FDIC Certificate #: 33696 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Horizon Bank (#22977) Federal Reserve ID: 1992522 Date Established: September 23, 1992 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 11252 FDIC's unique #: 47780 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: September 23, 1992 Last Structure Change Effective Date: June 19, 1999 Last Structure Change Process Date: July 07, 1999 Last Data Update: July 07, 1999 Data Source Date: April 05, 2012
Location
Address: 211 East Holly Street, Bellingham, WA 98225 County: Whatcom Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Seattle Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Bellingham, WA (#860) Core Based Statistical Area (CBSA): Bellingham, WA (#13380) CBSA Metro Statistical Area: Bellingham, WA (#13380)
Financial Summary
Total assets: $66.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
32Total employees (full-time equivalent)
$67,306Total assets
$7,379Cash and due from depository institutions
$4,573Interest-bearing balances
$5,105Securities
$3,940Federal funds sold & reverse repurchase agreements
$47,867Net loans & leases
$522Loan loss allowance
$0Trading account assets
$1,750Bank premises and fixed assets
$0Other real estate owned
$736Goodwill and other intangibles
$0Life insurance assets
$529All other assets
$67,306Total liabilities and capital
$60,811Total liabilities
$56,415Total deposits
$45,702Interest-bearing deposits
$56,415Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$4,141Other borrowed funds
$0Subordinated debt
$255All other liabilities
$6,495Total equity capital
$6,495Total bank equity capital
$6,495Perpetual preferred stock
$0Common stock
$179Surplus
$4,171Undivided profits
Memoranda
$2,145Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$99Earning assets
$0Long-term assets (5+ years)
$249Average Assets, year-to-date
$61,485Average Assets, quarterly
$12,985Volatile liabilities
$61,447Insider loans
$65,747FHLB advances
$9,735Loans and leases held for sale
$1,000Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$473Total risk weighted assets
$14,869Total unused commitments
$0Restructured Loans and leases
$53,089Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$5,248Total interest income
$1,968Total interest expense
$3,280Net interest income
$119Provision for loan and lease losses
$770Total noninterest income
$0Fiduciary activities
$220Service charges on deposit accounts
$0Trading account gains & fees
$550Additional noninterest income
$2,779Total noninterest expense
$1,299Salaries and employee benefits
$338Premises and equipment expense
$1,142Additional noninterest expense
$1,152Pre-tax net operating income
$2Securities gains (losses)
$391Applicable income taxes
$763Income before extraordinary items
$0Extraordinary gains - net
$763Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$53Sale, conversion, retirement of capital stock, net
$100Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
9.43%Yield on earning assets
3.54%Cost of funding earning assets
5.89%Net interest margin
1.38%Noninterest income to earning assets
4.99%Noninterest expense to earning assets
1.24%Net operating income to assets
1.24%Return on assets (ROA)
1.88%Pretax return on assets
12.47%Return on equity (ROE)
10.84%Retained earnings to average equity (YTD only)
0.11%Net charge-offs to loans
224.53%Credit loss provision to net charge-offs
23.98%Efficiency ratio
66,494Assets per employee
2.10%Cash dividends to net income (YTD only)
Condition Ratios (%)
13.11%Loss allowance to loans
1.08%Loss allowance to noncurrent loans
527.27%Noncurrent assets plus other real estate owned to assets
0.15%Noncurrent loans to loans
0.20%Net loans and leases to deposits
84.85%Net loans and leases to core deposits
98.05%Equity capital to assets
9.65%Core capital (leverage) ratio
8.87%Tier 1 risk-based capital ratio
10.79%Total risk-based capital ratio
Memoranda
$12Average assets
$61,447Average earning assets
$6,118Average equity
$55,665Average loans
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