Providence Bank in Winter Haven, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 30, 2009

Providence Bank in Winter Haven, Florida (FL)
Show street view No street view available for this location

Providence Bank - Overview

General
FDIC Certificate #: 58043
Status: Inactive
Closing history: Absorption - Without Assistance
Acquiring institution: Florida Traditions Bank (#58682)
Federal Reserve ID: 3383982
Date Established: September 30, 2005
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 437010
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: September 30, 2005
Last Structure Change Effective Date: May 30, 2009
Last Structure Change Process Date: June 08, 2009
Last Data Update: June 08, 2009
Data Source Date: April 05, 2012
Location
Address: 1501 First Street South, Winter Haven, FL 33880
County: Polk
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): Lakeland-Winter Haven, FL (#3980)
Core Based Statistical Area (CBSA): Lakeland-Winter Haven, FL (#29460)
CBSA Metro Statistical Area: Lakeland-Winter Haven, FL (#29460)
Financial Summary
Total assets: $50.3 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
11Total employees (full-time equivalent)
$42,741Total assets
$3,996Cash and due from depository institutions
$3,712Interest-bearing balances
$4,206Securities
$0Federal funds sold & reverse repurchase agreements
$33,370Net loans & leases
$536Loan loss allowance
$0Trading account assets
$227Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$942All other assets
$42,741Total liabilities and capital
$37,652Total liabilities
$31,508Total deposits
$28,003Interest-bearing deposits
$31,508Deposits held in domestic offices
0.00%% insured (estimated)
$581Federal funds purchased & repurchase agreements
$0Trading liabilities
$5,350Other borrowed funds
$0Subordinated debt
$213All other liabilities
$5,089Total equity capital
$5,089Total bank equity capital
$5,089Perpetual preferred stock
$0Common stock
$4,057Surplus
$3,925Undivided profits
Memoranda
$-2,893Noncurrent loans and leases
$5,584Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,007Earning assets
$0Long-term assets (5+ years)
$141Average Assets, year-to-date
$41,288Average Assets, quarterly
$5,133Volatile liabilities
$36,586Insider loans
$42,272FHLB advances
$12,382Loans and leases held for sale
$1,912Unused loan commitments
$5,350Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,584Total unused commitments
$0Restructured Loans and leases
$413Derivatives

Income and Expense (December 31, 2008)

Dollar figures in thousands
$2,009Total interest income
$1,119Total interest expense
$890Net interest income
$284Provision for loan and lease losses
$47Total noninterest income
$0Fiduciary activities
$18Service charges on deposit accounts
$0Trading account gains & fees
$29Additional noninterest income
$1,736Total noninterest expense
$990Salaries and employee benefits
$283Premises and equipment expense
$463Additional noninterest expense
-$1,083Pre-tax net operating income
$0Securities gains (losses)
-$309Applicable income taxes
-$774Income before extraordinary items
$0Extraordinary gains - net
-$774Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$19Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2008)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.70%Yield on earning assets
3.18%Cost of funding earning assets
2.53%Net interest margin
0.13%Noninterest income to earning assets
4.93%Noninterest expense to earning assets
-2.12%Net operating income to assets
-2.12%Return on assets (ROA)
-2.96%Pretax return on assets
-15.01%Return on equity (ROE)
-15.01%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
1494.74%Credit loss provision to net charge-offs
-42.05%Efficiency ratio
185,272Assets per employee
3.89%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.58%Loss allowance to noncurrent loans
53.23%Noncurrent assets plus other real estate owned to assets
2.36%Noncurrent loans to loans
2.97%Net loans and leases to deposits
105.91%Net loans and leases to core deposits
169.33%Equity capital to assets
11.91%Core capital (leverage) ratio
11.43%Tier 1 risk-based capital ratio
14.87%Total risk-based capital ratio
Memoranda
$16Average assets
$36,586Average earning assets
$5,156Average equity
$35,216Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Providence Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.