Independence Bank in Newport Beach, California (CA)



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Independence Bank routing number info

Table of contents:
Independence Bank
GeneralFDIC Certificate #: 57688
Status: Active
Federal Reserve ID: 3295320
Date Established: September 22, 2004
WWW: http://www.independence-bank.net
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 3, Interstate: No)
FDIC's unique #: 419876
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: September 22, 2004
Last Structure Change Effective Date: November 06, 2009
Last Structure Change Process Date: November 06, 2009
Last Data Update: November 06, 2009
Data Source Date: April 05, 2012
LocationAddress: 4525 Macarthur Boulevard, Newport Beach, CA 92660
County: Orange
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Orange
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Orange County, CA (#5945)
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: Santa Ana-Anaheim-Irvine, CA (#42044)
History of ChangesChange in Location
Financial SummaryTotal assets: $294.2 mil
Equity capital: $37.2 mil
Deposits held in domestic offices: $208.7 mil
Return on assets (ROA): 0.47% ($1.4 mil)
Quarterly return on assets: -0.18% (-$0.5 mil)
Return on Equity (ROE): 4.03% ($1.5 mil)
Quarterly return on equity: -1.46% (-$0.5 mil)
Net income: $1.5 mil
Quarterly Net income: -$0.1 mil
Pretax return on assets: 0.36% ($1,059.2 mil)
Quarterly Pretax return on assets: -1.87% (-$5,501.9 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)58
Total assets$294,220
Cash and due from depository institutions$2,738
Interest-bearing balances$844
Securities$54,166
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$218,281
Loan loss allowance $4,698
Trading account assets$0
Bank premises and fixed assets$1,755
Other real estate owned$2,917
Goodwill and other intangibles$0
All other assets$14,363
Life insurance assets$294,220
Total liabilities and capital$256,998
Total liabilities$208,729
Total deposits$196,414
Interest-bearing deposits$208,729
Deposits held in domestic offices$88
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$47,200
Other borrowed funds $0
Subordinated debt $1,069
All other liabilities $37,222
Total equity capital$37,222
Total bank equity capital$37,222
Perpetual preferred stock$0
Common stock$37,949
Surplus$494
Undivided profits $-1,221
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 $4,785
Earning assets $0
Long-term assets (5+ years) $1,093
Average Assets, year-to-date $273,291
Average Assets, quarterly $230,950
Volatile liabilities $309,566
Insider loans $297,527
FHLB advances $243,170
Loans and leases held for sale $293,278
Unused loan commitments $4,828
Tier 1 (core) risk-based capital $4,828
Tier 2 risk-based capital $36,917
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,662
Derivatives$0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $16,428
Total interest expense $3,582
Net interest income $12,846
Provision for loan and lease losses $400
Total noninterest income -$1,367
Fiduciary activities $0
Service charges on deposit accounts $122
Trading account gains & fees $0
Additional noninterest income -$1,489
Total noninterest expense $10,136
Salaries and employee benefits $5,597
Premises and equipment expense $927
Additional noninterest expense $3,612
Pre-tax net operating income $943
Securities gains (losses) $186
Applicable income taxes -$324
Income before extraordinary items $1,453
Extraordinary gains - net $0
Net income attributable to bank $1,453
Net charge-offs $0
Cash dividends $1,453
Sale, conversion, retirement of capital stock, net $1,440
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 assets5.68%
Cost of funding earning assets 1.24%
Net interest margin 4.44%
Noninterest income to earning assets -0.47%
Noninterest expense to earning assets 3.50%
Net operating income to assets 0.41%
Return on assets (ROA) 0.47%
Pretax return on assets 0.36%
Return on equity (ROE) 4.03%
Retained earnings to average equity (YTD only) 4.03%
Net charge-offs to loans 0.60%
Credit loss provision to net charge-offs 27.78%
Efficiency ratio0.93%
Assets per employee$88,300
Cash dividends to net income (YTD only)5.07%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.11%
Noncurrent assets plus other real estate owned to assets 98.18%
Noncurrent loans to loans 2.62%
Net loans and leases to deposits2.15%
Net loans and leases to core deposits 104.58%
Equity capital to assets 115.16%
Core capital (leverage) ratio 12.65%
Tier 1 risk-based capital ratio 12.59%
Total risk-based capital ratio 15.18%
Memoranda
Average assets$16
Average earning assets$309,566
Average equity $36,071
Average loans $289,333
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4 California Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0419876Independence Bank4525 Macarthur Boulevard, Newport Beach, CA 92660September 22, 2004Full Service Brick and Mortar
2458028Fountain Valley Branch18101 Magnolia Street, Fountain Valley, CA 92708January 17, 2007Full Service Brick and Mortar
3518477San Juan Capistrano Branch32291 Camino Capistrano, San Juan Capistrano, CA 92675April 04, 2011Full Service Brick and Mortar
4530038Tustin Branch17782 East 17th Street, Suite 101, Tustin, CA 92780November 22, 2011Full Service Brick and Mortar
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