Magic Valley Bank in Twin Falls, Idaho (ID)



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Magic Valley Bank
GeneralFDIC Certificate #: 34555
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Panhandle State Bank (#23415)
Federal Reserve ID: 2607467
Date Established: August 29, 1997
WWW: http://www.magicvalleybank.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 59062
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: August 29, 1997
Last Structure Change Effective Date: November 03, 2004
Last Structure Change Process Date: December 01, 2004
Last Data Update: December 01, 2004
Data Source Date: April 05, 2012
LocationAddress: 113 Main Avenue West, Twin Falls, ID 83301
County: Twin Falls
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Salt Lake City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Twin Falls, ID (#46300)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $80.0 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, 2003)
(Dollar figures in thousands)
Total employees (full-time equivalent)35
Total assets$78,523
Cash and due from depository institutions$7,707
Interest-bearing balances$694
Securities$7,313
Federal funds sold & reverse repurchase agreements$3,000
Net loans & leases$57,204
Loan loss allowance $814
Trading account assets$0
Bank premises and fixed assets$1,415
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$1,884
Life insurance assets$0
Total liabilities and capital$78,523
Total liabilities$71,688
Total deposits$68,028
Interest-bearing deposits$48,096
Deposits held in domestic offices$68,028
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $1,801
Trading liabilities$0
Other borrowed funds $1,600
Subordinated debt $0
All other liabilities $259
Total equity capital$6,835
Total bank equity capital$6,835
Perpetual preferred stock$6,835
Common stock$0
Surplus$2,616
Undivided profits $2,842
Memoranda
Noncurrent loans and leases $1,377
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $13,788
Income earned, not collected on loans $0
Earning assets $1
Long-term assets (5+ years) $0
Average Assets, year-to-date $444
Average Assets, quarterly $68,211
Volatile liabilities $14,906
Insider loans $68,799
FHLB advances $72,851
Loans and leases held for sale $14,521
Unused loan commitments $1,005
Tier 1 (core) risk-based capital $1,600
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $13,788
Restructured Loans and leases $0
Derivatives$709
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Income and Expense (December 31, 2003)
(Dollar figures in thousands)
Total interest income $4,701
Total interest expense $896
Net interest income $3,805
Provision for loan and lease losses $176
Total noninterest income $318
Fiduciary activities $0
Service charges on deposit accounts $235
Trading account gains & fees $0
Additional noninterest income $83
Total noninterest expense $3,037
Salaries and employee benefits $1,698
Premises and equipment expense $410
Additional noninterest expense $929
Pre-tax net operating income $910
Securities gains (losses) $9
Applicable income taxes $314
Income before extraordinary items $605
Extraordinary gains - net $0
Net income attributable to bank $605
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $99
Net operating income $53
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Performance and Condition Ratios (December 31, 2003)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.58%
Cost of funding earning assets 1.44%
Net interest margin 6.14%
Noninterest income to earning assets 0.51%
Noninterest expense to earning assets 4.90%
Net operating income to assets 0.87%
Return on assets (ROA) 0.88%
Pretax return on assets 1.34%
Return on equity (ROE) 9.19%
Retained earnings to average equity (YTD only) 8.39%
Net charge-offs to loans 0.19%
Credit loss provision to net charge-offs 177.78%
Efficiency ratio10.97%
Assets per employee$73,660
Cash dividends to net income (YTD only)2.24%
Condition Ratios (%)
Loss allowance to loans 8.76%
Loss allowance to noncurrent loans 1.40%
Noncurrent assets plus other real estate owned to assets 81400.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 84.09%
Equity capital to assets 100.52%
Core capital (leverage) ratio 8.70%
Tier 1 risk-based capital ratio 9.58%
Total risk-based capital ratio 12.01%
Memoranda
Average assets$13
Average earning assets$68,799
Average equity $6,582
Average loans $62,019
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