GE Capital Retail Bank in Draper, Utah (UT)

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GE Capital Retail Bank
GeneralFDIC Certificate #: 27314
Status: Active
Federal Reserve ID: 1216022
Date Established: August 01, 1988
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 2 (Domestic: 1, Foreign: 1, Interstate: No)
OTS Docket #: 15044
FDIC's unique #: 39510
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Credit Card Institutions: Yes
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Credit-Card Specialization
Date of Deposit Insurance: August 01, 1988
Last Structure Change Effective Date: October 01, 2011
Last Structure Change Process Date: October 04, 2011
Last Data Update: October 04, 2011
Data Source Date: April 05, 2012
LocationAddress: 170 West Election Road, Suite 125, Draper, UT 84020
County: Salt Lake
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Salt Lake City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
History of ChangesCorrections
Name Change
Financial SummaryTotal assets: $25,101.0 mil
Equity capital: $4,414.8 mil
Deposits held in domestic offices: $17,899.9 mil
Return on assets (ROA): 5.39% ($1,352.9 mil)
Quarterly return on assets: 4.29% ($1,076.8 mil)
Return on Equity (ROE): 27.99% ($1,235.8 mil)
Quarterly return on equity: 24.19% ($1,068.0 mil)
Net income: $1,219.8 mil
Quarterly Net income: $258.6 mil
Pretax return on assets: 8.29% ($2,080,871.0 mil)
Quarterly Pretax return on assets: 6.79% ($1,704,356.3 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)3,416
Total assets$25,100,977
Cash and due from depository institutions$855,958
Interest-bearing balances$663,555
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$22,425,282
Loan loss allowance $978,111
Trading account assets$0
Bank premises and fixed assets$17,628
Other real estate owned$-2,888
Goodwill and other intangibles$464,230
All other assets$843,070
Life insurance assets$25,100,977
Total liabilities and capital$20,686,164
Total liabilities$17,899,941
Total deposits$17,543,761
Interest-bearing deposits$17,899,941
Deposits held in domestic offices$99
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$241,980
Other borrowed funds $0
Subordinated debt $2,544,243
All other liabilities $4,414,813
Total equity capital$4,414,813
Total bank equity capital$4,414,813
Perpetual preferred stock$0
Common stock$1,000
Undivided profits $634,528
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 $437,979
Earning assets $0
Long-term assets (5+ years) $116,230
Average Assets, year-to-date $23,586,534
Average Assets, quarterly $0
Volatile liabilities $22,635,797
Insider loans $24,096,516
FHLB advances $29,792,378
Loans and leases held for sale $24,637,787
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $3,951,623
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $245,416,795
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,977,392
Total interest expense $402,711
Net interest income $3,574,681
Provision for loan and lease losses $1,003,170
Total noninterest income $888,445
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $888,445
Total noninterest expense $1,693,059
Salaries and employee benefits $220,489
Premises and equipment expense $54,554
Additional noninterest expense $1,418,016
Pre-tax net operating income $1,766,897
Securities gains (losses) $0
Applicable income taxes $655,947
Income before extraordinary items $1,110,950
Extraordinary gains - net $108,846
Net income attributable to bank $1,219,796
Net charge-offs $0
Cash dividends $1,219,796
Sale, conversion, retirement of capital stock, net $960,747
Net operating income $2,575,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets19.08%
Cost of funding earning assets 1.93%
Net interest margin 17.15%
Noninterest income to earning assets 4.26%
Noninterest expense to earning assets 8.12%
Net operating income to assets 4.91%
Return on assets (ROA) 5.39%
Pretax return on assets 8.29%
Return on equity (ROE) 27.99%
Retained earnings to average equity (YTD only) -31.09%
Net charge-offs to loans 4.50%
Credit loss provision to net charge-offs 104.42%
Efficiency ratio2.88%
Assets per employee$36,631
Cash dividends to net income (YTD only)7.35%
Condition Ratios (%)
Loss allowance to loans 211.10%
Loss allowance to noncurrent loans 4.18%
Noncurrent assets plus other real estate owned to assets 223.32%
Noncurrent loans to loans 1.73%
Net loans and leases to deposits1.87%
Net loans and leases to core deposits 125.28%
Equity capital to assets 6296.04%
Core capital (leverage) ratio 17.59%
Tier 1 risk-based capital ratio 16.04%
Total risk-based capital ratio 13.26%
Average assets$15
Average earning assets$22,635,797
Average equity $4,358,710
Average loans $20,845,933
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1 Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1261716Melbourne Branch (Foreign)258 Queensbury Street Carlton, Victoria, 3053, Melbourne, 0December 01, 1997Full Service Brick and Mortar
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1 Utah Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
039510Ge Capital Retail Bank170 West Election Road, Suite 125, Draper, UT 84020August 01, 1988Full Service Brick and Mortar
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