First American Bank of Indian River County - Overview
General
FDIC Certificate #: 25759 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:SouthTrust Bank (#849) Federal Reserve ID: 330837 Date Established: November 19, 1984 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Interstate: No) FDIC's unique #: 17632 Numeric code: 13 Regulator: FED Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: November 19, 1984 Last Structure Change Effective Date: December 11, 1998 Last Structure Change Process Date: Febuary 03, 1999 Last Data Update: Febuary 03, 1999 Data Source Date: April 05, 2012
Location
Address: 4000 20th Street, 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)
Financial Summary
Total assets: $44.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
23Total employees (full-time equivalent)
$44,511Total assets
$2,539Cash and due from depository institutions
$0Interest-bearing balances
$5,550Securities
$4,825Federal funds sold & reverse repurchase agreements
$29,804Net loans & leases
$283Loan loss allowance
$0Trading account assets
$626Bank premises and fixed assets
$504Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$663All other assets
$44,511Total liabilities and capital
$39,871Total liabilities
$39,414Total deposits
$31,206Interest-bearing deposits
$39,414Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$217Other borrowed funds
$0Subordinated debt
$240All other liabilities
$4,640Total equity capital
$4,640Total bank equity capital
$4,640Perpetual preferred stock
$0Common stock
$1,172Surplus
$573Undivided profits
Memoranda
$2,895Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$162Earning assets
$0Long-term assets (5+ years)
$297Average Assets, year-to-date
$40,179Average Assets, quarterly
$953Volatile liabilities
$41,676Insider loans
$42,117FHLB advances
$6,287Loans and leases held for sale
$1,880Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$217Total risk weighted assets
$1,830Total unused commitments
$0Restructured Loans and leases
$30,171Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$3,342Total interest income
$1,343Total interest expense
$1,999Net interest income
$108Provision for loan and lease losses
$235Total noninterest income
$0Fiduciary activities
$161Service charges on deposit accounts
$0Trading account gains & fees
$74Additional noninterest income
$1,579Total noninterest expense
$801Salaries and employee benefits
$219Premises and equipment expense
$559Additional noninterest expense
$547Pre-tax net operating income
-$1Securities gains (losses)
$197Applicable income taxes
$349Income before extraordinary items
$0Extraordinary gains - net
$349Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$93Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.96%Yield on earning assets
3.60%Cost of funding earning assets
5.36%Net interest margin
0.63%Noninterest income to earning assets
4.23%Noninterest expense to earning assets
0.84%Net operating income to assets
0.84%Return on assets (ROA)
1.31%Pretax return on assets
7.88%Return on equity (ROE)
7.88%Retained earnings to average equity (YTD only)
0.32%Net charge-offs to loans
116.13%Credit loss provision to net charge-offs
7.04%Efficiency ratio
70,680Assets per employee
1.94%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.94%Loss allowance to noncurrent loans
174.69%Noncurrent assets plus other real estate owned to assets
1.50%Noncurrent loans to loans
0.54%Net loans and leases to deposits
75.62%Net loans and leases to core deposits
89.97%Equity capital to assets
10.42%Core capital (leverage) ratio
11.13%Tier 1 risk-based capital ratio
15.39%Total risk-based capital ratio
Memoranda
$16Average assets
$41,676Average earning assets
$4,428Average equity
$37,319Average loans
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