Republic Security Bank in West Palm Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 24, 2001

  • Republic Security Bank in West Palm Beach, Florida (FL)
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Republic Security Bank - Overview

  • General
  • FDIC Certificate #: 32254
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Wachovia Bank, National Association (#817)
    Federal Reserve ID: 198671
    Date Established: November 08, 1984
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 94 (Interstate: No)
    OTS Docket #: 8055
    FDIC's unique #: 45088
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    SAIF Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: November 08, 1984
    Last Structure Change Effective Date: August 24, 2001
    Last Structure Change Process Date: September 05, 2001
    Last Data Update: September 05, 2001
    Data Source Date: April 05, 2012
  • Location
  • Address: 450 South Australian Avenue, West Palm Beach, FL 33401
    County: Palm Beach
    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
    Metropolitan Statistical Area (MSA): West Palm Beach-Boca Raton, FL (#8960)
    Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    Core Based Statistical Division: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
  • Financial Summary
  • Total assets: $2,639.9 mil

1992 - 1999 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, 2000)

  • Dollar figures in thousands
  • 879Total employees (full-time equivalent)
  • $3,117,309Total assets
  • $100,428Cash and due from depository institutions
  • $18,926Interest-bearing balances
  • $778,244Securities
  • $578Federal funds sold & reverse repurchase agreements
  • $2,044,612Net loans & leases
  • $22,154Loan loss allowance
  • $0Trading account assets
  • $57,665Bank premises and fixed assets
  • $710Other real estate owned
  • $21,792Goodwill and other intangibles
  • $0Life insurance assets
  • $113,280All other assets
  • $3,117,309Total liabilities and capital
  • $2,898,399Total liabilities
  • $2,077,032Total deposits
  • $1,735,886Interest-bearing deposits
  • $2,077,032Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $315,497Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $484,782Other borrowed funds
  • $379Subordinated debt
  • $20,709All other liabilities
  • $218,910Total equity capital
  • $218,910Total bank equity capital
  • $218,910Perpetual preferred stock
  • $0Common stock
  • $33,883Surplus
  • $98,060Undivided profits
  • Memoranda
  • $86,967Noncurrent loans and leases
  • $324,077Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $9,484Earning assets
  • $1,316Long-term assets (5+ years)
  • $13,133Average Assets, year-to-date
  • $2,842,360Average Assets, quarterly
  • $1,573,740Volatile liabilities
  • $3,257,157Insider loans
  • $3,252,409FHLB advances
  • $584,883Loans and leases held for sale
  • $1,238Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $250,000Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $324,077Total unused commitments
  • $0Restructured Loans and leases
  • $22,533Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $232,899Total interest income
  • $142,131Total interest expense
  • $90,768Net interest income
  • $3,700Provision for loan and lease losses
  • $35,655Total noninterest income
  • $914Fiduciary activities
  • $16,497Service charges on deposit accounts
  • $0Trading account gains & fees
  • $18,244Additional noninterest income
  • $89,057Total noninterest expense
  • $39,923Salaries and employee benefits
  • $20,003Premises and equipment expense
  • $29,131Additional noninterest expense
  • $33,666Pre-tax net operating income
  • $1,742Securities gains (losses)
  • $11,904Applicable income taxes
  • $23,504Income before extraordinary items
  • $0Extraordinary gains - net
  • $23,504Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $5,777Sale, conversion, retirement of capital stock, net
  • $20,750Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.86%Yield on earning assets
  • 4.80%Cost of funding earning assets
  • 3.06%Net interest margin
  • 1.20%Noninterest income to earning assets
  • 3.01%Noninterest expense to earning assets
  • 0.69%Net operating income to assets
  • 0.72%Return on assets (ROA)
  • 1.09%Pretax return on assets
  • 11.39%Return on equity (ROE)
  • 1.34%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 64.07%Credit loss provision to net charge-offs
  • 6.47%Efficiency ratio
  • 68,847Assets per employee
  • 3.55%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 88.28%Loss allowance to loans
  • 1.07%Loss allowance to noncurrent loans
  • 233.59%Noncurrent assets plus other real estate owned to assets
  • 0.33%Noncurrent loans to loans
  • 0.46%Net loans and leases to deposits
  • 98.44%Net loans and leases to core deposits
  • 111.73%Equity capital to assets
  • 7.02%Core capital (leverage) ratio
  • 6.21%Tier 1 risk-based capital ratio
  • 10.47%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $3,257,157Average earning assets
  • $206,270Average equity
  • $2,963,563Average loans

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