Providence Bank is located and headquartered in Winter Haven, Florida.  Providence Bank is a one office bank.  The bank was established on September 30, 2005.  Providence Bank has been FDIC insured since September 30, 2005.  Providence Bank is chartered as a Federal Reserve Non-member.  Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC).

Florida Traditions signed an agreement to buy Providence Bank in a stock-and-cash deal expected to close the summer of 2009, pending regulatory and shareholder approval.

As of December 31, 2008 the bank had total assets of $42,741,000 and total deposits of $31,508,000.  Total full-time equivalent employees at the close of the year were approximately 11.  Full year income for 2008 was a net loss of -$774,000.

Providence Bank most recent performance ratios.
As of December 31, 2008:

Yield on earning assets 5.70% 
Cost of funding earning assets 3.18% 
Net interest margin 2.53%
Return on assets (ROA) -2.12%
Return on equity (ROE) -15.01%
Noncurrent loans to loans 2.97%
Equity capital to assets 11.91% 
Core capital (leverage) ratio 11.43% 
Tier 1 risk-based capital ratio 14.87% 
Total risk-based capital ratio 16.13%
 
Providence Bank products and services:

Providence Bank provides business and personal banking services for businesses and consumers.  Its business banking products and services include business financing, cash management, certificates of deposit, checking accounts, convenience banking and loans.  The company’s personal banking products and services include certificates of deposit, checking accounts, savings accounts, convenience banking, loans, online banking and more.

Providence Bank locations:

Providence Bank
1501 1st Street South
Winter Haven, FL 33880
Phone: (863) 299-0600
Fax: (863) 297-9032

Providence Bank web address: www.providencebankfla.com

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