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Overview / Commentary
7301 West Palmetto Park Road
Boca Raton, FL 33434

First Southern Bank (FL) is headquartered in Boca Raton and is the 23rd largest bank in the state of Florida. It is also the 631st largest bank in the nation. It was established in 1987 and as of December of 2013, it had grown to 192 employees at 17 locations. First Southern Bank (FL) has a A health rating.

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Southern Bank (FL) had $13.72 million in non-current loans and owned real-estate with $166.54 million in equity and loan loss allowances on hand to cover it. This gives First Southern Bank (FL) a Texas Ratio of 8.24% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for First Southern Bank (FL) decreased dramatically from 47.16% as of December 31, 2012 to 8.24% as of December 31, 2013, resulting in a positive change of 82.53%.This indicates that the balance sheet and financial strength for First Southern Bank (FL) has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, First Southern Bank (FL) has increased its total deposits by $39.18 million, resulting in 4.62% 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 First Southern Bank (FL) has shown is excellent.

Capitalization

GRADE:
A+

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. First Southern Bank (FL) has $1.04 billion in assets with $166.54 million in equity, resulting in a capitalization level of 15.95%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #27044
Year Established1987
Employees192
Primary RegulatorFED
Assets and Liabilities
Assets$1.04 billion
Loans$622.62 million
Deposits$887.00 million
Equity Capital$153.66 million
Loan Loss Allowance$12.88 million
Unbacked Noncurrent Loans$12.95 million
Real Estate Owned$774,000
Historic Data - December 2012
Assets$1.01 billion
Equity Capital$156.93 million
Loan Loss Allowance$20.17 million
Unbacked Noncurrent Loans$12.95 million
Real Estate Owned$10.48 million
Profit Margin - Quarterly
Net Interest Margin3.53%
Return on Assets0.3%
Return on Equity1.97%
Interest Income$36.74 million
Rates

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Locations

First Southern Bank (FL) has 17 locations. Click to view all First Southern Bank (FL) locations.