Florida Shores Bank - Southeast in Pompano Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Florida Shores Bank - Southeast in Pompano Beach, Florida (FL)
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Florida Shores Bank - Southeast routing number info

Florida Shores Bank - Southeast - Overview

  • General
  • FDIC Certificate #: 58331
    Status: Active
    Federal Reserve ID: 3467266
    Bank Holding Company (Regulatory Top Holder): Smith Associates Bank Fund Management Llc (RSSDID: 3467293, Location: Pompano Beach, FL)
    Date Established: December 08, 2006
    WWW: http://www.floridashoresbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 446229
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 08, 2006
    Last Structure Change Effective Date: December 03, 2011
    Last Structure Change Process Date: December 12, 2011
    Last Data Update: December 12, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 400 North Federal Highway, Pompano Beach, FL 33062
    County: Broward
    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 Lauderdale, FL (#2680)
    Consolidated Metropolitan Statistical Area (CMSA): Miami-Fort Lauderdale, FL (#56)
    Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    Core Based Statistical Division: Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (#22744)
  • History of Changes
  • Office Purchased
  • Financial Summary
  • Total assets: $181.5 mil
    Equity capital: $15.0 mil
    Deposits held in domestic offices: $165.6 mil
    Return on assets (ROA): -1.65% (-$3.0 mil)
    Quarterly return on assets: -2.26% (-$4.1 mil)
    Return on Equity (ROE): -18.20% (-$2.7 mil)
    Quarterly return on equity: -24.56% (-$3.7 mil)
    Net income: -$2.5 mil
    Quarterly Net income: -$0.9 mil
    Pretax return on assets: -1.65% (-$2,995.1 mil)
    Quarterly Pretax return on assets: -2.26% (-$4,102.4 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, 2011)

  • Dollar figures in thousands
  • 34Total employees (full-time equivalent)
  • $181,524Total assets
  • $40,171Cash and due from depository institutions
  • $39,011Interest-bearing balances
  • $28,216Securities
  • $1,131Federal funds sold & reverse repurchase agreements
  • $101,670Net loans & leases
  • $2,126Loan loss allowance
  • $0Trading account assets
  • $8,956Bank premises and fixed assets
  • $0Other real estate owned
  • $390Goodwill and other intangibles
  • $181,524Life insurance assets
  • $990All other assets
  • $166,571Total liabilities and capital
  • $165,608Total liabilities
  • $149,955Total deposits
  • $165,608Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $500Trading liabilities
  • $0Other borrowed funds
  • $463Subordinated debt
  • $14,953All other liabilities
  • $14,953Total equity capital
  • $14,953Total bank equity capital
  • $5,000Perpetual preferred stock
  • $9,658Common stock
  • $10,391Surplus
  • $-10,096Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,915Income earned, not collected on loans
  • $0Earning assets
  • $443Long-term assets (5+ years)
  • $170,028Average Assets, year-to-date
  • $37,807Average Assets, quarterly
  • $149,074Volatile liabilities
  • $167,788Insider loans
  • $115,056FHLB advances
  • $164,728Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $14,551Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,648Restructured Loans and leases
  • $3,647Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,886Total interest income
  • $1,546Total interest expense
  • $5,340Net interest income
  • $2,322Provision for loan and lease losses
  • $235Total noninterest income
  • $0Fiduciary activities
  • $76Service charges on deposit accounts
  • $0Trading account gains & fees
  • $159Additional noninterest income
  • $5,771Total noninterest expense
  • $2,849Salaries and employee benefits
  • $1,210Premises and equipment expense
  • $1,712Additional noninterest expense
  • -$2,518Pre-tax net operating income
  • $59Securities gains (losses)
  • $0Applicable income taxes
  • -$2,459Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,459Net income attributable to bank
  • $0Net charge-offs
  • -$2,459Cash dividends
  • $1,726Sale, conversion, retirement of capital stock, net
  • $19Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.97%Yield on earning assets
  • 1.12%Cost of funding earning assets
  • 3.86%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 4.17%Noninterest expense to earning assets
  • -1.69%Net operating income to assets
  • -1.65%Return on assets (ROA)
  • -1.65%Pretax return on assets
  • -18.20%Return on equity (ROE)
  • -18.34%Retained earnings to average equity (YTD only)
  • 1.70%Net charge-offs to loans
  • 134.53%Credit loss provision to net charge-offs
  • -0.11%Efficiency ratio
  • 102,834Assets per employee
  • 5.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -0.77%Loss allowance to loans
  • 2.05%Loss allowance to noncurrent loans
  • 43.26%Noncurrent assets plus other real estate owned to assets
  • 2.71%Noncurrent loans to loans
  • 4.74%Net loans and leases to deposits
  • 61.39%Net loans and leases to core deposits
  • 67.50%Equity capital to assets
  • 8.24%Core capital (leverage) ratio
  • 8.83%Tier 1 risk-based capital ratio
  • 12.65%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $149,074Average earning assets
  • $13,513Average equity
  • $138,502Average loans

List of branches

  • 4 Florida Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    0446229Florida Shores Bank - Southeast400 North Federal Highway, Pompano Beach, FL 33062December 08, 2006Full Service Brick and Mortar
    2450591Mobile/Courier Pick-Up Branch1801 Souoth Federal Highway, Boca Raton, FL 33432Febuary 03, 2006Limited Service Messenger
    3450594Boca Raton Branch1801 South Federal Highway, Boca Raton, FL 33432Febuary 03, 2006Full Service Brick and Mortar
    4467052Ft Lauderdale Branch200 East Broward Boulevard, Suite 200, Fort Lauderdale, FL 33301Febuary 20, 2007Full Service Brick and Mortar

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