FDIC Certificate #: 33535 Status: Inactive Federal Reserve ID: 1916751 Date Established: December 16, 1991 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 47415 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: December 16, 1991 Last Structure Change Effective Date: March 19, 2010 Last Structure Change Process Date: March 22, 2010 Last Data Update: March 22, 2010 Data Source Date: April 05, 2012
Location
Address: 11850 South Election Drive, Draper, UT 84020 County: Salt Lake Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: New York FDIC Field Office: Salt Lake City Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160) Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482) Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620) CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
History of Changes
Financial Difficulty - Payoff
Financial Summary
Total assets: $1,525.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
124Total employees (full-time equivalent)
$1,525,931Total assets
$638,246Cash and due from depository institutions
$624,626Interest-bearing balances
$96,902Securities
$178Federal funds sold & reverse repurchase agreements
$591,839Net loans & leases
$160,079Loan loss allowance
$0Trading account assets
$2,455Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$196,311All other assets
$1,525,931Total liabilities and capital
$1,566,482Total liabilities
$1,519,471Total deposits
$1,498,734Interest-bearing deposits
$1,519,471Deposits held in domestic offices
98.84%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$2,060Other borrowed funds
$0Subordinated debt
$44,951All other liabilities
$-40,551Total equity capital
$-40,551Total bank equity capital
$-40,551Perpetual preferred stock
$0Common stock
$0Surplus
$93,207Undivided profits
Memoranda
$-133,758Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$71,142Earning assets
$0Long-term assets (5+ years)
$6,245Average Assets, year-to-date
$1,313,545Average Assets, quarterly
$21,303Volatile liabilities
$2,552,586Insider loans
$1,905,059FHLB advances
$375,541Loans 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
$34,932Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$127,119Total interest income
$86,539Total interest expense
$40,580Net interest income
$278,896Provision for loan and lease losses
-$16,258Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
-$16,258Additional noninterest income
$227,305Total noninterest expense
$49,063Salaries and employee benefits
$5,801Premises and equipment expense
$172,441Additional noninterest expense
-$481,879Pre-tax net operating income
-$6,580Securities gains (losses)
-$37,165Applicable income taxes
-$451,294Income before extraordinary items
$0Extraordinary gains - net
-$451,294Net income attributable to bank
$0Net charge-offs
-$451,294Cash dividends
$201,296Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.97%Yield on earning assets
4.07%Cost of funding earning assets
1.91%Net interest margin
-0.76%Noninterest income to earning assets
10.68%Noninterest expense to earning assets
-17.44%Net operating income to assets
-17.68%Return on assets (ROA)
-19.14%Pretax return on assets
-251.29%Return on equity (ROE)
-251.29%Retained earnings to average equity (YTD only)
36.19%Net charge-offs to loans
138.55%Credit loss provision to net charge-offs
-1.01%Efficiency ratio
934,533Assets per employee
12.31%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
21.29%Loss allowance to noncurrent loans
225.01%Noncurrent assets plus other real estate owned to assets
4.66%Noncurrent loans to loans
9.46%Net loans and leases to deposits
38.95%Net loans and leases to core deposits
51.74%Equity capital to assets
-2.66%Core capital (leverage) ratio
-2.00%Tier 1 risk-based capital ratio
-4.07%Total risk-based capital ratio
Memoranda
-$4Average assets
$2,552,586Average earning assets
$179,587Average equity
$2,127,565Average loans
Bank Assets Sold and Securitized (December 31, 2009)
Dollar figures in thousands
Principal balance with servicing or other recourse retained
$01-4 family residential loans
$0Home equity lines
$0Credit cards receivables
$0Auto loans
$0Other consumer loans
$1,599,319Commercial and industrial loans
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