Florida Citizens Bank is headquartered in Gainesville and is the 101st largest bank in the state of Florida. It is also the 2,666th largest bank in the nation. It was established in 1998 and as of December of 2013, it had grown to 87 employees at 8 locations. Florida Citizens Bank has a C health rating.
This is a quote copy and pasted from their online banking page:
"ALERT**Temporary Preauthorized Transactions
Some Debit Card transactions are "preauthorized" by various merchants you are using. These preauthorizations may appear as many as three(3) times on your daily activity reports."
This has caused my debit card purchases to decline several times when in fact I have sufficient funds to cover the transaction.
For example you have $900 in your account. You spend $300 at the grocery store. You then stop to get $45 worth of gas but your card is declined because they held $900 from your grocery store transaction ($300 held 3 times). Now I hope you have enough gas to get home or an account at another bank to get some gas with.
This has happened to me several times with them. When I call them to ask why my card is declined they tell me my account is negative from preauthorization holds from the same transaction. What is even worse they can not even tell you what merchant any pending transactions are from until they actually post to the account post several days later. The online banking website does not even show where the transactions are from. All it shows is "Debit Memo: *PENDING" and the amount, no merchant name so you can not even dispute anything before it actually posts to your account.
They then tell me this is how every bank works. I am a bank employee for another bank and our systems used to do this back when debit cards FIRST came out, but like most banks we upgraded our systems to keep this from happening. They kept their decades old program. When I inform them of this they tell me I do not know what I am talking about (kind of insulting if you ask me since I have been in retail banking operations for almost 20 years) and that all banks are like this.
I would bank with the bank I work for but then my employer would be able to see my account activity. Not really a big deal but my coworkers and the company do not need to see my account. That just makes me uncomfortable or I would bank there. I wish I knew Florida Citizens Bank was like this when I first signed up or I would not have, now I have to wait for my direct deposit to change over to another bank.
Also, I was in Lowes buying a new refrigerator. It was a great deal but the sale ended that day (it was a Sunday). I went to use my debit card to buy the refrigerator but the transaction was declined. Not because of multiple preauthorization holds, but because there is a $1000 daily limit on your card. How is somebody supposed to make a major purchase with that? I wish they had of told me about that before hand. How embarrassing all these declined transactions are getting. The next day when I was able to get Florida Citizens Bank on the phone to tell me about the limit, the sale at Lowes was over and the refrigerator was back at full price several hundred dollars more.
I called the number on the back of my card 352-332-4727 but I get a message saying the switchboard is closed because it is not regular weekday business hours. How am I supposed to even report my card stolen before somebody spends $1000 per day all weekend?
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 Florida Citizens Bank had $10.06 million in non-current loans and owned real-estate with $20.53 million in equity and loan loss allowances on hand to cover it. This gives Florida Citizens Bank a Texas Ratio of 48.98% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Florida Citizens Bank experienced no significant changes from 51.94% as of December 31, 2012 to 48.98% as of December 31, 2013, resulting in a positive change of 5.68%.This indicates that the balance sheet and financial strength for Florida Citizens Bank has had no significant changes in recent periods.
In the past year, Florida Citizens Bank has decreased its total deposits by -$14.02 million, resulting in -6.05% 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 Florida Citizens Bank has shown is below average.
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. Florida Citizens Bank has $237.3 million in assets with $20.53 million in equity, resulting in a capitalization level of 8.65%, which is average.
|FDIC Certificate #||34869|
|Assets and Liabilities|
|Equity Capital||$17.31 million|
|Loan Loss Allowance||$3.23 million|
|Unbacked Noncurrent Loans||$1.95 million|
|Real Estate Owned||$8.11 million|
|Historic Data - December 2012|
|Equity Capital||$20.11 million|
|Loan Loss Allowance||$3.52 million|
|Unbacked Noncurrent Loans||$1.95 million|
|Real Estate Owned||$3.49 million|
|Profit Margin - Quarterly|
|Net Interest Margin||2.95%|
|Return on Assets||0.05%|
|Return on Equity||0.67%|
|Interest Income||$9.34 million|
Always verify rates and promotions with the bank or credit union. We are not Florida Citizens Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.50%||-||-||Regular Savings Account|
|0.50%||-||-||Minor Savings Account|
|0.50%||-||-||Business Savings Account|
|0.45%||-||-||Personal Money Market Account|
|0.45%||-||-||Business Money Market Account|
|0.05%||$300k||-||Personal Fed Fund Money Market|
|0.05%||$300k||-||Business Fed Fund Money Market|
|0.04%||$50k||-||30 Day T Bill Money Market|
|0.04%||$50k||-||Business 30 Day T Bill Money Market|
|0.10%||-||-||NOW Personal Checking|
|0.10%||-||-||Commercial Now Account|
|0.04%||$100k||-||NOW T Bill Tiered|
|1.25%||$1k||-||60 Month CD|
|1.25%||$1k||-||Business 60 Month CD|
|1.05%||$1k||-||48 Month CD|
|1.05%||$1k||-||Business 48 Month CD|
|0.90%||$1k||-||36 Month CD|
|0.90%||$1k||-||Business 36 Month CD|
|0.65%||$1k||-||24 Month CD|
|0.65%||$1k||-||Business 24 Month CD|
|0.40%||$1k||-||18 Month CD|
|0.40%||$1k||-||Business 18 Month CD|
|0.35%||$1k||-||12 Month CD|
|0.35%||$1k||-||Business 12 Month CD|
|0.20%||$1k||-||6 Month CD|
|0.20%||$1k||-||Business 6 Month CD|
|1.25%||$1k||-||60 Month IRA|
|1.05%||$1k||-||48 Month IRA|
|0.90%||$1k||-||36 Month IRA|
|0.65%||$1k||-||24 Month IRA|
|0.40%||$1k||-||18 Month IRA|
|0.40%||$1k||-||18 Month Variable Rate IRA|
|0.35%||$1k||-||12 Month IRA|
|0.20%||$1k||-||6 Month IRA|
|Florida Citizens Bank Locations|
|Micanopy Branch||106 C. N.E. Highway 441||Micanopy, FL 32667|
|Ocklawaha Branch||13489 Southeast County Road 25||Ocklawaha, FL 32179|
|Millhopper Branch||2814 N.W. 43rd Street||Gainesville, FL 32601|
|Marion Oaks Branch||3201 Sw 143rd Place Road||Ocala, FL 34473|
|34th Street Branch||3535 Sw 34th Street||Gainesville, FL 32608|
|Florida Citizens Bank||3919 West Newberry Road||Gainesville, FL 32607|
|Silver Springs Branch||4201 E. Silver Springs Boulevard||Ocala, FL 34470|
|Ocala Branch||720 South Pine Street||Ocala, FL 34471|
|State Road 200 Branch||8920 Sw State Road 200||Ocala, FL 34481|