FDIC Certificate #: 19023 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Merchants & Marine Bank (#12203) Federal Reserve ID: 420934 Date Established: Febuary 14, 1964 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 12863 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: Febuary 14, 1964 Last Structure Change Effective Date: December 09, 2011 Last Structure Change Process Date: January 05, 2012 Last Data Update: January 05, 2012 Data Source Date: April 05, 2012
Location
Address: 1820 South Gulf Shores Parkway, Gulf Shores, AL 36542 County: Baldwin Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Pensacola Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Mobile, AL (#5160) Combined Statistical Area (CSA): Mobile-Daphne-Fairhope, AL (#380) Core Based Statistical Area (CBSA): Daphne-Fairhope-Foley, AL (#19300) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $54.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
23Total employees (full-time equivalent)
$57,324Total assets
$10,115Cash and due from depository institutions
$9,593Interest-bearing balances
$3,674Securities
$0Federal funds sold & reverse repurchase agreements
$34,388Net loans & leases
$995Loan loss allowance
$0Trading account assets
$6,157Bank premises and fixed assets
$2,596Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$394All other assets
$57,324Total liabilities and capital
$54,436Total liabilities
$54,253Total deposits
$45,263Interest-bearing deposits
$54,253Deposits held in domestic offices
96.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$183All other liabilities
$2,888Total equity capital
$2,888Total bank equity capital
$2,888Perpetual preferred stock
$0Common stock
$200Surplus
$8,101Undivided profits
Memoranda
$-5,413Noncurrent loans and leases
$1,032Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,450Earning assets
$0Long-term assets (5+ years)
$235Average Assets, year-to-date
$47,655Average Assets, quarterly
$1,825Volatile liabilities
$55,998Insider loans
$56,724FHLB advances
$9,430Loans and leases held for sale
$965Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,032Total unused commitments
$1,445Restructured Loans and leases
$462Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$2,633Total interest income
$643Total interest expense
$1,990Net interest income
$979Provision for loan and lease losses
$390Total noninterest income
$0Fiduciary activities
$304Service charges on deposit accounts
$0Trading account gains & fees
$86Additional noninterest income
$2,679Total noninterest expense
$1,228Salaries and employee benefits
$340Premises and equipment expense
$1,111Additional noninterest expense
-$1,278Pre-tax net operating income
$2Securities gains (losses)
$0Applicable income taxes
-$1,276Income before extraordinary items
$0Extraordinary gains - net
-$1,276Net income attributable to bank
$0Net charge-offs
-$1,276Cash dividends
$802Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.58%Yield on earning assets
1.36%Cost of funding earning assets
4.22%Net interest margin
0.83%Noninterest income to earning assets
5.68%Noninterest expense to earning assets
-2.28%Net operating income to assets
-2.28%Return on assets (ROA)
-2.28%Pretax return on assets
-36.79%Return on equity (ROE)
-36.79%Retained earnings to average equity (YTD only)
2.04%Net charge-offs to loans
122.07%Credit loss provision to net charge-offs
-0.37%Efficiency ratio
112,563Assets per employee
2.49%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.81%Loss allowance to noncurrent loans
68.62%Noncurrent assets plus other real estate owned to assets
7.06%Noncurrent loans to loans
4.10%Net loans and leases to deposits
63.38%Net loans and leases to core deposits
76.72%Equity capital to assets
5.04%Core capital (leverage) ratio
4.75%Tier 1 risk-based capital ratio
7.51%Total risk-based capital ratio
Memoranda
$9Average assets
$55,998Average earning assets
$3,469Average equity
$47,172Average loans
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