Four Corners Community Bank in Farmington, New Mexico (NM), CO



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Four Corners Community Bank
GeneralFDIC Certificate #: 35441
Status: Active
Federal Reserve ID: 2855866
Date Established: March 01, 2000
WWW: http://www.thebankforme.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: Yes)
OTS Docket #: 52524
FDIC's unique #: 80040
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: March 01, 2000
Last Structure Change Effective Date: August 25, 2007
Last Structure Change Process Date: October 02, 2007
Last Data Update: October 02, 2007
Data Source Date: April 05, 2012
LocationAddress: 500 W. Main Street, Suite 101, Farmington, NM 87401
County: San Juan
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Albuquerque
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Farmington, NM (#22140)
CBSA Metro Statistical Area: Farmington, NM (#22140)
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $214.4 mil
Equity capital: $22.1 mil
Deposits held in domestic offices: $165.7 mil
Return on assets (ROA): 2.01% ($4.3 mil)
Quarterly return on assets: 2.56% ($5.5 mil)
Return on Equity (ROE): 20.76% ($4.6 mil)
Quarterly return on equity: 24.97% ($5.5 mil)
Net income: $4.2 mil
Quarterly Net income: $1.4 mil
Pretax return on assets: 2.01% ($4,308.6 mil)
Quarterly Pretax return on assets: 2.56% ($5,487.5 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)49
Total assets$214,356
Cash and due from depository institutions$23,872
Interest-bearing balances$16,030
Securities$65,684
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$117,428
Loan loss allowance $2,135
Trading account assets$0
Bank premises and fixed assets$4,702
Other real estate owned$1,047
Goodwill and other intangibles$0
All other assets$1,623
Life insurance assets$214,356
Total liabilities and capital$192,231
Total liabilities$165,723
Total deposits$122,116
Interest-bearing deposits$165,723
Deposits held in domestic offices$79
% insured (estimated)25902.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$178
Other borrowed funds $0
Subordinated debt $428
All other liabilities $22,125
Total equity capital$22,125
Total bank equity capital$22,125
Perpetual preferred stock$0
Common stock$3,305
Surplus$6,731
Undivided profits $12,089
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 $1,308
Earning assets $0
Long-term assets (5+ years) $878
Average Assets, year-to-date $199,142
Average Assets, quarterly $71,842
Volatile liabilities $209,862
Insider loans $213,491
FHLB advances $125,925
Loans and leases held for sale $212,141
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $21,626
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,994
Derivatives$427
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,904
Total interest expense $1,547
Net interest income $8,357
Provision for loan and lease losses $1,000
Total noninterest income $760
Fiduciary activities $0
Service charges on deposit accounts $355
Trading account gains & fees $0
Additional noninterest income $405
Total noninterest expense $4,373
Salaries and employee benefits $2,234
Premises and equipment expense $572
Additional noninterest expense $1,567
Pre-tax net operating income $3,744
Securities gains (losses) $482
Applicable income taxes $0
Income before extraordinary items $4,226
Extraordinary gains - net $0
Net income attributable to bank $4,226
Net charge-offs $0
Cash dividends $4,226
Sale, conversion, retirement of capital stock, net $1,098
Net operating income $1,771
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.03%
Cost of funding earning assets 0.79%
Net interest margin 4.25%
Noninterest income to earning assets 0.39%
Noninterest expense to earning assets 2.22%
Net operating income to assets 1.78%
Return on assets (ROA) 2.01%
Pretax return on assets 2.01%
Return on equity (ROE) 20.76%
Retained earnings to average equity (YTD only) 12.06%
Net charge-offs to loans 0.90%
Credit loss provision to net charge-offs 91.07%
Efficiency ratio4.32%
Assets per employee$47,965
Cash dividends to net income (YTD only)4.37%
Condition Ratios (%)
Loss allowance to loans 41.91%
Loss allowance to noncurrent loans 1.79%
Noncurrent assets plus other real estate owned to assets 163.23%
Noncurrent loans to loans 1.10%
Net loans and leases to deposits1.09%
Net loans and leases to core deposits 70.86%
Equity capital to assets 89.85%
Core capital (leverage) ratio 10.32%
Tier 1 risk-based capital ratio 10.19%
Total risk-based capital ratio 17.17%
Memoranda
Average assets$18
Average earning assets$209,862
Average equity $20,355
Average loans $196,748
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1 Colorado Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
417596Cortez Branch343 E. Main St., Cortez, CO 81321November 01, 1984Full Service Brick and Mortar
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4 New Mexico Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
080040Four Corners Community Bank500 W. Main Street, Suite 101, Farmington, NM 87401March 01, 2000Full Service Brick and Mortar
135962820th Street Branch2811 E. 20th Street, Farmington, NM 87402April 02, 2001Full Service Brick and Mortar
2438809East Main Street Branch5900 E. Main Street, Farmington, NM 87402March 01, 2005Full Service Brick and Mortar
3451183Aztec Branch1301 W. Aztec Blvd., Aztec, NM 87410May 08, 2006Full Service Brick and Mortar
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