Heritage Bank in Saint George, Utah (UT)



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Heritage Bank
GeneralFDIC Certificate #: 28665
Status: Active
Federal Reserve ID: 130671
Date Established: January 01, 1917
WWW: http://www.heritagebank-stgeorge.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 1 (Domestic: 1, Interstate: No)
OTS Docket #: 2078
FDIC's unique #: 41499
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
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: Yes
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: October 25, 1963
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 95 E Tabernacle St Ste 201, Saint George, UT 84770
County: Washington
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
Core Based Statistical Area (CBSA): St. George, UT (#41100)
CBSA Metro Statistical Area: St. George, UT (#41100)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $80.3 mil
Equity capital: $12.8 mil
Deposits held in domestic offices: $40.5 mil
Return on assets (ROA): 1.31% ($1.0 mil)
Quarterly return on assets: 0.81% ($0.6 mil)
Return on Equity (ROE): 10.42% ($1.4 mil)
Quarterly return on equity: 5.16% ($0.7 mil)
Net income: $1.2 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.31% ($1,051.9 mil)
Quarterly Pretax return on assets: 0.81% ($650.4 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)7
Total assets$80,294
Cash and due from depository institutions$1,948
Interest-bearing balances$653
Securities$50,767
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$2,465
Loan loss allowance $300
Trading account assets$0
Bank premises and fixed assets$6
Other real estate owned$0
Goodwill and other intangibles$74
All other assets$25,034
Life insurance assets$80,294
Total liabilities and capital$67,515
Total liabilities$40,490
Total deposits$40,219
Interest-bearing deposits$40,490
Deposits held in domestic offices$40
% insured (estimated)11129.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$14,831
Other borrowed funds $0
Subordinated debt $1,065
All other liabilities $12,779
Total equity capital$12,779
Total bank equity capital$12,779
Perpetual preferred stock$0
Common stock$400
Surplus$9,050
Undivided profits $3,329
Memoranda
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 $96
Earning assets $0
Long-term assets (5+ years) $146
Average Assets, year-to-date $53,885
Average Assets, quarterly $0
Volatile liabilities $91,021
Insider loans $81,715
FHLB advances $16,495
Loans and leases held for sale $79,056
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $11,541
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $16
Derivatives$109
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,999
Total interest expense $775
Net interest income $1,224
Provision for loan and lease losses $181
Total noninterest income $802
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $802
Total noninterest expense $1,603
Salaries and employee benefits $860
Premises and equipment expense $130
Additional noninterest expense $613
Pre-tax net operating income $242
Securities gains (losses) $947
Applicable income taxes $0
Income before extraordinary items $1,189
Extraordinary gains - net $0
Net income attributable to bank $1,189
Net charge-offs $0
Cash dividends $1,189
Sale, conversion, retirement of capital stock, net -$22
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 assets3.06%
Cost of funding earning assets 1.19%
Net interest margin 1.87%
Noninterest income to earning assets 1.23%
Noninterest expense to earning assets 2.45%
Net operating income to assets 0.27%
Return on assets (ROA) 1.31%
Pretax return on assets 1.31%
Return on equity (ROE) 10.42%
Retained earnings to average equity (YTD only) 10.42%
Net charge-offs to loans -0.72%
Credit loss provision to net charge-offs -822.73%
Efficiency ratio0.00%
Assets per employee$79,121
Cash dividends to net income (YTD only)11.47%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 10.85%
Noncurrent assets plus other real estate owned to assets 312.50%
Noncurrent loans to loans 0.12%
Net loans and leases to deposits3.47%
Net loans and leases to core deposits 6.09%
Equity capital to assets 8.54%
Core capital (leverage) ratio 15.92%
Tier 1 risk-based capital ratio 14.60%
Total risk-based capital ratio 69.97%
Memoranda
Average assets$71
Average earning assets$91,021
Average equity $11,415
Average loans $65,382
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1 Utah Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
041499Heritage Bank95 E Tabernacle St Ste 201, Saint George, UT 84770January 01, 1917Full Service Brick and Mortar
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