First Choice Bank in Cerritos, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches


First Choice Bank - Overview

  • General
  • FDIC Certificate #: 57966
    Status: Active
    Federal Reserve ID: 3374878
    Date Established: August 18, 2005
    WWW: http://www.firstchoicebankca.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 432680
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: August 18, 2005
    Last Structure Change Effective Date: December 28, 2009
    Last Structure Change Process Date: December 28, 2009
    Last Data Update: December 28, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 17414 Carmenita Road, Cerritos, CA 90703
    County: Los Angeles
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Los Angeles (North)
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
    Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
    Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
    Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
    CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
    Core Based Statistical Division: Los Angeles-Long Beach-Glendale, CA (#31084)
  • Financial Summary
  • Total assets: $247.7 mil
    Equity capital: $24.9 mil
    Deposits held in domestic offices: $212.4 mil
    Return on assets (ROA): 0.61% ($1.5 mil)
    Quarterly return on assets: 0.83% ($2.1 mil)
    Return on Equity (ROE): 6.19% ($1.5 mil)
    Quarterly return on equity: 8.04% ($2.0 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.23% ($3,046.6 mil)
    Quarterly Pretax return on assets: 1.46% ($3,616.2 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, 2011)

  • Dollar figures in thousands
  • 29Total employees (full-time equivalent)
  • $247,687Total assets
  • $22,513Cash and due from depository institutions
  • $21,183Interest-bearing balances
  • $96,034Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $125,754Net loans & leases
  • $2,355Loan loss allowance
  • $0Trading account assets
  • $408Bank premises and fixed assets
  • $0Other real estate owned
  • $62Goodwill and other intangibles
  • $247,687Life insurance assets
  • $2,916All other assets
  • $222,818Total liabilities and capital
  • $212,368Total liabilities
  • $197,033Total deposits
  • $212,368Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,000Trading liabilities
  • $0Other borrowed funds
  • $2,450Subordinated debt
  • $24,869All other liabilities
  • $24,869Total equity capital
  • $24,869Total bank equity capital
  • $5,117Perpetual preferred stock
  • $20,030Common stock
  • $631Surplus
  • $-909Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,634Income earned, not collected on loans
  • $0Earning assets
  • $860Long-term assets (5+ years)
  • $242,971Average Assets, year-to-date
  • $74,518Average Assets, quarterly
  • $217,680Volatile liabilities
  • $240,055Insider loans
  • $143,125FHLB advances
  • $234,637Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $24,234Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $8,049Restructured Loans and leases
  • $3,900Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,200Total interest income
  • $2,459Total interest expense
  • $6,741Net interest income
  • $893Provision for loan and lease losses
  • $786Total noninterest income
  • $0Fiduciary activities
  • $68Service charges on deposit accounts
  • $0Trading account gains & fees
  • $718Additional noninterest income
  • $4,165Total noninterest expense
  • $2,186Salaries and employee benefits
  • $710Premises and equipment expense
  • $1,269Additional noninterest expense
  • $2,469Pre-tax net operating income
  • $200Securities gains (losses)
  • $1,352Applicable income taxes
  • $1,317Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,317Net income attributable to bank
  • $0Net charge-offs
  • $1,317Cash dividends
  • $431Sale, conversion, retirement of capital stock, net
  • $103Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.32%Yield on earning assets
  • 1.16%Cost of funding earning assets
  • 3.17%Net interest margin
  • 0.37%Noninterest income to earning assets
  • 1.96%Noninterest expense to earning assets
  • 0.55%Net operating income to assets
  • 0.61%Return on assets (ROA)
  • 1.23%Pretax return on assets
  • 6.19%Return on equity (ROE)
  • 5.70%Retained earnings to average equity (YTD only)
  • 0.40%Net charge-offs to loans
  • 207.19%Credit loss provision to net charge-offs
  • 7.80%Efficiency ratio
  • 55,334Assets per employee
  • 8.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 7.82%Loss allowance to loans
  • 1.84%Loss allowance to noncurrent loans
  • 144.12%Noncurrent assets plus other real estate owned to assets
  • 0.66%Noncurrent loans to loans
  • 1.28%Net loans and leases to deposits
  • 59.22%Net loans and leases to core deposits
  • 68.85%Equity capital to assets
  • 10.04%Core capital (leverage) ratio
  • 10.33%Tier 1 risk-based capital ratio
  • 16.93%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $217,680Average earning assets
  • $21,281Average equity
  • $212,757Average loans

List of branches

  • 2 California Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0432680First Choice Bank17414 Carmenita Road, Cerritos, CA 90703August 18, 2005Full Service Brick and Mortar
    1493016Alhambra Branch407 West Valley Blvd., Suite 1, Alhambra, CA 91801March 05, 2009Full Service Brick and Mortar

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