Independent National Bank in Ocala, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 20, 2010

  • Independent National Bank in Ocala, Florida (FL)
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Independent National Bank - Overview

  • General
  • FDIC Certificate #: 27344
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: CenterState Bank of Florida, National Association (#33555)
    Federal Reserve ID: 1218165
    Date Established: October 03, 1988
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 4 (Interstate: No)
    OTS Docket #: 12666
    FDIC's unique #: 39618
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: October 03, 1988
    Last Structure Change Effective Date: August 20, 2010
    Last Structure Change Process Date: August 23, 2010
    Last Data Update: August 23, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 60 S.W. 17th Street, Ocala, FL 34471
    County: Marion
    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): Ocala, FL (#5790)
    Core Based Statistical Area (CBSA): Ocala, FL (#36100)
    CBSA Metro Statistical Area: Ocala, FL (#36100)
  • Financial Summary
  • Total assets: $156.2 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, 2009)

  • Dollar figures in thousands
  • 59Total employees (full-time equivalent)
  • $168,904Total assets
  • $6,153Cash and due from depository institutions
  • $92Interest-bearing balances
  • $11,748Securities
  • $10,668Federal funds sold & reverse repurchase agreements
  • $126,931Net loans & leases
  • $4,800Loan loss allowance
  • $0Trading account assets
  • $8,337Bank premises and fixed assets
  • $712Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $4,355All other assets
  • $168,904Total liabilities and capital
  • $162,227Total liabilities
  • $151,677Total deposits
  • $135,721Interest-bearing deposits
  • $151,677Deposits held in domestic offices
  • 95.62%% insured (estimated)
  • $218Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $10,000Other borrowed funds
  • $0Subordinated debt
  • $332All other liabilities
  • $6,677Total equity capital
  • $6,677Total bank equity capital
  • $6,677Perpetual preferred stock
  • $0Common stock
  • $1,474Surplus
  • $6,414Undivided profits
  • Memoranda
  • $-1,211Noncurrent loans and leases
  • $8,342Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $21,241Earning assets
  • $0Long-term assets (5+ years)
  • $640Average Assets, year-to-date
  • $149,439Average Assets, quarterly
  • $21,500Volatile liabilities
  • $199,286Insider loans
  • $183,785FHLB advances
  • $25,108Loans and leases held for sale
  • $1,672Unused loan commitments
  • $10,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $8,342Total unused commitments
  • $130Restructured Loans and leases
  • $1,645Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $9,415Total interest income
  • $4,113Total interest expense
  • $5,302Net interest income
  • $9,278Provision for loan and lease losses
  • $26Total noninterest income
  • $0Fiduciary activities
  • $611Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$585Additional noninterest income
  • $7,235Total noninterest expense
  • $3,478Salaries and employee benefits
  • $849Premises and equipment expense
  • $2,908Additional noninterest expense
  • -$11,185Pre-tax net operating income
  • $82Securities gains (losses)
  • -$1,199Applicable income taxes
  • -$9,904Income before extraordinary items
  • $0Extraordinary gains - net
  • -$9,904Net income attributable to bank
  • $0Net charge-offs
  • -$9,904Cash dividends
  • $6,393Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.29%Yield on earning assets
  • 2.31%Cost of funding earning assets
  • 2.98%Net interest margin
  • 0.01%Noninterest income to earning assets
  • 4.07%Noninterest expense to earning assets
  • -5.01%Net operating income to assets
  • -4.97%Return on assets (ROA)
  • -5.57%Pretax return on assets
  • -72.65%Return on equity (ROE)
  • -72.65%Retained earnings to average equity (YTD only)
  • 4.46%Net charge-offs to loans
  • 145.13%Credit loss provision to net charge-offs
  • -0.30%Efficiency ratio
  • 135,792Assets per employee
  • 2.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.64%Loss allowance to noncurrent loans
  • 22.60%Noncurrent assets plus other real estate owned to assets
  • 13.00%Noncurrent loans to loans
  • 16.12%Net loans and leases to deposits
  • 83.69%Net loans and leases to core deposits
  • 100.11%Equity capital to assets
  • 3.95%Core capital (leverage) ratio
  • 3.57%Tier 1 risk-based capital ratio
  • 5.19%Total risk-based capital ratio
  • Memoranda
  • $6Average assets
  • $199,286Average earning assets
  • $13,632Average equity
  • $177,847Average loans

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