Fortune Bank in Seattle, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Fortune Bank - Overview

  • General
  • FDIC Certificate #: 58437
    Status: Active
    Federal Reserve ID: 3537963
    Date Established: December 11, 2006
    WWW: http://www.fortunebankwa.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 451732
    Numeric code: 21
    Regulator: FDIC
    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: December 11, 2006
    Last Structure Change Effective Date: March 26, 2010
    Last Structure Change Process Date: April 01, 2010
    Last Data Update: April 01, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 1201 Third Avenue, Suite 700, Seattle, WA 98101
    County: King
    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: $142.6 mil
    Equity capital: $16.0 mil
    Deposits held in domestic offices: $125.9 mil
    Return on assets (ROA): 0.28% ($0.4 mil)
    Quarterly return on assets: -0.44% (-$0.6 mil)
    Return on Equity (ROE): 2.63% ($0.4 mil)
    Quarterly return on equity: -4.14% (-$0.7 mil)
    Net income: $0.4 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: 0.28% ($399.2 mil)
    Quarterly Pretax return on assets: -0.44% (-$627.3 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
  • 29Total employees (full-time equivalent)
  • $142,559Total assets
  • $25,917Cash and due from depository institutions
  • $22,655Interest-bearing balances
  • $9,521Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $103,241Net loans & leases
  • $1,863Loan loss allowance
  • $0Trading account assets
  • $121Bank premises and fixed assets
  • $1,930Other real estate owned
  • $622Goodwill and other intangibles
  • $142,559Life insurance assets
  • $1,207All other assets
  • $126,583Total liabilities and capital
  • $125,891Total liabilities
  • $95,613Total deposits
  • $125,891Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $692Subordinated debt
  • $15,976All other liabilities
  • $15,976Total equity capital
  • $15,976Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $25,999Surplus
  • $-10,023Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,739Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,260Income earned, not collected on loans
  • $0Earning assets
  • $430Long-term assets (5+ years)
  • $135,417Average Assets, year-to-date
  • $10,576Average Assets, quarterly
  • $143,551Volatile liabilities
  • $147,911Insider loans
  • $108,435FHLB advances
  • $150,166Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $15,966Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $30,780Restructured Loans and leases
  • $1,433Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,337Total interest income
  • $1,070Total interest expense
  • $5,267Net interest income
  • $840Provision for loan and lease losses
  • $1,978Total noninterest income
  • $0Fiduciary activities
  • $213Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,765Additional noninterest income
  • $6,004Total noninterest expense
  • $3,105Salaries and employee benefits
  • $483Premises and equipment expense
  • $2,416Additional noninterest expense
  • $401Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $401Income before extraordinary items
  • $0Extraordinary gains - net
  • $401Net income attributable to bank
  • $0Net charge-offs
  • $401Cash dividends
  • $1,702Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.61%Yield on earning assets
  • 0.78%Cost of funding earning assets
  • 3.83%Net interest margin
  • 1.44%Noninterest income to earning assets
  • 4.37%Noninterest expense to earning assets
  • 0.28%Net operating income to assets
  • 0.28%Return on assets (ROA)
  • 0.28%Pretax return on assets
  • 2.63%Return on equity (ROE)
  • 2.63%Retained earnings to average equity (YTD only)
  • 1.60%Net charge-offs to loans
  • 49.35%Credit loss provision to net charge-offs
  • 0.73%Efficiency ratio
  • 82,871Assets per employee
  • 4.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.77%Loss allowance to noncurrent loans
  • 82.43%Noncurrent assets plus other real estate owned to assets
  • 2.94%Noncurrent loans to loans
  • 2.15%Net loans and leases to deposits
  • 82.01%Net loans and leases to core deposits
  • 101.95%Equity capital to assets
  • 11.21%Core capital (leverage) ratio
  • 10.63%Tier 1 risk-based capital ratio
  • 14.72%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $143,551Average earning assets
  • $15,239Average equity
  • $137,511Average loans

List of branches

  • 1 Washington Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0451732Fortune Bank1201 Third Avenue, Suite 700, Seattle, WA 98101December 11, 2006Full Service Brick and Mortar

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