FDIC Certificate #: 57537 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:1st United Bank (#35408) Federal Reserve ID: 3201527 Date Established: July 14, 2003 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 8 (Interstate: No) FDIC's unique #: 365181 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: July 14, 2003 Last Structure Change Effective Date: October 21, 2011 Last Structure Change Process Date: October 24, 2011 Last Data Update: October 24, 2011 Data Source Date: April 05, 2012
Location
Address: 2605 Enterprise Road East, Suite 100, Clearwater, FL 33759 County: Pinellas 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): Tampa-St. Petersburg-Clearwater, FL (#8280) Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300) CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
Financial Summary
Total assets: $209.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
46Total employees (full-time equivalent)
$226,694Total assets
$11,113Cash and due from depository institutions
$10,061Interest-bearing balances
$34,342Securities
$36Federal funds sold & reverse repurchase agreements
$171,629Net loans & leases
$5,544Loan loss allowance
$0Trading account assets
$6,428Bank premises and fixed assets
$377Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,769All other assets
$226,694Total liabilities and capital
$221,203Total liabilities
$220,786Total deposits
$211,241Interest-bearing deposits
$220,786Deposits held in domestic offices
98.48%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$417All other liabilities
$5,491Total equity capital
$5,491Total bank equity capital
$5,491Perpetual preferred stock
$0Common stock
$2,417Surplus
$23,203Undivided profits
Memoranda
$-20,129Noncurrent loans and leases
$11,674Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$20,423Earning assets
$0Long-term assets (5+ years)
$664Average Assets, year-to-date
$216,068Average Assets, quarterly
$62,401Volatile liabilities
$236,252Insider loans
$226,171FHLB advances
$46,401Loans and leases held for sale
$4,874Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$11,674Total unused commitments
$7,903Restructured Loans and leases
$2,217Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$11,048Total interest income
$3,500Total interest expense
$7,548Net interest income
$8,614Provision for loan and lease losses
$354Total noninterest income
$0Fiduciary activities
$114Service charges on deposit accounts
$0Trading account gains & fees
$240Additional noninterest income
$6,962Total noninterest expense
$2,897Salaries and employee benefits
$1,393Premises and equipment expense
$2,672Additional noninterest expense
-$7,674Pre-tax net operating income
$801Securities gains (losses)
$0Applicable income taxes
-$6,873Income before extraordinary items
$0Extraordinary gains - net
-$6,873Net income attributable to bank
$0Net charge-offs
-$6,873Cash dividends
$7,175Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.92%Yield on earning assets
1.56%Cost of funding earning assets
3.36%Net interest margin
0.16%Noninterest income to earning assets
3.10%Noninterest expense to earning assets
-3.25%Net operating income to assets
-2.91%Return on assets (ROA)
-2.91%Pretax return on assets
-78.19%Return on equity (ROE)
-78.19%Retained earnings to average equity (YTD only)
3.95%Net charge-offs to loans
120.06%Credit loss provision to net charge-offs
0.13%Efficiency ratio
88,104Assets per employee
4.93%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.13%Loss allowance to noncurrent loans
27.15%Noncurrent assets plus other real estate owned to assets
9.18%Noncurrent loans to loans
11.53%Net loans and leases to deposits
77.74%Net loans and leases to core deposits
98.42%Equity capital to assets
2.42%Core capital (leverage) ratio
2.61%Tier 1 risk-based capital ratio
3.47%Total risk-based capital ratio
Memoranda
$5Average assets
$236,252Average earning assets
$8,791Average equity
$224,449Average loans
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