FDIC Certificate #: 35053 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Whidbey Island Bank (#18412) Federal Reserve ID: 2796017 Date Established: April 01, 1999 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) FDIC's unique #: 74357 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: April 01, 1999 Last Structure Change Effective Date: September 24, 2010 Last Structure Change Process Date: September 27, 2010 Last Data Update: September 27, 2010 Data Source Date: April 05, 2012
Location
Address: 16419 Smokey Point Blvd, Arlington, WA 98223 County: Snohomish Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Seattle Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Seattle-Bellevue-Everett, WA (#7600) Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91) Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660) CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660) Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
Financial Summary
Total assets: $288.8 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
45Total employees (full-time equivalent)
$337,969Total assets
$55,550Cash and due from depository institutions
$54,056Interest-bearing balances
$20,149Securities
$923Federal funds sold & reverse repurchase agreements
$236,164Net loans & leases
$13,011Loan loss allowance
$0Trading account assets
$3,397Bank premises and fixed assets
$6,816Other real estate owned
$0Goodwill and other intangibles
$3,849Life insurance assets
$14,970All other assets
$337,969Total liabilities and capital
$323,152Total liabilities
$321,324Total deposits
$307,576Interest-bearing deposits
$321,324Deposits held in domestic offices
92.68%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,828All other liabilities
$14,817Total equity capital
$14,817Total bank equity capital
$14,817Perpetual preferred stock
$0Common stock
$526Surplus
$19,174Undivided profits
Memoranda
$-4,883Noncurrent loans and leases
$17,458Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$51,633Earning assets
$0Long-term assets (5+ years)
$1,150Average Assets, year-to-date
$311,292Average Assets, quarterly
$11,698Volatile liabilities
$354,197Insider loans
$348,582FHLB advances
$139,843Loans and leases held for sale
$1,437Unused loan commitments
$0Tier 1 (core) risk-based capital
$1,428Tier 2 risk-based capital
$531Total risk weighted assets
$17,458Total unused commitments
$12,247Restructured Loans and leases
$3,339Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$17,603Total interest income
$10,354Total interest expense
$7,249Net interest income
$16,688Provision for loan and lease losses
$381Total noninterest income
$0Fiduciary activities
$133Service charges on deposit accounts
$0Trading account gains & fees
$248Additional noninterest income
$8,488Total noninterest expense
$3,217Salaries and employee benefits
$855Premises and equipment expense
$4,416Additional noninterest expense
-$17,546Pre-tax net operating income
$33Securities gains (losses)
-$6,091Applicable income taxes
-$11,422Income before extraordinary items
$0Extraordinary gains - net
-$11,422Net income attributable to bank
$0Net charge-offs
-$11,422Cash dividends
$11,831Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.28%Yield on earning assets
3.10%Cost of funding earning assets
2.17%Net interest margin
0.11%Noninterest income to earning assets
2.54%Noninterest expense to earning assets
-3.23%Net operating income to assets
-3.22%Return on assets (ROA)
-4.94%Pretax return on assets
-50.02%Return on equity (ROE)
-50.02%Retained earnings to average equity (YTD only)
4.25%Net charge-offs to loans
141.05%Credit loss provision to net charge-offs
-0.07%Efficiency ratio
111,245Assets per employee
7.51%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.22%Loss allowance to noncurrent loans
25.20%Noncurrent assets plus other real estate owned to assets
17.29%Noncurrent loans to loans
20.72%Net loans and leases to deposits
73.50%Net loans and leases to core deposits
130.13%Equity capital to assets
4.38%Core capital (leverage) ratio
3.21%Tier 1 risk-based capital ratio
4.29%Total risk-based capital ratio
Memoranda
$6Average assets
$354,197Average earning assets
$22,834Average equity
$333,540Average loans
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