County Bank in Merced, California (CA)



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County Bank
GeneralFDIC Certificate #: 22574
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: Westamerica Bank (#3430)
Federal Reserve ID: 191663
Date Established: December 22, 1977
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 40 (Interstate: No)
OTS Docket #: 11117
FDIC's unique #: 15747
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: December 22, 1977
Last Structure Change Effective Date: Febuary 06, 2009
Last Structure Change Process Date: Febuary 10, 2009
Last Data Update: Febuary 10, 2009
Data Source Date: April 05, 2012
LocationAddress: 550 W. Main Street, Merced, CA 95340
County: Merced
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Sacramento
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Merced, CA (#4940)
Core Based Statistical Area (CBSA): Merced, CA (#32900)
CBSA Metro Statistical Area: Merced, CA (#32900)
Financial SummaryTotal assets: $1,711.6 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)465
Total assets$1,711,552
Cash and due from depository institutions$51,071
Interest-bearing balances$196
Securities$213,441
Federal funds sold & reverse repurchase agreements$51,570
Net loans & leases$1,256,237
Loan loss allowance $38,230
Trading account assets$0
Bank premises and fixed assets$47,740
Other real estate owned$21,036
Goodwill and other intangibles$3,315
All other assets$67,142
Life insurance assets$37,392
Total liabilities and capital$1,711,552
Total liabilities$1,649,830
Total deposits$1,324,635
Interest-bearing deposits$1,070,227
Deposits held in domestic offices$1,324,635
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $100,000
Trading liabilities$0
Other borrowed funds $192,386
Subordinated debt $20,000
All other liabilities $12,809
Total equity capital$61,722
Total bank equity capital$61,722
Perpetual preferred stock$61,722
Common stock$0
Surplus$50,076
Undivided profits $0
Memoranda
Noncurrent loans and leases $11,646
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $256,460
Income earned, not collected on loans $0
Earning assets $109,282
Long-term assets (5+ years) $0
Average Assets, year-to-date $6,835
Average Assets, quarterly $1,521,444
Volatile liabilities $375,006
Insider loans $1,957,158
FHLB advances $1,782,269
Loans and leases held for sale $376,412
Unused loan commitments $1,388
Tier 1 (core) risk-based capital $185,000
Tier 2 risk-based capital $0
Total risk weighted assets $76,760
Total unused commitments $256,460
Restructured Loans and leases $0
Derivatives$38,187
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $117,175
Total interest expense $40,462
Net interest income $76,713
Provision for loan and lease losses $55,370
Total noninterest income $7,668
Fiduciary activities $0
Service charges on deposit accounts $9,863
Trading account gains & fees $0
Additional noninterest income -$2,195
Total noninterest expense $115,774
Salaries and employee benefits $35,492
Premises and equipment expense $15,153
Additional noninterest expense $65,129
Pre-tax net operating income -$86,763
Securities gains (losses) -$1,893
Applicable income taxes $7,381
Income before extraordinary items -$96,037
Extraordinary gains - net $0
Net income attributable to bank -$96,037
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $52,940
Net operating income $2,775
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.76%
Cost of funding earning assets 2.33%
Net interest margin 4.42%
Noninterest income to earning assets 0.44%
Noninterest expense to earning assets 6.67%
Net operating income to assets -4.81%
Return on assets (ROA) -4.91%
Pretax return on assets -4.53%
Return on equity (ROE) -78.01%
Retained earnings to average equity (YTD only) -80.27%
Net charge-offs to loans 3.72%
Credit loss provision to net charge-offs 104.59%
Efficiency ratio-0.59%
Assets per employee$107,478
Cash dividends to net income (YTD only)3.68%
Condition Ratios (%)
Loss allowance to loans -2.89%
Loss allowance to noncurrent loans 2.95%
Noncurrent assets plus other real estate owned to assets 34.98%
Noncurrent loans to loans 7.30%
Net loans and leases to deposits8.44%
Net loans and leases to core deposits 94.84%
Equity capital to assets 109.16%
Core capital (leverage) ratio 3.61%
Tier 1 risk-based capital ratio 3.12%
Total risk-based capital ratio 3.87%
Memoranda
Average assets$7
Average earning assets$1,957,158
Average equity $123,105
Average loans $1,734,496
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Total Fiduciary and Related Assets (December 31, 2008)
(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$49,791
Number of Accounts1
Personal trust and agency accounts$34,935
Employee benefit-defined contribution accounts$20,650
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$222
Investment management agency accounts$357
Other fiduciary accounts$13,706
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts94
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$14,856
Corporate trust and agency accounts$884
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$2,151
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