We Want to Hear Your Two Cents!
Email your ideas, suggestions and comments to [email protected], give us a call or stop by one
of our conveniently located branches and ask to speak with the branch manager.
DAVIE BRANCH
Our Two Cents
Vol. 1, Issue 3, September 2011
Hello... from Lee Frankhouser
President
Where has the year 2011 gone? We are glad to be back with Issue 3 of “Our Two Cents” and report on the bank’s activity for the
first half of 2011. With this issue you will find the bank’s “Statement of Condition” as of June 30, 2011. Since I reported on a few
new projects in our April issue, those projects have really taken hold and have become impactful to Floridian Community Bank.
The Residential Mortgage Lending Division has generated a healthy pipeline of new loan requests, new software has made the
bank more efficient and effective and the experience and talents of the new officers have made the organization stronger.
The bank has again this past quarter recruited three more new employees who have added depth and capabilities to credit
administration and loan operations. The Floridian Community Bank team is certainly positioned well for the bank’s future.
If you haven’t already done so, I would encourage you to visit the bank’s new website at www.floridiancommunitybank.com.
The website contains great information about the bank, our people and the communities we serve. Thank you once again for
telling your friends and neighbors about Floridian Community Bank and as always feel free to contact me anytime for any
reason at [email protected] or 561-632-7885.
5599 South University Drive • Davie, FL 33328 • 954-434-8050
JUNO BRANCH
Bank News
Statement of Condition
Dear Valued Clients:
14235 US Highway 1 • Juno Beach, FL 33408 • 561-630-5778
DELRAY BRANCH
We are pleased to report on our 2011 mid-year financial
results. Despite the challenging economic climate, Floridian
Community Bank (“FCB”) has continued to operate profitably
with pre-tax income of $471,470 for the six months ending
June 30, 2011. Total assets grew to $228.5 Million, Loans to
$157.1 Million, and Deposits to $182.7 Million. Much of the growth
comes from increased market penetration within FCB’s existing
footprint. Consistent with lower interest rates, FCB’s cost of funds
has declined to 1.18%; however, yield on loans has also fallen to
5.93% creating more contraction in our net interest margin.
The Bank’s Tier One Leverage and Total Risk Based capital ratios
rose to 9.01% and 14.40% respectively and exceed the regulatory
threshold required for well capitalized institutions. Two factors
have contributed to the increase in capital, continued earnings and
additional capital investment in the holding company from our
existing shareholder base to support long term expansion plans.
4850 West Atlantic Ave. • Delray Beach, FL 33445 • 561-496-2690
WELLINGTON BRANCH
Given recent market indicators pointing to a stalling economy, we
expect modest balance sheet growth for the remainder of this year.
Despite our interest in the local economy’s welfare, we know that
global conditions must stabilize as well. In the intervening time,
our residential real estate lending division anticipates increased
application activity with 30 year mortgage rates recently reaching
levels not seen in sixdecades. We also expect to roll out new mobile
banking technology in the coming months which will offer you
easier access to your account in a secure environment.
Lastly, we remain committed to serving you not
just through the products we offer, but by always
listening to and understanding your financial needs.
Thank you for your continued patronage,
1314 Greenview Shores Blvd. • Wellington, FL 33414 • 561-333-5773
FloridianCommunityBank.com
Joe Marzouca
Chief Executive Officer
Cash & Due From Banks
Investments
Commercial Loans
Commercial Real Estate Loans
Residential Real Estate & Other
Total Loans
Reserves
Loans, Net of Reserves
Fixed Assets
Other Assets
Total Assets
Checking Accounts
NOW Accounts
Money Market Accounts
Savings
Time Deposits
Total Deposits
Other Borrowings
Other Liabilities
Total Liabilities
Capital
Total Liabilities & Capital
June, 2011
June, 2010
$27,567,498
41,038,526
56,332,806
70,626,131
30,145,111
157,104,048
(3,482,387)
153,621,661
3,538,143
2,768,140
$228,533,968
$16,341,629
39,406,880
47,213,606
68,160,046
32,633,645
148,007,297
(2,790,006)
145,217,291
3,529,736
7,514,320
$212,009,856
37,600,506
3,006,674
109,135,390
854,707
32,175,987
182,773,264
23,315,443
917,234
207,005,941
21,528,027
$228,533,968
26,002,716
6,097,055
89,632,270
451,895
51,478,940
173,662,876
21,046,083
728,177
195,437,136
16,572,720
$212,009,856
Need To Refinance Or
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Offer of credit is subject to credit approval. *$100 Visa® Rewards Card will be provided if customer calls by Oct 31, 2011 and closes the loan no later than December 31, 2011. Only one reward card per customer.
