North County Bank in Arlington, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 24, 2010

  • North County Bank in Arlington, Washington (WA)
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North County Bank - Overview

  • General
  • 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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