Flagship National Bank in Bradenton, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 23, 2009

  • Flagship National Bank in Bradenton, Florida (FL)
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Flagship National Bank - Overview

  • General
  • FDIC Certificate #: 35044
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: First Federal Bank of Florida (#31313)
    Federal Reserve ID: 2809935
    Date Established: May 18, 1999
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 4 (Interstate: No)
    FDIC's unique #: 74348
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: May 18, 1999
    Last Structure Change Effective Date: October 23, 2009
    Last Structure Change Process Date: October 26, 2009
    Last Data Update: October 26, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 6004 26th Street West, Bradenton, FL 34207
    County: Manatee
    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): Sarasota-Bradenton, FL (#7510)
    Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494)
    Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840)
    CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
  • Financial Summary
  • Total assets: $177.6 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, 2008)

  • Dollar figures in thousands
  • 37Total employees (full-time equivalent)
  • $208,907Total assets
  • $3,819Cash and due from depository institutions
  • $1,524Interest-bearing balances
  • $35,675Securities
  • $10,655Federal funds sold & reverse repurchase agreements
  • $144,169Net loans & leases
  • $5,841Loan loss allowance
  • $0Trading account assets
  • $8,041Bank premises and fixed assets
  • $468Other real estate owned
  • $0Goodwill and other intangibles
  • $3,545Life insurance assets
  • $6,080All other assets
  • $208,907Total liabilities and capital
  • $194,217Total liabilities
  • $181,674Total deposits
  • $172,323Interest-bearing deposits
  • $181,674Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $12,000Other borrowed funds
  • $0Subordinated debt
  • $543All other liabilities
  • $14,690Total equity capital
  • $14,690Total bank equity capital
  • $14,690Perpetual preferred stock
  • $0Common stock
  • $1,616Surplus
  • $17,862Undivided profits
  • Memoranda
  • $-4,788Noncurrent loans and leases
  • $13,825Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $18,666Earning assets
  • $0Long-term assets (5+ years)
  • $892Average Assets, year-to-date
  • $192,023Average Assets, quarterly
  • $36,980Volatile liabilities
  • $222,202Insider loans
  • $219,761FHLB advances
  • $53,664Loans and leases held for sale
  • $6,035Unused loan commitments
  • $12,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $13,825Total unused commitments
  • $5,966Restructured Loans and leases
  • $1,980Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $12,480Total interest income
  • $8,490Total interest expense
  • $3,990Net interest income
  • $6,687Provision for loan and lease losses
  • $142Total noninterest income
  • $0Fiduciary activities
  • $145Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$3Additional noninterest income
  • $4,602Total noninterest expense
  • $2,087Salaries and employee benefits
  • $692Premises and equipment expense
  • $1,823Additional noninterest expense
  • -$7,157Pre-tax net operating income
  • $22Securities gains (losses)
  • $0Applicable income taxes
  • -$7,135Income before extraordinary items
  • $0Extraordinary gains - net
  • -$7,135Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2,874Sale, conversion, retirement of capital stock, net
  • $1,148Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.12%Yield on earning assets
  • 4.16%Cost of funding earning assets
  • 1.96%Net interest margin
  • 0.07%Noninterest income to earning assets
  • 2.26%Noninterest expense to earning assets
  • -3.22%Net operating income to assets
  • -3.21%Return on assets (ROA)
  • -3.21%Pretax return on assets
  • -44.56%Return on equity (ROE)
  • -51.73%Retained earnings to average equity (YTD only)
  • 1.81%Net charge-offs to loans
  • 232.67%Credit loss provision to net charge-offs
  • -0.16%Efficiency ratio
  • 111,375Assets per employee
  • 5.65%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -16.09%Loss allowance to loans
  • 3.89%Loss allowance to noncurrent loans
  • 31.29%Noncurrent assets plus other real estate owned to assets
  • 9.16%Noncurrent loans to loans
  • 12.44%Net loans and leases to deposits
  • 79.36%Net loans and leases to core deposits
  • 112.62%Equity capital to assets
  • 7.03%Core capital (leverage) ratio
  • 6.75%Tier 1 risk-based capital ratio
  • 9.29%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $222,202Average earning assets
  • $16,012Average equity
  • $204,060Average loans

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