Independent Community Bank in Tequesta, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 31, 2007

  • Independent Community Bank in Tequesta, Florida (FL)
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Independent Community Bank - Overview

  • General
  • FDIC Certificate #: 34649
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Sun American Bank (#27126)
    Federal Reserve ID: 2737841
    Date Established: October 15, 1998
    WWW: http://www.freedomaccess.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 61026
    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: October 15, 1998
    Last Structure Change Effective Date: March 31, 2007
    Last Structure Change Process Date: April 09, 2007
    Last Data Update: April 09, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 250 Tequesta Drive, Suite 101, Tequesta, FL 33469
    County: Palm Beach
    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): West Palm Beach-Boca Raton, FL (#8960)
    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: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
  • Financial Summary
  • Total assets: $136.5 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, 2006)

  • Dollar figures in thousands
  • 24Total employees (full-time equivalent)
  • $136,495Total assets
  • $13,089Cash and due from depository institutions
  • $9,797Interest-bearing balances
  • $11,831Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $109,378Net loans & leases
  • $1,494Loan loss allowance
  • $0Trading account assets
  • $262Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,935All other assets
  • $136,495Total liabilities and capital
  • $121,989Total liabilities
  • $108,712Total deposits
  • $92,025Interest-bearing deposits
  • $108,712Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $4,092Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $9,000Other borrowed funds
  • $0Subordinated debt
  • $185All other liabilities
  • $14,506Total equity capital
  • $14,506Total bank equity capital
  • $14,506Perpetual preferred stock
  • $0Common stock
  • $5,452Surplus
  • $5,072Undivided profits
  • Memoranda
  • $3,982Noncurrent loans and leases
  • $20,309Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $0Long-term assets (5+ years)
  • $634Average Assets, year-to-date
  • $131,006Average Assets, quarterly
  • $32,749Volatile liabilities
  • $134,147Insider loans
  • $129,584FHLB advances
  • $32,739Loans and leases held for sale
  • $2,678Unused loan commitments
  • $9,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $20,309Total unused commitments
  • $0Restructured Loans and leases
  • $1,487Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $9,669Total interest income
  • $3,738Total interest expense
  • $5,931Net interest income
  • $0Provision for loan and lease losses
  • $125Total noninterest income
  • $0Fiduciary activities
  • $74Service charges on deposit accounts
  • $0Trading account gains & fees
  • $51Additional noninterest income
  • $2,871Total noninterest expense
  • $1,616Salaries and employee benefits
  • $422Premises and equipment expense
  • $833Additional noninterest expense
  • $3,185Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,151Applicable income taxes
  • $2,034Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,034Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.53%Yield on earning assets
  • 2.91%Cost of funding earning assets
  • 4.62%Net interest margin
  • 0.10%Noninterest income to earning assets
  • 2.23%Noninterest expense to earning assets
  • 1.52%Net operating income to assets
  • 1.52%Return on assets (ROA)
  • 2.37%Pretax return on assets
  • 15.29%Return on equity (ROE)
  • 15.29%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 47,408Assets per employee
  • 5.69%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.35%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 100.61%Net loans and leases to core deposits
  • 122.81%Equity capital to assets
  • 10.63%Core capital (leverage) ratio
  • 11.38%Tier 1 risk-based capital ratio
  • 12.30%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $134,147Average earning assets
  • $13,301Average equity
  • $128,457Average loans

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