FDIC Certificate #: 32536 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Iberiabank (#28100) Federal Reserve ID: 147174 Date Established: May 01, 1987 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 7 (Interstate: No) OTS Docket #: 8402 FDIC's unique #: 45370 Numeric code: 13 Regulator: FED 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: May 01, 1987 Last Structure Change Effective Date: July 23, 2010 Last Structure Change Process Date: July 26, 2010 Last Data Update: July 26, 2010 Data Source Date: April 05, 2012
Location
Address: 1189 Hypoluxo Road, Lantana, FL 33462 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: $355.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
62Total employees (full-time equivalent)
$385,307Total assets
$48,685Cash and due from depository institutions
$46,536Interest-bearing balances
$53,267Securities
$5,004Federal funds sold & reverse repurchase agreements
$246,263Net loans & leases
$10,741Loan loss allowance
$0Trading account assets
$21,638Bank premises and fixed assets
$2,414Other real estate owned
$36Goodwill and other intangibles
$2,449Life insurance assets
$8,000All other assets
$385,307Total liabilities and capital
$374,848Total liabilities
$344,267Total deposits
$319,440Interest-bearing deposits
$344,267Deposits held in domestic offices
75.87%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$25,164Other borrowed funds
$4,000Subordinated debt
$1,417All other liabilities
$10,459Total equity capital
$10,459Total bank equity capital
$10,459Perpetual preferred stock
$0Common stock
$1Surplus
$30,099Undivided profits
Memoranda
$-19,641Noncurrent loans and leases
$10,965Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$20,632Earning assets
$0Long-term assets (5+ years)
$1,228Average Assets, year-to-date
$351,070Average Assets, quarterly
$54,369Volatile liabilities
$391,333Insider loans
$378,424FHLB advances
$137,056Loans and leases held for sale
$1,491Unused loan commitments
$24,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$10,965Total unused commitments
$14,565Restructured Loans and leases
$7,623Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$17,506Total interest income
$10,250Total interest expense
$7,256Net interest income
$14,266Provision for loan and lease losses
$631Total noninterest income
$0Fiduciary activities
$249Service charges on deposit accounts
$0Trading account gains & fees
$382Additional noninterest income
$10,333Total noninterest expense
$4,612Salaries and employee benefits
$1,604Premises and equipment expense
$4,117Additional noninterest expense
-$16,712Pre-tax net operating income
-$2,216Securities gains (losses)
$0Applicable income taxes
-$18,928Income before extraordinary items
$0Extraordinary gains - net
-$18,928Net income attributable to bank
$0Net charge-offs
-$18,928Cash dividends
$14,517Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.91%Yield on earning assets
2.87%Cost of funding earning assets
2.04%Net interest margin
0.18%Noninterest income to earning assets
2.90%Noninterest expense to earning assets
-4.27%Net operating income to assets
-4.84%Return on assets (ROA)
-4.84%Pretax return on assets
-81.74%Return on equity (ROE)
-81.74%Retained earnings to average equity (YTD only)
5.27%Net charge-offs to loans
98.27%Credit loss provision to net charge-offs
-0.17%Efficiency ratio
131,013Assets per employee
6.21%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.18%Loss allowance to noncurrent loans
52.06%Noncurrent assets plus other real estate owned to assets
6.81%Noncurrent loans to loans
8.03%Net loans and leases to deposits
71.53%Net loans and leases to core deposits
118.28%Equity capital to assets
2.71%Core capital (leverage) ratio
3.78%Tier 1 risk-based capital ratio
4.92%Total risk-based capital ratio
Memoranda
$8Average assets
$391,333Average earning assets
$23,156Average equity
$356,529Average loans
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