First Union Direct Bank, National Association - Overview
General
FDIC Certificate #: 34483 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Wachovia Bank, National Association (#33869) Federal Reserve ID: 2578240 Date Established: June 02, 1997 WWW:http://www.wachovia.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) FDIC's unique #: 57674 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: June 02, 1997 Last Structure Change Effective Date: December 01, 2004 Last Structure Change Process Date: December 20, 2004 Last Data Update: December 20, 2004 Data Source Date: April 05, 2012
Location
Address: 699 Broad Street, Augusta, GA 30903 County: Richmond Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Atlanta Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Augusta-Aiken, GA-SC (#600) Core Based Statistical Area (CBSA): Augusta-Richmond County, GA-SC (#12260) CBSA Metro Statistical Area: Augusta-Richmond County, GA-SC (#12260)
Financial Summary
Total assets: $6,107.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
0Total employees (full-time equivalent)
$6,511,854Total assets
$4,043,697Cash and due from depository institutions
$0Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$2,156,545Net loans & leases
$0Loan loss allowance
$0Trading account assets
$0Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$311,612All other assets
$6,511,854Total liabilities and capital
$5,163,281Total liabilities
$514Total deposits
$500Interest-bearing deposits
$514Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$34Trading liabilities
$5,000,825Other borrowed funds
$145,418Subordinated debt
$16,490All other liabilities
$1,348,573Total equity capital
$1,348,573Total bank equity capital
$1,348,573Perpetual preferred stock
$0Common stock
$200Surplus
$1,309,679Undivided profits
Memoranda
$38,694Noncurrent loans and leases
$476Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$17Earning assets
$0Long-term assets (5+ years)
$11,891Average Assets, year-to-date
$2,156,545Average Assets, quarterly
$0Volatile liabilities
$5,181,112Insider loans
$6,487,625FHLB advances
$302Loans and leases held for sale
$0Unused loan commitments
$5,000,825Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$476Total unused commitments
$0Restructured Loans and leases
$145,418Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$54,123Total interest income
$43,397Total interest expense
$10,726Net interest income
-$1,003Provision for loan and lease losses
$5,699Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$5,699Additional noninterest income
$855Total noninterest expense
$0Salaries and employee benefits
$11Premises and equipment expense
$844Additional noninterest expense
$16,573Pre-tax net operating income
$0Securities gains (losses)
$6,498Applicable income taxes
$10,075Income before extraordinary items
$0Extraordinary gains - net
$10,075Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$1,003Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
1.65%Yield on earning assets
1.33%Cost of funding earning assets
0.33%Net interest margin
0.17%Noninterest income to earning assets
0.03%Noninterest expense to earning assets
0.19%Net operating income to assets
0.19%Return on assets (ROA)
0.32%Pretax return on assets
0.75%Return on equity (ROE)
0.75%Retained earnings to average equity (YTD only)
-0.03%Net charge-offs to loans
100.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
5,205Assets per employee
0.00%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.00%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
419561.28%Net loans and leases to core deposits
419561.28%Equity capital to assets
20.71%Core capital (leverage) ratio
20.76%Tier 1 risk-based capital ratio
102.91%Total risk-based capital ratio
Memoranda
$114Average assets
$5,181,112Average earning assets
$1,344,770Average equity
$3,274,107Average loans
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