Grand Valley Bank in Heber City, Utah (UT), CO
| Grand Valley Bank | |
|---|---|
| General | FDIC Certificate #: 24922 Status: Active Federal Reserve ID: 178851 Bank Holding Company (Regulatory Top Holder): Porter Mountain Iii, Lllp (RSSDID: 3695528, Location: Grand Junction, CO) Date Established: December 13, 1983 WWW: http://www.grandvalleybank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 7 (Domestic: 7, Interstate: Yes) FDIC's unique #: 17276 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: Other Specialized Lending < 1 Billion Date of Deposit Insurance: December 13, 1983 Last Structure Change Effective Date: December 31, 2008 Last Structure Change Process Date: January 13, 2009 Last Data Update: January 13, 2009 Data Source Date: April 05, 2012 |
| Location | Address: 2 South Main Street, Heber City, UT 84032 County: Wasatch Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: Dallas FDIC Field Office: Salt Lake City Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482) Core Based Statistical Area (CBSA): Heber, UT (#25720) CBSA Micro Statistical Area: Yes |
| History of Changes | Name Change Change in Primary Regulatory Agency |
| Financial Summary | Total assets: $264.2 mil Equity capital: $26.5 mil Deposits held in domestic offices: $230.2 mil Return on assets (ROA): 0.57% ($1.5 mil) Quarterly return on assets: 0.60% ($1.6 mil) Return on Equity (ROE): 5.68% ($1.5 mil) Quarterly return on equity: 5.96% ($1.6 mil) Net income: $1.5 mil Quarterly Net income: $0.4 mil Pretax return on assets: 0.61% ($1,611.7 mil) Quarterly Pretax return on assets: 0.67% ($1,770.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 76 |
| Total assets | $264,221 |
| Cash and due from depository institutions | $4,465 |
| Interest-bearing balances | $535 |
| Securities | $161,130 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $86,871 |
| Loan loss allowance | $2,454 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,741 |
| Other real estate owned | $3,969 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,045 |
| Life insurance assets | $264,221 |
| Total liabilities and capital | $237,681 |
| Total liabilities | $230,154 |
| Total deposits | $175,596 |
| Interest-bearing deposits | $230,154 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 551.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $5,434 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,542 |
| All other liabilities | $26,540 |
| Total equity capital | $26,540 |
| Total bank equity capital | $26,540 |
| Perpetual preferred stock | $0 |
| Common stock | $1,701 |
| Surplus | $3,562 |
| Undivided profits | $21,277 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $1,236 |
| Income earned, not collected on loans | $5,773 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,548 |
| Average Assets, year-to-date | $248,536 |
| Average Assets, quarterly | $99,775 |
| Volatile liabilities | $259,575 |
| Insider loans | $261,910 |
| FHLB advances | $115,510 |
| Loans and leases held for sale | $259,767 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $24,705 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $15,607 |
| Derivatives | $1,115 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $10,595 |
| Total interest expense | $1,335 |
| Net interest income | $9,260 |
| Provision for loan and lease losses | $1,150 |
| Total noninterest income | $1,159 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $444 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $715 |
| Total noninterest expense | $7,783 |
| Salaries and employee benefits | $4,664 |
| Premises and equipment expense | $820 |
| Additional noninterest expense | $2,299 |
| Pre-tax net operating income | $1,486 |
| Securities gains (losses) | $87 |
| Applicable income taxes | $105 |
| Income before extraordinary items | $1,468 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,468 |
| Net charge-offs | $0 |
| Cash dividends | $1,468 |
| Sale, conversion, retirement of capital stock, net | $1,314 |
| Net operating income | $227 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.36% |
| Cost of funding earning assets | 0.55% |
| Net interest margin | 3.81% |
| Noninterest income to earning assets | 0.48% |
| Noninterest expense to earning assets | 3.20% |
| Net operating income to assets | 0.53% |
| Return on assets (ROA) | 0.57% |
| Pretax return on assets | 0.61% |
| Return on equity (ROE) | 5.68% |
| Retained earnings to average equity (YTD only) | 4.80% |
| Net charge-offs to loans | 1.38% |
| Credit loss provision to net charge-offs | 87.52% |
| Efficiency ratio | 2.01% |
| Assets per employee | $74,700 |
| Cash dividends to net income (YTD only) | 3.48% |
| Condition Ratios (%) | |
| Loss allowance to loans | 15.46% |
| Loss allowance to noncurrent loans | 2.75% |
| Noncurrent assets plus other real estate owned to assets | 42.51% |
| Noncurrent loans to loans | 3.69% |
| Net loans and leases to deposits | 6.46% |
| Net loans and leases to core deposits | 37.74% |
| Equity capital to assets | 38.36% |
| Core capital (leverage) ratio | 10.04% |
| Tier 1 risk-based capital ratio | 9.51% |
| Total risk-based capital ratio | 21.39% |
| Memoranda | |
| Average assets | $23 |
| Average earning assets | $259,575 |
| Average equity | $25,842 |
| Average loans | $242,889 |
| 4 Colorado Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 1 | 257736 | Fruita Branch | 452 South Maple, Fruita, CO 81521 | August 28, 1995 | Full Service Brick and Mortar |  |
| 2 | 257737 | Plateau Valley Banking Center Branch | 109 Main Street, Collbran, CO 81624 | August 19, 1996 | Full Service Brick and Mortar | |
| 3 | 429663 | 25 Road Branch | 570 25 Road, Grand Junction, CO 81505 | June 30, 2004 | Full Service Brick and Mortar | |
| 7 | 475992 | 925 N. 7th Street Branch | 925 North 7th Street, Grand Junction, CO 81501 | December 28, 2007 | Full Service Brick and Mortar | |
| 3 Utah Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 17276 | Grand Valley Bank | 2 South Main Street, Heber City, UT 84032 | December 13, 1983 | Full Service Brick and Mortar |  |
| 5 | 452519 | Vernal Branch | 121 West Main, Vernal, UT 84078 | September 14, 2005 | Full Service Brick and Mortar | |
| 6 | 468292 | Dba Heber Valley Bank | 380 East Main, Midway, UT 84049 | September 07, 2007 | Full Service Brick and Mortar | |
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