First Utah Bank in Salt Lake City, Utah (UT)



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First Utah Bank
GeneralFDIC Certificate #: 22738
Status: Active
Federal Reserve ID: 207872
Bank Holding Company (Regulatory Top Holder): First Utah Bancorporation (RSSDID: 1027992, Location: Salt Lake City, UT)
Date Established: October 19, 1978
WWW: http://www.firstutahbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 8 (Domestic: 8, Interstate: No)
FDIC's unique #: 15875
Numeric code: 13
Regulator: FED
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: October 19, 1978
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
LocationAddress: 3826 South 2300 East, Salt Lake City, UT 84109
County: Salt Lake
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Salt Lake City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $253.4 mil
Equity capital: $19.3 mil
Deposits held in domestic offices: $215.2 mil
Return on assets (ROA): -1.37% (-$3.5 mil)
Quarterly return on assets: -0.17% (-$0.4 mil)
Return on Equity (ROE): -20.03% (-$3.8 mil)
Quarterly return on equity: -2.37% (-$0.5 mil)
Net income: -$3.8 mil
Quarterly Net income: -$0.1 mil
Pretax return on assets: -1.45% (-$3,673.8 mil)
Quarterly Pretax return on assets: -0.25% (-$633.4 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)110
Total assets$253,367
Cash and due from depository institutions$29,062
Interest-bearing balances$23,933
Securities$30,296
Federal funds sold & reverse repurchase agreements$6
Net loans & leases$153,004
Loan loss allowance $6,650
Trading account assets$8,976
Bank premises and fixed assets$11,604
Other real estate owned$10,632
Goodwill and other intangibles$0
All other assets$9,787
Life insurance assets$253,367
Total liabilities and capital$234,051
Total liabilities$215,215
Total deposits$198,250
Interest-bearing deposits$215,215
Deposits held in domestic offices$96
% insured (estimated)18257.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $579
All other liabilities $19,316
Total equity capital$19,316
Total bank equity capital$19,316
Perpetual preferred stock$0
Common stock$40,064
Surplus$5,182
Undivided profits $-25,930
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $7,074
Earning assets $126
Long-term assets (5+ years) $770
Average Assets, year-to-date $216,215
Average Assets, quarterly $40,615
Volatile liabilities $273,332
Insider loans $257,102
FHLB advances $177,001
Loans and leases held for sale $252,050
Unused loan commitments $5,787
Tier 1 (core) risk-based capital $205
Tier 2 risk-based capital $19,153
Total risk weighted assets $4,227
Total unused commitments $1,355
Restructured Loans and leases $26,304
Derivatives$5,276
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,631
Total interest expense $2,752
Net interest income $7,879
Provision for loan and lease losses $1,263
Total noninterest income $1,844
Fiduciary activities $0
Service charges on deposit accounts $675
Trading account gains & fees $89
Additional noninterest income $1,080
Total noninterest expense $13,204
Salaries and employee benefits $6,814
Premises and equipment expense $1,876
Additional noninterest expense $4,514
Pre-tax net operating income -$4,744
Securities gains (losses) $779
Applicable income taxes -$212
Income before extraordinary items -$3,753
Extraordinary gains - net $0
Net income attributable to bank -$3,753
Net charge-offs $0
Cash dividends -$3,753
Sale, conversion, retirement of capital stock, net $2,993
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.62%
Cost of funding earning assets 1.20%
Net interest margin 3.42%
Noninterest income to earning assets 0.80%
Noninterest expense to earning assets 5.74%
Net operating income to assets -1.64%
Return on assets (ROA) -1.37%
Pretax return on assets -1.45%
Return on equity (ROE) -20.03%
Retained earnings to average equity (YTD only) -20.03%
Net charge-offs to loans 1.87%
Credit loss provision to net charge-offs 42.20%
Efficiency ratio-1.16%
Assets per employee$135,802
Cash dividends to net income (YTD only)2.30%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.17%
Noncurrent assets plus other real estate owned to assets 94.01%
Noncurrent loans to loans 6.99%
Net loans and leases to deposits4.43%
Net loans and leases to core deposits 71.09%
Equity capital to assets 77.37%
Core capital (leverage) ratio 7.62%
Tier 1 risk-based capital ratio 7.60%
Total risk-based capital ratio 10.82%
Memoranda
Average assets$12
Average earning assets$273,332
Average equity $18,740
Average loans $230,088
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8 Utah Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
015875First Utah Bank3826 South 2300 East, Salt Lake City, UT 84109October 19, 1978Full Service Brick and Mortar
2255188West Valley City Branch4900 West 3500 South, West Valley City, UT 84120Febuary 01, 1994Full Service Brick and Mortar
3255189Midvale Branch7070 State Street, Midvale, UT 84047March 03, 1995Full Service Brick and Mortar
4255190Centennial Park Branch1991 South 3600 West, Salt Lake City, UT 84104May 20, 1996Full Service Brick and Mortar
5255191Sandy Branch11015 South State Street, Sandy, UT 84070January 16, 1997Full Service Brick and Mortar
6255192City Center Branch115 East 1300 South, Salt Lake City, UT 84115October 24, 1997Full Service Brick and Mortar
7466219International Branch3123 South Redwood Road, West Valley City, UT 84119April 13, 2007Full Service Brick and Mortar
8480609Riverton Office12600 South 4168 West, Riverton, UT 84065March 03, 2008Full Service Brick and Mortar
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