Advanced Federal Savings Bank in Northridge, California (CA)



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Advanced Federal Savings Bank
GeneralFDIC Certificate #: 33549
Status: Inactive
Federal Reserve ID: 624273
Date Established: January 24, 1992
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 9696
FDIC's unique #: 47429
Numeric code: 34
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: January 24, 1992
Last Structure Change Effective Date: March 18, 1994
Last Structure Change Process Date: March 30, 1994
Last Data Update: Febuary 06, 1995
Data Source Date: April 05, 2012
LocationAddress: 10240 Reseda Boulevard, Northridge, CA 91324
County: Los Angeles
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Los Angeles (North)
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
Core Based Statistical Division: Los Angeles-Long Beach-Glendale, CA (#31084)
History of ChangesRTC Supervised Payoffs, Liquidations, and Closings
Conservatorship Institution Resolved
Corrections
Financial SummaryTotal assets: $6.1 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$5
Cash and due from depository institutions$6,057
Interest-bearing balances$518
Securities$305
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$500
Loan loss allowance $1,616
Trading account assets$99
Bank premises and fixed assets$0
Other real estate owned$61
Goodwill and other intangibles$0
All other assets$0
Life insurance assets$3,362
Total liabilities and capital$0
Total liabilities$6,057
Total deposits$24,068
Interest-bearing deposits$5,821
Deposits held in domestic offices$5,821
% insured (estimated)5821.00%
Federal funds purchased & repurchase agreements $100
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $11,615
All other liabilities $0
Total equity capital$6,632
Total bank equity capital$6,632
Perpetual preferred stock$-18,011
Common stock$0
Surplus$0
Undivided profits $0
Memoranda
Noncurrent loans and leases $-18,011
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,210
Earning assets $2
Long-term assets (5+ years) $2,421
Average Assets, year-to-date $0
Average Assets, quarterly $5,936
Volatile liabilities $5,471
Insider loans $11,615
FHLB advances $0
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $-18,011
Total unused commitments $6,521
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $228
Net interest income $478
Provision for loan and lease losses -$250
Total noninterest income $65
Fiduciary activities -$1,587
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense -$1,587
Salaries and employee benefits $3,249
Premises and equipment expense $312
Additional noninterest expense $134
Pre-tax net operating income $2,803
Securities gains (losses) -$5,151
Applicable income taxes $0
Income before extraordinary items $4
Extraordinary gains - net -$5,155
Net income attributable to bank $0
Net charge-offs -$5,155
Cash dividends $0
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1993)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 10.92%
Net interest margin 22.90%
Noninterest income to earning assets -11.98%
Noninterest expense to earning assets -76.03%
Net operating income to assets 155.65%
Return on assets (ROA) -86.84%
Pretax return on assets -86.84%
Return on equity (ROE) -86.78%
Retained earnings to average equity (YTD only) 32.12%
Net charge-offs to loans 32.12%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee-$176,864
Cash dividends to net income (YTD only)1.21%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.77%
Noncurrent assets plus other real estate owned to assets 8.18%
Noncurrent loans to loans 19.98%
Net loans and leases to deposits70.55%
Net loans and leases to core deposits 27.76%
Equity capital to assets 27.76%
Core capital (leverage) ratio -297.36%
Tier 1 risk-based capital ratio -429.86%
Total risk-based capital ratio -276.20%
Memoranda
Average assets-$276
Average earning assets$5,936
Average equity -$16,050
Average loans $2,087
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