First Mountain Bank in Leadville, Colorado (CO)



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Table of contents:
First Mountain Bank
GeneralFDIC Certificate #: 23216
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The First National Bank of Hugo (#3029)
Federal Reserve ID: 295356
Date Established: October 06, 1980
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 1 (Interstate: No)
OTS Docket #: 14508
FDIC's unique #: 16269
Numeric code: 13
Regulator: FED
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: October 06, 1980
Last Structure Change Effective Date: December 15, 2008
Last Structure Change Process Date: January 07, 2009
Last Data Update: January 07, 2009
Data Source Date: April 05, 2012
LocationAddress: 409 Harrison Avenue, Leadville, CO 80461
County: Lake
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Edwards, CO (#20780)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $27.1 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, 2007)
(Dollar figures in thousands)
Total employees (full-time equivalent)8
Total assets$23,042
Cash and due from depository institutions$6,526
Interest-bearing balances$5,881
Securities$0
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$15,500
Loan loss allowance $258
Trading account assets$0
Bank premises and fixed assets$362
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$654
Life insurance assets$0
Total liabilities and capital$23,043
Total liabilities$21,362
Total deposits$17,359
Interest-bearing deposits$13,384
Deposits held in domestic offices$17,359
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $145
Trading liabilities$0
Other borrowed funds $3,787
Subordinated debt $0
All other liabilities $71
Total equity capital$1,681
Total bank equity capital$1,681
Perpetual preferred stock$1,681
Common stock$0
Surplus$220
Undivided profits $440
Memoranda
Noncurrent loans and leases $1,021
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $848
Income earned, not collected on loans $0
Earning assets $4
Long-term assets (5+ years) $0
Average Assets, year-to-date $80
Average Assets, quarterly $21,381
Volatile liabilities $9,555
Insider loans $22,903
FHLB advances $23,015
Loans and leases held for sale $3,976
Unused loan commitments $0
Tier 1 (core) risk-based capital $3,787
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $848
Restructured Loans and leases $0
Derivatives$165
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Income and Expense (December 31, 2007)
(Dollar figures in thousands)
Total interest income $1,627
Total interest expense $481
Net interest income $1,146
Provision for loan and lease losses -$22
Total noninterest income $249
Fiduciary activities $0
Service charges on deposit accounts $207
Trading account gains & fees $0
Additional noninterest income $42
Total noninterest expense $1,028
Salaries and employee benefits $774
Premises and equipment expense $52
Additional noninterest expense $202
Pre-tax net operating income $389
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $389
Extraordinary gains - net $0
Net income attributable to bank $389
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net -$29
Net operating income $313
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Performance and Condition Ratios (December 31, 2007)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.66%
Cost of funding earning assets 2.26%
Net interest margin 5.40%
Noninterest income to earning assets 1.17%
Noninterest expense to earning assets 4.84%
Net operating income to assets 1.70%
Return on assets (ROA) 1.70%
Pretax return on assets 1.70%
Return on equity (ROE) 23.64%
Retained earnings to average equity (YTD only) 4.62%
Net charge-offs to loans -0.20%
Credit loss provision to net charge-offs 75.86%
Efficiency ratio0.00%
Assets per employee$73,692
Cash dividends to net income (YTD only)2.88%
Condition Ratios (%)
Loss allowance to loans 80.46%
Loss allowance to noncurrent loans 1.64%
Noncurrent assets plus other real estate owned to assets 6450.00%
Noncurrent loans to loans 0.02%
Net loans and leases to deposits0.03%
Net loans and leases to core deposits 89.29%
Equity capital to assets 97.33%
Core capital (leverage) ratio 7.30%
Tier 1 risk-based capital ratio 7.16%
Total risk-based capital ratio 12.86%
Memoranda
Average assets$14
Average earning assets$22,903
Average equity $1,646
Average loans $21,241
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