Bank of Choice in Colorado Springs, Colorado (CO)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 12, 2008

  • Bank of Choice in Colorado Springs, Colorado (CO)
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Bank of Choice - Overview

  • General
  • FDIC Certificate #: 34502
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: The State Bank of Bartley (#8321)
    Federal Reserve ID: 2622161
    Date Established: October 20, 1997
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 57780
    Numeric code: 21
    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: October 20, 1997
    Last Structure Change Effective Date: September 12, 2008
    Last Structure Change Process Date: October 08, 2008
    Last Data Update: October 08, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 601 N. Nevada, Colorado Springs, CO 80903
    County: El Paso
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Denver
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Colorado Springs, CO (#1720)
    Core Based Statistical Area (CBSA): Colorado Springs, CO (#17820)
    CBSA Metro Statistical Area: Colorado Springs, CO (#17820)
  • Financial Summary
  • Total assets: $562.6 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, 2007)

  • Dollar figures in thousands
  • 88Total employees (full-time equivalent)
  • $547,039Total assets
  • $16,924Cash and due from depository institutions
  • $5,050Interest-bearing balances
  • $29,846Securities
  • $34,250Federal funds sold & reverse repurchase agreements
  • $418,929Net loans & leases
  • $4,643Loan loss allowance
  • $0Trading account assets
  • $20,499Bank premises and fixed assets
  • $3,484Other real estate owned
  • $0Goodwill and other intangibles
  • $12,828Life insurance assets
  • $23,107All other assets
  • $547,039Total liabilities and capital
  • $504,247Total liabilities
  • $424,009Total deposits
  • $386,905Interest-bearing deposits
  • $424,009Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $21,500Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $55,000Other borrowed funds
  • $0Subordinated debt
  • $3,738All other liabilities
  • $42,792Total equity capital
  • $42,792Total bank equity capital
  • $42,792Perpetual preferred stock
  • $0Common stock
  • $4,848Surplus
  • $27,036Undivided profits
  • Memoranda
  • $10,908Noncurrent loans and leases
  • $73,478Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $9,238Earning assets
  • $0Long-term assets (5+ years)
  • $3,282Average Assets, year-to-date
  • $488,075Average Assets, quarterly
  • $27,593Volatile liabilities
  • $493,930Insider loans
  • $540,328FHLB advances
  • $152,864Loans and leases held for sale
  • $29,769Unused loan commitments
  • $55,000Tier 1 (core) risk-based capital
  • $2,236Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $73,478Total unused commitments
  • $0Restructured Loans and leases
  • $4,643Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $35,208Total interest income
  • $19,917Total interest expense
  • $15,291Net interest income
  • $1,080Provision for loan and lease losses
  • $2,221Total noninterest income
  • $0Fiduciary activities
  • $928Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,293Additional noninterest income
  • $13,160Total noninterest expense
  • $4,880Salaries and employee benefits
  • $2,111Premises and equipment expense
  • $6,169Additional noninterest expense
  • $3,272Pre-tax net operating income
  • $0Securities gains (losses)
  • $996Applicable income taxes
  • $2,276Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,276Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $207Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.03%Yield on earning assets
  • 4.54%Cost of funding earning assets
  • 3.49%Net interest margin
  • 0.51%Noninterest income to earning assets
  • 3.00%Noninterest expense to earning assets
  • 0.46%Net operating income to assets
  • 0.46%Return on assets (ROA)
  • 0.66%Pretax return on assets
  • 5.66%Return on equity (ROE)
  • 5.66%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 521.74%Credit loss provision to net charge-offs
  • 21.02%Efficiency ratio
  • 75,148Assets per employee
  • 6.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.10%Loss allowance to noncurrent loans
  • 50.26%Noncurrent assets plus other real estate owned to assets
  • 2.33%Noncurrent loans to loans
  • 2.18%Net loans and leases to deposits
  • 98.80%Net loans and leases to core deposits
  • 143.15%Equity capital to assets
  • 7.82%Core capital (leverage) ratio
  • 7.98%Tier 1 risk-based capital ratio
  • 9.03%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $493,930Average earning assets
  • $40,219Average equity
  • $438,706Average loans

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