Charlotte State Bank & Trust is headquartered in Port Charlotte and is the 78th largest bank in the state of Florida. It is also the 2,312st largest bank in the nation. It was established in 1987 and as of March of 2014, it had grown to 84 employees at 5 locations. Charlotte State Bank & Trust has a B health rating.
I have banked with Charlotte State Bank for over ten years. I moved to Sarasota County eight years ago and consider the forty mile drive, when necessary, more than worth it. In 2006 my elderly mother was terminally ill and I spent a great amount of time with her at the hospital. During one of the many emergencies in 2006 my insurance payment was due to come out of my account and I needed to make a deposit to cover it. I called the bank to explain that I was (again) at the emergency room with my mother and would be unable to make the deposit in time. A live customer service representative assured me making the deposit the next day would be fine and any over-draft fee would be waived.
I am grateful to have not just a bank but a bank where computers are there for my covenience and I can always reach a real live human being just as easily. I spend way too much of my life trying to navigate through automated phone systems. I am glad my bank isn't one of them!! Charlotte State Bank is my "home town bank" no matter which town I make my home in.
My father died two years ago and his small estate has still not been finalized. There is an elective share filing and the Elective Share Inventory was erroneously overstated, doubling the actual assets. This is gross negligence by a fiduciary. The Bank has drug this out, racking up trustee fees and lawyer fees, unnecessarily. This should have been completed and disbursements made approximately ten months ago. Instead, by this delay, the widow was able to file for the max family allowance, further depleting the estate. The other beneficiaries, all out of state have had to hired counsel just to protect their interests and have the erroneous elective share inventory corrected. If my father had any idea of the mismanagement of his estate, I am sure he would have looked elsewhere!
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Charlotte State Bank & Trust had $7.84 million in non-current loans and owned real-estate with $27.95 million in equity and loan loss allowances on hand to cover it. This gives Charlotte State Bank & Trust a Texas Ratio of 28.03% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Charlotte State Bank & Trust increased slightly from 19.13% as of March 31, 2013 to 28.03% as of March 31, 2014, resulting in a negative change of 46.55%. This indicates that the balance sheet and financial strength for Charlotte State Bank & Trust has declined slightly in recent periods.
In the past year, Charlotte State Bank & Trust has increased its total deposits by $9.65 million, resulting in 3.98% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Charlotte State Bank & Trust has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Charlotte State Bank & Trust has $279.34 million in assets with $27.95 million in equity, resulting in a capitalization level of 10.01%, which is above average.
|FDIC Certificate #||27086|
|Assets and Liabilities|
|Equity Capital||$23.53 million|
|Loan Loss Allowance||$4.42 million|
|Unbacked Noncurrent Loans||$7.48 million|
|Real Estate Owned||$355,000|
|Historic Data - March 2013|
|Equity Capital||$23.90 million|
|Loan Loss Allowance||$5.22 million|
|Unbacked Noncurrent Loans||$7.48 million|
|Real Estate Owned||$1.05 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.43%|
|Return on Assets||1.24%|
|Return on Equity||14.7%|
|Interest Income||$2.32 million|
Sorry, we do not have rate data for Charlotte State Bank & Trust
|Charlotte State Bank & Trust Locations|
|Charlotte State Bank & Trust||1100 Tamiami Trail||Port Charlotte, FL 33953|
|Harborview Branch||23112 Harborview Road||Port Charlotte, FL 33980|
|Punta Gorda Branch||2331 Tamiami Trail||Punta Gorda, FL 33950|
|Peachland Branch||24163 Peachland Boulevard||Port Charlotte, FL 33954|
|Mid-Town Branch||3002 Tamiami Trail||Port Charlotte, FL 33952|