Direct Merchants Credit Card Bank, National Association - Overview
General
FDIC Certificate #: 33986 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:HSBC Bank Nevada, National Association (#33863) Federal Reserve ID: 2270795 Date Established: Febuary 14, 1995 WWW:http://www.directmerchantsbank.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) FDIC's unique #: 55564 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: Febuary 14, 1995 Last Structure Change Effective Date: December 01, 2005 Last Structure Change Process Date: January 03, 2006 Last Data Update: January 03, 2006 Data Source Date: April 05, 2012
Location
Address: 16430 North Scottsdale Road, Scottsdale, AZ 85254 County: Maricopa Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Phoenix Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Phoenix-Mesa, AZ (#6200) Core Based Statistical Area (CBSA): Phoenix-Mesa-Glendale, AZ (#38060) CBSA Metro Statistical Area: Phoenix-Mesa-Glendale, AZ (#38060)
Financial Summary
Total assets: $194.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2004)
Dollar figures in thousands
8Total employees (full-time equivalent)
$343,489Total assets
$29,519Cash and due from depository institutions
$562Interest-bearing balances
$200,780Securities
$22,450Federal funds sold & reverse repurchase agreements
$54,795Net loans & leases
$11,264Loan loss allowance
$0Trading account assets
$0Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$35,945All other assets
$343,489Total liabilities and capital
$97,575Total liabilities
$4,076Total deposits
$3,907Interest-bearing deposits
$4,076Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$93,499All other liabilities
$245,914Total equity capital
$245,914Total bank equity capital
$245,914Perpetual preferred stock
$0Common stock
$1,200Surplus
$173,550Undivided profits
Memoranda
$71,164Noncurrent loans and leases
$6,680,543Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,983Earning assets
$0Long-term assets (5+ years)
$611Average Assets, year-to-date
$278,587Average Assets, quarterly
$1,330Volatile liabilities
$347,462Insider loans
$343,764FHLB advances
$500Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,680,543Total unused commitments
$0Restructured Loans and leases
$2,822Derivatives
Income and Expense (December 31, 2004)
Dollar figures in thousands
$20,906Total interest income
$113Total interest expense
$20,793Net interest income
$423Provision for loan and lease losses
$276,902Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$276,902Additional noninterest income
$180,811Total noninterest expense
$2,436Salaries and employee benefits
$17Premises and equipment expense
$178,358Additional noninterest expense
$116,461Pre-tax net operating income
$0Securities gains (losses)
$45,886Applicable income taxes
$70,575Income before extraordinary items
$0Extraordinary gains - net
$70,575Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$22,939Sale, conversion, retirement of capital stock, net
$66,000Net operating income
Performance and Condition Ratios (December 31, 2004)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.48%Yield on earning assets
0.04%Cost of funding earning assets
7.44%Net interest margin
99.05%Noninterest income to earning assets
64.68%Noninterest expense to earning assets
20.31%Net operating income to assets
20.31%Return on assets (ROA)
33.52%Pretax return on assets
28.49%Return on equity (ROE)
1.85%Retained earnings to average equity (YTD only)
27.92%Net charge-offs to loans
1.84%Credit loss provision to net charge-offs
5.10%Efficiency ratio
60,737Assets per employee
42.94%Cash dividends to net income (YTD only)
Condition Ratios (%)
93.52%Loss allowance to loans
17.05%Loss allowance to noncurrent loans
282.80%Noncurrent assets plus other real estate owned to assets
1.16%Noncurrent loans to loans
6.03%Net loans and leases to deposits
1344.33%Net loans and leases to core deposits
1532.30%Equity capital to assets
71.59%Core capital (leverage) ratio
70.50%Tier 1 risk-based capital ratio
112.33%Total risk-based capital ratio
Memoranda
$114Average assets
$347,462Average earning assets
$247,733Average equity
$279,544Average loans
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Direct Merchants Credit Card Bank, National Association
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