1st Choice Bank in Houston, Texas (TX)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 01, 2008

  • 1st Choice Bank in Houston, Texas (TX)
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1st Choice Bank - Overview

  • General
  • FDIC Certificate #: 35048
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Prosperity Bank (#16835)
    Federal Reserve ID: 2799250
    Date Established: April 14, 1999
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 74352
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: April 14, 1999
    Last Structure Change Effective Date: June 01, 2008
    Last Structure Change Process Date: June 11, 2008
    Last Data Update: June 11, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 2310 Yale, Houston, TX 77008
    County: Harris
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Houston
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Houston, TX (#3360)
    Consolidated Metropolitan Statistical Area (CMSA): Houston-Galveston-Brazoria, TX (#42)
    Combined Statistical Area (CSA): Houston-Baytown-Huntsville, TX (#288)
    Core Based Statistical Area (CBSA): Houston-Sugar Land-Baytown, TX (#26420)
    CBSA Metro Statistical Area: Houston-Sugar Land-Baytown, TX (#26420)
  • Financial Summary
  • Total assets: $313.9 mil

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2007)

  • Dollar figures in thousands
  • 45Total employees (full-time equivalent)
  • $302,965Total assets
  • $9,827Cash and due from depository institutions
  • $590Interest-bearing balances
  • $53,318Securities
  • $42,250Federal funds sold & reverse repurchase agreements
  • $190,693Net loans & leases
  • $2,094Loan loss allowance
  • $0Trading account assets
  • $3,315Bank premises and fixed assets
  • $400Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $3,162All other assets
  • $302,965Total liabilities and capital
  • $275,574Total liabilities
  • $273,836Total deposits
  • $205,703Interest-bearing deposits
  • $273,836Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $1,738All other liabilities
  • $27,391Total equity capital
  • $27,391Total bank equity capital
  • $27,391Perpetual preferred stock
  • $0Common stock
  • $5,652Surplus
  • $7,228Undivided profits
  • Memoranda
  • $14,511Noncurrent loans and leases
  • $39,242Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $204Earning assets
  • $0Long-term assets (5+ years)
  • $1,786Average Assets, year-to-date
  • $286,851Average Assets, quarterly
  • $31,241Volatile liabilities
  • $303,329Insider loans
  • $304,120FHLB advances
  • $106,565Loans and leases held for sale
  • $6,013Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $39,242Total unused commitments
  • $0Restructured Loans and leases
  • $2,094Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $21,017Total interest income
  • $8,983Total interest expense
  • $12,034Net interest income
  • $75Provision for loan and lease losses
  • $722Total noninterest income
  • $0Fiduciary activities
  • $603Service charges on deposit accounts
  • $0Trading account gains & fees
  • $119Additional noninterest income
  • $5,437Total noninterest expense
  • $3,215Salaries and employee benefits
  • $545Premises and equipment expense
  • $1,677Additional noninterest expense
  • $7,244Pre-tax net operating income
  • $0Securities gains (losses)
  • $2,467Applicable income taxes
  • $4,777Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,777Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $90Sale, conversion, retirement of capital stock, net
  • $1,792Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.35%Yield on earning assets
  • 3.14%Cost of funding earning assets
  • 4.21%Net interest margin
  • 0.25%Noninterest income to earning assets
  • 1.90%Noninterest expense to earning assets
  • 1.57%Net operating income to assets
  • 1.57%Return on assets (ROA)
  • 2.39%Pretax return on assets
  • 18.40%Return on equity (ROE)
  • 11.50%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 83.33%Credit loss provision to net charge-offs
  • 81.32%Efficiency ratio
  • 42,623Assets per employee
  • 6.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 37.51%Loss allowance to loans
  • 1.09%Loss allowance to noncurrent loans
  • 1026.47%Noncurrent assets plus other real estate owned to assets
  • 0.20%Noncurrent loans to loans
  • 0.11%Net loans and leases to deposits
  • 69.64%Net loans and leases to core deposits
  • 114.00%Equity capital to assets
  • 9.04%Core capital (leverage) ratio
  • 8.81%Tier 1 risk-based capital ratio
  • 13.75%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $303,329Average earning assets
  • $25,959Average equity
  • $286,137Average loans

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