FDIC Certificate #: 34684 Status: Inactive Closing history: Corrections Acquiring institution:Centennial Bank (#11241) Federal Reserve ID: 2769002 Date Established: Febuary 08, 1999 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 14929 FDIC's unique #: 61196 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: Febuary 08, 1999 Last Structure Change Effective Date: March 26, 2010 Last Structure Change Process Date: March 29, 2010 Last Data Update: March 29, 2010 Data Source Date: April 05, 2012
Location
Address: 701 Whitehead Street, Key West, FL 33040 County: Monroe 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 Core Based Statistical Area (CBSA): Key West, FL (#28580) CBSA Micro Statistical Area: Yes
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $88.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
16Total employees (full-time equivalent)
$88,031Total assets
$2,190Cash and due from depository institutions
$1,754Interest-bearing balances
$0Securities
$11,690Federal funds sold & reverse repurchase agreements
$65,517Net loans & leases
$1,053Loan loss allowance
$0Trading account assets
$1,181Bank premises and fixed assets
$5,968Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,485All other assets
$88,031Total liabilities and capital
$87,979Total liabilities
$67,662Total deposits
$63,642Interest-bearing deposits
$67,662Deposits held in domestic offices
100.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$20,000Other borrowed funds
$0Subordinated debt
$317All other liabilities
$52Total equity capital
$52Total bank equity capital
$52Perpetual preferred stock
$0Common stock
$0Surplus
$6,785Undivided profits
Memoranda
$-6,733Noncurrent loans and leases
$1,218Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$6,746Earning assets
$0Long-term assets (5+ years)
$276Average Assets, year-to-date
$78,961Average Assets, quarterly
$0Volatile liabilities
$93,646Insider loans
$93,945FHLB advances
$56,537Loans and leases held for sale
$3,045Unused loan commitments
$20,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,218Total unused commitments
$8,309Restructured Loans and leases
$52Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$4,053Total interest income
$1,924Total interest expense
$2,129Net interest income
$5,983Provision for loan and lease losses
-$460Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
-$460Additional noninterest income
$2,489Total noninterest expense
$1,297Salaries and employee benefits
$324Premises and equipment expense
$868Additional noninterest expense
-$6,803Pre-tax net operating income
$310Securities gains (losses)
$0Applicable income taxes
-$6,493Income before extraordinary items
$0Extraordinary gains - net
-$6,493Net income attributable to bank
$0Net charge-offs
-$6,493Cash dividends
$5,861Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.74%Yield on earning assets
2.25%Cost of funding earning assets
2.49%Net interest margin
-0.54%Noninterest income to earning assets
2.91%Noninterest expense to earning assets
-7.26%Net operating income to assets
-6.93%Return on assets (ROA)
-6.93%Pretax return on assets
-160.16%Return on equity (ROE)
-160.16%Retained earnings to average equity (YTD only)
7.70%Net charge-offs to loans
102.08%Credit loss provision to net charge-offs
-0.14%Efficiency ratio
149,131Assets per employee
5.50%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.58%Loss allowance to noncurrent loans
15.61%Noncurrent assets plus other real estate owned to assets
14.44%Noncurrent loans to loans
10.13%Net loans and leases to deposits
96.83%Net loans and leases to core deposits
210.50%Equity capital to assets
0.06%Core capital (leverage) ratio
0.06%Tier 1 risk-based capital ratio
0.09%Total risk-based capital ratio
Memoranda
$0Average assets
$93,646Average earning assets
$4,054Average equity
$85,436Average loans
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