Brighton Bank in Salt Lake City, Utah (UT)
| Brighton Bank | |
|---|---|
| General | FDIC Certificate #: 22578 Status: Active Federal Reserve ID: 406974 Bank Holding Company (Regulatory Top Holder): Brighton Bancorp (RSSDID: 1027947, Location: Salt Lake City, UT) Date Established: January 03, 1978 WWW: http://www.brightonbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 5 (Domestic: 5, Interstate: No) FDIC's unique #: 15750 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: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 03, 1978 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 |
| Location | Address: 7101 Highland Drive, Salt Lake City, UT 84121 County: Salt Lake Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Salt Lake City Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160) Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482) Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620) CBSA Metro Statistical Area: Salt Lake City, UT (#41620) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $152.2 mil Equity capital: $21.3 mil Deposits held in domestic offices: $123.5 mil Return on assets (ROA): 1.51% ($2.3 mil) Quarterly return on assets: 1.43% ($2.2 mil) Return on Equity (ROE): 10.75% ($2.3 mil) Quarterly return on equity: 10.36% ($2.2 mil) Net income: $2.3 mil Quarterly Net income: $0.6 mil Pretax return on assets: 1.51% ($2,298.8 mil) Quarterly Pretax return on assets: 1.43% ($2,177.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 55 |
| Total assets | $152,239 |
| Cash and due from depository institutions | $46,850 |
| Interest-bearing balances | $39,956 |
| Securities | $28,320 |
| Federal funds sold & reverse repurchase agreements | $898 |
| Net loans & leases | $71,088 |
| Loan loss allowance | $2,155 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,828 |
| Other real estate owned | $1,585 |
| Goodwill and other intangibles | $0 |
| All other assets | $670 |
| Life insurance assets | $152,239 |
| Total liabilities and capital | $130,939 |
| Total liabilities | $123,484 |
| Total deposits | $110,269 |
| Interest-bearing deposits | $123,484 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 6778.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $677 |
| All other liabilities | $21,300 |
| Total equity capital | $21,300 |
| Total bank equity capital | $21,300 |
| Perpetual preferred stock | $0 |
| Common stock | $500 |
| Surplus | $3,709 |
| Undivided profits | $17,091 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $25 |
| Income earned, not collected on loans | $39 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $427 |
| Average Assets, year-to-date | $140,262 |
| Average Assets, quarterly | $24,071 |
| Volatile liabilities | $149,390 |
| Insider loans | $153,960 |
| FHLB advances | $82,281 |
| Loans and leases held for sale | $152,853 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $20,687 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $8,271 |
| Derivatives | $57 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $7,127 |
| Total interest expense | $216 |
| Net interest income | $6,911 |
| Provision for loan and lease losses | $279 |
| Total noninterest income | $1,554 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $1,556 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$2 |
| Total noninterest expense | $5,924 |
| Salaries and employee benefits | $3,828 |
| Premises and equipment expense | $540 |
| Additional noninterest expense | $1,556 |
| Pre-tax net operating income | $2,262 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $2,262 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,262 |
| Net charge-offs | $0 |
| Cash dividends | $2,262 |
| Sale, conversion, retirement of capital stock, net | $401 |
| Net operating income | $1,510 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.20% |
| Cost of funding earning assets | 0.16% |
| Net interest margin | 5.04% |
| Noninterest income to earning assets | 1.13% |
| Noninterest expense to earning assets | 4.32% |
| Net operating income to assets | 1.51% |
| Return on assets (ROA) | 1.51% |
| Pretax return on assets | 1.51% |
| Return on equity (ROE) | 10.75% |
| Retained earnings to average equity (YTD only) | 3.57% |
| Net charge-offs to loans | 0.53% |
| Credit loss provision to net charge-offs | 69.58% |
| Efficiency ratio | 6.34% |
| Assets per employee | $69,982 |
| Cash dividends to net income (YTD only) | 2.77% |
| Condition Ratios (%) | |
| Loss allowance to loans | 66.76% |
| Loss allowance to noncurrent loans | 2.94% |
| Noncurrent assets plus other real estate owned to assets | 5525.64% |
| Noncurrent loans to loans | 1.07% |
| Net loans and leases to deposits | 0.05% |
| Net loans and leases to core deposits | 57.57% |
| Equity capital to assets | 57.57% |
| Core capital (leverage) ratio | 13.99% |
| Tier 1 risk-based capital ratio | 13.53% |
| Total risk-based capital ratio | 25.14% |
| Memoranda | |
| Average assets | $26 |
| Average earning assets | $149,390 |
| Average equity | $21,036 |
| Average loans | $137,121 |
| 5 Utah Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 15750 | Brighton Bank | 7101 Highland Drive, Salt Lake City, UT 84121 | January 03, 1978 | Full Service Brick and Mortar |  |
| 1 | 254914 | South Salt Lake Branch | 93 West 3300 South, Salt Lake City, UT 84115 | September 04, 1979 | Full Service Brick and Mortar |  |
| 2 | 15479 | Midtown Branch | 1735 South 300 West, Salt Lake City, UT 84115 | May 05, 1976 | Full Service Brick and Mortar | |
| 3 | 253686 | North Temple Branch | 940 West North Temple, Salt Lake City, UT 84116 | July 29, 1981 | Full Service Brick and Mortar | |
| 4 | 254915 | City Center Branch | 311 South State Street, Salt Lake City, UT 84111 | July 07, 1986 | Full Service Brick and Mortar | |
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