FDIC Certificate #: 58308 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:First Southern Bank (#27044) Federal Reserve ID: 3448836 Date Established: August 29, 2006 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 445957 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: August 29, 2006 Last Structure Change Effective Date: September 24, 2010 Last Structure Change Process Date: September 27, 2010 Last Data Update: September 27, 2010 Data Source Date: April 05, 2012
Location
Address: 212 Ponte Vedra Park Drive, Ponte Vedra Beach, FL 32082 County: St. Johns 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): Jacksonville, FL (#3600) Core Based Statistical Area (CBSA): Jacksonville, FL (#27260) CBSA Metro Statistical Area: Jacksonville, FL (#27260)
Financial Summary
Total assets: $148.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
22Total employees (full-time equivalent)
$164,333Total assets
$14,355Cash and due from depository institutions
$13,318Interest-bearing balances
$6,283Securities
$2,322Federal funds sold & reverse repurchase agreements
$121,580Net loans & leases
$6,733Loan loss allowance
$0Trading account assets
$7,427Bank premises and fixed assets
$10,030Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,336All other assets
$164,333Total liabilities and capital
$157,963Total liabilities
$146,434Total deposits
$141,273Interest-bearing deposits
$146,434Deposits held in domestic offices
84.77%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$11,000Other borrowed funds
$0Subordinated debt
$529All other liabilities
$6,370Total equity capital
$6,370Total bank equity capital
$6,370Perpetual preferred stock
$0Common stock
$10,000Surplus
$16,839Undivided profits
Memoranda
$-20,469Noncurrent loans and leases
$4,712Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$20,996Earning assets
$0Long-term assets (5+ years)
$653Average Assets, year-to-date
$143,503Average Assets, quarterly
$20,380Volatile liabilities
$169,287Insider loans
$167,043FHLB advances
$64,382Loans and leases held for sale
$5,150Unused loan commitments
$11,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,712Total unused commitments
$5,683Restructured Loans and leases
$1,886Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$8,480Total interest income
$4,851Total interest expense
$3,629Net interest income
$9,395Provision for loan and lease losses
$99Total noninterest income
$0Fiduciary activities
$55Service charges on deposit accounts
$0Trading account gains & fees
$44Additional noninterest income
$5,477Total noninterest expense
$1,875Salaries and employee benefits
$658Premises and equipment expense
$2,944Additional noninterest expense
-$11,144Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$11,144Income before extraordinary items
$0Extraordinary gains - net
-$11,144Net income attributable to bank
$0Net charge-offs
-$11,144Cash dividends
$5,862Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.48%Yield on earning assets
3.13%Cost of funding earning assets
2.34%Net interest margin
0.06%Noninterest income to earning assets
3.54%Noninterest expense to earning assets
-6.58%Net operating income to assets
-6.58%Return on assets (ROA)
-6.58%Pretax return on assets
-101.29%Return on equity (ROE)
-101.29%Retained earnings to average equity (YTD only)
4.28%Net charge-offs to loans
160.27%Credit loss provision to net charge-offs
-0.30%Efficiency ratio
146,915Assets per employee
7.47%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.25%Loss allowance to noncurrent loans
32.07%Noncurrent assets plus other real estate owned to assets
18.88%Noncurrent loans to loans
16.36%Net loans and leases to deposits
83.03%Net loans and leases to core deposits
130.66%Equity capital to assets
3.88%Core capital (leverage) ratio
3.77%Tier 1 risk-based capital ratio
4.40%Total risk-based capital ratio
Memoranda
$6Average assets
$169,287Average earning assets
$11,002Average equity
$154,818Average loans
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