Bank of Willits in Willits, California (CA)



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Bank of Willits
GeneralFDIC Certificate #: 11647
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Savings Bank of Mendocino County (#8011)
Federal Reserve ID: 90467
Date Established: April 11, 1904
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 7444
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: January 01, 1934
Last Structure Change Effective Date: July 06, 2010
Last Structure Change Process Date: July 16, 2010
Last Data Update: July 16, 2010
Data Source Date: April 05, 2012
LocationAddress: 145 South Main Street, Willits, CA 95490
County: Mendocino
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Sacramento
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Ukiah, CA (#46380)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $132.6 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)31
Total assets$132,447
Cash and due from depository institutions$27,789
Interest-bearing balances$25,877
Securities$42,115
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$56,983
Loan loss allowance $1,196
Trading account assets$0
Bank premises and fixed assets$762
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$4,798
Life insurance assets$3,058
Total liabilities and capital$132,447
Total liabilities$112,007
Total deposits$111,416
Interest-bearing deposits$93,391
Deposits held in domestic offices$111,416
% insured (estimated)87.41%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $591
Total equity capital$20,440
Total bank equity capital$20,440
Perpetual preferred stock$20,440
Common stock$0
Surplus$200
Undivided profits $1,300
Memoranda
Noncurrent loans and leases $18,940
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,375
Income earned, not collected on loans $0
Earning assets $2,524
Long-term assets (5+ years) $0
Average Assets, year-to-date $601
Average Assets, quarterly $124,975
Volatile liabilities $26,437
Insider loans $129,212
FHLB advances $133,308
Loans and leases held for sale $20,876
Unused loan commitments $483
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $2,375
Restructured Loans and leases $1,517
Derivatives$990
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $6,160
Total interest expense $1,674
Net interest income $4,486
Provision for loan and lease losses $0
Total noninterest income $480
Fiduciary activities $0
Service charges on deposit accounts $217
Trading account gains & fees $0
Additional noninterest income $263
Total noninterest expense $3,624
Salaries and employee benefits $2,300
Premises and equipment expense $217
Additional noninterest expense $1,107
Pre-tax net operating income $1,342
Securities gains (losses) -$48
Applicable income taxes $354
Income before extraordinary items $940
Extraordinary gains - net $0
Net income attributable to bank $940
Net charge-offs $0
Cash dividends $940
Sale, conversion, retirement of capital stock, net -$5
Net operating income $584
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.08%
Cost of funding earning assets 1.38%
Net interest margin 3.70%
Noninterest income to earning assets 0.40%
Noninterest expense to earning assets 2.99%
Net operating income to assets 0.75%
Return on assets (ROA) 0.73%
Pretax return on assets 1.00%
Return on equity (ROE) 4.69%
Retained earnings to average equity (YTD only) 1.77%
Net charge-offs to loans -0.01%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$72,976
Cash dividends to net income (YTD only)4.27%
Condition Ratios (%)
Loss allowance to loans 62.13%
Loss allowance to noncurrent loans 2.06%
Noncurrent assets plus other real estate owned to assets 47.39%
Noncurrent loans to loans 1.91%
Net loans and leases to deposits4.34%
Net loans and leases to core deposits 51.14%
Equity capital to assets 62.94%
Core capital (leverage) ratio 15.43%
Tier 1 risk-based capital ratio 15.18%
Total risk-based capital ratio 25.43%
Memoranda
Average assets$27
Average earning assets$129,212
Average equity $20,058
Average loans $121,310
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