Prime Bank in Melbourne, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 01, 2010

Prime Bank in Melbourne, Florida (FL)
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Prime Bank - Overview

General
FDIC Certificate #: 57832
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Florida Bank of Commerce (#58081)
Federal Reserve ID: 3309768
Date Established: December 13, 2004
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 427083
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: December 13, 2004
Last Structure Change Effective Date: May 01, 2010
Last Structure Change Process Date: June 04, 2010
Last Data Update: June 04, 2010
Data Source Date: April 05, 2012
Location
Address: 5770 North Wickham Road, Melbourne, FL 32940
County: Brevard
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): Melbourne-Titusville-Palm Bay, FL (#4900)
Core Based Statistical Area (CBSA): Palm Bay-Melbourne-Titusville, FL (#37340)
CBSA Metro Statistical Area: Palm Bay-Melbourne-Titusville, FL (#37340)
Financial Summary
Total assets: $77.8 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
15Total employees (full-time equivalent)
$72,384Total assets
$5,087Cash and due from depository institutions
$4,333Interest-bearing balances
$5,289Securities
$0Federal funds sold & reverse repurchase agreements
$53,972Net loans & leases
$769Loan loss allowance
$0Trading account assets
$3,703Bank premises and fixed assets
$242Other real estate owned
$2,485Goodwill and other intangibles
$0Life insurance assets
$1,606All other assets
$72,384Total liabilities and capital
$62,571Total liabilities
$62,025Total deposits
$52,146Interest-bearing deposits
$62,025Deposits held in domestic offices
88.15%% insured (estimated)
$450Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$96All other liabilities
$9,813Total equity capital
$9,813Total bank equity capital
$9,813Perpetual preferred stock
$0Common stock
$3,767Surplus
$6,130Undivided profits
Memoranda
$-84Noncurrent loans and leases
$8,207Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,162Earning assets
$0Long-term assets (5+ years)
$225Average Assets, year-to-date
$63,594Average Assets, quarterly
$11,126Volatile liabilities
$69,557Insider loans
$74,085FHLB advances
$18,606Loans and leases held for sale
$1,967Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,207Total unused commitments
$2,461Restructured Loans and leases
$769Derivatives

Income and Expense (December 31, 2009)

Dollar figures in thousands
$3,166Total interest income
$1,067Total interest expense
$2,099Net interest income
$225Provision for loan and lease losses
$129Total noninterest income
$0Fiduciary activities
$71Service charges on deposit accounts
$0Trading account gains & fees
$58Additional noninterest income
$2,037Total noninterest expense
$983Salaries and employee benefits
$275Premises and equipment expense
$779Additional noninterest expense
-$34Pre-tax net operating income
$71Securities gains (losses)
$30Applicable income taxes
$7Income before extraordinary items
$0Extraordinary gains - net
$7Net income attributable to bank
$0Net charge-offs
$7Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2009)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.37%Yield on earning assets
1.81%Cost of funding earning assets
3.56%Net interest margin
0.22%Noninterest income to earning assets
3.46%Noninterest expense to earning assets
-0.06%Net operating income to assets
0.01%Return on assets (ROA)
0.05%Pretax return on assets
0.07%Return on equity (ROE)
0.07%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
90,619Assets per employee
4.83%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.40%Loss allowance to noncurrent loans
66.18%Noncurrent assets plus other real estate owned to assets
1.94%Noncurrent loans to loans
2.12%Net loans and leases to deposits
87.02%Net loans and leases to core deposits
123.03%Equity capital to assets
13.56%Core capital (leverage) ratio
9.33%Tier 1 risk-based capital ratio
10.66%Total risk-based capital ratio
Memoranda
$12Average assets
$69,557Average earning assets
$9,828Average equity
$58,933Average loans

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