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February 06, 2016 7:14 AM ET

Banks

Company Overview of Sunshine Bancorp, Inc.

Company Overview

Sunshine Bancorp, Inc. operates as the bank holding company for Sunshine Bank that provides retail community banking services to individuals, families, and businesses primarily located in Hillsborough County and Pasco County, Florida. It offers deposit accounts, such as savings, NOW, money market, time, and certificate of deposit accounts. The company’s loan products comprise real estate mortgage loans, such as one-to four-family residential, commercial, multi-family, and land and construction loans; commercial loans; and consumer loans that are extended for the purchase of automobiles, recreational vehicles, and boats, as well as lines of credit, personal loans, and deposit account collater...

102 West Baker Street

Plant City, FL 33563

United States

Founded in 1954

Phone:

813-752-6193

Key Executives for Sunshine Bancorp, Inc.

Chief Executive Officer, President, Director, Chief Executive Officer of Sunshine State Bank, President of Sunshine State Bank and Director of Sunshine State Bank
Age: 53
Total Annual Compensation: $177.2K
Compensation as of Fiscal Year 2014.

Sunshine Bancorp, Inc. Key Developments

Sunshine Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015

Sunshine Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company announced total interest income of $4,254,000 compared to $1,601,000 for the same period a year ago. Net interest income was $3,938,000 compared to $1,530,000 for the same period a year ago. Loss before income taxes was $2,454,000 compared to income before income taxes of $38,000 for the same period a year ago. Net loss was $1,776,000 compared to net income of $39,000 for the same period a year ago. Net loss available to common stockholders was $1,776,000 or $0.42 per basic and diluted share compared to net income available to common stockholders of $39,000 or $0.01 per basic and diluted share for the same period a year ago. Annualized negative return on average assets was 1.5% compared to 3.9% for the same period a year ago. Annualized return on average equity was 0.1% compared to annualized negative return on average equity of 14.1% for the same period a year ago. For the full year, the company announced total interest income of $11,846,000 compared to $6,243,000 for the same period a year ago. Net interest income was $11,095,000 compared to $5,945,000 for the same period a year ago. Loss before income taxes was $4,552,000 compared to $4,051,000 for the same period a year ago. Net loss was $2,231,000 compared to $2,461,000 for the same period a year ago. Net loss available to common stockholders was $2,245,000 or $0.56 per basic and diluted share compared to $2,461,000 or $0.63 per basic and diluted share for the same period a year ago. Net interest income for the year increased as a result of average balance sheet growth and transitioning the mix of interest-earning assets from lower yielding investments into higher yielding organic loan growth.

Sunshine Bank Promotes Nick Thurston to Senior Vice President, Regional President of Eastern Hillsborough and Pasco Counties

Nick Thurston has been promoted to senior vice president, regional president of Eastern Hillsborough and Pasco counties at Sunshine Bank, Plant City. Thurston will be responsible for managing all operational and business development aspects of the region, including three business bankers and commercial relationship managers and five branch locations. Thurston has 16 years of banking experience and has been with Sunshine Bank since July as vice president, business banking manager.

Edward M. Verner Resigns as Director of Sunshine Bancorp, Inc. and Sunshine Bank

Sunshine Bancorp, Inc. announced that on November 18, 2015, Edward M. Verner resigned as a director of the company and Sunshine Bank.

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