The American Bank of the South in Merritt Island, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 06, 1996

  • The American Bank of the South in Merritt Island, Florida (FL)
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The American Bank of the South - Overview

  • General
  • FDIC Certificate #: 20259
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: 1st United Bank (#27136)
    Federal Reserve ID: 474236
    Date Established: September 25, 1970
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 16 (Interstate: No)
    OTS Docket #: 9325
    FDIC's unique #: 13938
    Numeric code: 21
    Regulator: FDIC
    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: September 25, 1970
    Last Structure Change Effective Date: January 06, 1996
    Last Structure Change Process Date: Febuary 09, 1996
    Last Data Update: Febuary 09, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 1350 North Courtenay Parkway, Merritt Island, FL 32953
    County: Brevard
    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): Melbourne-Titusville-Palm Bay, FL (#4900)
    Core Based Statistical Area (CBSA): Palm Bay-Melbourne-Titusville, FL (#37340)
    CBSA Metro Statistical Area: Palm Bay-Melbourne-Titusville, FL (#37340)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $163.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $140Total assets
  • $163,617Cash and due from depository institutions
  • $7,811Interest-bearing balances
  • $0Securities
  • $46,278Federal funds sold & reverse repurchase agreements
  • $17,828Net loans & leases
  • $73,645Loan loss allowance
  • $3,139Trading account assets
  • $0Bank premises and fixed assets
  • $7,690Other real estate owned
  • $5,921Goodwill and other intangibles
  • $4,444Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $163,617Total liabilities
  • $153,276Total deposits
  • $152,275Interest-bearing deposits
  • $106,072Deposits held in domestic offices
  • 152275.00%% insured (estimated)
  • $97Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $1,001Total equity capital
  • $1,001Total bank equity capital
  • $10,341Perpetual preferred stock
  • $0Common stock
  • $1,078Surplus
  • $3,587Undivided profits
  • Memoranda
  • $5,676Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,468Income earned, not collected on loans
  • $558Earning assets
  • $137,751Long-term assets (5+ years)
  • $18,566Average Assets, year-to-date
  • $170,812Average Assets, quarterly
  • $165,037Volatile liabilities
  • $2,355Insider loans
  • $4,252FHLB advances
  • $0Loans and leases held for sale
  • $861Unused loan commitments
  • $2,983Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $8,959Total risk weighted assets
  • $91,337Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $11,335Total interest expense
  • $3,869Net interest income
  • $7,466Provision for loan and lease losses
  • $785Total noninterest income
  • $5,849Fiduciary activities
  • $0Service charges on deposit accounts
  • $2,491Trading account gains & fees
  • $0Additional noninterest income
  • $3,358Total noninterest expense
  • $13,291Salaries and employee benefits
  • $3,894Premises and equipment expense
  • $1,244Additional noninterest expense
  • $8,153Pre-tax net operating income
  • -$761Securities gains (losses)
  • $231Applicable income taxes
  • $132Income before extraordinary items
  • -$662Extraordinary gains - net
  • $0Net income attributable to bank
  • -$662Net charge-offs
  • $1,869Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.22%Cost of funding earning assets
  • 2.81%Net interest margin
  • 5.41%Noninterest income to earning assets
  • 4.24%Noninterest expense to earning assets
  • 9.64%Net operating income to assets
  • -0.52%Return on assets (ROA)
  • -0.39%Pretax return on assets
  • -0.31%Return on equity (ROE)
  • -6.33%Retained earnings to average equity (YTD only)
  • -6.33%Net charge-offs to loans
  • 2.24%Credit loss provision to net charge-offs
  • 42.00%Efficiency ratio
  • 99,820Assets per employee
  • 1.17%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.09%Loss allowance to noncurrent loans
  • 25.18%Noncurrent assets plus other real estate owned to assets
  • 8.94%Noncurrent loans to loans
  • 16.24%Net loans and leases to deposits
  • 48.36%Net loans and leases to core deposits
  • 49.12%Equity capital to assets
  • 6.32%Core capital (leverage) ratio
  • 5.17%Tier 1 risk-based capital ratio
  • 9.81%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $170,812Average earning assets
  • $10,466Average equity
  • $137,893Average loans

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