Gateway Business Bank in Cerritos, California (CA)



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Gateway Business Bank
GeneralFDIC Certificate #: 34250
Status: Active
Federal Reserve ID: 2550095
Bank Holding Company (Regulatory Top Holder): Gateway Bancorp (RSSDID: 2963190, Location: Santa Ana, CA)
Date Established: March 10, 1997
WWW: http://www.gbbanker.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 57009
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: March 10, 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: 18000 Studebaker Road, Suite 550, Cerritos, CA 90703
County: Los Angeles
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Los Angeles (North)
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
Core Based Statistical Division: Los Angeles-Long Beach-Glendale, CA (#31084)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $201.3 mil
Equity capital: $21.5 mil
Deposits held in domestic offices: $173.3 mil
Return on assets (ROA): -4.03% (-$8.1 mil)
Quarterly return on assets: -3.45% (-$6.9 mil)
Return on Equity (ROE): -30.38% (-$6.7 mil)
Quarterly return on equity: -29.75% (-$6.5 mil)
Net income: -$7.6 mil
Quarterly Net income: -$1.7 mil
Pretax return on assets: -2.36% (-$4,749.9 mil)
Quarterly Pretax return on assets: -3.45% (-$6,943.7 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)352
Total assets$201,266
Cash and due from depository institutions$51,094
Interest-bearing balances$49,218
Securities$78
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$140,967
Loan loss allowance $2,908
Trading account assets$0
Bank premises and fixed assets$847
Other real estate owned$2,831
Goodwill and other intangibles$758
All other assets$4,691
Life insurance assets$201,266
Total liabilities and capital$179,724
Total liabilities$173,339
Total deposits$150,596
Interest-bearing deposits$173,339
Deposits held in domestic offices$87
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12
Other borrowed funds $0
Subordinated debt $6,373
All other liabilities $21,542
Total equity capital$21,542
Total bank equity capital$21,542
Perpetual preferred stock$0
Common stock$19,046
Surplus$0
Undivided profits $2,496
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $73,267
Income earned, not collected on loans $7,353
Earning assets $2,792
Long-term assets (5+ years) $371
Average Assets, year-to-date $190,263
Average Assets, quarterly $75,952
Volatile liabilities $189,329
Insider loans $192,920
FHLB advances $99,148
Loans and leases held for sale $180,568
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $21,466
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $5,151
Derivatives$0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,714
Total interest expense $1,636
Net interest income $5,078
Provision for loan and lease losses -$819
Total noninterest income $28,756
Fiduciary activities $0
Service charges on deposit accounts $90
Trading account gains & fees $0
Additional noninterest income $28,666
Total noninterest expense $39,117
Salaries and employee benefits $22,941
Premises and equipment expense $3,098
Additional noninterest expense $13,078
Pre-tax net operating income -$4,464
Securities gains (losses) $0
Applicable income taxes $3,164
Income before extraordinary items -$7,628
Extraordinary gains - net $0
Net income attributable to bank -$7,628
Net charge-offs $0
Cash dividends -$7,628
Sale, conversion, retirement of capital stock, net $6
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 assets3.81%
Cost of funding earning assets 0.93%
Net interest margin 2.88%
Noninterest income to earning assets 16.31%
Noninterest expense to earning assets 22.18%
Net operating income to assets -4.03%
Return on assets (ROA) -4.03%
Pretax return on assets -2.36%
Return on equity (ROE) -30.38%
Retained earnings to average equity (YTD only) -30.38%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs -13650.00%
Efficiency ratio-880.50%
Assets per employee$114,060
Cash dividends to net income (YTD only)0.57%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.02%
Noncurrent assets plus other real estate owned to assets 39.55%
Noncurrent loans to loans 5.06%
Net loans and leases to deposits5.11%
Net loans and leases to core deposits 81.32%
Equity capital to assets 82.83%
Core capital (leverage) ratio 10.70%
Tier 1 risk-based capital ratio 11.89%
Total risk-based capital ratio 21.65%
Memoranda
Average assets$23
Average earning assets$189,329
Average equity $25,106
Average loans $176,353
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3 California Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
057009Gateway Business Bank18000 Studebaker Road, Suite 550, Cerritos, CA 90703March 10, 1997Full Service Brick and Mortar
1366260Lakewood Branch4146 Woodruff Avenue, Lakewood, CA 90713October 21, 2002Full Service Brick and Mortar
2419155Laguna Hills Branch23601 Moulton Parkway, Suite E, Laguna Hills, CA 92653September 13, 2002Full Service Brick and Mortar
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