FDIC Certificate #: 34405 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Venture Bank (#22868) Federal Reserve ID: 2581932 Date Established: June 11, 1997 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 2 (Interstate: No) FDIC's unique #: 57168 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: June 11, 1997 Last Structure Change Effective Date: October 01, 2002 Last Structure Change Process Date: January 31, 2003 Last Data Update: January 31, 2003 Data Source Date: April 05, 2012
Location
Address: 7022 Pioneer Way, Gig Harbor, WA 98335 County: Pierce 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): Tacoma, WA (#8200) 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: Tacoma, WA (#45104)
Financial Summary
Total assets: $74.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
29Total employees (full-time equivalent)
$85,890Total assets
$9,287Cash and due from depository institutions
$6,840Interest-bearing balances
$2,999Securities
$6,000Federal funds sold & reverse repurchase agreements
$65,331Net loans & leases
$2,992Loan loss allowance
$0Trading account assets
$1,307Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$966All other assets
$85,890Total liabilities and capital
$81,326Total liabilities
$81,041Total deposits
$69,228Interest-bearing deposits
$81,041Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$285All other liabilities
$4,564Total equity capital
$4,564Total bank equity capital
$4,564Perpetual preferred stock
$0Common stock
$644Surplus
$6,399Undivided profits
Memoranda
$-2,479Noncurrent loans and leases
$12,637Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,555Earning assets
$0Long-term assets (5+ years)
$424Average Assets, year-to-date
$81,170Average Assets, quarterly
$2,988Volatile liabilities
$84,563Insider loans
$87,599FHLB advances
$13,227Loans and leases held for sale
$1,730Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$12,637Total unused commitments
$0Restructured Loans and leases
$870Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$6,745Total interest income
$3,099Total interest expense
$3,646Net interest income
$2,852Provision for loan and lease losses
$357Total noninterest income
$0Fiduciary activities
$232Service charges on deposit accounts
$0Trading account gains & fees
$125Additional noninterest income
$3,366Total noninterest expense
$1,319Salaries and employee benefits
$415Premises and equipment expense
$1,632Additional noninterest expense
-$2,215Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$2,215Income before extraordinary items
$0Extraordinary gains - net
-$2,215Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$610Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.42%Yield on earning assets
3.87%Cost of funding earning assets
4.55%Net interest margin
0.45%Noninterest income to earning assets
4.20%Noninterest expense to earning assets
-2.62%Net operating income to assets
-2.62%Return on assets (ROA)
-2.62%Pretax return on assets
-40.72%Return on equity (ROE)
-40.72%Retained earnings to average equity (YTD only)
0.92%Net charge-offs to loans
467.54%Credit loss provision to net charge-offs
1.04%Efficiency ratio
84,087Assets per employee
2.96%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.38%Loss allowance to noncurrent loans
117.10%Noncurrent assets plus other real estate owned to assets
2.97%Noncurrent loans to loans
3.74%Net loans and leases to deposits
80.61%Net loans and leases to core deposits
96.34%Equity capital to assets
5.31%Core capital (leverage) ratio
5.18%Tier 1 risk-based capital ratio
6.76%Total risk-based capital ratio
Memoranda
$8Average assets
$84,563Average earning assets
$5,440Average equity
$80,072Average loans
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