American Express Centurion Bank in Salt Lake City, Utah (UT)
| American Express Centurion Bank | |
|---|---|
| General | FDIC Certificate #: 27471 Status: Active Federal Reserve ID: 1394676 Bank Holding Company (Regulatory Top Holder): American Express Company (RSSDID: 1275216, Location: New York, NY) Date Established: March 20, 1989 WWW: http://www.americanexpress.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 2, Foreign: 1, Interstate: No) FDIC's unique #: 40088 Numeric code: 23 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Credit Card Institutions: Yes Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: Yes State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Credit-Card Specialization Date of Deposit Insurance: March 20, 1989 Last Structure Change Effective Date: October 24, 2011 Last Structure Change Process Date: October 24, 2011 Last Data Update: October 24, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 4315 South 2700 West, Mail Code: 02-01-47, Salt Lake City, UT 84184 County: Salt Lake 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): 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) |
| Financial Summary | Total assets: $35,152.6 mil Equity capital: $6,114.5 mil Deposits held in domestic offices: $16,055.4 mil Return on assets (ROA): 5.67% ($1,993.2 mil) Quarterly return on assets: 5.59% ($1,965.1 mil) Return on Equity (ROE): 28.19% ($1,723.5 mil) Quarterly return on equity: 30.11% ($1,840.9 mil) Net income: $1,708.4 mil Quarterly Net income: $459.4 mil Pretax return on assets: 9.16% ($3,219,980.4 mil) Quarterly Pretax return on assets: 9.16% ($3,219,980.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 128 |
| Total assets | $35,152,624 |
| Cash and due from depository institutions | $13,071,931 |
| Interest-bearing balances | $13,063,156 |
| Securities | $1,324,304 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $18,879,310 |
| Loan loss allowance | $531,075 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $129 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,876,950 |
| Life insurance assets | $35,152,624 |
| Total liabilities and capital | $29,038,160 |
| Total liabilities | $23,421,434 |
| Total deposits | $23,394,080 |
| Interest-bearing deposits | $16,055,366 |
| Deposits held in domestic offices | $68 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $3,452,006 |
| Other borrowed funds | $0 |
| Subordinated debt | $2,164,720 |
| All other liabilities | $6,114,464 |
| Total equity capital | $6,114,464 |
| Total bank equity capital | $6,114,464 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $896,719 |
| Undivided profits | $5,217,695 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $1,334,335 |
| Income earned, not collected on loans | $328,193 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $119,335 |
| Average Assets, year-to-date | $33,266,770 |
| Average Assets, quarterly | $123,339 |
| Volatile liabilities | $30,147,970 |
| Insider loans | $32,858,181 |
| FHLB advances | $32,034,961 |
| Loans and leases held for sale | $31,646,592 |
| Unused loan commitments | $114,721 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $6,028,892 |
| Total risk weighted assets | $114,721 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $70,438,676 |
| Derivatives | $1,504 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,604,958 |
| Total interest expense | $306,568 |
| Net interest income | $2,298,390 |
| Provision for loan and lease losses | $370,892 |
| Total noninterest income | $3,900,441 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $3,900,441 |
| Total noninterest expense | $3,067,227 |
| Salaries and employee benefits | $16,602 |
| Premises and equipment expense | -$1,194 |
| Additional noninterest expense | $3,051,819 |
| Pre-tax net operating income | $2,760,712 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $1,052,353 |
| Income before extraordinary items | $1,708,359 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,708,359 |
| Net charge-offs | $0 |
| Cash dividends | $1,708,359 |
| Sale, conversion, retirement of capital stock, net | $598,709 |
| Net operating income | $1,450,000 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 9.26% |
| Cost of funding earning assets | 1.09% |
| Net interest margin | 8.17% |
| Noninterest income to earning assets | 13.86% |
| Noninterest expense to earning assets | 10.90% |
| Net operating income to assets | 5.67% |
| Return on assets (ROA) | 5.67% |
| Pretax return on assets | 9.16% |
| Return on equity (ROE) | 28.19% |
| Retained earnings to average equity (YTD only) | 4.26% |
| Net charge-offs to loans | 3.34% |
| Credit loss provision to net charge-offs | 61.95% |
| Efficiency ratio | 5.23% |
| Assets per employee | $49,481 |
| Cash dividends to net income (YTD only) | 274.63% |
| Condition Ratios (%) | |
| Loss allowance to loans | 84.88% |
| Loss allowance to noncurrent loans | 2.74% |
| Noncurrent assets plus other real estate owned to assets | 161.82% |
| Noncurrent loans to loans | 0.93% |
| Net loans and leases to deposits | 1.69% |
| Net loans and leases to core deposits | 80.61% |
| Equity capital to assets | 4174.60% |
| Core capital (leverage) ratio | 17.39% |
| Tier 1 risk-based capital ratio | 19.05% |
| Total risk-based capital ratio | 18.82% |
| Memoranda | |
| Average assets | $20 |
| Average earning assets | $30,147,970 |
| Average equity | $6,059,939 |
| Average loans | $28,144,198 |
| Bank Assets Sold and Securitized (December 31, 2011) (Dollar figures in thousands) | |
| Principal balance with servicing or other recourse retained | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $10,983,069 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| 1 Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 4 | 360334 | Cayman Island Branch (Frgn) | Po Box 501, Georgetown, 0 | January 29, 1991 | Full Service Brick and Mortar |  |
| 2 Utah Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 40088 | American Express Centurion Bank | 4315 South 2700 West, Mail Code: 02-01-47, Salt Lake City, UT 84184 | March 20, 1989 | Full Service Brick and Mortar |  |
| 3 | 262075 | Salt Lake City Branch | 4315 South 2700 West, Salt Lake City, UT 84119 | July 01, 1996 | Limited Service Consumer Credit | |
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