Legacy Bank in Scottsdale, Arizona (AZ)



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Legacy Bank
GeneralFDIC Certificate #: 57820
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: Enterprise Bank & Trust (#27237)
Federal Reserve ID: 3303476
Date Established: January 03, 2005
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 426590
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: January 03, 2005
Last Structure Change Effective Date: January 07, 2011
Last Structure Change Process Date: January 10, 2011
Last Data Update: January 10, 2011
Data Source Date: April 05, 2012
LocationAddress: 15100 North 78th Way, Scottsdale, AZ 85260
County: Maricopa
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: Chicago
FDIC Field Office: Phoenix
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Phoenix-Mesa, AZ (#6200)
Core Based Statistical Area (CBSA): Phoenix-Mesa-Glendale, AZ (#38060)
CBSA Metro Statistical Area: Phoenix-Mesa-Glendale, AZ (#38060)
Financial SummaryTotal assets: $136.4 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)
Total employees (full-time equivalent)17
Total assets$136,446
Cash and due from depository institutions$5,530
Interest-bearing balances$5,065
Securities$9,579
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$95,087
Loan loss allowance $2,649
Trading account assets$0
Bank premises and fixed assets$1,883
Other real estate owned$19,865
Goodwill and other intangibles$0
All other assets$4,502
Life insurance assets$0
Total liabilities and capital$136,446
Total liabilities$134,307
Total deposits$119,685
Interest-bearing deposits$99,718
Deposits held in domestic offices$119,685
% insured (estimated)90.28%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $14,500
Subordinated debt $0
All other liabilities $122
Total equity capital$2,139
Total bank equity capital$2,139
Perpetual preferred stock$2,139
Common stock$0
Surplus$15
Undivided profits $21,385
Memoranda
Noncurrent loans and leases $-19,261
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $8,240
Income earned, not collected on loans $0
Earning assets $3,388
Long-term assets (5+ years) $0
Average Assets, year-to-date $366
Average Assets, quarterly $109,731
Volatile liabilities $2,245
Insider loans $161,683
FHLB advances $143,543
Loans and leases held for sale $86,779
Unused loan commitments $28
Tier 1 (core) risk-based capital $14,500
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $8,240
Restructured Loans and leases $0
Derivatives$1,368
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Income and Expense (December 31, 2010)
(Dollar figures in thousands)
Total interest income $6,258
Total interest expense $1,632
Net interest income $4,626
Provision for loan and lease losses $1,000
Total noninterest income -$2,625
Fiduciary activities $251
Service charges on deposit accounts $64
Trading account gains & fees $0
Additional noninterest income -$2,940
Total noninterest expense $5,616
Salaries and employee benefits $2,239
Premises and equipment expense $974
Additional noninterest expense $2,403
Pre-tax net operating income -$4,615
Securities gains (losses) $0
Applicable income taxes $88
Income before extraordinary items -$4,703
Extraordinary gains - net $0
Net income attributable to bank -$4,703
Net charge-offs $0
Cash dividends -$4,703
Sale, conversion, retirement of capital stock, net $4,369
Net operating income $0
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Performance and Condition Ratios (December 31, 2010)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.50%
Cost of funding earning assets 1.17%
Net interest margin 3.33%
Noninterest income to earning assets -1.89%
Noninterest expense to earning assets 4.04%
Net operating income to assets -2.91%
Return on assets (ROA) -2.91%
Pretax return on assets -2.85%
Return on equity (ROE) -99.06%
Retained earnings to average equity (YTD only) -99.06%
Net charge-offs to loans 3.70%
Credit loss provision to net charge-offs 22.89%
Efficiency ratio-0.83%
Assets per employee$280,660
Cash dividends to net income (YTD only)8.03%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.71%
Noncurrent assets plus other real estate owned to assets 78.19%
Noncurrent loans to loans 17.04%
Net loans and leases to deposits3.47%
Net loans and leases to core deposits 79.45%
Equity capital to assets 216.57%
Core capital (leverage) ratio 1.57%
Tier 1 risk-based capital ratio 1.36%
Total risk-based capital ratio 1.80%
Memoranda
Average assets$3
Average earning assets$161,683
Average equity $4,747
Average loans $139,047
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Total Fiduciary and Related Assets (December 31, 2010)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$55,612
Number of Accounts1
Personal trust and agency accounts$55,612
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$55,612
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts9
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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