1st Equity Bank in Skokie, Illinois (IL)



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1st Equity Bank
GeneralFDIC Certificate #: 34393
Status: Active
Federal Reserve ID: 2531562
Bank Holding Company (Regulatory Top Holder): First Equity Corp. (RSSDID: 2531553, Location: Skokie, IL)
Date Established: June 09, 1997
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 57156
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: June 09, 1997
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 3956 West Dempster Street, Skokie, IL 60076
County: Cook
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Chicago
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Metropolitan Statistical Area (MSA): Chicago, IL (#1600)
Consolidated Metropolitan Statistical Area (CMSA): Chicago-Gary-Kenosha, IL-IN-WI (#14)
Combined Statistical Area (CSA): Chicago-Naperville-Michigan City, IL-IN-WI (#176)
Core Based Statistical Area (CBSA): Chicago-Joliet-Naperville, IL-IN-WI (#16980)
CBSA Metro Statistical Area: Chicago-Joliet-Naperville, IL-IN-WI (#16980)
Core Based Statistical Division: Chicago-Joliet-Naperville, IL (#16974)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $112.5 mil
Equity capital: $14.1 mil
Deposits held in domestic offices: $94.3 mil
Return on assets (ROA): 0.67% ($0.8 mil)
Quarterly return on assets: -1.70% (-$1.9 mil)
Return on Equity (ROE): 5.22% ($0.7 mil)
Quarterly return on equity: -12.98% (-$1.8 mil)
Net income: $0.8 mil
Quarterly Net income: -$0.5 mil
Pretax return on assets: 0.66% ($742.6 mil)
Quarterly Pretax return on assets: -1.75% (-$1,969.1 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)8
Total assets$112,522
Cash and due from depository institutions$21,643
Interest-bearing balances$14,307
Securities$0
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$88,807
Loan loss allowance $1,794
Trading account assets$0
Bank premises and fixed assets$31
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$2,041
Life insurance assets$112,522
Total liabilities and capital$98,404
Total liabilities$94,260
Total deposits$84,657
Interest-bearing deposits$94,260
Deposits held in domestic offices$87
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$4,000
Other borrowed funds $0
Subordinated debt $144
All other liabilities $14,118
Total equity capital$14,118
Total bank equity capital$14,118
Perpetual preferred stock$0
Common stock$2,500
Surplus$7,750
Undivided profits $3,868
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $51
Earning assets $0
Long-term assets (5+ years) $285
Average Assets, year-to-date $103,114
Average Assets, quarterly $246
Volatile liabilities $113,448
Insider loans $111,280
FHLB advances $79,011
Loans and leases held for sale $110,934
Unused loan commitments $95
Tier 1 (core) risk-based capital $95
Tier 2 risk-based capital $14,118
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,021
Derivatives$0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,135
Total interest expense $1,185
Net interest income $3,950
Provision for loan and lease losses $1,375
Total noninterest income $132
Fiduciary activities $0
Service charges on deposit accounts $94
Trading account gains & fees $0
Additional noninterest income $38
Total noninterest expense $1,957
Salaries and employee benefits $1,012
Premises and equipment expense $160
Additional noninterest expense $785
Pre-tax net operating income $750
Securities gains (losses) $0
Applicable income taxes -$8
Income before extraordinary items $758
Extraordinary gains - net $0
Net income attributable to bank $758
Net charge-offs $0
Cash dividends $758
Sale, conversion, retirement of capital stock, net $1,202
Net operating income $710
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.88%
Cost of funding earning assets 1.13%
Net interest margin 3.76%
Noninterest income to earning assets 0.13%
Noninterest expense to earning assets 1.86%
Net operating income to assets 0.67%
Return on assets (ROA) 0.67%
Pretax return on assets 0.66%
Return on equity (ROE) 5.22%
Retained earnings to average equity (YTD only) 0.33%
Net charge-offs to loans 1.26%
Credit loss provision to net charge-offs 114.39%
Efficiency ratio1.77%
Assets per employee$47,942
Cash dividends to net income (YTD only)14.07%
Condition Ratios (%)
Loss allowance to loans 93.67%
Loss allowance to noncurrent loans 1.98%
Noncurrent assets plus other real estate owned to assets 3517.65%
Noncurrent loans to loans 0.05%
Net loans and leases to deposits0.06%
Net loans and leases to core deposits 94.21%
Equity capital to assets 106.56%
Core capital (leverage) ratio 12.55%
Tier 1 risk-based capital ratio 12.73%
Total risk-based capital ratio 17.87%
Memoranda
Average assets$19
Average earning assets$113,448
Average equity $14,528
Average loans $105,138
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1 Illinois Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0571561st Equity Bank3956 West Dempster Street, Skokie, IL 60076June 09, 1997Full Service Brick and Mortar
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