FDIC Certificate #: 58521 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:Verus Bank of Commerce (#58025) Federal Reserve ID: 3485224 Date Established: May 04, 2007 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 455260 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: May 04, 2007 Last Structure Change Effective Date: Febuary 12, 2011 Last Structure Change Process Date: Febuary 16, 2011 Last Data Update: Febuary 16, 2011 Data Source Date: April 05, 2012
Location
Address: 1432 E. Mulberry Street, Fort Collins, CO 80524 County: Larimer Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Denver Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Fort Collins-Loveland, CO (#2670) Core Based Statistical Area (CBSA): Fort Collins-Loveland, CO (#22660) CBSA Metro Statistical Area: Fort Collins-Loveland, CO (#22660)
Financial Summary
Total assets: $97.2 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
8Total employees (full-time equivalent)
$97,181Total assets
$8,312Cash and due from depository institutions
$7,695Interest-bearing balances
$0Securities
$1Federal funds sold & reverse repurchase agreements
$85,402Net loans & leases
$1,444Loan loss allowance
$0Trading account assets
$213Bank premises and fixed assets
$796Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,457All other assets
$97,181Total liabilities and capital
$88,388Total liabilities
$85,412Total deposits
$81,316Interest-bearing deposits
$85,412Deposits held in domestic offices
91.40%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$2,500Other borrowed funds
$0Subordinated debt
$476All other liabilities
$8,793Total equity capital
$8,793Total bank equity capital
$8,793Perpetual preferred stock
$0Common stock
$4,000Surplus
$4,000Undivided profits
Memoranda
$793Noncurrent loans and leases
$7,663Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,083Earning assets
$0Long-term assets (5+ years)
$438Average Assets, year-to-date
$93,098Average Assets, quarterly
$16,701Volatile liabilities
$94,327Insider loans
$97,616FHLB advances
$4,833Loans and leases held for sale
$2,418Unused loan commitments
$2,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,663Total unused commitments
$0Restructured Loans and leases
$1,024Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$5,354Total interest income
$1,758Total interest expense
$3,596Net interest income
$699Provision for loan and lease losses
$98Total noninterest income
$0Fiduciary activities
$25Service charges on deposit accounts
$0Trading account gains & fees
$73Additional noninterest income
$1,629Total noninterest expense
$645Salaries and employee benefits
$139Premises and equipment expense
$845Additional noninterest expense
$1,366Pre-tax net operating income
$0Securities gains (losses)
$508Applicable income taxes
$858Income before extraordinary items
$0Extraordinary gains - net
$858Net income attributable to bank
$0Net charge-offs
$858Cash dividends
$722Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.91%Yield on earning assets
1.94%Cost of funding earning assets
3.97%Net interest margin
0.11%Noninterest income to earning assets
1.80%Noninterest expense to earning assets
0.91%Net operating income to assets
0.91%Return on assets (ROA)
1.45%Pretax return on assets
10.33%Return on equity (ROE)
10.33%Retained earnings to average equity (YTD only)
0.87%Net charge-offs to loans
96.81%Credit loss provision to net charge-offs
2.86%Efficiency ratio
44,099Assets per employee
12.15%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.66%Loss allowance to noncurrent loans
69.32%Noncurrent assets plus other real estate owned to assets
2.96%Noncurrent loans to loans
2.40%Net loans and leases to deposits
99.99%Net loans and leases to core deposits
105.99%Equity capital to assets
9.05%Core capital (leverage) ratio
8.87%Tier 1 risk-based capital ratio
10.79%Total risk-based capital ratio
Memoranda
$12Average assets
$94,327Average earning assets
$8,309Average equity
$90,540Average loans
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