Bank of the Pacific in Aberdeen, Washington (WA), OR



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Bank of the Pacific routing number info

Table of contents:
Bank of the Pacific
GeneralFDIC Certificate #: 23041
Status: Active
Federal Reserve ID: 307679
Bank Holding Company (Regulatory Top Holder): Pacific Financial Corporation (RSSDID: 2560236, Location: Aberdeen, WA)
Date Established: December 26, 1979
WWW: http://www.bankofthepacific.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 17 (Domestic: 17, Interstate: Yes)
OTS Docket #: 10584
FDIC's unique #: 16132
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: December 26, 1979
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
LocationAddress: 300 East Market Street, Aberdeen, WA 98520
County: Grays Harbor
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
Core Based Statistical Area (CBSA): Aberdeen, WA (#10140)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $640.3 mil
Equity capital: $77.3 mil
Deposits held in domestic offices: $548.4 mil
Return on assets (ROA): 0.53% ($3.4 mil)
Quarterly return on assets: 0.42% ($2.7 mil)
Return on Equity (ROE): 4.53% ($3.5 mil)
Quarterly return on equity: 3.56% ($2.7 mil)
Net income: $3.4 mil
Quarterly Net income: $0.7 mil
Pretax return on assets: 0.58% ($3,713.6 mil)
Quarterly Pretax return on assets: 0.57% ($3,649.6 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)213
Total assets$640,272
Cash and due from depository institutions$41,132
Interest-bearing balances$28,525
Securities$54,677
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$477,566
Loan loss allowance $11,127
Trading account assets$0
Bank premises and fixed assets$14,884
Other real estate owned$7,725
Goodwill and other intangibles$12,550
All other assets$31,738
Life insurance assets$640,272
Total liabilities and capital$562,945
Total liabilities$548,406
Total deposits$439,151
Interest-bearing deposits$548,406
Deposits held in domestic offices$81
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,500
Other borrowed funds $0
Subordinated debt $4,039
All other liabilities $77,327
Total equity capital$77,327
Total bank equity capital$77,327
Perpetual preferred stock$0
Common stock$550
Surplus$30,551
Undivided profits $46,226
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $14,541
Income earned, not collected on loans $14,035
Earning assets $17
Long-term assets (5+ years) $2,155
Average Assets, year-to-date $560,768
Average Assets, quarterly $202,870
Volatile liabilities $643,190
Insider loans $646,418
FHLB advances $471,470
Loans and leases held for sale $628,200
Unused loan commitments $17,275
Tier 1 (core) risk-based capital $10,497
Tier 2 risk-based capital $65,022
Total risk weighted assets $5,441
Total unused commitments $1,337
Restructured Loans and leases $91,596
Derivatives$1,436
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $29,278
Total interest expense $5,240
Net interest income $24,038
Provision for loan and lease losses $2,500
Total noninterest income $6,187
Fiduciary activities $0
Service charges on deposit accounts $1,799
Trading account gains & fees $0
Additional noninterest income $4,388
Total noninterest expense $24,350
Salaries and employee benefits $13,681
Premises and equipment expense $2,534
Additional noninterest expense $8,135
Pre-tax net operating income $3,375
Securities gains (losses) $368
Applicable income taxes $333
Income before extraordinary items $3,410
Extraordinary gains - net $0
Net income attributable to bank $3,410
Net charge-offs $0
Cash dividends $3,410
Sale, conversion, retirement of capital stock, net $1,990
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.19%
Cost of funding earning assets 0.93%
Net interest margin 4.26%
Noninterest income to earning assets 1.10%
Noninterest expense to earning assets 4.32%
Net operating income to assets 0.48%
Return on assets (ROA) 0.53%
Pretax return on assets 0.58%
Return on equity (ROE) 4.53%
Retained earnings to average equity (YTD only) 4.53%
Net charge-offs to loans 0.41%
Credit loss provision to net charge-offs 125.63%
Efficiency ratio2.95%
Assets per employee$80,447
Cash dividends to net income (YTD only)3.01%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.28%
Noncurrent assets plus other real estate owned to assets 79.28%
Noncurrent loans to loans 3.40%
Net loans and leases to deposits2.87%
Net loans and leases to core deposits 87.08%
Equity capital to assets 94.14%
Core capital (leverage) ratio 12.08%
Tier 1 risk-based capital ratio 10.35%
Total risk-based capital ratio 13.79%
Memoranda
Average assets$15
Average earning assets$643,190
Average equity $75,352
Average loans $564,207
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1 Oregon Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
19466614Gearhart Branch3410 Hwy 101 N #b, Gearhart, OR 97138October 01, 2006Full Service Brick and Mortar
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16 Washington Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016132Bank Of The Pacific300 East Market Street, Aberdeen, WA 98520December 26, 1979Full Service Brick and Mortar
1195631Ocean Shores Branch145 Chance A La Mer Street, Ocean Shores, WA 98569Febuary 02, 1971Full Service Brick and Mortar
3255828Hoquiam Branch405 8th Street, Hoquiam, WA 98550Febuary 13, 1989Full Service Brick and Mortar
4255829Taholah Branch515 Quinault Drive, Taholah, WA 98587September 17, 1993Full Service Brick and Mortar
5255830Montesano Branch150 South Main, Montesano, WA 98563October 06, 1997Full Service Brick and Mortar
614164Long Beach BranchPacific Ave. South & 10th St. South, Long Beach, WA 98631October 27, 1971Full Service Brick and Mortar
7251209Naselle-Grays River Valley Branch309 Knappton Road, Naselle, WA 98638December 02, 1974Full Service Brick and Mortar
8251210Ilwaco BranchSecond And Spruce Streets, Ilwaco, WA 98624May 23, 1977Full Service Brick and Mortar
9251211Ocean Park BranchBay And Union Avenues, Ocean Park, WA 98640December 01, 1979Full Service Brick and Mortar
10266627Cathlamet Branch140 3rd Street, Cathlamet, WA 98612January 01, 1924Full Service Brick and Mortar
1157184Bellingham Branch100 Grand Avenue, Bellingham, WA 98227March 03, 1997Full Service Brick and Mortar
14362504Hannegan Branch4124 Hannegan Road, Bellingham, WA 98226October 04, 2001Full Service Brick and Mortar
15365647Lynden1800 Front Street, Lynden, WA 98264December 16, 2002Full Service Brick and Mortar
16440498Ferndale Branch1860 Main Street, Ferndale, WA 98248May 23, 2005Full Service Brick and Mortar
17447399Raymond Branch560 Commercial Street, Raymond, WA 98577January 23, 2006Full Service Brick and Mortar
18450427Anacortes Branch801 Commercial Avenue, Anacortes, WA 98221May 01, 2006Full Service Brick and Mortar
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