FDIC Certificate #: 28271 Status: Inactive Closing history: Corrections Acquiring institution:Union Bank, National Association (#22826) Federal Reserve ID: 703673 Date Established: January 01, 1925 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 1273 FDIC's unique #: 41105 Numeric code: 37 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes Oakar Institutions: Yes State Chartered: No Date of Deposit Insurance: August 27, 1936 Last Structure Change Effective Date: July 01, 2003 Last Structure Change Process Date: July 10, 2003 Last Data Update: July 10, 2003 Data Source Date: April 05, 2012
Location
Address: 35 East Lake Avenue, Watsonville, CA 95076 County: Santa Cruz Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: San Francisco Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Santa Cruz-Watsonville, CA (#7485) Consolidated Metropolitan Statistical Area (CMSA): San Francisco-Oakland-San Jose, CA (#84) Combined Statistical Area (CSA): San Jose-San Francisco-Oakland, CA (#488) Core Based Statistical Area (CBSA): Santa Cruz-Watsonville, CA (#42100) CBSA Metro Statistical Area: Santa Cruz-Watsonville, CA (#42100)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $631.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2002)
Dollar figures in thousands
123Total employees (full-time equivalent)
$609,691Total assets
$11,447Cash and due from depository institutions
$49Interest-bearing balances
$44,497Securities
$0Federal funds sold & reverse repurchase agreements
$523,474Net loans & leases
$7,700Loan loss allowance
$0Trading account assets
$7,160Bank premises and fixed assets
$846Other real estate owned
$868Goodwill and other intangibles
$0Life insurance assets
$21,399All other assets
$609,691Total liabilities and capital
$556,866Total liabilities
$461,898Total deposits
$435,694Interest-bearing deposits
$461,898Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$93,582Other borrowed funds
$0Subordinated debt
$1,386All other liabilities
$52,825Total equity capital
$52,825Total bank equity capital
$52,825Perpetual preferred stock
$0Common stock
$0Surplus
$9,433Undivided profits
Memoranda
$43,392Noncurrent loans and leases
$91,743Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,643Earning assets
$0Long-term assets (5+ years)
$2,758Average Assets, year-to-date
$568,020Average Assets, quarterly
$0Volatile liabilities
$565,305Insider loans
$592,337FHLB advances
$288,338Loans and leases held for sale
$3,608Unused loan commitments
$93,582Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$91,743Total unused commitments
$0Restructured Loans and leases
$5,640Derivatives
Income and Expense (December 31, 2002)
Dollar figures in thousands
$35,175Total interest income
$12,895Total interest expense
$22,280Net interest income
$1,510Provision for loan and lease losses
$2,194Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$2,194Additional noninterest income
$13,317Total noninterest expense
$8,051Salaries and employee benefits
$2,259Premises and equipment expense
$3,007Additional noninterest expense
$9,647Pre-tax net operating income
$205Securities gains (losses)
$3,957Applicable income taxes
$5,895Income before extraordinary items
$0Extraordinary gains - net
$5,895Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$475Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2002)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.60%Yield on earning assets
2.42%Cost of funding earning assets
4.18%Net interest margin
0.41%Noninterest income to earning assets
2.50%Noninterest expense to earning assets
1.02%Net operating income to assets
1.04%Return on assets (ROA)
1.74%Pretax return on assets
12.09%Return on equity (ROE)
12.09%Retained earnings to average equity (YTD only)
0.10%Net charge-offs to loans
317.89%Credit loss provision to net charge-offs
23.49%Efficiency ratio
51,630Assets per employee
4.96%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.45%Loss allowance to noncurrent loans
291.34%Noncurrent assets plus other real estate owned to assets
0.57%Noncurrent loans to loans
0.50%Net loans and leases to deposits
113.33%Net loans and leases to core deposits
195.95%Equity capital to assets
8.66%Core capital (leverage) ratio
8.57%Tier 1 risk-based capital ratio
11.63%Total risk-based capital ratio
Memoranda
$13Average assets
$565,305Average earning assets
$48,773Average equity
$533,316Average loans
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