FDIC Certificate #: 57962 Status: Inactive Federal Reserve ID: 3370366 Date Established: August 01, 2005 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 432637 Numeric code: 23 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: August 01, 2005 Last Structure Change Effective Date: December 31, 2010 Last Structure Change Process Date: January 05, 2011 Last Data Update: January 05, 2011 Data Source Date: April 05, 2012
Location
Address: 136 West Center Street, Suite 200, Cedar City, UT 84720 County: Iron Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Salt Lake City Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Cedar City, UT (#16260) CBSA Micro Statistical Area: Yes
History of Changes
Other Liquidations and Closings
Change in Insurance Status
Office Sold
Financial Summary
Total assets: $45.3 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
17Total employees (full-time equivalent)
$54,092Total assets
$20,363Cash and due from depository institutions
$19,384Interest-bearing balances
$621Securities
$2,767Federal funds sold & reverse repurchase agreements
$28,336Net loans & leases
$60Loan loss allowance
$0Trading account assets
$1,538Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$467All other assets
$54,092Total liabilities and capital
$46,648Total liabilities
$46,319Total deposits
$44,412Interest-bearing deposits
$46,319Deposits held in domestic offices
91.83%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$329All other liabilities
$7,444Total equity capital
$7,444Total bank equity capital
$7,444Perpetual preferred stock
$0Common stock
$501Surplus
$6,621Undivided profits
Memoranda
$322Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$280Earning assets
$0Long-term assets (5+ years)
$38Average Assets, year-to-date
$51,108Average Assets, quarterly
$1,675Volatile liabilities
$55,435Insider loans
$56,516FHLB advances
$4,464Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$60Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$3,972Total interest income
$977Total interest expense
$2,995Net interest income
$65Provision for loan and lease losses
$82Total noninterest income
$0Fiduciary activities
$1Service charges on deposit accounts
$0Trading account gains & fees
$81Additional noninterest income
$2,561Total noninterest expense
$1,530Salaries and employee benefits
$149Premises and equipment expense
$882Additional noninterest expense
$451Pre-tax net operating income
$0Securities gains (losses)
$155Applicable income taxes
$296Income before extraordinary items
$0Extraordinary gains - net
$296Net income attributable to bank
$0Net charge-offs
$296Cash dividends
$71Sale, conversion, retirement of capital stock, net
$1,200Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.56%Yield on earning assets
1.86%Cost of funding earning assets
5.70%Net interest margin
0.16%Noninterest income to earning assets
4.87%Noninterest expense to earning assets
0.53%Net operating income to assets
0.53%Return on assets (ROA)
0.81%Pretax return on assets
3.69%Return on equity (ROE)
-11.27%Retained earnings to average equity (YTD only)
0.22%Net charge-offs to loans
91.55%Credit loss provision to net charge-offs
7.27%Efficiency ratio
83,230Assets per employee
3.18%Cash dividends to net income (YTD only)
Condition Ratios (%)
405.41%Loss allowance to loans
0.21%Loss allowance to noncurrent loans
21.43%Noncurrent assets plus other real estate owned to assets
0.52%Noncurrent loans to loans
0.99%Net loans and leases to deposits
61.18%Net loans and leases to core deposits
67.70%Equity capital to assets
13.76%Core capital (leverage) ratio
13.46%Tier 1 risk-based capital ratio
21.04%Total risk-based capital ratio
Memoranda
$21Average assets
$55,435Average earning assets
$8,020Average equity
$52,565Average loans
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