Bay Cities National Bank in Redondo Beach, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 30, 1995

  • Bay Cities National Bank in Redondo Beach, California (CA)
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Bay Cities National Bank - Overview

  • General
  • FDIC Certificate #: 24003
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Opus Bank (#33806)
    Federal Reserve ID: 934365
    Date Established: July 09, 1982
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 2 (Interstate: No)
    FDIC's unique #: 16739
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: July 09, 1982
    Last Structure Change Effective Date: November 30, 1995
    Last Structure Change Process Date: December 12, 1995
    Last Data Update: December 12, 1995
    Data Source Date: April 05, 2012
  • Location
  • Address: 1333 South Pacific Coast Highway, Redondo Beach, CA 90277
    County: Los Angeles
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Los Angeles (West)
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
    Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
    Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
    Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
    CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
    Core Based Statistical Division: Los Angeles-Long Beach-Glendale, CA (#31084)
  • History of Changes
  • Merger - Without Assistance
    Participated in Reorganization
  • Financial Summary
  • Total assets: $61.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $41Total assets
  • $69,677Cash and due from depository institutions
  • $4,922Interest-bearing balances
  • $392Securities
  • $11,940Federal funds sold & reverse repurchase agreements
  • $3,700Net loans & leases
  • $45,780Loan loss allowance
  • $819Trading account assets
  • $0Bank premises and fixed assets
  • $1,675Other real estate owned
  • $684Goodwill and other intangibles
  • $976Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $69,677Total liabilities
  • $65,543Total deposits
  • $65,187Interest-bearing deposits
  • $48,862Deposits held in domestic offices
  • 65187.00%% insured (estimated)
  • $78Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $356Total equity capital
  • $356Total bank equity capital
  • $4,134Perpetual preferred stock
  • $0Common stock
  • $1,870Surplus
  • $1,870Undivided profits
  • Memoranda
  • $394Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $833Income earned, not collected on loans
  • $392Earning assets
  • $61,812Long-term assets (5+ years)
  • $6,365Average Assets, year-to-date
  • $66,688Average Assets, quarterly
  • $67,728Volatile liabilities
  • $11,343Insider loans
  • $95FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $5,358Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $4,134Total risk weighted assets
  • $50,804Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,445Total interest expense
  • $1,374Net interest income
  • $4,071Provision for loan and lease losses
  • $505Total noninterest income
  • $642Fiduciary activities
  • $0Service charges on deposit accounts
  • $398Trading account gains & fees
  • $0Additional noninterest income
  • $244Total noninterest expense
  • $4,041Salaries and employee benefits
  • $1,847Premises and equipment expense
  • $477Additional noninterest expense
  • $1,717Pre-tax net operating income
  • $167Securities gains (losses)
  • -$1Applicable income taxes
  • $54Income before extraordinary items
  • $112Extraordinary gains - net
  • $0Net income attributable to bank
  • $112Net charge-offs
  • $237Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1994)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 9.15%Cost of funding earning assets
  • 2.31%Net interest margin
  • 6.84%Noninterest income to earning assets
  • 1.08%Noninterest expense to earning assets
  • 6.79%Net operating income to assets
  • 0.17%Return on assets (ROA)
  • 0.17%Pretax return on assets
  • 0.25%Return on equity (ROE)
  • 2.70%Retained earnings to average equity (YTD only)
  • 2.70%Net charge-offs to loans
  • 0.52%Credit loss provision to net charge-offs
  • 213.08%Efficiency ratio
  • 85,742Assets per employee
  • 1.70%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.76%Loss allowance to noncurrent loans
  • 98.32%Noncurrent assets plus other real estate owned to assets
  • 2.18%Noncurrent loans to loans
  • 1.79%Net loans and leases to deposits
  • 70.23%Net loans and leases to core deposits
  • 85.02%Equity capital to assets
  • 5.93%Core capital (leverage) ratio
  • 6.04%Tier 1 risk-based capital ratio
  • 8.14%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $66,688Average earning assets
  • $4,148Average equity
  • $59,540Average loans

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