FDIC Certificate #: 34965 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:First Southern Bank (#27044) Federal Reserve ID: 2737029 Date Established: April 21, 1999 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 9 (Interstate: No) FDIC's unique #: 62139 Numeric code: 13 Regulator: FED 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: April 21, 1999 Last Structure Change Effective Date: January 07, 2011 Last Structure Change Process Date: January 10, 2011 Last Data Update: January 10, 2011 Data Source Date: April 05, 2012
Location
Address: 945 South Orange Avenue, Orlando, FL 32806 County: Orange 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): Orlando, FL (#5960) Combined Statistical Area (CSA): Orlando-Deltona-Daytona Beach, FL (#422) Core Based Statistical Area (CBSA): Orlando-Kissimmee-Sanford, FL (#36740) CBSA Metro Statistical Area: Orlando-Kissimmee-Sanford, FL (#36740)
Financial Summary
Total assets: $578.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
85Total employees (full-time equivalent)
$578,638Total assets
$116,294Cash and due from depository institutions
$112,040Interest-bearing balances
$180Securities
$250Federal funds sold & reverse repurchase agreements
$425,116Net loans & leases
$37,000Loan loss allowance
$0Trading account assets
$11,168Bank premises and fixed assets
$15,558Other real estate owned
$0Goodwill and other intangibles
$2,811Life insurance assets
$10,072All other assets
$578,638Total liabilities and capital
$591,750Total liabilities
$537,223Total deposits
$503,463Interest-bearing deposits
$537,223Deposits held in domestic offices
98.27%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$33,500Other borrowed funds
$17,000Subordinated debt
$4,027All other liabilities
$-13,112Total equity capital
$-13,112Total bank equity capital
$-13,112Perpetual preferred stock
$0Common stock
$6,768Surplus
$19,190Undivided profits
Memoranda
$-39,070Noncurrent loans and leases
$10,453Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$117,880Earning assets
$0Long-term assets (5+ years)
$975Average Assets, year-to-date
$537,586Average Assets, quarterly
$2,338Volatile liabilities
$633,511Insider loans
$588,586FHLB advances
$57,179Loans and leases held for sale
$1,909Unused loan commitments
$33,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$10,453Total unused commitments
$21,422Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$22,453Total interest income
$13,600Total interest expense
$8,853Net interest income
$41,212Provision for loan and lease losses
-$3,075Total noninterest income
$0Fiduciary activities
$512Service charges on deposit accounts
$0Trading account gains & fees
-$3,587Additional noninterest income
$13,281Total noninterest expense
$4,705Salaries and employee benefits
$1,214Premises and equipment expense
$7,362Additional noninterest expense
-$48,715Pre-tax net operating income
$449Securities gains (losses)
$4,853Applicable income taxes
-$53,119Income before extraordinary items
$0Extraordinary gains - net
-$53,119Net income attributable to bank
$0Net charge-offs
-$53,119Cash dividends
$17,102Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.91%Yield on earning assets
2.37%Cost of funding earning assets
1.54%Net interest margin
-0.54%Noninterest income to earning assets
2.31%Noninterest expense to earning assets
-8.46%Net operating income to assets
-8.38%Return on assets (ROA)
-7.62%Pretax return on assets
-253.16%Return on equity (ROE)
-253.16%Retained earnings to average equity (YTD only)
3.49%Net charge-offs to loans
240.98%Credit loss provision to net charge-offs
-0.44%Efficiency ratio
229,855Assets per employee
6.81%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
8.01%Loss allowance to noncurrent loans
31.39%Noncurrent assets plus other real estate owned to assets
23.06%Noncurrent loans to loans
25.51%Net loans and leases to deposits
79.13%Net loans and leases to core deposits
83.84%Equity capital to assets
-2.27%Core capital (leverage) ratio
-2.22%Tier 1 risk-based capital ratio
-2.92%Total risk-based capital ratio
Memoranda
-$3Average assets
$633,511Average earning assets
$20,982Average equity
$573,833Average loans
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