# FRIENDS BANK
NEW SMYRNA BEACH, FL · FDIC certificate 35376 · asset band <$300M · latest filing 2019-09 · stopped filing (departed)

**Verdict on the desk:** this could be *ordinary*. Composite score 1 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $99.1M | |
| Deposits | $87.3M | |
| Loans and leases | $70.6M | |
| Total equity | $10.8M | |
| Loans / deposits | 79.30% (p53 of band) | 77.79% |
| Liquid assets / assets | 23.26% (p34 of band) | |
| Uninsured deposits / deposits | 4.56% (p7 of band) | 15.94% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p21 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 8.50% (p6 of band) | 11.56% |
| Unrealized securities loss / equity | 0.12% (p28 of band) | 0.80% |
| AOCI / equity | 0.30% (p20 of band) | |
| ROA (annualized) | 0.52% (p18 of band) | 1.05% |
| Net interest margin | 3.87% (p52 of band) | 3.84% |
| Efficiency ratio | 152.83% (p99 of band) | |
| Noncurrent loans | 0.00% (p8 of band) | 0.56% |
| Net charge-offs (annualized) | -0.10% (p3 of band) | |
| Reserve coverage of noncurrent | – | |
| Real estate % of loans | 99% | |
| Construction % of loans | 21.89% (p58 of band) | |
| Auto loans | $14,000 (0.02% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -1.6% | |
| Employees | 26 | |

## Flags firing in the latest filing

- **expense ratio p90** (`earn_efficiency`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 5 | leverage <7%, noncurrent p90, charge-offs p90, reserve under noncurrent, construction >100% equity |  |
| 2011-06 | 6 | losing money |  |
| 2011-09 | 8 | capital falling, expense ratio p90 |  |
| 2011-12 | 8 |  |  |
| 2012-03 | 10 | deposits shrinking, assets shrinking, uninsured deposits leaving | capital falling |
| 2012-06 | 10 | leverage <5% | charge-offs p90, uninsured deposits leaving |
| 2012-09 | 11 | charge-offs p90 |  |
| 2012-12 | 11 |  |  |
| 2013-03 | 10 |  | charge-offs p90 |
| 2013-06 | 10 |  |  |
| 2013-09 | 11 | uninsured deposits leaving |  |
| 2013-12 | 9 |  | noncurrent p90, uninsured deposits leaving |
| 2014-03 | 5 |  | reserve under noncurrent, losing money, leverage <5% |
| 2014-06 | 4 |  | expense ratio p90 |
| 2014-09 | 4 | noncurrent p90, reserve under noncurrent | construction >100% equity, assets shrinking |
| 2014-12 | 7 | construction >100% equity, assets shrinking, uninsured deposits leaving |  |
| 2015-03 | 4 | charge-offs p90 | deposits shrinking, noncurrent p90, assets shrinking, uninsured deposits leaving |
| 2015-06 | 3 |  | reserve under noncurrent |
| 2015-09 | 4 | uninsured deposits leaving |  |
| 2015-12 | 1 |  | leverage <7%, construction >100% equity, uninsured deposits leaving |
| 2016-03 | 0 |  | charge-offs p90 |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 4 | expense ratio p90, deposits shrinking, assets shrinking, uninsured deposits leaving |  |
| 2017-09 | 2 |  | deposits shrinking, assets shrinking |
| 2017-12 | 1 |  | uninsured deposits leaving |
| 2018-03 | 3 | deposits shrinking, assets shrinking, uninsured deposits leaving | expense ratio p90 |
| 2018-06 | 0 |  | deposits shrinking, assets shrinking, uninsured deposits leaving |
| 2018-09 | 1 | uninsured deposits leaving |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 2 | expense ratio p90 |  |
| 2019-09 | 1 |  | uninsured deposits leaving |

