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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