First Commerce Bank of Polk County in Winter Haven, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 1997

First Commerce Bank of Polk County in Winter Haven, Florida (FL)
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First Commerce Bank of Polk County - Overview

General
FDIC Certificate #: 23669
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Colonial Bank (#9609)
Federal Reserve ID: 35431
Date Established: January 29, 1982
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
FDIC's unique #: 16559
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: January 29, 1982
Last Structure Change Effective Date: July 01, 1997
Last Structure Change Process Date: July 28, 1997
Last Data Update: July 28, 1997
Data Source Date: April 05, 2012
Location
Address: 141 Central Avenue East, Winter Haven, FL 33880
County: Polk
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Tampa
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Lakeland-Winter Haven, FL (#3980)
Core Based Statistical Area (CBSA): Lakeland-Winter Haven, FL (#29460)
CBSA Metro Statistical Area: Lakeland-Winter Haven, FL (#29460)
Financial Summary
Total assets: $97.1 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$61Total assets
$105,420Cash and due from depository institutions
$5,762Interest-bearing balances
$0Securities
$21,702Federal funds sold & reverse repurchase agreements
$7,688Net loans & leases
$66,446Loan loss allowance
$1,419Trading account assets
$0Bank premises and fixed assets
$1,302Other real estate owned
$79Goodwill and other intangibles
$2,412Life insurance assets
$29All other assets
$0Total liabilities and capital
$105,420Total liabilities
$96,025Total deposits
$95,635Interest-bearing deposits
$76,796Deposits held in domestic offices
95635.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$390Total equity capital
$390Total bank equity capital
$9,395Perpetual preferred stock
$0Common stock
$1,450Surplus
$3,659Undivided profits
Memoranda
$4,286Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,636Income earned, not collected on loans
$563Earning assets
$95,836Long-term assets (5+ years)
$4,516Average Assets, year-to-date
$108,148Average Assets, quarterly
$104,829Volatile liabilities
$6,777Insider loans
$3,911FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$6,372Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$9,399Total risk weighted assets
$72,718Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$8,919Total interest expense
$3,603Net interest income
$5,316Provision for loan and lease losses
$1,091Total noninterest income
$914Fiduciary activities
$0Service charges on deposit accounts
$726Trading account gains & fees
$0Additional noninterest income
$188Total noninterest expense
$4,864Salaries and employee benefits
$2,382Premises and equipment expense
$774Additional noninterest expense
$1,708Pre-tax net operating income
$275Securities gains (losses)
$2Applicable income taxes
$38Income before extraordinary items
$239Extraordinary gains - net
$0Net income attributable to bank
$239Net charge-offs
$703Cash dividends
$0Sale, conversion, retirement of capital stock, net
$750Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
9.02%Cost of funding earning assets
3.64%Net interest margin
5.38%Noninterest income to earning assets
0.92%Noninterest expense to earning assets
4.92%Net operating income to assets
0.22%Return on assets (ROA)
0.22%Pretax return on assets
0.26%Return on equity (ROE)
2.70%Retained earnings to average equity (YTD only)
2.70%Net charge-offs to loans
1.01%Credit loss provision to net charge-offs
155.19%Efficiency ratio
77,689Assets per employee
1.73%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.09%Loss allowance to noncurrent loans
53.83%Noncurrent assets plus other real estate owned to assets
2.58%Noncurrent loans to loans
3.88%Net loans and leases to deposits
69.48%Net loans and leases to core deposits
74.78%Equity capital to assets
8.91%Core capital (leverage) ratio
8.92%Tier 1 risk-based capital ratio
12.93%Total risk-based capital ratio
Memoranda
$14Average assets
$108,148Average earning assets
$8,840Average equity
$98,868Average loans

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