Front Range Bank in Lakewood, Colorado (CO)

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Front Range Bank
GeneralFDIC Certificate #: 34401
Status: Active
Federal Reserve ID: 2515320
Bank Holding Company (Regulatory Top Holder): Omega Capital Corp. (RSSDID: 3559198, Location: Lakewood, CO)
Date Established: May 13, 1997
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 17324
FDIC's unique #: 57164
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: May 13, 1997
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: 13013 West Alameda Parkway, Lakewood, CO 80228
County: Jefferson
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
Metropolitan Statistical Area (MSA): Denver, CO (#2080)
Consolidated Metropolitan Statistical Area (CMSA): Denver-Boulder-Greeley, CO (#34)
Combined Statistical Area (CSA): Denver-Aurora-Boulder, CO (#216)
Core Based Statistical Area (CBSA): Denver-Aurora-Broomfield, CO (#19740)
CBSA Metro Statistical Area: Denver-Aurora-Broomfield, CO (#19740)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $151.6 mil
Equity capital: $15.3 mil
Deposits held in domestic offices: $117.2 mil
Return on assets (ROA): -0.31% (-$0.5 mil)
Quarterly return on assets: -0.56% (-$0.9 mil)
Return on Equity (ROE): -3.07% (-$0.5 mil)
Quarterly return on equity: -5.62% (-$0.8 mil)
Net income: -$0.4 mil
Quarterly Net income: -$0.2 mil
Pretax return on assets: -0.31% (-$469.9 mil)
Quarterly Pretax return on assets: -0.56% (-$848.8 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)32
Total assets$151,574
Cash and due from depository institutions$4,565
Interest-bearing balances$4,073
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$83,662
Loan loss allowance $1,028
Trading account assets$0
Bank premises and fixed assets$4,809
Other real estate owned$3,490
Goodwill and other intangibles$484
All other assets$2,648
Life insurance assets$151,574
Total liabilities and capital$136,296
Total liabilities$117,226
Total deposits$86,468
Interest-bearing deposits$117,226
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$18,660
Other borrowed funds $0
Subordinated debt $410
All other liabilities $15,278
Total equity capital$15,278
Total bank equity capital$15,278
Perpetual preferred stock$0
Common stock$563
Undivided profits $46
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $16,949
Income earned, not collected on loans $2,178
Earning assets $0
Long-term assets (5+ years) $453
Average Assets, year-to-date $139,651
Average Assets, quarterly $37,944
Volatile liabilities $141,196
Insider loans $148,740
FHLB advances $88,256
Loans and leases held for sale $144,353
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $14,308
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $18,534
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,471
Total interest expense $1,008
Net interest income $6,463
Provision for loan and lease losses $1,617
Total noninterest income $92
Fiduciary activities $0
Service charges on deposit accounts $181
Trading account gains & fees $0
Additional noninterest income -$89
Total noninterest expense $6,072
Salaries and employee benefits $2,239
Premises and equipment expense $485
Additional noninterest expense $3,348
Pre-tax net operating income -$1,134
Securities gains (losses) $694
Applicable income taxes $0
Income before extraordinary items -$440
Extraordinary gains - net $0
Net income attributable to bank -$440
Net charge-offs $0
Cash dividends -$440
Sale, conversion, retirement of capital stock, net $590
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 assets5.86%
Cost of funding earning assets 0.79%
Net interest margin 5.07%
Noninterest income to earning assets 0.07%
Noninterest expense to earning assets 4.77%
Net operating income to assets -0.80%
Return on assets (ROA) -0.31%
Pretax return on assets -0.31%
Return on equity (ROE) -3.07%
Retained earnings to average equity (YTD only) -3.07%
Net charge-offs to loans 0.86%
Credit loss provision to net charge-offs 274.07%
Efficiency ratio0.82%
Assets per employee$88,116
Cash dividends to net income (YTD only)4.74%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.21%
Noncurrent assets plus other real estate owned to assets 47.20%
Noncurrent loans to loans 3.74%
Net loans and leases to deposits2.57%
Net loans and leases to core deposits 71.37%
Equity capital to assets 72.52%
Core capital (leverage) ratio 10.08%
Tier 1 risk-based capital ratio 9.91%
Total risk-based capital ratio 16.21%
Average assets$17
Average earning assets$141,196
Average equity $14,321
Average loans $127,420
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3 Colorado Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
057164Front Range Bank13013 West Alameda Parkway, Lakewood, CO 80228May 13, 1997Full Service Brick and Mortar
3476613Alton Way Branch7006 South Alton Way, Building B, Centennial, CO 80112August 21, 2007Full Service Brick and Mortar
4479923Englewood Branch3594 South Logan Street, Englewood, CO 80113July 30, 2008Full Service Brick and Mortar
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