FDIC Certificate #: 34852 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:First America Bank (#57722) Federal Reserve ID: 2751379 Date Established: December 07, 1998 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 15352 FDIC's unique #: 61814 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: December 07, 1998 Last Structure Change Effective Date: October 31, 2009 Last Structure Change Process Date: November 23, 2009 Last Data Update: November 23, 2009 Data Source Date: April 05, 2012
Location
Address: 430 8th Avenue West, Palmetto, FL 34221 County: Manatee Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Tampa Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Sarasota-Bradenton, FL (#7510) Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494) Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840) CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
Financial Summary
Total assets: $152.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
32Total employees (full-time equivalent)
$156,566Total assets
$11,313Cash and due from depository institutions
$6,974Interest-bearing balances
$145Securities
$6,350Federal funds sold & reverse repurchase agreements
$129,866Net loans & leases
$678Loan loss allowance
$0Trading account assets
$3,501Bank premises and fixed assets
$1,453Other real estate owned
$0Goodwill and other intangibles
$2,308Life insurance assets
$3,938All other assets
$156,566Total liabilities and capital
$146,841Total liabilities
$133,179Total deposits
$122,874Interest-bearing deposits
$133,179Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$13,000Other borrowed funds
$0Subordinated debt
$662All other liabilities
$9,725Total equity capital
$9,725Total bank equity capital
$9,725Perpetual preferred stock
$0Common stock
$118Surplus
$8,896Undivided profits
Memoranda
$711Noncurrent loans and leases
$8,218Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,377Earning assets
$0Long-term assets (5+ years)
$604Average Assets, year-to-date
$143,335Average Assets, quarterly
$0Volatile liabilities
$155,219Insider loans
$155,195FHLB advances
$44,151Loans and leases held for sale
$4,304Unused loan commitments
$13,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,218Total unused commitments
$1,855Restructured Loans and leases
$678Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$8,843Total interest income
$5,193Total interest expense
$3,650Net interest income
$1,246Provision for loan and lease losses
$326Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$326Additional noninterest income
$4,049Total noninterest expense
$2,186Salaries and employee benefits
$962Premises and equipment expense
$901Additional noninterest expense
-$1,319Pre-tax net operating income
$141Securities gains (losses)
$0Applicable income taxes
-$1,178Income before extraordinary items
$0Extraordinary gains - net
-$1,178Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$789Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.23%Yield on earning assets
3.66%Cost of funding earning assets
2.57%Net interest margin
0.23%Noninterest income to earning assets
2.85%Noninterest expense to earning assets
-0.85%Net operating income to assets
-0.76%Return on assets (ROA)
-0.76%Pretax return on assets
-11.04%Return on equity (ROE)
-11.04%Retained earnings to average equity (YTD only)
0.61%Net charge-offs to loans
157.92%Credit loss provision to net charge-offs
-0.09%Efficiency ratio
101,836Assets per employee
4.89%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.52%Loss allowance to noncurrent loans
20.08%Noncurrent assets plus other real estate owned to assets
3.08%Noncurrent loans to loans
2.59%Net loans and leases to deposits
97.51%Net loans and leases to core deposits
127.28%Equity capital to assets
6.21%Core capital (leverage) ratio
6.21%Tier 1 risk-based capital ratio
9.31%Total risk-based capital ratio
Memoranda
$10Average assets
$155,219Average earning assets
$10,671Average equity
$141,838Average loans
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