First Heritage Bank in Snohomish, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 27, 2011

  • First Heritage Bank in Snohomish, Washington (WA)
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First Heritage Bank - Overview

  • General
  • FDIC Certificate #: 23626
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Columbia State Bank (#33826)
    Federal Reserve ID: 20370
    Date Established: January 08, 1982
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 11449
    FDIC's unique #: 16540
    Numeric code: 21
    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: January 08, 1982
    Last Structure Change Effective Date: May 27, 2011
    Last Structure Change Process Date: May 31, 2011
    Last Data Update: May 31, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 167 Lincoln Avenue, Snohomish, WA 98290
    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 Summary
  • Total assets: $173.5 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, 2010)

  • Dollar figures in thousands
  • 59Total employees (full-time equivalent)
  • $179,423Total assets
  • $16,155Cash and due from depository institutions
  • $8,640Interest-bearing balances
  • $12,065Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $127,113Net loans & leases
  • $3,924Loan loss allowance
  • $0Trading account assets
  • $6,156Bank premises and fixed assets
  • $13,749Other real estate owned
  • $0Goodwill and other intangibles
  • $1,208Life insurance assets
  • $4,185All other assets
  • $179,423Total liabilities and capital
  • $175,146Total liabilities
  • $168,660Total deposits
  • $152,096Interest-bearing deposits
  • $168,660Deposits held in domestic offices
  • 97.53%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $5,061Other borrowed funds
  • $0Subordinated debt
  • $1,425All other liabilities
  • $4,277Total equity capital
  • $4,277Total bank equity capital
  • $4,277Perpetual preferred stock
  • $2,696Common stock
  • $3,885Surplus
  • $15,931Undivided profits
  • Memoranda
  • $-18,235Noncurrent loans and leases
  • $1,174Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $17,890Earning assets
  • $167Long-term assets (5+ years)
  • $591Average Assets, year-to-date
  • $147,818Average Assets, quarterly
  • $12,646Volatile liabilities
  • $204,292Insider loans
  • $188,160FHLB advances
  • $20,369Loans and leases held for sale
  • $2,010Unused loan commitments
  • $5,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $232Total risk weighted assets
  • $1,174Total unused commitments
  • $9,470Restructured Loans and leases
  • $1,679Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $8,450Total interest income
  • $2,838Total interest expense
  • $5,612Net interest income
  • $7,066Provision for loan and lease losses
  • $1,892Total noninterest income
  • $0Fiduciary activities
  • $666Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,226Additional noninterest income
  • $9,923Total noninterest expense
  • $4,016Salaries and employee benefits
  • $1,329Premises and equipment expense
  • $4,578Additional noninterest expense
  • -$9,485Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,835Applicable income taxes
  • -$11,320Income before extraordinary items
  • $0Extraordinary gains - net
  • -$11,320Net income attributable to bank
  • $0Net charge-offs
  • -$11,320Cash dividends
  • $7,535Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.03%Yield on earning assets
  • 1.69%Cost of funding earning assets
  • 3.34%Net interest margin
  • 1.13%Noninterest income to earning assets
  • 5.91%Noninterest expense to earning assets
  • -5.54%Net operating income to assets
  • -5.54%Return on assets (ROA)
  • -4.64%Pretax return on assets
  • -103.48%Return on equity (ROE)
  • -103.48%Retained earnings to average equity (YTD only)
  • 5.08%Net charge-offs to loans
  • 93.78%Credit loss provision to net charge-offs
  • -0.32%Efficiency ratio
  • 132,236Assets per employee
  • 3.04%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.99%Loss allowance to noncurrent loans
  • 21.93%Noncurrent assets plus other real estate owned to assets
  • 17.63%Noncurrent loans to loans
  • 13.65%Net loans and leases to deposits
  • 75.37%Net loans and leases to core deposits
  • 85.72%Equity capital to assets
  • 2.38%Core capital (leverage) ratio
  • 2.22%Tier 1 risk-based capital ratio
  • 3.18%Total risk-based capital ratio
  • Memoranda
  • $4Average assets
  • $204,292Average earning assets
  • $10,939Average equity
  • $167,877Average loans

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