Please allow 3-4 weeks for delivery of reward card from date of loan closing. This offer does not apply to refinances of existing Floridian Community Bank loans and cannot be combined with any other offer. Floridian
Community Bank reserves the right to substitute incentives of equal value due to availability or other reasons. Refer to Visa ® Reward Card disclosures, which accompany your card for conditions and terms of use.
Visa ® is a registered trademark of Visa, Inc. Visa ® is not a participant or sponsor of this promotion.
General Mortgage Refinance Benefits
How Rich is Rich?
There are numerous reasons why people decide to refinance their mortgages, with the most common
reason for refinancing a mortgage is to save money. A refinance could save you thousands of dollars in
interest, or save money on your outgoing monthly expenditures if you use the refinance to consolidate
other debts. Here’s a look at some of the various advantages a mortgage refinance provides:
Just how wealthy should a person be to be
considered financially self-reliant? To the
question “How Rich is Rich”, there is no
specific answer. It is likely that there will be a
difference in opinion between two persons who
may have the same financial status in life. We
can expect an even obvious difference in
answers between two persons who are not in
the same financial status. Some answers may
sound like the following:
1. Consolidating and saving on other interest costs. A really beneficial use of a mortgage refinance is to
help reduce the amount of money you pay out each month on various accounts. If you can reduce the
overall interest rate in the process, that’s an even greater benefit that you’ll feel over the long-term!
If you have numerous credit cards with balances, the interest rates are eating away at your money,
especially if they have high interest rates. Streamline your debt by paying off credit cards, auto loans
and personal loans with your refinance and improve your monthly cash flow.
2. Lower the interest rate on your existing mortgage. If the market has improved since you obtained
your mortgage and you could save two percentage points or more on your mortgage, it’s probably a
good time to consider refinancing your mortgage to take advantage of the lower interest rates. If you
have good credit, you may even be able to avoid paying the closing costs, which make the refinance
even more desirable. A mortgage with a lower interest rate will result in lower monthly payments,
which is a major selling point to individuals who are struggling to keep up with their payments.
3. Converting Adjustable-Rate-Mortgages into Fixed-Rate mortgages. Often times, people get an
adjustable rate mortgage because they’re extremely attractive when they first get it- with low interest
and payments. As the interest rates rise, though, the outcome is a mortgage payment most people can’t
afford. Refinancing an adjustable rate mortgage into a sensible fixed-rate mortgage is often a necessity
for out of control adjustable rate mortgages.
4. Changing life situations may create a beneficial opportunity to restructure the length of your
mortgage term. When you close on your house, your life is in a certain phase, and your financial
situation as well as many other aspects having to do with your life may change as time goes on. If
you’ve advanced in your career and you have a better cash flow than you had originally, you might
choose to decrease the length of your mortgage term to fifteen years in order to save on the total interest
you’re paying. Alternatively, if you’re thinking about selling the house, or your financial situation has
taken a turn for the worse, you could choose a longer loan term to reduce what you pay on a monthly
basis and free up some of your money each month.
5. Get your finances back in order. There are times that your financial situation may go downhill quickly
and without warning. For whatever reason, you may find it difficult to keep up with your payments on
your mortgage or other obligations. If you fall behind and begin missing payments, you’re going to find
it even more difficult to get caught up. There is a possibility that you may be able to use a mortgage
refinance to get yourself back on track. If you were to consolidate most of your other creditors into
your mortgage payment, lower your interest and/or extend your loan term- you could create a more
affordable monthly payment that allows you to get back on track financially.
