FDIC Certificate #: 35374 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Vision Bank (#5668) Federal Reserve ID: 2877886 Date Established: March 29, 2000 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 8 (Interstate: No) FDIC's unique #: 78842 Numeric code: 21 Regulator: FDIC 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: March 29, 2000 Last Structure Change Effective Date: July 20, 2007 Last Structure Change Process Date: August 08, 2007 Last Data Update: August 08, 2007 Data Source Date: April 05, 2012
Location
Address: 2201 West First Street, Gulf Shores, AL 36542 County: Baldwin 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): Mobile, AL (#5160) Combined Statistical Area (CSA): Mobile-Daphne-Fairhope, AL (#380) Core Based Statistical Area (CBSA): Daphne-Fairhope-Foley, AL (#19300) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $506.8 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2006)
Dollar figures in thousands
110Total employees (full-time equivalent)
$407,546Total assets
$18,051Cash and due from depository institutions
$0Interest-bearing balances
$17,436Securities
$7,265Federal funds sold & reverse repurchase agreements
$353,793Net loans & leases
$4,284Loan loss allowance
$0Trading account assets
$4,356Bank premises and fixed assets
$52Other real estate owned
$125Goodwill and other intangibles
$1,777Life insurance assets
$6,468All other assets
$407,546Total liabilities and capital
$365,553Total liabilities
$352,942Total deposits
$326,192Interest-bearing deposits
$352,942Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$10,640Other borrowed funds
$0Subordinated debt
$1,971All other liabilities
$41,993Total equity capital
$41,993Total bank equity capital
$41,993Perpetual preferred stock
$0Common stock
$75Surplus
$26,875Undivided profits
Memoranda
$15,043Noncurrent loans and leases
$66,985Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,837Earning assets
$0Long-term assets (5+ years)
$2,586Average Assets, year-to-date
$378,494Average Assets, quarterly
$20,800Volatile liabilities
$404,353Insider loans
$411,654FHLB advances
$101,059Loans and leases held for sale
$26,018Unused loan commitments
$9,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$5,224Total risk weighted assets
$66,985Total unused commitments
$0Restructured Loans and leases
$4,284Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$33,762Total interest income
$11,912Total interest expense
$21,850Net interest income
$715Provision for loan and lease losses
$2,743Total noninterest income
$0Fiduciary activities
$1,430Service charges on deposit accounts
$0Trading account gains & fees
$1,313Additional noninterest income
$11,505Total noninterest expense
$6,308Salaries and employee benefits
$1,775Premises and equipment expense
$3,422Additional noninterest expense
$12,373Pre-tax net operating income
$0Securities gains (losses)
$4,503Applicable income taxes
$7,870Income before extraordinary items
$0Extraordinary gains - net
$7,870Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$190Sale, conversion, retirement of capital stock, net
$529Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.99%Yield on earning assets
3.17%Cost of funding earning assets
5.82%Net interest margin
0.73%Noninterest income to earning assets
3.06%Noninterest expense to earning assets
1.95%Net operating income to assets
1.95%Return on assets (ROA)
3.06%Pretax return on assets
20.62%Return on equity (ROE)
19.24%Retained earnings to average equity (YTD only)
0.06%Net charge-offs to loans
376.32%Credit loss provision to net charge-offs
68.88%Efficiency ratio
46,782Assets per employee
3.70%Cash dividends to net income (YTD only)
Condition Ratios (%)
6.72%Loss allowance to loans
1.20%Loss allowance to noncurrent loans
151.00%Noncurrent assets plus other real estate owned to assets
0.71%Noncurrent loans to loans
0.79%Net loans and leases to deposits
100.24%Net loans and leases to core deposits
138.26%Equity capital to assets
10.30%Core capital (leverage) ratio
10.40%Tier 1 risk-based capital ratio
11.55%Total risk-based capital ratio
Memoranda
$13Average assets
$404,353Average earning assets
$38,160Average equity
$375,675Average loans
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