FDIC Certificate #: 27138 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Southeastern Bank (#5685) Federal Reserve ID: 1161980 Date Established: December 21, 1987 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 3 (Interstate: No) FDIC's unique #: 38851 Numeric code: 13 Regulator: FED Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: December 21, 1987 Last Structure Change Effective Date: June 26, 1998 Last Structure Change Process Date: July 20, 1998 Last Data Update: July 20, 1998 Data Source Date: April 05, 2012
Location
Address: 1376 East State Road 200, Yulee, FL 32097 County: Nassau Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Gainesville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Jacksonville, FL (#3600) Core Based Statistical Area (CBSA): Jacksonville, FL (#27260) CBSA Metro Statistical Area: Jacksonville, FL (#27260)
Financial Summary
Total assets: $42.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
34Total employees (full-time equivalent)
$75,675Total assets
$4,814Cash and due from depository institutions
$0Interest-bearing balances
$24,857Securities
$8,860Federal funds sold & reverse repurchase agreements
$31,506Net loans & leases
$431Loan loss allowance
$0Trading account assets
$2,620Bank premises and fixed assets
$217Other real estate owned
$2,023Goodwill and other intangibles
$0Life insurance assets
$778All other assets
$75,675Total liabilities and capital
$68,190Total liabilities
$66,813Total deposits
$56,193Interest-bearing deposits
$66,813Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$771Other borrowed funds
$0Subordinated debt
$606All other liabilities
$7,485Total equity capital
$7,485Total bank equity capital
$7,485Perpetual preferred stock
$0Common stock
$2,362Surplus
$3,779Undivided profits
Memoranda
$1,344Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$265Earning assets
$76Long-term assets (5+ years)
$216Average Assets, year-to-date
$65,223Average Assets, quarterly
$1,922Volatile liabilities
$74,596Insider loans
$75,562FHLB advances
$8,565Loans and leases held for sale
$1,316Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,601Total unused commitments
$0Restructured Loans and leases
$39,744Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$5,242Total interest income
$2,747Total interest expense
$2,495Net interest income
$115Provision for loan and lease losses
$882Total noninterest income
$0Fiduciary activities
$725Service charges on deposit accounts
$0Trading account gains & fees
$157Additional noninterest income
$2,514Total noninterest expense
$1,116Salaries and employee benefits
$588Premises and equipment expense
$810Additional noninterest expense
$748Pre-tax net operating income
$0Securities gains (losses)
$313Applicable income taxes
$435Income before extraordinary items
$0Extraordinary gains - net
$435Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$116Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.09%Yield on earning assets
4.24%Cost of funding earning assets
3.85%Net interest margin
1.36%Noninterest income to earning assets
3.88%Noninterest expense to earning assets
0.58%Net operating income to assets
0.58%Return on assets (ROA)
1.00%Pretax return on assets
6.07%Return on equity (ROE)
6.07%Retained earnings to average equity (YTD only)
0.37%Net charge-offs to loans
99.14%Credit loss provision to net charge-offs
7.44%Efficiency ratio
69,529Assets per employee
2.23%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.35%Loss allowance to noncurrent loans
162.64%Noncurrent assets plus other real estate owned to assets
0.64%Noncurrent loans to loans
0.83%Net loans and leases to deposits
47.16%Net loans and leases to core deposits
53.38%Equity capital to assets
9.89%Core capital (leverage) ratio
7.35%Tier 1 risk-based capital ratio
13.75%Total risk-based capital ratio
Memoranda
$15Average assets
$74,596Average earning assets
$7,162Average equity
$64,824Average loans
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