FDIC Certificate #: 57736 Status: Inactive Closing history: Corrections Acquiring institution:CorTrust Bank National Association (#6063) Federal Reserve ID: 3273823 Date Established: June 21, 2004 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 423257 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 21, 2004 Last Structure Change Effective Date: September 11, 2009 Last Structure Change Process Date: September 14, 2009 Last Data Update: September 14, 2009 Data Source Date: April 05, 2012
Location
Address: 525 Commons Drive, Woodbury, MN 55125 County: Washington Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $72.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
16Total employees (full-time equivalent)
$83,841Total assets
$3,495Cash and due from depository institutions
$3,325Interest-bearing balances
$1,272Securities
$4,005Federal funds sold & reverse repurchase agreements
$71,922Net loans & leases
$4,482Loan loss allowance
$0Trading account assets
$541Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,606All other assets
$83,841Total liabilities and capital
$78,678Total liabilities
$72,413Total deposits
$64,886Interest-bearing deposits
$72,413Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$6,000Other borrowed funds
$0Subordinated debt
$265All other liabilities
$5,163Total equity capital
$5,163Total bank equity capital
$5,163Perpetual preferred stock
$0Common stock
$514Surplus
$8,138Undivided profits
Memoranda
$-3,489Noncurrent loans and leases
$7,043Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$9,758Earning assets
$402Long-term assets (5+ years)
$309Average Assets, year-to-date
$80,524Average Assets, quarterly
$17,108Volatile liabilities
$78,753Insider loans
$82,702FHLB advances
$13,817Loans and leases held for sale
$468Unused loan commitments
$6,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,043Total unused commitments
$52Restructured Loans and leases
$982Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$5,097Total interest income
$2,615Total interest expense
$2,482Net interest income
$4,247Provision for loan and lease losses
$39Total noninterest income
$0Fiduciary activities
$26Service charges on deposit accounts
$0Trading account gains & fees
$13Additional noninterest income
$3,072Total noninterest expense
$1,450Salaries and employee benefits
$416Premises and equipment expense
$1,206Additional noninterest expense
-$4,798Pre-tax net operating income
$0Securities gains (losses)
-$1,119Applicable income taxes
-$3,679Income before extraordinary items
$0Extraordinary gains - net
-$3,679Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$465Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.78%Yield on earning assets
3.48%Cost of funding earning assets
3.30%Net interest margin
0.05%Noninterest income to earning assets
4.09%Noninterest expense to earning assets
-4.67%Net operating income to assets
-4.67%Return on assets (ROA)
-6.09%Pretax return on assets
-49.64%Return on equity (ROE)
-49.64%Retained earnings to average equity (YTD only)
0.63%Net charge-offs to loans
913.33%Credit loss provision to net charge-offs
-1.18%Efficiency ratio
121,856Assets per employee
5.24%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.87%Loss allowance to noncurrent loans
45.93%Noncurrent assets plus other real estate owned to assets
11.64%Noncurrent loans to loans
12.77%Net loans and leases to deposits
99.32%Net loans and leases to core deposits
122.74%Equity capital to assets
6.16%Core capital (leverage) ratio
4.18%Tier 1 risk-based capital ratio
4.63%Total risk-based capital ratio
Memoranda
$6Average assets
$78,753Average earning assets
$7,412Average equity
$75,137Average loans
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