Horizon Bank in Bellingham, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 08, 2010

  • Horizon Bank in Bellingham, Washington (WA)
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Horizon Bank - Overview

  • General
  • FDIC Certificate #: 22977
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Washington Federal (#28088)
    Federal Reserve ID: 508878
    Date Established: November 09, 1979
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 19 (Interstate: No)
    OTS Docket #: 15908
    FDIC's unique #: 16078
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: November 09, 1979
    Last Structure Change Effective Date: January 08, 2010
    Last Structure Change Process Date: January 12, 2010
    Last Data Update: January 12, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 1500 Cornwall Avenue, Bellingham, WA 98225
    County: Whatcom
    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): Bellingham, WA (#860)
    Core Based Statistical Area (CBSA): Bellingham, WA (#13380)
    CBSA Metro Statistical Area: Bellingham, WA (#13380)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $1,189.0 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, 2009)

  • Dollar figures in thousands
  • 223Total employees (full-time equivalent)
  • $1,188,956Total assets
  • $83,069Cash and due from depository institutions
  • $68,200Interest-bearing balances
  • $60,813Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $894,701Net loans & leases
  • $44,374Loan loss allowance
  • $0Trading account assets
  • $24,696Bank premises and fixed assets
  • $31,911Other real estate owned
  • $144Goodwill and other intangibles
  • $20,789Life insurance assets
  • $93,622All other assets
  • $1,188,956Total liabilities and capital
  • $1,177,033Total liabilities
  • $1,049,063Total deposits
  • $1,022,888Interest-bearing deposits
  • $1,049,063Deposits held in domestic offices
  • 93.73%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $124,032Other borrowed funds
  • $0Subordinated debt
  • $3,938All other liabilities
  • $11,923Total equity capital
  • $11,923Total bank equity capital
  • $11,838Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $50,413Undivided profits
  • Memoranda
  • $-38,576Noncurrent loans and leases
  • $114,131Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $85Income earned, not collected on loans
  • $113,937Earning assets
  • $0Long-term assets (5+ years)
  • $4,250Average Assets, year-to-date
  • $1,023,714Average Assets, quarterly
  • $148,969Volatile liabilities
  • $1,357,808Insider loans
  • $1,244,471FHLB advances
  • $403,611Loans and leases held for sale
  • $3,197Unused loan commitments
  • $123,500Tier 1 (core) risk-based capital
  • $1,546Tier 2 risk-based capital
  • $1,904Total risk weighted assets
  • $114,131Total unused commitments
  • $25,430Restructured Loans and leases
  • $10,165Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $57,365Total interest income
  • $34,665Total interest expense
  • $22,700Net interest income
  • $116,521Provision for loan and lease losses
  • -$869Total noninterest income
  • $0Fiduciary activities
  • $1,914Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$2,783Additional noninterest income
  • $39,476Total noninterest expense
  • $13,946Salaries and employee benefits
  • $3,974Premises and equipment expense
  • $21,556Additional noninterest expense
  • -$134,166Pre-tax net operating income
  • -$238Securities gains (losses)
  • -$28,325Applicable income taxes
  • -$106,079Income before extraordinary items
  • $0Extraordinary gains - net
  • -$106,143Net income attributable to bank
  • $64Net charge-offs
  • -$106,079Cash dividends
  • $97,456Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.74%Yield on earning assets
  • 2.86%Cost of funding earning assets
  • 1.88%Net interest margin
  • -0.07%Noninterest income to earning assets
  • 3.26%Noninterest expense to earning assets
  • -7.80%Net operating income to assets
  • -7.82%Return on assets (ROA)
  • -9.90%Pretax return on assets
  • -188.98%Return on equity (ROE)
  • -188.98%Retained earnings to average equity (YTD only)
  • 9.05%Net charge-offs to loans
  • 119.56%Credit loss provision to net charge-offs
  • -0.18%Efficiency ratio
  • 180,825Assets per employee
  • 5.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.73%Loss allowance to noncurrent loans
  • 38.95%Noncurrent assets plus other real estate owned to assets
  • 12.27%Noncurrent loans to loans
  • 12.13%Net loans and leases to deposits
  • 85.29%Net loans and leases to core deposits
  • 117.57%Equity capital to assets
  • 1.00%Core capital (leverage) ratio
  • 0.80%Tier 1 risk-based capital ratio
  • 0.99%Total risk-based capital ratio
  • Memoranda
  • $2Average assets
  • $1,357,808Average earning assets
  • $56,167Average equity
  • $1,210,058Average loans

Total Fiduciary and Related Assets (December 31, 2009)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $8,875Managed Assets
  • 1Number of Accounts
  • $8,875Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $8,867Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $8Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 2Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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