FDIC Certificate #: 35228 Status: Inactive Federal Reserve ID: 3803789 Date Established: November 03, 1999 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 76784 Numeric code: 23 Regulator: FDIC 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: November 03, 1999 Last Structure Change Effective Date: June 30, 2009 Last Structure Change Process Date: June 30, 2009 Last Data Update: June 30, 2009 Data Source Date: April 05, 2012
Location
Address: 6955 South Union Park Center, Suite 300, Midvale, UT 84047 County: Salt Lake Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: New York 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): Salt Lake City-Ogden, UT (#7160) Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482) Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620) CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
History of Changes
Other Liquidations and Closings
Change in Insurance Status
Financial Summary
Total assets: $1.9 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
0Total employees (full-time equivalent)
$1,857Total assets
$1,786Cash and due from depository institutions
$1,786Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$0Loan loss allowance
$0Trading account assets
$0Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$71All other assets
$1,857Total liabilities and capital
$222Total liabilities
$0Total deposits
$0Interest-bearing deposits
$0Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$222All other liabilities
$1,635Total equity capital
$1,635Total bank equity capital
$1,635Perpetual preferred stock
$0Common stock
$1Surplus
$1,093Undivided profits
Memoranda
$541Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$2Average Assets, year-to-date
$1,786Average Assets, quarterly
$0Volatile liabilities
$24,800Insider loans
$11,590FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$689Total interest income
$6Total interest expense
$683Net interest income
$0Provision for loan and lease losses
$63,791Total noninterest income
$63,791Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$0Additional noninterest income
$834Total noninterest expense
$390Salaries and employee benefits
$52Premises and equipment expense
$392Additional noninterest expense
$63,640Pre-tax net operating income
$41Securities gains (losses)
$23,347Applicable income taxes
$40,334Income before extraordinary items
$0Extraordinary gains - net
$40,334Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$65,300Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.17%Yield on earning assets
0.04%Cost of funding earning assets
4.13%Net interest margin
386.02%Noninterest income to earning assets
5.05%Noninterest expense to earning assets
162.53%Net operating income to assets
162.63%Return on assets (ROA)
256.77%Pretax return on assets
186.79%Return on equity (ROE)
-115.62%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
1,294Assets per employee
0.00%Cash dividends to net income (YTD only)
Condition Ratios (%)
161.90%Loss allowance to loans
0.00%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
0.00%Net loans and leases to core deposits
0.00%Equity capital to assets
88.05%Core capital (leverage) ratio
15.79%Tier 1 risk-based capital ratio
423.58%Total risk-based capital ratio
Memoranda
$424Average assets
$24,800Average earning assets
$21,594Average equity
$16,525Average loans
Total Fiduciary and Related Assets (December 31, 2007)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
YesFiduciary powers granted
YesFiduciary or related activity
$5,168,025Managed Assets
1Number of Accounts
$0Personal trust and agency accounts
$0Employee benefit-defined contribution accounts
$0Employee benefit-defined benefit accounts
$0Other retirement accounts
$0Corporate trust and agency accounts
$0Investment management agency accounts
$0Other fiduciary accounts
$0Fiduciary accounts held in foreign offices
$0Non-managed Assets
75Number of Accounts
$0Personal trust and agency accounts
$0Employee benefit-defined contribution accounts
$0Employee benefit-defined benefit accounts
$5,168,025Other retirement accounts
$0Corporate trust and agency accounts
$0Other fiduciary accounts
$0Fiduciary accounts held in foreign offices
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