Cascade Bank in Everett, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 30, 2011

  • Cascade Bank in Everett, Washington (WA)
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Cascade Bank - Overview

  • General
  • FDIC Certificate #: 28823
    Status: Inactive
    Closing history: Absorption - Without Assistance
    Acquiring institution: Opus Bank (#33806)
    Federal Reserve ID: 641476
    Date Established: January 01, 1916
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 22 (Interstate: No)
    OTS Docket #: 2435
    FDIC's unique #: 41657
    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: December 02, 1957
    Last Structure Change Effective Date: June 30, 2011
    Last Structure Change Process Date: July 07, 2011
    Last Data Update: July 07, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 2828 Colby Avenue, Everett, WA 98201
    County: Snohomish
    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
    Metropolitan Statistical Area (MSA): Seattle-Bellevue-Everett, WA (#7600)
    Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
    Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
    Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660)
    CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660)
    Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
  • Financial Summary
  • Total assets: $1,457.8 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, 2010)

  • Dollar figures in thousands
  • 200Total employees (full-time equivalent)
  • $1,499,122Total assets
  • $131,986Cash and due from depository institutions
  • $125,351Interest-bearing balances
  • $287,743Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $967,873Net loans & leases
  • $26,106Loan loss allowance
  • $0Trading account assets
  • $13,325Bank premises and fixed assets
  • $34,412Other real estate owned
  • $255Goodwill and other intangibles
  • $25,489Life insurance assets
  • $63,528All other assets
  • $1,499,122Total liabilities and capital
  • $1,417,781Total liabilities
  • $1,108,884Total deposits
  • $997,512Interest-bearing deposits
  • $1,108,884Deposits held in domestic offices
  • 95.34%% insured (estimated)
  • $145,000Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $159,000Other borrowed funds
  • $0Subordinated debt
  • $4,897All other liabilities
  • $81,341Total equity capital
  • $81,341Total bank equity capital
  • $81,341Perpetual preferred stock
  • $0Common stock
  • $1,418Surplus
  • $103,544Undivided profits
  • Memoranda
  • $-23,621Noncurrent loans and leases
  • $97,440Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $48,238Earning assets
  • $0Long-term assets (5+ years)
  • $4,884Average Assets, year-to-date
  • $1,380,967Average Assets, quarterly
  • $349,600Volatile liabilities
  • $1,639,943Insider loans
  • $1,561,996FHLB advances
  • $186,013Loans and leases held for sale
  • $2,664Unused loan commitments
  • $159,000Tier 1 (core) risk-based capital
  • $159,000Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $97,440Total unused commitments
  • $63,773Restructured Loans and leases
  • $12,856Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $71,470Total interest income
  • $32,909Total interest expense
  • $38,561Net interest income
  • $56,515Provision for loan and lease losses
  • -$3,871Total noninterest income
  • $0Fiduciary activities
  • $3,855Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$7,726Additional noninterest income
  • $52,794Total noninterest expense
  • $13,832Salaries and employee benefits
  • $4,628Premises and equipment expense
  • $34,334Additional noninterest expense
  • -$74,619Pre-tax net operating income
  • $8,618Securities gains (losses)
  • $4,012Applicable income taxes
  • -$70,013Income before extraordinary items
  • $0Extraordinary gains - net
  • -$70,013Net income attributable to bank
  • $0Net charge-offs
  • -$70,013Cash dividends
  • $56,328Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.73%Yield on earning assets
  • 2.18%Cost of funding earning assets
  • 2.55%Net interest margin
  • -0.26%Noninterest income to earning assets
  • 3.49%Noninterest expense to earning assets
  • -4.79%Net operating income to assets
  • -4.27%Return on assets (ROA)
  • -4.02%Pretax return on assets
  • -61.67%Return on equity (ROE)
  • -61.67%Retained earnings to average equity (YTD only)
  • 5.12%Net charge-offs to loans
  • 100.33%Credit loss provision to net charge-offs
  • -0.32%Efficiency ratio
  • 114,638Assets per employee
  • 7.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.63%Loss allowance to noncurrent loans
  • 54.12%Noncurrent assets plus other real estate owned to assets
  • 5.51%Noncurrent loans to loans
  • 4.85%Net loans and leases to deposits
  • 87.28%Net loans and leases to core deposits
  • 90.64%Equity capital to assets
  • 5.43%Core capital (leverage) ratio
  • 5.56%Tier 1 risk-based capital ratio
  • 8.33%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $1,639,943Average earning assets
  • $113,536Average equity
  • $1,510,617Average loans

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