FDIC Certificate #: 25155 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:CharterBank (#30720) Federal Reserve ID: 252836 Date Established: June 01, 1984 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 8 (Interstate: No) OTS Docket #: 11324 FDIC's unique #: 17405 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: June 01, 1984 Last Structure Change Effective Date: September 09, 2011 Last Structure Change Process Date: September 12, 2011 Last Data Update: September 12, 2011 Data Source Date: April 05, 2012
Location
Address: 6512 Caroline Street, S. W., Milton, FL 32570 County: Santa Rosa Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Pensacola Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Pensacola, FL (#6080) Core Based Statistical Area (CBSA): Pensacola-Ferry Pass-Brent, FL (#37860) CBSA Metro Statistical Area: Pensacola-Ferry Pass-Brent, FL (#37860)
Financial Summary
Total assets: $296.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
81Total employees (full-time equivalent)
$313,215Total assets
$32,112Cash and due from depository institutions
$29,630Interest-bearing balances
$36,747Securities
$0Federal funds sold & reverse repurchase agreements
$193,910Net loans & leases
$9,684Loan loss allowance
$0Trading account assets
$544Bank premises and fixed assets
$31,330Other real estate owned
$0Goodwill and other intangibles
$298Life insurance assets
$18,572All other assets
$313,215Total liabilities and capital
$292,081Total liabilities
$289,088Total deposits
$267,254Interest-bearing deposits
$289,088Deposits held in domestic offices
95.45%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,453Other borrowed funds
$0Subordinated debt
$1,540All other liabilities
$21,134Total equity capital
$21,134Total bank equity capital
$21,134Perpetual preferred stock
$0Common stock
$3,455Surplus
$8,691Undivided profits
Memoranda
$8,988Noncurrent loans and leases
$3,625Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$61,709Earning assets
$0Long-term assets (5+ years)
$1,054Average Assets, year-to-date
$260,287Average Assets, quarterly
$31,891Volatile liabilities
$338,928Insider loans
$317,335FHLB advances
$65,078Loans and leases held for sale
$940Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,625Total unused commitments
$10,054Restructured Loans and leases
$3,077Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$11,821Total interest income
$5,410Total interest expense
$6,411Net interest income
$7,950Provision for loan and lease losses
$1,740Total noninterest income
$0Fiduciary activities
$855Service charges on deposit accounts
$0Trading account gains & fees
$885Additional noninterest income
$17,755Total noninterest expense
$4,182Salaries and employee benefits
$2,487Premises and equipment expense
$11,086Additional noninterest expense
-$17,554Pre-tax net operating income
$40Securities gains (losses)
-$6,685Applicable income taxes
-$10,829Income before extraordinary items
$0Extraordinary gains - net
-$10,829Net income attributable to bank
$0Net charge-offs
-$10,829Cash dividends
$9,237Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.11%Yield on earning assets
1.88%Cost of funding earning assets
2.23%Net interest margin
0.61%Noninterest income to earning assets
6.18%Noninterest expense to earning assets
-3.20%Net operating income to assets
-3.20%Return on assets (ROA)
-5.17%Pretax return on assets
-40.90%Return on equity (ROE)
-40.90%Retained earnings to average equity (YTD only)
4.06%Net charge-offs to loans
86.07%Credit loss provision to net charge-offs
-1.04%Efficiency ratio
217,826Assets per employee
3.87%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.76%Loss allowance to noncurrent loans
15.69%Noncurrent assets plus other real estate owned to assets
29.70%Noncurrent loans to loans
30.31%Net loans and leases to deposits
67.08%Net loans and leases to core deposits
86.01%Equity capital to assets
6.75%Core capital (leverage) ratio
4.10%Tier 1 risk-based capital ratio
5.29%Total risk-based capital ratio
Memoranda
$7Average assets
$338,928Average earning assets
$26,478Average equity
$287,466Average loans
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