Florida Choice Bank in Mount Dora, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 12, 2008

  • Florida Choice Bank in Mount Dora, Florida (FL)
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Florida Choice Bank - Overview

  • General
  • FDIC Certificate #: 34954
    Status: Inactive
    Closing history: Absorption - Without Assistance
    Acquiring institution: RBC Bank (USA) (#33184)
    Federal Reserve ID: 2815262
    Date Established: June 01, 1999
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 14 (Interstate: No)
    FDIC's unique #: 62128
    Numeric code: 21
    Regulator: FDIC
    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: June 01, 1999
    Last Structure Change Effective Date: April 12, 2008
    Last Structure Change Process Date: May 28, 2008
    Last Data Update: May 28, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 18055 U.S. Highway 441, Mount Dora, FL 32757
    County: Lake
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Gainesville
    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: $868.8 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, 2007)

  • Dollar figures in thousands
  • 186Total employees (full-time equivalent)
  • $942,937Total assets
  • $12,108Cash and due from depository institutions
  • $177Interest-bearing balances
  • $74,065Securities
  • $1,342Federal funds sold & reverse repurchase agreements
  • $798,195Net loans & leases
  • $12,673Loan loss allowance
  • $0Trading account assets
  • $26,707Bank premises and fixed assets
  • $242Other real estate owned
  • $5,471Goodwill and other intangibles
  • $9,263Life insurance assets
  • $24,807All other assets
  • $942,937Total liabilities and capital
  • $845,920Total liabilities
  • $740,450Total deposits
  • $662,310Interest-bearing deposits
  • $740,450Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $11,150Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $89,356Other borrowed funds
  • $0Subordinated debt
  • $4,964All other liabilities
  • $97,017Total equity capital
  • $97,017Total bank equity capital
  • $97,017Perpetual preferred stock
  • $0Common stock
  • $6,516Surplus
  • $49,688Undivided profits
  • Memoranda
  • $40,813Noncurrent loans and leases
  • $197,270Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $11,023Earning assets
  • $0Long-term assets (5+ years)
  • $4,150Average Assets, year-to-date
  • $873,779Average Assets, quarterly
  • $107,109Volatile liabilities
  • $958,037Insider loans
  • $949,419FHLB advances
  • $248,979Loans and leases held for sale
  • $11,030Unused loan commitments
  • $85,843Tier 1 (core) risk-based capital
  • $808Tier 2 risk-based capital
  • $1,345Total risk weighted assets
  • $197,270Total unused commitments
  • $0Restructured Loans and leases
  • $11,072Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $70,573Total interest income
  • $33,392Total interest expense
  • $37,181Net interest income
  • $4,675Provision for loan and lease losses
  • $4,639Total noninterest income
  • $0Fiduciary activities
  • $1,583Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,056Additional noninterest income
  • $21,204Total noninterest expense
  • $11,579Salaries and employee benefits
  • $2,605Premises and equipment expense
  • $7,020Additional noninterest expense
  • $15,941Pre-tax net operating income
  • -$165Securities gains (losses)
  • $5,778Applicable income taxes
  • $9,998Income before extraordinary items
  • $0Extraordinary gains - net
  • $9,998Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,583Sale, conversion, retirement of capital stock, net
  • $4,000Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.96%Yield on earning assets
  • 3.77%Cost of funding earning assets
  • 4.19%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 2.39%Noninterest expense to earning assets
  • 1.05%Net operating income to assets
  • 1.04%Return on assets (ROA)
  • 1.65%Pretax return on assets
  • 10.60%Return on equity (ROE)
  • 6.36%Retained earnings to average equity (YTD only)
  • 0.20%Net charge-offs to loans
  • 295.33%Credit loss provision to net charge-offs
  • 13.02%Efficiency ratio
  • 45,748Assets per employee
  • 5.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 40.01%Loss allowance to loans
  • 1.56%Loss allowance to noncurrent loans
  • 114.97%Noncurrent assets plus other real estate owned to assets
  • 1.19%Noncurrent loans to loans
  • 1.36%Net loans and leases to deposits
  • 107.80%Net loans and leases to core deposits
  • 149.58%Equity capital to assets
  • 10.29%Core capital (leverage) ratio
  • 9.70%Tier 1 risk-based capital ratio
  • 10.40%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $958,037Average earning assets
  • $94,289Average equity
  • $886,655Average loans

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