Central Bank in Springville, Utah (UT)



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Central Bank
GeneralFDIC Certificate #: 9204
Status: Active
Federal Reserve ID: 622774
Bank Holding Company (Regulatory Top Holder): Central Bancorporation (RSSDID: 1025662, Location: Provo, UT)
Date Established: October 17, 1891
WWW: http://www.cbutah.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Domestic: 10, Interstate: No)
OTS Docket #: 10206
FDIC's unique #: 5893
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: January 01, 1934
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: 202 South Main Street, Springville, UT 84663
County: Utah
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): Provo-Orem, UT (#6520)
Core Based Statistical Area (CBSA): Provo-Orem, UT (#39340)
CBSA Metro Statistical Area: Provo-Orem, UT (#39340)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $662.1 mil
Equity capital: $105.3 mil
Deposits held in domestic offices: $508.4 mil
Return on assets (ROA): 0.68% ($4.5 mil)
Quarterly return on assets: 0.54% ($3.6 mil)
Return on Equity (ROE): 4.27% ($4.5 mil)
Quarterly return on equity: 3.36% ($3.5 mil)
Net income: $4.4 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 0.97% ($6,422.4 mil)
Quarterly Pretax return on assets: 0.84% ($5,561.6 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)197
Total assets$662,099
Cash and due from depository institutions$12,132
Interest-bearing balances$2,600
Securities$192,215
Federal funds sold & reverse repurchase agreements$21,784
Net loans & leases$348,453
Loan loss allowance $12,383
Trading account assets$0
Bank premises and fixed assets$15,102
Other real estate owned$53,716
Goodwill and other intangibles$751
All other assets$17,946
Life insurance assets$662,099
Total liabilities and capital$556,766
Total liabilities$508,408
Total deposits$475,193
Interest-bearing deposits$508,408
Deposits held in domestic offices$83
% insured (estimated)46120.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $2,238
All other liabilities $105,333
Total equity capital$105,333
Total bank equity capital$105,333
Perpetual preferred stock$0
Common stock$528
Surplus$1,572
Undivided profits $103,233
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,066
Income earned, not collected on loans $8,831
Earning assets $0
Long-term assets (5+ years) $3,523
Average Assets, year-to-date $565,052
Average Assets, quarterly $100,935
Volatile liabilities $647,717
Insider loans $662,746
FHLB advances $478,305
Loans and leases held for sale $655,788
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $101,273
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $80,088
Derivatives$0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $31,134
Total interest expense $4,260
Net interest income $26,874
Provision for loan and lease losses $4,900
Total noninterest income $5,021
Fiduciary activities $442
Service charges on deposit accounts $1,627
Trading account gains & fees $0
Additional noninterest income $2,952
Total noninterest expense $21,884
Salaries and employee benefits $12,498
Premises and equipment expense $2,002
Additional noninterest expense $7,384
Pre-tax net operating income $5,111
Securities gains (losses) $1,193
Applicable income taxes $1,891
Income before extraordinary items $4,413
Extraordinary gains - net $0
Net income attributable to bank $4,413
Net charge-offs $0
Cash dividends $4,413
Sale, conversion, retirement of capital stock, net $2,915
Net operating income $1,515
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.67%
Cost of funding earning assets 0.78%
Net interest margin 4.90%
Noninterest income to earning assets 0.92%
Noninterest expense to earning assets 3.99%
Net operating income to assets 0.55%
Return on assets (ROA) 0.68%
Pretax return on assets 0.97%
Return on equity (ROE) 4.27%
Retained earnings to average equity (YTD only) 2.80%
Net charge-offs to loans 0.81%
Credit loss provision to net charge-offs 168.10%
Efficiency ratio3.43%
Assets per employee$68,613
Cash dividends to net income (YTD only)3.36%
Condition Ratios (%)
Loss allowance to loans 34.33%
Loss allowance to noncurrent loans 3.43%
Noncurrent assets plus other real estate owned to assets 140.22%
Noncurrent loans to loans 9.45%
Net loans and leases to deposits2.45%
Net loans and leases to core deposits 68.54%
Equity capital to assets 76.81%
Core capital (leverage) ratio 15.91%
Tier 1 risk-based capital ratio 15.44%
Total risk-based capital ratio 21.17%
Memoranda
Average assets$22
Average earning assets$647,717
Average equity $103,461
Average loans $548,638
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$153,281
Number of Accounts1
Personal trust and agency accounts$60,376
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$24,289
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$36,087
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1261
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$92,905
Corporate trust and agency accounts$0
Other fiduciary accounts$17,576
Fiduciary accounts held in foreign offices$75,329
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10 Utah Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05893Central Bank202 South Main Street, Springville, UT 84663October 17, 1891Full Service Brick and Mortar
1219657Provo Branch75 North University Avenue, Provo, UT 84601July 01, 1966Full Service Brick and Mortar
2219658Spanish Fork BranchOne North Main Street, Spanish Fork, UT 84660October 03, 1969Full Service Brick and Mortar
3219659Riverside Plaza Branch1300 North State Street, Provo, UT 84601July 27, 1970Full Service Brick and Mortar
4219660Mapleton Branch385 North Main St, Mapleton, UT 84663October 05, 1972Full Service Brick and Mortar
5219661Payson Branch182 North Main Street, Payson, UT 84651August 01, 1980Full Service Brick and Mortar
6219662Orem Branch415 North State St, Orem, UT 84057October 01, 1982Full Service Brick and Mortar
7219663American Fork Branch175 East Main St, American Fork, UT 84003March 25, 1996Full Service Brick and Mortar
8419235Lehi Office475 East Main Street, Lehi, UT 84043June 11, 2003Full Service Brick and Mortar
9480307Pleasant Grove Branch801 S Pleasant Grove Blvd, Pleasant Grove, UT 84062Febuary 28, 2008Full Service Brick and Mortar
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