There are many opportunities for benefiting from refinancing your mortgage. Consider your own
financial situation and where you are in your life currently, and determine if a mortgage refinance
would benefit you and put more money into your pocket.
• A person is wealthy if he/she has a net
worth of at least one million dollars.
• A person is wealthy if he/she is
totally debt-free.
• A person is wealthy if he/she can live the
lifestyle he/she chooses to have.
• A person is wealthy if he/she has a house, a
flourishing business, can afford to take trips
every year, and buy most of the
luxuries in life.
• A person is wealthy if he/she can afford
to give to charities.
Actually, there is no line that divides a person’s
financial status to be considered rich or not.
Wealth is in the eye of the beholder. To some
(not necessarily financial wealth), health
is wealth even if their pockets aren’t. Still,
others may consider spiritual wealth as their
foremost priority. Even for the wealthy, there
is never enough wealth. That is why, we see
very wealthy people still continually making
their assets grow. Financially speaking, if you
have income that is higher than your expenses
(including reasonable luxuries) and your asset
value stays ahead of inflation rate, you can
consider yourself to be financially self-reliant.
Financial income does not retire with age.
That is why, there is a need to make money
work for you, which brings us back to the
importance of financial knowledge and why
financial knowledge is better than money itself.
For as long as your financial mind keeps working, there will never be a hole in your pocket.
True wealth is all in the mind.
Our Management Team
Lee Frankhouser, President, Andy Sundaram, SVP, Joseph Marzouca, CEO,
Joanne Gaines, Founding Organizer, Chris England, SVP, Ulises Alonso, SVP/CFO
Residential Mortgage Team
Jeff Meiselman, Susan Lamb, Louise Nelson, Sergio Contreras, Brent Enck
Mortgage Update From
Louise Nelson
Testimonials
Here’s what our customers are saying about us!
“To David Gaines and Carolyn Tamboles,
Thank you all, we just started this bank-customer relationship
but Floridian Community Bank and its employees are providing
a very professional service. It feels as if CGC is not an account
number but a customer. Thanks again”
- Eduardo,
Construct Group Corp.
“Mary and Louise,
I want to thank both of you for all you did to make the First
Time Homebuyer Workshop a success. I felt like the location,
the facility and even the refreshments all lent themselves to a
comfortable and effective teaching environment. I had a lot of
positive feedback from the attendees.
I’ve been out of town at a foreclosure event and this is the first
time I have been in the office since I left there on Wednesday
night so this is the first chance I have had to express my
appreciation. Be assured that I will gladly take advantage of your
hospitality down the road any time you are willing to have more
workshops.”
- Kevin Maher,
Director of Community Education
Certified Credit Counselor
Certified Housing Counselor
The Residential Mortgage Loan Division of
Floridian Community Bank is now established and
serving our community by providing financing solutions
for clients interested in purchasing new homes or
refinancing their existing property. Louise Nelson,
Residential Mortgage Sales Manager, quotes “I couldn’t
be more pleased to have such a dynamic group of
successful and experienced mortgage professionals join
Floridian Community Bank as we launch our
mortgage department. These individuals support Floridian Community Bank’s
mission as we strive to deliver a high level of personal service and to develop long
lasting relationships with all our clients.”
Our Loan Officers are experienced in residential lending offering FHA, VA,
conventional and jumbo loan expertise along with construction to perm. We just
don’t give you a loan – we listen carefully to your financial needs then integrate our
expertise to find the perfect solution for our clients. Each branch has a Loan Officer
that lives, works and is active in the community –
Sergio Contreras – Davie Branch, Jeff Meiselman – Delray Beach Branch, Susan
Lamb – Juno Beach Branch and Brent Enck – Wellington.
We are committed to providing a high standard of honesty, respect, and commitment
to a positive lending experience and look forward to continued growth and success.
Regards,
Louise M. Nelson
VP/Residential Mortgage Sales Manager
Corporate Headquarters Davie: 954-434-8050 • 5599 S. University Dr. • Davie, FL 33328 • FloridianCommunityBank.com
Juno Beach: 561-630-5778 • Delray: 561-496-2690 • Wellington: 561-333-5773