First Independence Bank of Florida in Fort Myers, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 02, 1997

First Independence Bank of Florida in Fort Myers, Florida (FL)
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First Independence Bank of Florida - Overview

General
FDIC Certificate #: 23929
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Colonial Bank (#9609)
Federal Reserve ID: 68336
Date Established: July 27, 1982
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Interstate: No)
FDIC's unique #: 16701
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: July 27, 1982
Last Structure Change Effective Date: October 02, 1997
Last Structure Change Process Date: November 17, 1997
Last Data Update: November 17, 1997
Data Source Date: April 05, 2012
Location
Address: 16740 San Carlos Boulevard, S.W., Fort Myers, FL 33908
County: Lee
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
Metropolitan Statistical Area (MSA): Fort Myers-Cape Coral, FL (#2700)
Core Based Statistical Area (CBSA): Cape Coral-Fort Myers, FL (#15980)
CBSA Metro Statistical Area: Cape Coral-Fort Myers, FL (#15980)
Financial Summary
Total assets: $65.0 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)
$37Total assets
$62,478Cash and due from depository institutions
$4,527Interest-bearing balances
$0Securities
$5,342Federal funds sold & reverse repurchase agreements
$3,289Net loans & leases
$46,554Loan loss allowance
$690Trading account assets
$0Bank premises and fixed assets
$1,478Other real estate owned
$606Goodwill and other intangibles
$682Life insurance assets
$0All other assets
$0Total liabilities and capital
$62,478Total liabilities
$57,981Total deposits
$57,687Interest-bearing deposits
$46,429Deposits held in domestic offices
57687.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$294Total equity capital
$294Total bank equity capital
$4,497Perpetual preferred stock
$0Common stock
$2,646Surplus
$2,551Undivided profits
Memoranda
$-700Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$62Income earned, not collected on loans
$306Earning assets
$55,185Long-term assets (5+ years)
$2,165Average Assets, year-to-date
$53,207Average Assets, quarterly
$58,489Volatile liabilities
$5,847Insider loans
$2,904FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$4,355Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,521Total risk weighted assets
$45,367Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$4,034Total interest expense
$1,692Net interest income
$2,342Provision for loan and lease losses
$108Total noninterest income
$496Fiduciary activities
$0Service charges on deposit accounts
$260Trading account gains & fees
$0Additional noninterest income
$236Total noninterest expense
$2,243Salaries and employee benefits
$1,131Premises and equipment expense
$475Additional noninterest expense
$637Pre-tax net operating income
$487Securities gains (losses)
$0Applicable income taxes
$0Income before extraordinary items
$487Extraordinary gains - net
$0Net income attributable to bank
$487Net charge-offs
$61Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.65%Cost of funding earning assets
3.63%Net interest margin
5.02%Noninterest income to earning assets
1.06%Noninterest expense to earning assets
4.81%Net operating income to assets
0.92%Return on assets (ROA)
0.92%Pretax return on assets
0.92%Return on equity (ROE)
11.31%Retained earnings to average equity (YTD only)
11.31%Net charge-offs to loans
0.15%Credit loss provision to net charge-offs
177.05%Efficiency ratio
79,035Assets per employee
1.69%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.46%Loss allowance to noncurrent loans
1112.90%Noncurrent assets plus other real estate owned to assets
1.07%Noncurrent loans to loans
0.13%Net loans and leases to deposits
80.70%Net loans and leases to core deposits
89.80%Equity capital to assets
7.20%Core capital (leverage) ratio
7.66%Tier 1 risk-based capital ratio
9.97%Total risk-based capital ratio
Memoranda
$11Average assets
$53,207Average earning assets
$4,307Average equity
$46,612Average loans

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