## In the news (Google News, unfiltered, newest first; check the city)

- 2022-03-17 [FAIRWINDS Credit Union announces acquisition of Friends Bank - CUInsight](https://news.google.com/rss/articles/CBMiowFBVV95cUxNUEZtcWZWb2RuLVJsdFE3ZFdjUGtLZ1Q1MXpqZUcwVWpWbmI4YTZQVTJXNGhxUFRsb3NENlJOV24yVEZYell1R3dMVmsxNFFhbGZYdmNNMnpxeXVtaV85cW15c01IOGZidnZmaHozSDJRd0I2OGRfb2gwMl8wR2dhNmFZaDFRX3VPelprWWR5QVVvXzZLQl9UY1M0NnhIekhzVjE0?oc=5) · CUInsight
- 2019-02-20 [Fairwinds Credit Union to acquire $95M bank - The Business Journals](https://news.google.com/rss/articles/CBMioAFBVV95cUxOMy1nWWV1NXhKc1A0UjdfLURib21ITW9iU2taQVh4dzdRazQ5Z3FWNS13UTg5eUw2NXBWZWpnNDVZdndtZVJrZ2dlNnppWmhTOThGMUZuaU1wMC1yU0YyWlNLaTdhV1FsbTh0OU9hUFBMX2IzX2pvZGc5cUhLd3l4X085MWZwWUhOdnU4RGh4WnpheTBNVjFWQVVPb1ByOUxO?oc=5) · The Business Journals
- 2019-09-25 [Credit unions go shopping - Florida Trend](https://news.google.com/rss/articles/CBMieEFVX3lxTE5mNFNVV3FpcDI0QWxrQThHSU5PUC1rakxIY2gzOFhHV1V6ME8tS3JjMjhoaDl5TjV5bkoyZnFuMmlQamgzODR5dHJRXzJJYnNOZkdEQlhNREV2eXRvaXo5VFNMRlk0NFBkUU96RXk5a3J6ZlNudk9KQg?oc=5) · Florida Trend
- 2019-03-28 [Power Financial Credit Union Plans Bank Acquisition - CUTimes](https://news.google.com/rss/articles/CBMikAFBVV95cUxNVEZ4Ni1VVUNjYWVUVm5WUWVfbkFQVm9jNFBZX3J5cVl6RkwtcW1zRVFXblRNcjJLeXJfVjN6RHNWMDB1MHpPenZkcXZoX3F0cFNuUldnb0o5OWJ6ekhlRWJFODJLR3pBM0NHLVdEcE4wWGFXUE5jV1pUeEZSWm56UXlpRWZjSFdKSlgtTXlOanU?oc=5) · CUTimes
- 2020-07-01 [Former Disney employee paid herself, family over $100K in fraudulent refunds, FDLE says - WESH](https://news.google.com/rss/articles/CBMiggFBVV95cUxOWTNVUmIzYmdBUnVjR282b04yNXRSLTRVVjZuOWFwVS1MMGhEUlZsSDFPejBKd0dvLWFhMU5lX1VRcnZJMzF5aDVCS3JiY0U1ajlfQXF6dEM3SFJpNFFsNU43TzhzeUNRdy15Z0xCWkJ6Q3pRWnp6MG1mWFc4YU42NzNB?oc=5) · WESH
- 2022-04-20 [Fairwinds Credit Union’s COO forecasts more growth ahead - Florida Trend](https://news.google.com/rss/articles/CBMioAFBVV95cUxQZ1hiOTdSbk5tRE9mRVkxUW1Ga0VoQ0tqMEJtWUFOZTJuYmNiV1dmLS1XWDM5V2FzRXdFSjdId1FPb0o5UmVOZzZ2OVAwWmFuSFV2ZWlwTFQtRGZvMGFFankwWkw3ajNmczBhVlkzY3g3Rkl4U2xLaWJ0cjV0Y0I1QmFja09QUjF0a09WSTRpMEZUaGdsX1dIS292dXRtNERB?oc=5) · Florida Trend
- 2013-09-18 [NSB boy, 11, hit on bike, dies from injuries - Daytona Beach News-Journal](https://news.google.com/rss/articles/CBMiqgFBVV95cUxPbG1WYnZNSXBESTRZcklXYlVQUzN6TFA4MXE3NGcyX1RSZ0drbWExS0FpZ3k4R0h0OUc2aUZHXzFkc01nbTFjU3F3RGZuaWNNbFBMSk9ZWkkyQnNuM0lINGtobHZQZTViZVRoOWZUN3ROU1NDVk5KLUhvelhlV2Jpc2dZWXBiQkg5TVhOZVFzc1dkV3J6TXRXU1JBVWRYQm5hWVQ2dEhqSjRZZw?oc=5) · Daytona Beach News-Journal
- 2020-07-02 [Disney worker stole $160k creating false refunds from resort deposited the cash into bank accounts' - dailymail.com](https://news.google.com/rss/articles/CBMi0AFBVV95cUxQUkRLem1iaWpCUXV1YjBtZV9ndzVzb2xIN3V1MElES3Npb2tJQ0VkbFZhdGVpUGUwNHM4Y2s3UmVIa1ZvaHZJa2g3bDNTSEV6RE1lN1dHWDA1Wk13MjNkdm9DT1BFejZHX3FHQ3g3amt6Y3p1NGRVNEFfWUR1T1lWOFFNY3VJdzBnR3dzWXBjYzVVbWk2Mjk5SVBzR3VqYzhCaGZTd2VKbVNqbmpjUU8tLUZ5amxvaFlNVHowc0N0b25QaXBvTDJHdnMzcXV2WV9R0gHWAUFVX3lxTE9pbjRRREZVUEQtTTVfanQ0ZlIxUzdidnRyUlF5WW5Hb1J5U2pEemZyTDJ5TVRVa0dwYVN3Y25mdkduZmM4a1lUaGNKaGJHaTlWN0ZqUHpWbndPR0h6VnhSZWhZUzl4R0gzQmlzT09YSFMzREgtbEdoSU5zc0EzZFpQem9SSmx4R3BUM0FoVU02ZHZ0MHRIM0R3dk9RTnZMNW15NHBWOWFQeEpWX0pnVEhlVUhfR3lYODREWUpNcFlXVWZ5Smk4OHdpbnJrajNDSVJ6aDJuLWc?oc=5) · dailymail.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=35376 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/48.json (key "35376", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide