Colorado Mountain Bank in Westcliffe, Colorado (CO)



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Colorado Mountain Bank
GeneralFDIC Certificate #: 22776
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First State Bank of Colorado (#12373)
Federal Reserve ID: 353359
Date Established: January 02, 1979
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Interstate: No)
FDIC's unique #: 15904
Numeric code: 13
Regulator: FED
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: January 02, 1979
Last Structure Change Effective Date: June 30, 2010
Last Structure Change Process Date: July 09, 2010
Last Data Update: July 09, 2010
Data Source Date: April 05, 2012
LocationAddress: 1000 Main Street, Westcliffe, CO 81252
County: Custer
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial SummaryTotal assets: $81.7 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)31
Total assets$83,964
Cash and due from depository institutions$6,544
Interest-bearing balances$5,176
Securities$3,932
Federal funds sold & reverse repurchase agreements$1,620
Net loans & leases$66,964
Loan loss allowance $1,826
Trading account assets$0
Bank premises and fixed assets$636
Other real estate owned$3,031
Goodwill and other intangibles$0
All other assets$1,237
Life insurance assets$0
Total liabilities and capital$83,964
Total liabilities$75,947
Total deposits$75,571
Interest-bearing deposits$60,117
Deposits held in domestic offices$75,571
% insured (estimated)96.91%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $376
Total equity capital$8,017
Total bank equity capital$8,017
Perpetual preferred stock$8,017
Common stock$0
Surplus$288
Undivided profits $424
Memoranda
Noncurrent loans and leases $7,305
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,030
Income earned, not collected on loans $0
Earning assets $3,095
Long-term assets (5+ years) $0
Average Assets, year-to-date $385
Average Assets, quarterly $77,692
Volatile liabilities $9,137
Insider loans $83,706
FHLB advances $83,833
Loans and leases held for sale $19,333
Unused loan commitments $1,186
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $5,030
Restructured Loans and leases $1,730
Derivatives$799
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $5,370
Total interest expense $1,610
Net interest income $3,760
Provision for loan and lease losses $850
Total noninterest income $419
Fiduciary activities $0
Service charges on deposit accounts $330
Trading account gains & fees $0
Additional noninterest income $89
Total noninterest expense $2,935
Salaries and employee benefits $1,593
Premises and equipment expense $267
Additional noninterest expense $1,075
Pre-tax net operating income $394
Securities gains (losses) $0
Applicable income taxes $115
Income before extraordinary items $279
Extraordinary gains - net $0
Net income attributable to bank $279
Net charge-offs $0
Cash dividends $279
Sale, conversion, retirement of capital stock, net $860
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.91%
Cost of funding earning assets 2.07%
Net interest margin 4.84%
Noninterest income to earning assets 0.54%
Noninterest expense to earning assets 3.77%
Net operating income to assets 0.33%
Return on assets (ROA) 0.33%
Pretax return on assets 0.47%
Return on equity (ROE) 3.50%
Retained earnings to average equity (YTD only) 3.50%
Net charge-offs to loans 1.16%
Credit loss provision to net charge-offs 98.84%
Efficiency ratio1.45%
Assets per employee$70,232
Cash dividends to net income (YTD only)2.71%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.65%
Noncurrent assets plus other real estate owned to assets 59.00%
Noncurrent loans to loans 7.30%
Net loans and leases to deposits4.50%
Net loans and leases to core deposits 88.61%
Equity capital to assets 119.07%
Core capital (leverage) ratio 9.55%
Tier 1 risk-based capital ratio 9.50%
Total risk-based capital ratio 12.73%
Memoranda
Average assets$14
Average earning assets$83,706
Average equity $7,962
Average loans $77,753
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