Sun American Bank in Boca Raton, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 05, 2010

  • Sun American Bank in Boca Raton, Florida (FL)
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Sun American Bank - Overview

  • General
  • FDIC Certificate #: 27126
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: First-Citizens Bank & Trust Company (#11063)
    Federal Reserve ID: 1160732
    Date Established: December 04, 1987
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 13 (Interstate: No)
    FDIC's unique #: 38828
    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: December 04, 1987
    Last Structure Change Effective Date: March 05, 2010
    Last Structure Change Process Date: March 09, 2010
    Last Data Update: March 09, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 9293 Glades Road, Boca Raton, FL 33434
    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)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $535.7 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
  • 118Total employees (full-time equivalent)
  • $535,724Total assets
  • $36,087Cash and due from depository institutions
  • $30,466Interest-bearing balances
  • $69,126Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $404,633Net loans & leases
  • $19,486Loan loss allowance
  • $0Trading account assets
  • $8,654Bank premises and fixed assets
  • $10,149Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $7,075All other assets
  • $535,724Total liabilities and capital
  • $527,011Total liabilities
  • $443,481Total deposits
  • $424,783Interest-bearing deposits
  • $443,481Deposits held in domestic offices
  • 92.68%% insured (estimated)
  • $32,854Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $48,000Other borrowed funds
  • $0Subordinated debt
  • $2,676All other liabilities
  • $8,713Total equity capital
  • $8,713Total bank equity capital
  • $8,713Perpetual preferred stock
  • $0Common stock
  • $100,636Surplus
  • $4,549Undivided profits
  • Memoranda
  • $-96,472Noncurrent loans and leases
  • $13,043Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $71,670Earning assets
  • $0Long-term assets (5+ years)
  • $1,781Average Assets, year-to-date
  • $504,225Average Assets, quarterly
  • $131,996Volatile liabilities
  • $572,867Insider loans
  • $545,429FHLB advances
  • $188,080Loans and leases held for sale
  • $5,724Unused loan commitments
  • $48,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $13,043Total unused commitments
  • $7,379Restructured Loans and leases
  • $5,422Derivatives
  • $3Total assets and liabilities in foreign offices

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $25,990Total interest income
  • $14,506Total interest expense
  • $11,484Net interest income
  • $31,895Provision for loan and lease losses
  • $57Total noninterest income
  • $0Fiduciary activities
  • $1,085Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,028Additional noninterest income
  • $20,567Total noninterest expense
  • $7,441Salaries and employee benefits
  • $5,002Premises and equipment expense
  • $8,124Additional noninterest expense
  • -$40,921Pre-tax net operating income
  • $882Securities gains (losses)
  • $0Applicable income taxes
  • -$40,039Income before extraordinary items
  • $0Extraordinary gains - net
  • -$40,039Net income attributable to bank
  • $0Net charge-offs
  • -$40,039Cash dividends
  • $18,972Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.79%Yield on earning assets
  • 2.67%Cost of funding earning assets
  • 2.12%Net interest margin
  • 0.01%Noninterest income to earning assets
  • 3.79%Noninterest expense to earning assets
  • -7.14%Net operating income to assets
  • -6.99%Return on assets (ROA)
  • -6.99%Pretax return on assets
  • -138.11%Return on equity (ROE)
  • -138.11%Retained earnings to average equity (YTD only)
  • 4.22%Net charge-offs to loans
  • 168.12%Credit loss provision to net charge-offs
  • -0.48%Efficiency ratio
  • 178,208Assets per employee
  • 4.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.59%Loss allowance to noncurrent loans
  • 27.19%Noncurrent assets plus other real estate owned to assets
  • 15.27%Noncurrent loans to loans
  • 16.90%Net loans and leases to deposits
  • 91.24%Net loans and leases to core deposits
  • 122.89%Equity capital to assets
  • 1.63%Core capital (leverage) ratio
  • 1.74%Tier 1 risk-based capital ratio
  • 2.33%Total risk-based capital ratio
  • Memoranda
  • $4Average assets
  • $572,867Average earning assets
  • $28,991Average equity
  • $542,603Average loans

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