$139M
total assets, September 30, 2012
GulfSouth Private Bank was a state nonmember bank in Destin, FL. It failed on Oct 19, 2012, and Smartbank took over its deposits. At its last report it held $139.4 million in assets.
Updated Oct 11, 2026 · numbers as of September 30, 2012
This bank failed
- Failed on
- Oct 19, 2012
- Assets
- $139M
- Deposits
- $132M
- Estimated cost
- $40.3M
- Deposits went to
- Smartbank, Pigeon Forge, TN
Total assets
$139M
-23.1% in a year · -12.4% in a quarter
Deposits
$132M
-17.8% in a year · -12.9% in a quarter
Loans
$104M
-21.8% in a year · -11.7% in a quarter
Profit so far
-$5.2M
Jan 1 to Sep 30, 2012
Capital ratio
1.63%
-5.08 pts in a year
Return on assets
-4.29%
-3.90 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 4405 Commons Drive East, Destin, FL, 32541
- County
- Okaloosa
- Established
- Nov 21, 2005
- Failed
- Oct 19, 2012
- Employees
- 27
- Branches
- 4
- Id
- b58073
Quarter by quarter
December 31, 2005 to September 30, 2012
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is GulfSouth Private Bank?
$139.4 million in total assets and $131.6 million in deposits as of September 30, 2012, with assets down 23.1% from a year before. Its loans were $104.1 million.
How many branches does GulfSouth Private Bank have?
4 branches in Florida as of June 30, 2026.
Is GulfSouth Private Bank profitable?
No: it lost $5.20 million from January 1 to September 30, 2012. Its return on assets was -4.29% a year; about 1% is typical.
When did GulfSouth Private Bank fail?
Oct 19, 2012. Smartbank of Pigeon Forge, TN took over its deposits. The estimated cost of the failure was $40.3 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.