Innovative Bank in Oakland, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 16, 2010

  • Innovative Bank in Oakland, California (CA)
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Innovative Bank - Overview

  • General
  • FDIC Certificate #: 23876
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: BBCN Bank (#26610)
    Federal Reserve ID: 104663
    Date Established: July 01, 1982
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 16675
    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: July 01, 1982
    Last Structure Change Effective Date: April 16, 2010
    Last Structure Change Process Date: April 19, 2010
    Last Data Update: April 19, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 360 Fourteenth Street, Oakland, CA 94612
    County: Alameda
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: San Francisco
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Oakland, CA (#5775)
    Consolidated Metropolitan Statistical Area (CMSA): San Francisco-Oakland-San Jose, CA (#84)
    Combined Statistical Area (CSA): San Jose-San Francisco-Oakland, CA (#488)
    Core Based Statistical Area (CBSA): San Francisco-Oakland-Fremont, CA (#41860)
    CBSA Metro Statistical Area: San Francisco-Oakland-Fremont, CA (#41860)
    Core Based Statistical Division: Oakland-Fremont-Hayward, CA (#36084)
  • History of Changes
  • Absorption - Assisted
  • Financial Summary
  • Total assets: $266.8 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, 2009)

  • Dollar figures in thousands
  • 78Total employees (full-time equivalent)
  • $268,891Total assets
  • $48,475Cash and due from depository institutions
  • $44,040Interest-bearing balances
  • $16,605Securities
  • $4,000Federal funds sold & reverse repurchase agreements
  • $178,343Net loans & leases
  • $7,833Loan loss allowance
  • $0Trading account assets
  • $881Bank premises and fixed assets
  • $0Other real estate owned
  • $5,278Goodwill and other intangibles
  • $0Life insurance assets
  • $15,309All other assets
  • $268,891Total liabilities and capital
  • $252,126Total liabilities
  • $225,241Total deposits
  • $205,641Interest-bearing deposits
  • $225,241Deposits held in domestic offices
  • 88.69%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $25,000Other borrowed funds
  • $0Subordinated debt
  • $1,885All other liabilities
  • $16,765Total equity capital
  • $16,765Total bank equity capital
  • $16,765Perpetual preferred stock
  • $0Common stock
  • $31,976Surplus
  • $0Undivided profits
  • Memoranda
  • $-15,211Noncurrent loans and leases
  • $5,098Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $27,462Earning assets
  • $8,718Long-term assets (5+ years)
  • $750Average Assets, year-to-date
  • $242,988Average Assets, quarterly
  • $11,080Volatile liabilities
  • $273,436Insider loans
  • $260,733FHLB advances
  • $114,621Loans and leases held for sale
  • $3,589Unused loan commitments
  • $25,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $5,098Total unused commitments
  • $0Restructured Loans and leases
  • $2,434Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $12,051Total interest income
  • $7,197Total interest expense
  • $4,854Net interest income
  • $17,082Provision for loan and lease losses
  • $5,588Total noninterest income
  • $0Fiduciary activities
  • $415Service charges on deposit accounts
  • $0Trading account gains & fees
  • $5,173Additional noninterest income
  • $14,183Total noninterest expense
  • $5,714Salaries and employee benefits
  • $1,638Premises and equipment expense
  • $6,831Additional noninterest expense
  • -$20,823Pre-tax net operating income
  • $0Securities gains (losses)
  • -$6,339Applicable income taxes
  • -$14,484Income before extraordinary items
  • $0Extraordinary gains - net
  • -$14,484Net income attributable to bank
  • $0Net charge-offs
  • -$14,484Cash dividends
  • $19,009Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.86%Yield on earning assets
  • 2.90%Cost of funding earning assets
  • 1.96%Net interest margin
  • 2.25%Noninterest income to earning assets
  • 5.72%Noninterest expense to earning assets
  • -5.30%Net operating income to assets
  • -5.30%Return on assets (ROA)
  • -7.62%Pretax return on assets
  • -56.75%Return on equity (ROE)
  • -56.75%Retained earnings to average equity (YTD only)
  • 9.13%Net charge-offs to loans
  • 89.86%Credit loss provision to net charge-offs
  • -0.20%Efficiency ratio
  • 113,225Assets per employee
  • 3.45%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.21%Loss allowance to noncurrent loans
  • 28.52%Noncurrent assets plus other real estate owned to assets
  • 10.21%Noncurrent loans to loans
  • 14.75%Net loans and leases to deposits
  • 79.18%Net loans and leases to core deposits
  • 161.22%Equity capital to assets
  • 6.23%Core capital (leverage) ratio
  • 4.34%Tier 1 risk-based capital ratio
  • 5.87%Total risk-based capital ratio
  • Memoranda
  • $7Average assets
  • $273,436Average earning assets
  • $25,520Average equity
  • $248,154Average loans

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