FirstBank of Vail in Vail, Colorado (CO)



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FirstBank of Vail
GeneralFDIC Certificate #: 19768
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: FirstBank (#18714)
Federal Reserve ID: 122658
Date Established: November 30, 1967
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Interstate: No)
OTS Docket #: 11044
FDIC's unique #: 13562
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: November 30, 1967
Last Structure Change Effective Date: October 16, 2010
Last Structure Change Process Date: October 25, 2010
Last Data Update: October 25, 2010
Data Source Date: April 05, 2012
LocationAddress: 17 Vail Road, Vail, CO 81657
County: Eagle
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: $309.9 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)43
Total assets$314,062
Cash and due from depository institutions$6,191
Interest-bearing balances$54
Securities$53,766
Federal funds sold & reverse repurchase agreements$2,017
Net loans & leases$236,597
Loan loss allowance $4,681
Trading account assets$0
Bank premises and fixed assets$5,770
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$9,721
Life insurance assets$0
Total liabilities and capital$314,062
Total liabilities$287,401
Total deposits$285,694
Interest-bearing deposits$231,660
Deposits held in domestic offices$285,694
% insured (estimated)80.14%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $1,707
Total equity capital$26,661
Total bank equity capital$26,661
Perpetual preferred stock$26,661
Common stock$0
Surplus$8,050
Undivided profits $8,000
Memoranda
Noncurrent loans and leases $10,611
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $50,134
Income earned, not collected on loans $0
Earning assets $5,786
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,172
Average Assets, quarterly $292,434
Volatile liabilities $104,136
Insider loans $336,317
FHLB advances $324,529
Loans and leases held for sale $21,925
Unused loan commitments $285
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $50,134
Restructured Loans and leases $0
Derivatives$2,516
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $18,377
Total interest expense $2,523
Net interest income $15,854
Provision for loan and lease losses $2,506
Total noninterest income $2,460
Fiduciary activities $0
Service charges on deposit accounts $1,201
Trading account gains & fees $0
Additional noninterest income $1,259
Total noninterest expense $8,227
Salaries and employee benefits $3,547
Premises and equipment expense $921
Additional noninterest expense $3,759
Pre-tax net operating income $7,581
Securities gains (losses) $767
Applicable income taxes $2,807
Income before extraordinary items $5,541
Extraordinary gains - net $0
Net income attributable to bank $5,541
Net charge-offs $0
Cash dividends $5,541
Sale, conversion, retirement of capital stock, net $1,443
Net operating income $2,950
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.77%
Cost of funding earning assets 0.79%
Net interest margin 4.98%
Noninterest income to earning assets 0.77%
Noninterest expense to earning assets 2.58%
Net operating income to assets 1.50%
Return on assets (ROA) 1.65%
Pretax return on assets 2.48%
Return on equity (ROE) 21.68%
Retained earnings to average equity (YTD only) 10.14%
Net charge-offs to loans 0.58%
Credit loss provision to net charge-offs 173.67%
Efficiency ratio6.99%
Assets per employee$44,922
Cash dividends to net income (YTD only)7.30%
Condition Ratios (%)
Loss allowance to loans 53.24%
Loss allowance to noncurrent loans 1.94%
Noncurrent assets plus other real estate owned to assets 80.90%
Noncurrent loans to loans 1.84%
Net loans and leases to deposits2.40%
Net loans and leases to core deposits 82.81%
Equity capital to assets 89.70%
Core capital (leverage) ratio 8.49%
Tier 1 risk-based capital ratio 8.48%
Total risk-based capital ratio 13.34%
Memoranda
Average assets$15
Average earning assets$336,317
Average equity $25,553
Average loans $318,467
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