First Bank in Ketchikan, Alaska (AK)
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| First Bank | |
|---|---|
| General | FDIC Certificate #: 14885 Status: Active Federal Reserve ID: 451068 Bank Holding Company (Regulatory Top Holder): First Bancorp, Inc. (RSSDID: 1416701, Location: Ketchikan, AK) Date Established: September 15, 1924 WWW: http://www.firstbankak.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 9 (Domestic: 9, Interstate: No) OTS Docket #: 8885 FDIC's unique #: 9320 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: November 23, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 331 Dock Street, Ketchikan, AK 99901 County: Ketchikan Gateway 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: Western Core Based Statistical Area (CBSA): Ketchikan, AK (#28540) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $441.5 mil Equity capital: $45.3 mil Deposits held in domestic offices: $387.1 mil Return on assets (ROA): 0.94% ($4.1 mil) Quarterly return on assets: 0.94% ($4.1 mil) Return on Equity (ROE): 9.76% ($4.4 mil) Quarterly return on equity: 9.57% ($4.3 mil) Net income: $4.3 mil Quarterly Net income: $1.1 mil Pretax return on assets: 0.94% ($4,149.7 mil) Quarterly Pretax return on assets: 0.94% ($4,149.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 139 |
| Total assets | $441,456 |
| Cash and due from depository institutions | $10,148 |
| Interest-bearing balances | $2,729 |
| Securities | $189,958 |
| Federal funds sold & reverse repurchase agreements | $1 |
| Net loans & leases | $210,621 |
| Loan loss allowance | $3,630 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,140 |
| Other real estate owned | $962 |
| Goodwill and other intangibles | $2,667 |
| All other assets | $8,959 |
| Life insurance assets | $441,456 |
| Total liabilities and capital | $396,185 |
| Total liabilities | $387,119 |
| Total deposits | $288,569 |
| Interest-bearing deposits | $387,119 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $8,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,066 |
| All other liabilities | $45,271 |
| Total equity capital | $45,271 |
| Total bank equity capital | $45,271 |
| Perpetual preferred stock | $0 |
| Common stock | $1,015 |
| Surplus | $11,040 |
| Undivided profits | $33,216 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $5,905 |
| Income earned, not collected on loans | $1,495 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,751 |
| Average Assets, year-to-date | $403,309 |
| Average Assets, quarterly | $104,646 |
| Volatile liabilities | $452,699 |
| Insider loans | $457,465 |
| FHLB advances | $263,102 |
| Loans and leases held for sale | $460,605 |
| Unused loan commitments | $2,305 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $40,730 |
| Total risk weighted assets | $2,305 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $29,867 |
| Derivatives | $9,314 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $18,533 |
| Total interest expense | $3,024 |
| Net interest income | $15,509 |
| Provision for loan and lease losses | $250 |
| Total noninterest income | $4,849 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $380 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $4,469 |
| Total noninterest expense | $16,626 |
| Salaries and employee benefits | $9,975 |
| Premises and equipment expense | $3,159 |
| Additional noninterest expense | $3,492 |
| Pre-tax net operating income | $3,482 |
| Securities gains (losses) | $783 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $4,265 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $4,265 |
| Net charge-offs | $0 |
| Cash dividends | $4,265 |
| Sale, conversion, retirement of capital stock, net | $138 |
| Net operating income | $2,271 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.49% |
| Cost of funding earning assets | 0.73% |
| Net interest margin | 3.76% |
| Noninterest income to earning assets | 1.17% |
| Noninterest expense to earning assets | 4.03% |
| Net operating income to assets | 0.77% |
| Return on assets (ROA) | 0.94% |
| Pretax return on assets | 0.94% |
| Return on equity (ROE) | 9.76% |
| Retained earnings to average equity (YTD only) | 4.56% |
| Net charge-offs to loans | 0.06% |
| Credit loss provision to net charge-offs | 181.16% |
| Efficiency ratio | 27.04% |
| Assets per employee | $81,668 |
| Cash dividends to net income (YTD only) | 3.18% |
| Condition Ratios (%) | |
| Loss allowance to loans | 53.25% |
| Loss allowance to noncurrent loans | 1.69% |
| Noncurrent assets plus other real estate owned to assets | 242.81% |
| Noncurrent loans to loans | 0.56% |
| Net loans and leases to deposits | 0.70% |
| Net loans and leases to core deposits | 54.41% |
| Equity capital to assets | 60.31% |
| Core capital (leverage) ratio | 10.25% |
| Tier 1 risk-based capital ratio | 8.84% |
| Total risk-based capital ratio | 15.48% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $452,699 |
| Average equity | $43,691 |
| Average loans | $412,733 |
| 9 Alaska Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 9320 | First Bank | 331 Dock Street, Ketchikan, AK 99901 | September 15, 1924 | Full Service Brick and Mortar |  |
| 1 | 232375 | Totem Branch | 2530 Tongass Avenue, Ketchikan, AK 99901 | August 05, 1963 | Full Service Brick and Mortar |  |
| 2 | 232376 | Prince Of Wales Branch | 3rd And Main Streets, Craig, AK 99921 | May 07, 1974 | Full Service Brick and Mortar | |
| 3 | 232377 | Petersburg Branch | 103 Nordic Drive, Petersburg, AK 99833 | July 02, 1974 | Full Service Brick and Mortar | |
| 5 | 232379 | Sitka Branch | 203 Lake Street, Sitka, AK 99835 | March 01, 1979 | Full Service Brick and Mortar | |
| 7 | 232381 | Wrangell Branch | 224 Bruger Street, Wrangell, AK 99929 | October 09, 1989 | Full Service Brick and Mortar | |
| 8 | 232382 | Juneau Branch | One Sealaska Plaza, Juneau, AK 99802 | June 04, 1990 | Full Service Brick and Mortar | |
| 9 | 232383 | Mendenhall Branch | 3075 Vintage Boulevard, Juneau, AK 99801 | March 01, 1992 | Full Service Brick and Mortar | |
| 11 | 431718 | First Bank Financial Center | 2030 Sealevel Drive, Ketchikan, AK 99901 | August 30, 2004 | Full Service Brick and Mortar | |
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