Frontier Bank in Everett, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 30, 2010

  • Frontier Bank in Everett, Washington (WA)
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Frontier Bank - Overview

  • General
  • FDIC Certificate #: 22710
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Union Bank, National Association (#22826)
    Federal Reserve ID: 150071
    Date Established: September 06, 1978
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 52 (Interstate: No)
    OTS Docket #: 9652
    FDIC's unique #: 15852
    Numeric code: 21
    Regulator: FDIC
    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: September 06, 1978
    Last Structure Change Effective Date: April 30, 2010
    Last Structure Change Process Date: May 03, 2010
    Last Data Update: May 03, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 332 Southwest Everett Mall Way, Everett, WA 98204
    County: Snohomish
    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)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $3,250.7 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
  • 697Total employees (full-time equivalent)
  • $3,592,123Total assets
  • $432,893Cash and due from depository institutions
  • $339,144Interest-bearing balances
  • $79,806Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $2,718,154Net loans & leases
  • $151,349Loan loss allowance
  • $0Trading account assets
  • $47,704Bank premises and fixed assets
  • $169,674Other real estate owned
  • $264Goodwill and other intangibles
  • $25,385Life insurance assets
  • $143,628All other assets
  • $3,592,123Total liabilities and capital
  • $3,531,048Total liabilities
  • $3,125,495Total deposits
  • $2,745,217Interest-bearing deposits
  • $3,125,495Deposits held in domestic offices
  • 82.39%% insured (estimated)
  • $10,557Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $376,859Other borrowed funds
  • $0Subordinated debt
  • $18,137All other liabilities
  • $61,075Total equity capital
  • $61,075Total bank equity capital
  • $61,075Perpetual preferred stock
  • $0Common stock
  • $2,782Surplus
  • $97,245Undivided profits
  • Memoranda
  • $-38,952Noncurrent loans and leases
  • $244,785Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $705,206Earning assets
  • $0Long-term assets (5+ years)
  • $9,840Average Assets, year-to-date
  • $3,137,104Average Assets, quarterly
  • $207,624Volatile liabilities
  • $3,917,702Insider loans
  • $3,679,381FHLB advances
  • $907,583Loans and leases held for sale
  • $35,240Unused loan commitments
  • $375,479Tier 1 (core) risk-based capital
  • $3,221Tier 2 risk-based capital
  • $3,221Total risk weighted assets
  • $244,785Total unused commitments
  • $0Restructured Loans and leases
  • $36,748Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $176,913Total interest income
  • $93,231Total interest expense
  • $83,682Net interest income
  • $376,091Provision for loan and lease losses
  • $8,969Total noninterest income
  • $1,964Fiduciary activities
  • $6,154Service charges on deposit accounts
  • $0Trading account gains & fees
  • $851Additional noninterest income
  • $92,322Total noninterest expense
  • $44,164Salaries and employee benefits
  • $11,344Premises and equipment expense
  • $36,814Additional noninterest expense
  • -$375,762Pre-tax net operating income
  • -$102Securities gains (losses)
  • -$90,269Applicable income taxes
  • -$285,595Income before extraordinary items
  • $0Extraordinary gains - net
  • -$285,595Net income attributable to bank
  • $0Net charge-offs
  • -$285,595Cash dividends
  • $337,298Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.90%Yield on earning assets
  • 2.58%Cost of funding earning assets
  • 2.32%Net interest margin
  • 0.25%Noninterest income to earning assets
  • 2.56%Noninterest expense to earning assets
  • -7.29%Net operating income to assets
  • -7.29%Return on assets (ROA)
  • -9.59%Pretax return on assets
  • -128.57%Return on equity (ROE)
  • -128.57%Retained earnings to average equity (YTD only)
  • 9.99%Net charge-offs to loans
  • 111.50%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 99,588Assets per employee
  • 5.15%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.27%Loss allowance to noncurrent loans
  • 21.46%Noncurrent assets plus other real estate owned to assets
  • 24.36%Noncurrent loans to loans
  • 24.58%Net loans and leases to deposits
  • 86.97%Net loans and leases to core deposits
  • 118.44%Equity capital to assets
  • 1.70%Core capital (leverage) ratio
  • 1.65%Tier 1 risk-based capital ratio
  • 2.09%Total risk-based capital ratio
  • Memoranda
  • $3Average assets
  • $3,917,702Average earning assets
  • $222,131Average equity
  • $3,612,656Average loans

Total Fiduciary and Related Assets (December 31, 2009)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $332,270Managed Assets
  • 1Number of Accounts
  • $224,392Personal trust and agency accounts
  • $145,006Employee benefit-defined contribution accounts
  • $327Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $12,152Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $55,236Other fiduciary accounts
  • $11,671Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 511Number of Accounts
  • $0Personal trust and agency accounts
  • $12,152Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $107,878Other retirement accounts
  • $37,429Corporate trust and agency accounts
  • $105Other fiduciary accounts
  • $9,704Fiduciary accounts held in foreign offices

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