Florida Community Bank (merged into Synovus Bank)
Florida Community Bank reported total assets of $12.4 bn at Q4 2018, its last Call Report before it merged into Synovus Bank. The CET1 capital ratio at Florida Community Bank was 11.12%, and the uninsured share of Florida Community Bank was 32.43%. Source: FDIC Call Reports.
Key takeaways
- Since , Florida Community Bank has taken over one institution; the latest was Floridian Community Bank, Inc. on (FDIC Call Reports).
What sets Florida Community Bank apart
How large is Florida Community Bank?
The balance sheet of Florida Community Bank at : assets $12.4 bn, deposits $10.9 bn, net loans $9.4 bn (loans equal to 86.06% of deposits). Securities make up 17.9% of total assets at Florida Community Bank. Since , when Florida Community Bank held $7.7 bn, its assets grew 61.6%. In the year to , deposits at Florida Community Bank rose 25.4% while its total assets rose 18.4%. At , Florida Community Bank employed 712 full-time equivalent staff across 54 offices, about $17.4 mn of assets per employee and $201.7 mn of deposits per office.
How much funding at Florida Community Bank is uninsured?
At Florida Community Bank, uninsured deposits (above the FDIC limit) made up 32.43% of domestic deposits at (-1.21 pp on a year earlier). In dollars, Florida Community Bank estimated $3.5 bn of uninsured deposits.
Key facts, Q4 2018
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $10.9 bn | $8.7 bn (Q4 2017) | |
| Net loans and leases | $9.4 bn | $7.9 bn (Q4 2017) | |
| Loan-to-deposit ratio | 86.06% | 91.47% (Q4 2017) | |
| Tier 1 leverage ratio | 9.55% | 9.19% (Q4 2017) | |
| Total risk-based capital ratio | 11.61% | 10.97% (Q4 2017) | |
| Net interest margin | 3.19% | 3.15% (Q4 2017) | |
| Return on assets (ROA) | 1.52% | 1.25% (Q4 2017) | |
| Efficiency ratio | 37.63% | 41.48% (Q4 2017) | |
| Unrealized gain/loss on available-for-sale securities | Loss of $50.4 mn | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 0.36% | 0.21% (Q4 2017) | |
| Net charge-offs to average loans | 0.14% | 0.00% (Q4 2017) |
US rank of Florida Community Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Florida Community Bank: assets, deposits and loans
- Total assets $12.4bn
- Deposits $10.9bn
- Net loans $9.4bn
Capital and securities
The CET1 ratio of Florida Community Bank stood at 11.12% in , +0.69 pp year on year. Low and high at Florida Community Bank since : 10.43% () to 11.14% (). Equity capital of Florida Community Bank at : $1.3 bn, or 10.3% of total assets. Florida Community Bank also reported a total capital ratio of 11.61% for , and a tier 1 leverage ratio of 9.55%.
The available-for-sale portfolio of Florida Community Bank showed an unrealized loss of $50.4 mn at ; the loss turned from a gain into a loss over the year.
Florida Community Bank: capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 9.5%
Florida Community Bank: unrealized securities gains and losses
- Available for sale -$50mn
- Held to maturity $0
Profitability and loan quality
For the year to , Florida Community Bank earned a return on equity of 14.98%; return on assets: 1.52%. Net interest margin at Florida Community Bank: 3.19%, +0.04 pp in a year. Florida Community Bank net income: $177.9 mn, up 45.9% year on year. The efficiency ratio of Florida Community Bank was 37.63%: about 38 cents cost per revenue dollar, against 57 cents at the median peer.
At , noncurrent loans were 0.36% of total loans at Florida Community Bank; net charge-offs: 0.14% of average loans. Gross loans and leases at Florida Community Bank: $9.4 bn at , against $8.0 bn at .
Florida Community Bank: profitability
- Return on equity 15%
- Net interest margin 3.2%
- Return on assets 1.5%
Peer group of Florida Community Bank
The peer group of Florida Community Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Florida Community Bank (national bank) and 1 has its head office in Florida. Against them, Florida Community Bank shows CET1 ratio 11.12% against a peer median of 12.56%, return on equity 14.98% against a peer median of 9.43% and uninsured deposit share 32.43% against a peer median of 30.13%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Fulton Bank | National bank | PA | $12.6 bn | 10.85% | 9.05% | 28.09% | |
| United Community Bank | State member bank | SC | $12.5 bn | 12.91% | 11.91% | 31.04% | |
| WesBanco Bank, Inc. | State nonmember bank | WV | $12.4 bn | 13.30% | 9.10% | 19.71% | |
| Florida Community Bank | National bank | FL | $12.4 bn | 11.12% | 14.98% | 32.43% | |
| SouthState Bank | National bank | FL | $12.3 bn | 12.21% | 9.75% | 30.64% | |
| FirstBank Puerto Rico | State nonmember bank | PR | $12.2 bn | 18.76% | 9.93% | 29.74% | |
| Berkshire Bank | State nonmember bank | MA | $12.2 bn | 11.57% | 7.42% | 30.52% | |
. FDIC Call Reports.
Last eight quarters
Two years at Florida Community Bank, to : assets $9.4 bn to $12.4 bn, deposits $7.7 bn to $10.9 bn, equity $935.3 mn to $1.3 bn. Staff 638 to 712; offices 48 to 54.
| Metric | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $9.4 bn | $9.7 bn | $10.0 bn | $10.5 bn | $11.5 bn | $12.0 bn | $12.3 bn | $12.4 bn |
| Total deposits | $7.7 bn | $7.7 bn | $8.1 bn | $8.7 bn | $9.5 bn | $9.9 bn | $10.2 bn | $10.9 bn |
| Bank equity capital | $935.3 mn | $980.9 mn | $1.0 bn | $1.0 bn | $1.2 bn | $1.2 bn | $1.3 bn | $1.3 bn |
| CET1 ratio | 10.92% | 10.90% | 10.83% | 10.43% | 10.54% | 10.59% | 10.69% | 11.12% |
| Return on equity (ROE) | 17.46% | 16.19% | 15.11% | 12.59% | 15.47% | 15.20% | 15.20% | 14.98% |
| Uninsured share of domestic deposits | 8.19% | 8.80% | 8.05% | 33.64% | 32.45% | 31.71% | 30.06% | 32.43% |
| Full-time equivalent employees | 638 | 679 | 685 | 708 | 746 | 739 | 736 | 712 |
| Number of offices | 48 | 48 | 48 | 48 | 53 | 52 | 52 | 54 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Florida Community Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Floridian Community Bank, Inc. (FDIC certificate 57382).
- . Merged into Synovus Bank (FDIC certificate 873).
Questions and identifiers
What were the total assets of Florida Community Bank?
Florida Community Bank reported $12.4 bn at in its Call Report.
Is Florida Community Bank the same as its holding company?
No. This page covers Florida Community Bank, FDIC certificate 58991; FCB FINANCIAL HOLDINGS INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Florida Community Bank profitable?
Florida Community Bank reported net income of $177.9 mn for the year to ; annualized return on equity: 14.98%. So yes: Florida Community Bank made a profit over these months.
When is data for Florida Community Bank next updated?
Florida Community Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Florida Community Bank?
In the FDIC BankFind Suite record for certificate 58991, and in the Call Reports of Florida Community Bank (RSSD ID 4041421) at the FFIEC Central Data Repository.