American Bank of Commerce in Provo, Utah (UT)

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American Bank of Commerce
GeneralFDIC Certificate #: 34232
Status: Active
Federal Reserve ID: 2493697
Bank Holding Company (Regulatory Top Holder): Ambancorp (RSSDID: 3717260, Location: Provo, UT)
Date Established: August 26, 1996
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 56991
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: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: August 26, 1996
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: 3670 North University Avenue, Provo, UT 84604
County: Utah
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
Metropolitan Statistical Area (MSA): Provo-Orem, UT (#6520)
Core Based Statistical Area (CBSA): Provo-Orem, UT (#39340)
CBSA Metro Statistical Area: Provo-Orem, UT (#39340)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $46.2 mil
Equity capital: $8.2 mil
Deposits held in domestic offices: $37.8 mil
Return on assets (ROA): 0.41% ($0.2 mil)
Quarterly return on assets: 0.28% ($0.1 mil)
Return on Equity (ROE): 2.55% ($0.2 mil)
Quarterly return on equity: 1.62% ($0.1 mil)
Net income: $0.2 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.77% ($356.0 mil)
Quarterly Pretax return on assets: 1.70% ($785.9 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)24
Total assets$46,229
Cash and due from depository institutions$814
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$9,112
Net loans & leases$32,338
Loan loss allowance $1,043
Trading account assets$0
Bank premises and fixed assets$2,762
Other real estate owned$179
Goodwill and other intangibles$0
All other assets$1,024
Life insurance assets$46,229
Total liabilities and capital$38,046
Total liabilities$37,765
Total deposits$24,699
Interest-bearing deposits$37,765
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$56
Other borrowed funds $0
Subordinated debt $225
All other liabilities $8,183
Total equity capital$8,183
Total bank equity capital$8,183
Perpetual preferred stock$0
Common stock$1,523
Undivided profits $1,732
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 $2,094
Earning assets $0
Long-term assets (5+ years) $133
Average Assets, year-to-date $41,450
Average Assets, quarterly $1,420
Volatile liabilities $50,245
Insider loans $47,110
FHLB advances $37,885
Loans and leases held for sale $46,072
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $8,183
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $5,131
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,453
Total interest expense $228
Net interest income $2,225
Provision for loan and lease losses $307
Total noninterest income $1,178
Fiduciary activities $0
Service charges on deposit accounts $107
Trading account gains & fees $0
Additional noninterest income $1,071
Total noninterest expense $2,709
Salaries and employee benefits $1,542
Premises and equipment expense $293
Additional noninterest expense $874
Pre-tax net operating income $387
Securities gains (losses) $0
Applicable income taxes $181
Income before extraordinary items $206
Extraordinary gains - net $0
Net income attributable to bank $206
Net charge-offs $0
Cash dividends $206
Sale, conversion, retirement of capital stock, net $124
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.64%
Cost of funding earning assets 0.52%
Net interest margin 5.12%
Noninterest income to earning assets 2.71%
Noninterest expense to earning assets 6.23%
Net operating income to assets 0.41%
Return on assets (ROA) 0.41%
Pretax return on assets 0.77%
Return on equity (ROE) 2.55%
Retained earnings to average equity (YTD only) 2.55%
Net charge-offs to loans 0.40%
Credit loss provision to net charge-offs 247.58%
Efficiency ratio5.60%
Assets per employee$79,606
Cash dividends to net income (YTD only)1.93%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.12%
Noncurrent assets plus other real estate owned to assets 49.81%
Noncurrent loans to loans 4.92%
Net loans and leases to deposits6.27%
Net loans and leases to core deposits 85.63%
Equity capital to assets 93.57%
Core capital (leverage) ratio 17.70%
Tier 1 risk-based capital ratio 17.76%
Total risk-based capital ratio 21.60%
Average assets$23
Average earning assets$50,245
Average equity $8,068
Average loans $43,465
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5 Utah Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
056991American Bank Of Commerce3670 North University Avenue, Provo, UT 84604August 26, 1996Full Service Brick and Mortar
1423262Heber Branch620 West 100 South, Heber City, UT 84032November 13, 2001Full Service Brick and Mortar
2423263Mobile Service Branch3670 North University Avenue, Provo, UT 84604November 19, 2001Limited Service Messenger
3466286Administrative Branch3670 N University Ave, Provo, UT 84604January 22, 2007Limited Service Administrative
4510965Lindon Branch144 South State Street, Lindon, UT 84042April 28, 2010Full Service Brick and Mortar
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