pab bankshares, inc. - SNL Financial

More documents

Recommendations

Info

ATLANTA Stockbridge ★ ★ ★ Oakwood ★ Athens McDonough Description of Business PAB Bankshares, Inc. is the bank holding company for The Park Avenue Bank, a $1.2 billion state-chartered, commercial bank headquartered in Valdosta, Georgia. Founded in 1956, the Bank currently operates 18 branch offices in 11 counties in Georgia and Florida. Additional information on the Bank’s locations and the products and services offered by the Bank is available on the Internet at www.parkavebank.com. The Company’s common stock is listed on the NASDAQ Global Select Market under the symbol PABK. More information on the Company is available on the Internet at www.pabbankshares.com. Bainbridge 3 Locations ★ ★ Cairo TALLAHASSEE MACON ★ Statesboro 2 Locations Adel VALDOSTA ★ Lake Park ★ ★ ★ ★ ★ ★ Hazlehurst Baxley 3 Locations PAB Bankshares Home Office Ocala Branch Locations Mission Statement: Develop lasting, quality relationships through exemplary customer service.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Annual Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2009 Commission File Number 000-25422 PAB BANKSHARES, INC. (A Georgia Corporation) IRS Employer Identification Number: 58-1473302 3250 North Valdosta Road, Valdosta, Georgia 31602 Telephone Number: (229) 241-2775 SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: Title of each class Common Stock, no par value Name of exchange on which registered The NASDAQ Stock Market LLC (NASDAQ Global Select Market) SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Exchange Act. Yes [ ] No [X] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes [ ] No [X] Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X] Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “accelerated filer,” “large accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
Page 1: 2009 Annual Report
Page 5 and 6: TABLE OF CONTENTS Item Page Caution
Page 7 and 8: PART I ITEM 1. BUSINESS General PAB
Page 9 and 10: North Georgia During the fourth qua
Page 11 and 12: Supervision and Regulation The bank
Page 13 and 14: Payment of Dividends PAB is a legal
Page 15 and 16: An institution that is categorized
Page 17 and 18: USA Patriot Act of 2001 In October
Page 19 and 20: If our allowance for loan losses is
Page 21 and 22: Our net interest income could be ne
Page 23 and 24: We may need to raise additional cap
Page 25 and 26: If we fail to continue to meet all
Page 27 and 28: Performance Graph The following gra
Page 29 and 30: GAAP Reconciliation and Management
Page 31 and 32: The three primary reasons for this
Page 33 and 34: At December 31, 2009, commercial re
Page 35 and 36: Average Balances, Interest and Yiel
Page 37 and 38: Loan Portfolio We make both secured
Page 39 and 40: A summary of loans from each market
Page 41 and 42: The following table summarizes our
Page 43 and 44: The first component of the allowanc
Page 45 and 46: Summary of Loan Loss Experience The
Page 47 and 48: The following table summarizes our
Page 49 and 50: On September 4, 2009, the Company b
Page 51 and 52: Provision for Loan Losses The provi
Page 53 and 54:
Income Taxes The provision for inco
Page 55 and 56:
We have reduced the level of asset-
Page 57 and 58:
MANAGEMENT’S REPORT ON INTERNAL C
Page 59 and 60:
Because of its inherent limitations
Page 61 and 62:
PAB BANKSHARES, INC. AND SUBSIDIARI
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
NOTES TO CONSOLIDATED FINANCIAL STA
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
JAMES W. GODBEE, JR Certified Publi
Page 111 and 112:
KENNITH D. MCLEOD Certified Public
Page 113 and 114:
The Audit Committee is a separately
Page 115 and 116:
SECTION 16(a) BENEFICIAL OWNERSHIP
Page 117 and 118:
Compensation Benchmarks and Use of
Page 119 and 120:
The following table summarizes in t
Page 121 and 122:
Base Salaries The Company’s philo
Page 123 and 124:
Page 125 and 126:
(1) The listed stock option grants
Page 127 and 128:
Potential Payments Upon Termination
Page 129 and 130:
Page 131 and 132:
(5) Includes 1,659,310 shares owned
Page 133 and 134:
All related party transactions set
Page 135 and 136:
10.5 Rescission Agreement, dated De
Page 137 and 138:
SIGNATURES Pursuant to the requirem
Page 139 and 140:
Shareholder Information Corporate O
show all

pab bankshares, inc. - SNL Financial

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?