.0 mil Pretax return on assets: -4.37% (-$3,475.8 mil) Quarterly Pretax return on assets: -6.16% (-$4,899.5 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
17Total employees (full-time equivalent)
$79,538Total assets
$21,168Cash and due from depository institutions
$20,682Interest-bearing balances
$504Securities
$0Federal funds sold & reverse repurchase agreements
$51,095Net loans & leases
$1,629Loan loss allowance
$0Trading account assets
$4,359Bank premises and fixed assets
$36Other real estate owned
$0Goodwill and other intangibles
$79,538Life insurance assets
$2,376All other assets
$75,118Total liabilities and capital
$72,594Total liabilities
$65,457Total deposits
$72,594Interest-bearing deposits
$98Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$2,524Subordinated debt
$4,420All other liabilities
$4,420Total equity capital
$4,420Total bank equity capital
$0Perpetual preferred stock
$4,905Common stock
$4,809Surplus
$-5,294Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,454Income earned, not collected on loans
$0Earning assets
$201Long-term assets (5+ years)
$72,281Average Assets, year-to-date
$4,124Average Assets, quarterly
$82,094Volatile liabilities
$79,972Insider loans
$51,138FHLB advances
$78,826Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$3,157Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$2,262Restructured Loans and leases
$3,384Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$3,952Total interest income
$557Total interest expense
$3,395Net interest income
$4,053Provision for loan and lease losses
$50Total noninterest income
$0Fiduciary activities
$132Service charges on deposit accounts
$0Trading account gains & fees
-$82Additional noninterest income
$3,020Total noninterest expense
$1,199Salaries and employee benefits
$359Premises and equipment expense
$1,462Additional noninterest expense
-$3,628Pre-tax net operating income
$38Securities gains (losses)
-$94Applicable income taxes
-$3,496Income before extraordinary items
$0Extraordinary gains - net
-$3,496Net income attributable to bank
$0Net charge-offs
-$3,496Cash dividends
$4,664Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.32%Yield on earning assets
0.75%Cost of funding earning assets
4.57%Net interest margin
0.07%Noninterest income to earning assets
4.07%Noninterest expense to earning assets
-4.30%Net operating income to assets
-4.26%Return on assets (ROA)
-4.37%Pretax return on assets
-53.24%Return on equity (ROE)
-53.24%Retained earnings to average equity (YTD only)
7.53%Net charge-offs to loans
86.90%Credit loss provision to net charge-offs
0.09%Efficiency ratio
87,663Assets per employee
4.68%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.09%Loss allowance to noncurrent loans
66.38%Noncurrent assets plus other real estate owned to assets
3.13%Noncurrent loans to loans
4.65%Net loans and leases to deposits
70.38%Net loans and leases to core deposits
72.86%Equity capital to assets
5.56%Core capital (leverage) ratio
4.01%Tier 1 risk-based capital ratio
6.17%Total risk-based capital ratio
Memoranda
$7Average assets
$82,094Average earning assets
$6,567Average equity
$74,216Average loans
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