Mirae Bank in Los Angeles, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 26, 2009

  • Mirae Bank in Los Angeles, California (CA)
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Mirae Bank - Overview

  • General
  • FDIC Certificate #: 57332
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Wilshire State Bank (#23301)
    Federal Reserve ID: 3125016
    Date Established: July 01, 2002
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 362038
    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, 2002
    Last Structure Change Effective Date: June 26, 2009
    Last Structure Change Process Date: June 29, 2009
    Last Data Update: June 29, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 3255 Wilshire Boulevard #1100, Los Angeles, CA 90010
    County: Los Angeles
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Los Angeles (West)
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
    Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
    Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
    Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
    CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
    Core Based Statistical Division: Los Angeles-Long Beach-Glendale, CA (#31084)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $480.6 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
  • 98Total employees (full-time equivalent)
  • $423,077Total assets
  • $7,126Cash and due from depository institutions
  • $9Interest-bearing balances
  • $55,137Securities
  • $6,000Federal funds sold & reverse repurchase agreements
  • $339,698Net loans & leases
  • $18,222Loan loss allowance
  • $0Trading account assets
  • $3,162Bank premises and fixed assets
  • $0Other real estate owned
  • $1,576Goodwill and other intangibles
  • $0Life insurance assets
  • $10,378All other assets
  • $423,077Total liabilities and capital
  • $401,328Total liabilities
  • $336,952Total deposits
  • $296,715Interest-bearing deposits
  • $336,952Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $60,500Other borrowed funds
  • $0Subordinated debt
  • $3,876All other liabilities
  • $21,749Total equity capital
  • $21,749Total bank equity capital
  • $21,749Perpetual preferred stock
  • $0Common stock
  • $40,218Surplus
  • $5,349Undivided profits
  • Memoranda
  • $-23,818Noncurrent loans and leases
  • $26,708Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $18,322Earning assets
  • $2,653Long-term assets (5+ years)
  • $1,658Average Assets, year-to-date
  • $400,844Average Assets, quarterly
  • $50,874Volatile liabilities
  • $442,188Insider loans
  • $436,586FHLB advances
  • $159,477Loans and leases held for sale
  • $4,283Unused loan commitments
  • $60,500Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,094Total risk weighted assets
  • $26,708Total unused commitments
  • $11,399Restructured Loans and leases
  • $4,560Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $28,247Total interest income
  • $14,151Total interest expense
  • $14,096Net interest income
  • $35,521Provision for loan and lease losses
  • $3,689Total noninterest income
  • $0Fiduciary activities
  • $1,533Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,156Additional noninterest income
  • $14,620Total noninterest expense
  • $8,478Salaries and employee benefits
  • $2,082Premises and equipment expense
  • $4,060Additional noninterest expense
  • -$32,356Pre-tax net operating income
  • $197Securities gains (losses)
  • -$1,645Applicable income taxes
  • -$30,514Income before extraordinary items
  • $0Extraordinary gains - net
  • -$30,514Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $22,880Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.76%Yield on earning assets
  • 3.39%Cost of funding earning assets
  • 3.37%Net interest margin
  • 0.88%Noninterest income to earning assets
  • 3.50%Noninterest expense to earning assets
  • -6.94%Net operating income to assets
  • -6.90%Return on assets (ROA)
  • -7.27%Pretax return on assets
  • -74.84%Return on equity (ROE)
  • -74.84%Retained earnings to average equity (YTD only)
  • 6.23%Net charge-offs to loans
  • 155.25%Credit loss provision to net charge-offs
  • 0.14%Efficiency ratio
  • 82,204Assets per employee
  • 4.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.09%Loss allowance to noncurrent loans
  • 99.45%Noncurrent assets plus other real estate owned to assets
  • 4.33%Noncurrent loans to loans
  • 5.12%Net loans and leases to deposits
  • 100.81%Net loans and leases to core deposits
  • 164.92%Equity capital to assets
  • 5.14%Core capital (leverage) ratio
  • 4.66%Tier 1 risk-based capital ratio
  • 6.01%Total risk-based capital ratio
  • Memoranda
  • $7Average assets
  • $442,188Average earning assets
  • $40,771Average equity
  • $417,760Average loans

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