Bank of Everett in Everett, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 19, 2010

  • Bank of Everett in Everett, Washington (WA)
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Bank of Everett - Overview

  • General
  • FDIC Certificate #: 58337
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Bank of the Northwest (#58620)
    Federal Reserve ID: 3444212
    Date Established: June 30, 2006
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 446286
    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: June 30, 2006
    Last Structure Change Effective Date: Febuary 19, 2010
    Last Structure Change Process Date: March 03, 2010
    Last Data Update: March 03, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 2722 Colby Avenue, Everett, WA 98201
    County: Snohomish
    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): Seattle-Bellevue-Everett, WA (#7600)
    Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
    Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
    Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660)
    CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660)
    Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
  • Financial Summary
  • Total assets: $43.9 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, 2009)

  • Dollar figures in thousands
  • 9Total employees (full-time equivalent)
  • $43,876Total assets
  • $8,727Cash and due from depository institutions
  • $7,768Interest-bearing balances
  • $200Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $34,301Net loans & leases
  • $1,677Loan loss allowance
  • $0Trading account assets
  • $379Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $269All other assets
  • $43,876Total liabilities and capital
  • $40,371Total liabilities
  • $40,198Total deposits
  • $34,665Interest-bearing deposits
  • $40,198Deposits held in domestic offices
  • 94.30%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $173All other liabilities
  • $3,505Total equity capital
  • $3,505Total bank equity capital
  • $3,505Perpetual preferred stock
  • $0Common stock
  • $4,250Surplus
  • $4,250Undivided profits
  • Memoranda
  • $-4,995Noncurrent loans and leases
  • $3,434Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,292Earning assets
  • $39Long-term assets (5+ years)
  • $130Average Assets, year-to-date
  • $42,269Average Assets, quarterly
  • $11,802Volatile liabilities
  • $44,644Insider loans
  • $44,054FHLB advances
  • $7,863Loans and leases held for sale
  • $1,540Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $667Tier 2 risk-based capital
  • $667Total risk weighted assets
  • $3,434Total unused commitments
  • $0Restructured Loans and leases
  • $442Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $2,261Total interest income
  • $741Total interest expense
  • $1,520Net interest income
  • $1,206Provision for loan and lease losses
  • $123Total noninterest income
  • $0Fiduciary activities
  • $25Service charges on deposit accounts
  • $0Trading account gains & fees
  • $98Additional noninterest income
  • $1,921Total noninterest expense
  • $960Salaries and employee benefits
  • $251Premises and equipment expense
  • $710Additional noninterest expense
  • -$1,484Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,186Applicable income taxes
  • -$2,670Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,670Net income attributable to bank
  • $0Net charge-offs
  • -$2,670Cash dividends
  • $215Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.33%Yield on earning assets
  • 1.75%Cost of funding earning assets
  • 3.58%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 4.53%Noninterest expense to earning assets
  • -5.98%Net operating income to assets
  • -5.98%Return on assets (ROA)
  • -3.32%Pretax return on assets
  • -53.16%Return on equity (ROE)
  • -53.16%Retained earnings to average equity (YTD only)
  • 0.60%Net charge-offs to loans
  • 560.93%Credit loss provision to net charge-offs
  • -1.29%Efficiency ratio
  • 116,920Assets per employee
  • 4.88%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.66%Loss allowance to noncurrent loans
  • 39.07%Noncurrent assets plus other real estate owned to assets
  • 9.78%Noncurrent loans to loans
  • 11.93%Net loans and leases to deposits
  • 85.33%Net loans and leases to core deposits
  • 106.08%Equity capital to assets
  • 7.99%Core capital (leverage) ratio
  • 7.79%Tier 1 risk-based capital ratio
  • 10.28%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $44,644Average earning assets
  • $5,023Average equity
  • $42,405Average loans

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