Citizens Bank in Corvallis, Oregon (OR)

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Citizens Bank
GeneralFDIC Certificate #: 17809
Status: Active
Federal Reserve ID: 98463
Bank Holding Company (Regulatory Top Holder): Citizens Bancorp (RSSDID: 2519038, Location: Corvallis, OR)
Date Established: October 05, 1957
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 14 (Domestic: 14, Interstate: No)
OTS Docket #: 11785
FDIC's unique #: 11757
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: October 05, 1957
Last Structure Change Effective Date: Febuary 20, 2009
Last Structure Change Process Date: Febuary 23, 2009
Last Data Update: Febuary 23, 2009
Data Source Date: April 05, 2012
LocationAddress: 275 S. W. Third Street, Corvallis, OR 97339
County: Benton
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Portland
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Corvallis, OR (#1890)
Combined Statistical Area (CSA): Albany-Corvallis-Lebanon, OR (#102)
Core Based Statistical Area (CBSA): Corvallis, OR (#18700)
CBSA Metro Statistical Area: Corvallis, OR (#18700)
History of ChangesParticipated in FDIC Assisted Absorption/Consolidation/Merger
Financial SummaryTotal assets: $448.2 mil
Equity capital: $55.1 mil
Deposits held in domestic offices: $356.5 mil
Return on assets (ROA): 1.10% ($4.9 mil)
Quarterly return on assets: 1.15% ($5.2 mil)
Return on Equity (ROE): 8.72% ($4.8 mil)
Quarterly return on equity: 9.29% ($5.1 mil)
Net income: $4.8 mil
Quarterly Net income: $1.3 mil
Pretax return on assets: 1.69% ($7,573.8 mil)
Quarterly Pretax return on assets: 1.69% ($7,573.8 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)145
Total assets$448,156
Cash and due from depository institutions$79,681
Interest-bearing balances$65,918
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$291,210
Loan loss allowance $3,493
Trading account assets$0
Bank premises and fixed assets$12,758
Other real estate owned$3,300
Goodwill and other intangibles$0
All other assets$11,162
Life insurance assets$448,156
Total liabilities and capital$393,030
Total liabilities$356,459
Total deposits$321,018
Interest-bearing deposits$356,459
Deposits held in domestic offices$88
% insured (estimated)33055.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$25
Other borrowed funds $0
Subordinated debt $3,491
All other liabilities $55,126
Total equity capital$55,126
Total bank equity capital$55,126
Perpetual preferred stock$0
Common stock$17,564
Undivided profits $13,054
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $561
Income earned, not collected on loans $5,943
Earning assets $0
Long-term assets (5+ years) $1,740
Average Assets, year-to-date $407,173
Average Assets, quarterly $93,221
Volatile liabilities $434,042
Insider loans $449,507
FHLB advances $334,384
Loans and leases held for sale $451,156
Unused loan commitments $4,782
Tier 1 (core) risk-based capital $3,107
Tier 2 risk-based capital $55,079
Total risk weighted assets $1,675
Total unused commitments $0
Restructured Loans and leases $65,318
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $20,304
Total interest expense $877
Net interest income $19,427
Provision for loan and lease losses $1,050
Total noninterest income $3,044
Fiduciary activities $0
Service charges on deposit accounts $1,096
Trading account gains & fees $0
Additional noninterest income $1,948
Total noninterest expense $14,088
Salaries and employee benefits $8,825
Premises and equipment expense $1,565
Additional noninterest expense $3,698
Pre-tax net operating income $7,333
Securities gains (losses) $8
Applicable income taxes $2,576
Income before extraordinary items $4,765
Extraordinary gains - net $0
Net income attributable to bank $4,765
Net charge-offs $0
Cash dividends $4,765
Sale, conversion, retirement of capital stock, net $1,244
Net operating income $1,846
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.15%
Cost of funding earning assets 0.22%
Net interest margin 4.93%
Noninterest income to earning assets 0.77%
Noninterest expense to earning assets 3.58%
Net operating income to assets 1.10%
Return on assets (ROA) 1.10%
Pretax return on assets 1.69%
Return on equity (ROE) 8.72%
Retained earnings to average equity (YTD only) 5.34%
Net charge-offs to loans 0.41%
Credit loss provision to net charge-offs 84.41%
Efficiency ratio6.74%
Assets per employee$62,694
Cash dividends to net income (YTD only)3.09%
Condition Ratios (%)
Loss allowance to loans 38.74%
Loss allowance to noncurrent loans 1.19%
Noncurrent assets plus other real estate owned to assets 58.78%
Noncurrent loans to loans 2.06%
Net loans and leases to deposits2.02%
Net loans and leases to core deposits 81.70%
Equity capital to assets 82.67%
Core capital (leverage) ratio 12.30%
Tier 1 risk-based capital ratio 12.21%
Total risk-based capital ratio 16.47%
Average assets$18
Average earning assets$434,042
Average equity $54,645
Average loans $393,962
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14 Oregon Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011757Citizens Bank275 S. W. Third Street, Corvallis, OR 97339October 05, 1957Full Service Brick and Mortar
2242845Circle Boulevard Branch978 N.W. Circle Boulevard, Corvallis, OR 97330April 06, 1970Full Service Brick and Mortar
3242846Philomath Branch1224 Main Street, Philomath, OR 97370December 09, 1974Full Service Brick and Mortar
5242848Albany Branch2315 Se 14th Avenue, Albany, OR 97321December 05, 1988Full Service Brick and Mortar
615916Tri County Branch955 Ivy Street, Junction City, OR 97448January 23, 1979Full Service Brick and Mortar
8242849Mennonite Home5353 Columbus St Se Cottage 5a, Albany, OR 97321March 12, 1996Limited Service Facility
9242850Mcminnville Branch455 Northeast Baker Street, Mcminnville, OR 97128April 05, 1999Full Service Brick and Mortar
10242851West Albany Branch2230 Pacific Boulevard, S.W., Albany, OR 97321January 19, 1999Full Service Brick and Mortar
11364448Harrisburg Branch230 N 3rd St Suite 101, Harrisburg, OR 97446July 31, 2001Full Service Brick and Mortar
12365502Dallas Branch583 Jefferson Street, Se, Dallas, OR 97338October 28, 2002Full Service Brick and Mortar
13423325Springfield Branch2355 Olympic Street, Springfield, OR 97477August 13, 2003Full Service Brick and Mortar
14467442Lebanon Branch2122 S. Santiam Hwy., Lebanon, OR 97355August 01, 2007Full Service Brick and Mortar
1579504Silverton Branch217 East Main Street, Silverton, OR 97381April 24, 2000Full Service Brick and Mortar
16436990Oregon City Branch19245 South Molalla Avenue, Oregon City, OR 97045Febuary 01, 2005Full Service Brick and Mortar
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