Merrill Lynch Bank USA in Salt Lake City, Utah (UT)



Show street view No street view available for this location
Table of contents:
Merrill Lynch Bank USA
GeneralFDIC Certificate #: 27374
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Bank of America, National Association (#3510)
Federal Reserve ID: 1225800
Date Established: October 31, 1988
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
OTS Docket #: 15118
FDIC's unique #: 39694
Numeric code: 23
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: October 31, 1988
Last Structure Change Effective Date: July 01, 2009
Last Structure Change Process Date: September 25, 2009
Last Data Update: September 25, 2009
Data Source Date: April 05, 2012
LocationAddress: 201 South Main Street, Salt Lake City, UT 84111
County: Salt Lake
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: Atlanta
FDIC Field Office: Salt Lake City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
Financial SummaryTotal assets: $67,995.1 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)857
Total assets$61,809,503
Cash and due from depository institutions$22,752,834
Interest-bearing balances$22,750,877
Securities$3,901,141
Federal funds sold & reverse repurchase agreements$3,633,000
Net loans & leases$23,754,568
Loan loss allowance $840,082
Trading account assets$228,075
Bank premises and fixed assets$14,348
Other real estate owned$23,630
Goodwill and other intangibles$0
All other assets$7,501,907
Life insurance assets$0
Total liabilities and capital$61,809,503
Total liabilities$58,472,861
Total deposits$53,620,324
Interest-bearing deposits$53,597,084
Deposits held in domestic offices$53,620,324
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,612
Other borrowed funds $3,816,359
Subordinated debt $0
All other liabilities $1,032,566
Total equity capital$3,336,642
Total bank equity capital$3,336,642
Perpetual preferred stock$3,336,642
Common stock$1,000,000
Surplus$1,000
Undivided profits $6,077,681
Memoranda
Noncurrent loans and leases $-3,742,039
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $27,454,094
Income earned, not collected on loans $0
Earning assets $294,389
Long-term assets (5+ years) $9,868
Average Assets, year-to-date $111,839
Average Assets, quarterly $54,264,512
Volatile liabilities $3,369,983
Insider loans $64,526,291
FHLB advances $61,726,394
Loans and leases held for sale $3,947,000
Unused loan commitments $0
Tier 1 (core) risk-based capital $3,750,000
Tier 2 risk-based capital $88,520,359
Total risk weighted assets $1,019,324
Total unused commitments $27,454,094
Restructured Loans and leases $915
Derivatives$495,203
Back to page top, Back to table top

Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $2,665,559
Total interest expense $931,465
Net interest income $1,734,094
Provision for loan and lease losses $863,088
Total noninterest income $1,436,494
Fiduciary activities $13,811
Service charges on deposit accounts $0
Trading account gains & fees -$217,921
Additional noninterest income $1,640,604
Total noninterest expense $880,030
Salaries and employee benefits $137,187
Premises and equipment expense $15,559
Additional noninterest expense $727,284
Pre-tax net operating income $1,427,470
Securities gains (losses) -$7,757,790
Applicable income taxes -$2,501,661
Income before extraordinary items -$3,828,659
Extraordinary gains - net -$47,589
Net income attributable to bank -$3,876,248
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $192,740
Net operating income $0
Back to page top, Back to table top

Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.61%
Cost of funding earning assets 1.61%
Net interest margin 3.00%
Noninterest income to earning assets 2.49%
Noninterest expense to earning assets 1.52%
Net operating income to assets 1.76%
Return on assets (ROA) -6.01%
Pretax return on assets -9.88%
Return on equity (ROE) -102.98%
Retained earnings to average equity (YTD only) -102.98%
Net charge-offs to loans 0.72%
Credit loss provision to net charge-offs 447.80%
Efficiency ratio11.88%
Assets per employee$27,756
Cash dividends to net income (YTD only)72.12%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.42%
Noncurrent assets plus other real estate owned to assets 285.36%
Noncurrent loans to loans 0.51%
Net loans and leases to deposits1.20%
Net loans and leases to core deposits 44.30%
Equity capital to assets 44.46%
Core capital (leverage) ratio 5.40%
Tier 1 risk-based capital ratio 6.98%
Total risk-based capital ratio 11.15%
Memoranda
Average assets$12
Average earning assets$64,526,291
Average equity $3,764,023
Average loans $57,777,684
Back to page top, Back to table top

Total Fiduciary and Related Assets (December 31, 2007)
(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$15,548,268
Number of Accounts1
Personal trust and agency accounts$15,548,268
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$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$15,548,268
Number of Accounts2
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
Back to page top, Back to table top

Bank Assets Sold and Securitized (December 31, 2007)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $4,188
Home equity lines$0
Credit cards receivables$0
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$0
Back to page top, Back to table top

User Contributions:

Comment about this bank, ask questions, or add new information about it:

CAPTCHA


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Merrill Lynch Bank USA.
Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.