First Gulf Bank in Gulfport, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 15, 1993

First Gulf Bank in Gulfport, Florida (FL)
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First Gulf Bank - Overview

General
FDIC Certificate #: 26940
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: AmSouth Bank of Florida (#27083)
Federal Reserve ID: 719339
Date Established: April 15, 1987
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
FDIC's unique #: 36339
Numeric code: 21
Regulator: FDIC
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: April 15, 1987
Last Structure Change Effective Date: October 15, 1993
Last Structure Change Process Date: November 03, 1993
Last Data Update: November 03, 1993
Data Source Date: April 05, 2012
Location
Address: 5728 Gulfport Boulevard, Gulfport, FL 33707
County: Pinellas
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): Tampa-St. Petersburg-Clearwater, FL (#8280)
Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300)
CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
Financial Summary
Total assets: $106.6 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$38Total assets
$116,181Cash and due from depository institutions
$4,166Interest-bearing balances
$0Securities
$61,923Federal funds sold & reverse repurchase agreements
$4,200Net loans & leases
$41,124Loan loss allowance
$1,231Trading account assets
$0Bank premises and fixed assets
$2,358Other real estate owned
$640Goodwill and other intangibles
$1,770Life insurance assets
$0All other assets
$0Total liabilities and capital
$116,181Total liabilities
$107,244Total deposits
$106,592Interest-bearing deposits
$99,960Deposits held in domestic offices
106592.00%% insured (estimated)
$91Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$652Total equity capital
$652Total bank equity capital
$8,937Perpetual preferred stock
$0Common stock
$4,125Surplus
$4,040Undivided profits
Memoranda
$772Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,147Income earned, not collected on loans
$236Earning assets
$107,247Long-term assets (5+ years)
$3,103Average Assets, year-to-date
$115,226Average Assets, quarterly
$114,625Volatile liabilities
$13,799Insider loans
$1,551FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$3,796Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$8,937Total risk weighted assets
$75,080Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$8,613Total interest expense
$5,188Net interest income
$3,425Provision for loan and lease losses
$985Total noninterest income
$274Fiduciary activities
$0Service charges on deposit accounts
$226Trading account gains & fees
$0Additional noninterest income
$48Total noninterest expense
$2,347Salaries and employee benefits
$908Premises and equipment expense
$451Additional noninterest expense
$988Pre-tax net operating income
$367Securities gains (losses)
$296Applicable income taxes
$34Income before extraordinary items
$629Extraordinary gains - net
$0Net income attributable to bank
$629Net charge-offs
$210Cash dividends
$454Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.01%Cost of funding earning assets
4.82%Net interest margin
3.18%Noninterest income to earning assets
0.25%Noninterest expense to earning assets
2.18%Net operating income to assets
0.30%Return on assets (ROA)
0.55%Pretax return on assets
0.58%Return on equity (ROE)
6.98%Retained earnings to average equity (YTD only)
1.94%Net charge-offs to loans
0.48%Credit loss provision to net charge-offs
469.05%Efficiency ratio
63,450Assets per employee
3.06%Cash dividends to net income (YTD only)
Condition Ratios (%)
72.18%Loss allowance to loans
2.91%Loss allowance to noncurrent loans
57.34%Noncurrent assets plus other real estate owned to assets
2.40%Noncurrent loans to loans
5.07%Net loans and leases to deposits
38.58%Net loans and leases to core deposits
44.32%Equity capital to assets
7.69%Core capital (leverage) ratio
7.91%Tier 1 risk-based capital ratio
11.90%Total risk-based capital ratio
Memoranda
$13Average assets
$115,226Average earning assets
$9,013Average equity
$107,547Average loans

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