EverTrust Bank in Everett, Washington (WA)

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EverTrust Bank
GeneralFDIC Certificate #: 27070
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: KeyBank National Association (#17534)
Federal Reserve ID: 453071
Date Established: January 01, 1916
WWW: http://www.etbbankonline.com
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 15 (Interstate: No)
OTS Docket #: 11649
FDIC's unique #: 38675
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
FDIC Insured: Yes
Insured Savings Institution: Yes
State Chartered: Yes
Date of Deposit Insurance: August 28, 1987
Last Structure Change Effective Date: November 12, 2004
Last Structure Change Process Date: December 01, 2004
Last Data Update: December 01, 2004
Data Source Date: April 05, 2012
LocationAddress: 2707 Colby Avenue, Suite 600, Everett, WA 98201
County: Snohomish
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Seattle
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Seattle-Bellevue-Everett, WA (#7600)
Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660)
CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660)
Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
Financial SummaryTotal assets: $760.7 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, 2003)
(Dollar figures in thousands)
Total employees (full-time equivalent)158
Total assets$740,754
Cash and due from depository institutions$13,463
Interest-bearing balances$2,021
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$632,109
Loan loss allowance $8,973
Trading account assets$0
Bank premises and fixed assets$5,800
Other real estate owned$0
Goodwill and other intangibles$446
All other assets$13,427
Life insurance assets$0
Total liabilities and capital$740,754
Total liabilities$667,445
Total deposits$560,001
Interest-bearing deposits$535,020
Deposits held in domestic offices$560,001
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $10,417
Trading liabilities$0
Other borrowed funds $90,144
Subordinated debt $0
All other liabilities $6,883
Total equity capital$73,309
Total bank equity capital$73,309
Perpetual preferred stock$73,309
Common stock$0
Undivided profits $54,907
Noncurrent loans and leases $18,268
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $127,363
Income earned, not collected on loans $0
Earning assets $1,407
Long-term assets (5+ years) $0
Average Assets, year-to-date $3,207
Average Assets, quarterly $709,639
Volatile liabilities $43,902
Insider loans $716,177
FHLB advances $736,209
Loans and leases held for sale $126,982
Unused loan commitments $3,181
Tier 1 (core) risk-based capital $90,144
Tier 2 risk-based capital $2,724
Total risk weighted assets $85
Total unused commitments $127,363
Restructured Loans and leases $0
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Income and Expense (December 31, 2003)
(Dollar figures in thousands)
Total interest income $45,004
Total interest expense $17,558
Net interest income $27,446
Provision for loan and lease losses $425
Total noninterest income $4,859
Fiduciary activities $877
Service charges on deposit accounts $1,092
Trading account gains & fees $0
Additional noninterest income $2,890
Total noninterest expense $18,419
Salaries and employee benefits $10,204
Premises and equipment expense $2,801
Additional noninterest expense $5,414
Pre-tax net operating income $13,461
Securities gains (losses) -$173
Applicable income taxes $4,399
Income before extraordinary items $8,889
Extraordinary gains - net $0
Net income attributable to bank $8,889
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $488
Net operating income $10,792
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Performance and Condition Ratios (December 31, 2003)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.58%
Cost of funding earning assets 2.57%
Net interest margin 4.01%
Noninterest income to earning assets 0.71%
Noninterest expense to earning assets 2.69%
Net operating income to assets 1.26%
Return on assets (ROA) 1.24%
Pretax return on assets 1.86%
Return on equity (ROE) 12.34%
Retained earnings to average equity (YTD only) -2.64%
Net charge-offs to loans 0.08%
Credit loss provision to net charge-offs 87.09%
Efficiency ratio28.45%
Assets per employee$57,016
Cash dividends to net income (YTD only)4.69%
Condition Ratios (%)
Loss allowance to loans 121.41%
Loss allowance to noncurrent loans 1.40%
Noncurrent assets plus other real estate owned to assets 637.74%
Noncurrent loans to loans 0.19%
Net loans and leases to deposits0.22%
Net loans and leases to core deposits 112.88%
Equity capital to assets 135.71%
Core capital (leverage) ratio 9.90%
Tier 1 risk-based capital ratio 9.95%
Total risk-based capital ratio 10.97%
Average assets$12
Average earning assets$716,177
Average equity $72,048
Average loans $683,775
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Total Fiduciary and Related Assets (December 31, 2003)
(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$170,068
Number of Accounts1
Personal trust and agency accounts$168,495
Employee benefit-defined contribution accounts$14,539
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$24,187
Investment management agency accounts$0
Other fiduciary accounts$129,769
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts186
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$1,573
Corporate trust and agency accounts$1,573
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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