Bank of American Fork in American Fork, Utah (UT)
| Bank of American Fork | |
|---|---|
| General | FDIC Certificate #: 12773 Status: Active Federal Reserve ID: 984379 Bank Holding Company (Regulatory Top Holder): People's Utah Bancorp (RSSDID: 2748995, Location: American Fork, UT) Date Established: January 01, 1913 WWW: http://www.bankaf.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 13 (Domestic: 13, Interstate: No) OTS Docket #: 10791 FDIC's unique #: 8088 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: January 01, 1934 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 |
| Location | Address: 33 East Main Street, American Fork, UT 84003 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 Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $890.2 mil Equity capital: $105.0 mil Deposits held in domestic offices: $781.2 mil Return on assets (ROA): 0.77% ($6.9 mil) Quarterly return on assets: 0.79% ($7.0 mil) Return on Equity (ROE): 6.48% ($6.8 mil) Quarterly return on equity: 6.68% ($7.0 mil) Net income: $6.6 mil Quarterly Net income: $1.7 mil Pretax return on assets: 1.13% ($10,059.6 mil) Quarterly Pretax return on assets: 1.12% ($9,970.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 246 |
| Total assets | $890,231 |
| Cash and due from depository institutions | $30,500 |
| Interest-bearing balances | $12,491 |
| Securities | $230,902 |
| Federal funds sold & reverse repurchase agreements | $890 |
| Net loans & leases | $583,384 |
| Loan loss allowance | $15,462 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,466 |
| Other real estate owned | $9,671 |
| Goodwill and other intangibles | $847 |
| All other assets | $18,571 |
| Life insurance assets | $890,231 |
| Total liabilities and capital | $785,188 |
| Total liabilities | $781,224 |
| Total deposits | $605,097 |
| Interest-bearing deposits | $781,224 |
| Deposits held in domestic offices | $84 |
| % insured (estimated) | 819.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $3,145 |
| All other liabilities | $105,043 |
| Total equity capital | $105,043 |
| Total bank equity capital | $105,043 |
| Perpetual preferred stock | $0 |
| Common stock | $127 |
| Surplus | $3,483 |
| Undivided profits | $101,433 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $8,490 |
| Income earned, not collected on loans | $33,172 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $3,975 |
| Average Assets, year-to-date | $827,667 |
| Average Assets, quarterly | $81,220 |
| Volatile liabilities | $859,293 |
| Insider loans | $884,306 |
| FHLB advances | $649,833 |
| Loans and leases held for sale | $892,179 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $103,617 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $147,484 |
| Derivatives | $317 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $41,860 |
| Total interest expense | $4,861 |
| Net interest income | $36,999 |
| Provision for loan and lease losses | $6,200 |
| Total noninterest income | $8,878 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $2,610 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $6,268 |
| Total noninterest expense | $30,046 |
| Salaries and employee benefits | $16,662 |
| Premises and equipment expense | $2,608 |
| Additional noninterest expense | $10,776 |
| Pre-tax net operating income | $9,631 |
| Securities gains (losses) | $94 |
| Applicable income taxes | $3,120 |
| Income before extraordinary items | $6,605 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $6,605 |
| Net charge-offs | $0 |
| Cash dividends | $6,605 |
| Sale, conversion, retirement of capital stock, net | $10,087 |
| Net operating income | $551 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.27% |
| Cost of funding earning assets | 0.61% |
| Net interest margin | 4.66% |
| Noninterest income to earning assets | 1.12% |
| Noninterest expense to earning assets | 3.78% |
| Net operating income to assets | 0.76% |
| Return on assets (ROA) | 0.77% |
| Pretax return on assets | 1.13% |
| Return on equity (ROE) | 6.48% |
| Retained earnings to average equity (YTD only) | 5.94% |
| Net charge-offs to loans | 1.71% |
| Credit loss provision to net charge-offs | 61.47% |
| Efficiency ratio | 1.57% |
| Assets per employee | $65,493 |
| Cash dividends to net income (YTD only) | 3.62% |
| Condition Ratios (%) | |
| Loss allowance to loans | 8.34% |
| Loss allowance to noncurrent loans | 2.58% |
| Noncurrent assets plus other real estate owned to assets | 46.61% |
| Noncurrent loans to loans | 4.81% |
| Net loans and leases to deposits | 5.54% |
| Net loans and leases to core deposits | 74.68% |
| Equity capital to assets | 83.42% |
| Core capital (leverage) ratio | 11.80% |
| Tier 1 risk-based capital ratio | 11.61% |
| Total risk-based capital ratio | 15.95% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $859,293 |
| Average equity | $101,924 |
| Average loans | $794,724 |
| 13 Utah Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 8088 | Bank Of American Fork | 33 East Main Street, American Fork, UT 84003 | January 01, 1913 | Full Service Brick and Mortar |  |
| 1 | 227859 | Alpine Branch | 113 South Main Street, Alpine, UT 84004 | January 28, 1974 | Full Service Brick and Mortar |  |
| 2 | 227860 | Orem Branch | 1344 South 800 East, Suite 2, Orem, UT 84058 | October 04, 1993 | Full Service Brick and Mortar | |
| 3 | 227861 | Highland Branch | 5405 West 11000 North, Highland, UT 84003 | August 01, 1995 | Full Service Brick and Mortar | |
| 4 | 227862 | Lehi Branch | 712 East Main Street, Lehi, UT 84043 | December 09, 1996 | Full Service Brick and Mortar | |
| 5 | 227863 | Pleasant Grove Branch | 290 East State, Pleasant Grove, UT 84062 | May 27, 1997 | Full Service Brick and Mortar | |
| 6 | 227864 | Spanish Fork Branch | 625 North Main, Spanish Fork, UT 84660 | March 30, 1998 | Full Service Brick and Mortar | |
| 7 | 360765 | Draper Branch | 408 East 12300 South, Draper, UT 84020 | July 02, 2001 | Full Service Brick and Mortar | |
| 8 | 365420 | Sandy Branch | 855 East 9400 South, Sandy, UT 84094 | October 01, 2001 | Full Service Brick and Mortar | |
| 9 | 422512 | Murray Branch | 195 East 6100 South, Murray, UT 84107 | January 15, 2003 | Full Service Brick and Mortar | |
| 10 | 465258 | Riverton Office Branch | 2691 West 12600 South, Riverton, UT 84065 | March 19, 2007 | Full Service Brick and Mortar | |
| 11 | 492738 | Www.Bankaf.com | 108 South 700 East, American Fork, UT 84003 | September 27, 2007 | Full Service Cyber | |
| 12 | 492753 | Saratoga Springs Branch | 1543 North Redwood Road, Saratoga Springs, UT 84045 | December 29, 2008 | Full Service Brick and Mortar | |
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