Olympia Federal Savings and Loan Association in Olympia, Washington (WA)



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Olympia Federal Savings and Loan Association
GeneralFDIC Certificate #: 28599
Status: Active
Federal Reserve ID: 550279
Date Established: January 01, 1906
WWW: http://www.olyfed.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 7 (Domestic: 7, Interstate: No)
OTS Docket #: 1925
FDIC's unique #: 41433
Numeric code: 38
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: December 07, 1934
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 5th & Capitol Way, Olympia, WA 98501
County: Thurston
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): Olympia, WA (#5910)
Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
Core Based Statistical Area (CBSA): Olympia, WA (#36500)
CBSA Metro Statistical Area: Olympia, WA (#36500)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $559.5 mil
Equity capital: $77.8 mil
Deposits held in domestic offices: $472.7 mil
Return on assets (ROA): 0.55% ($3.1 mil)
Quarterly return on assets: 0.66% ($3.7 mil)
Return on Equity (ROE): 4.03% ($3.1 mil)
Quarterly return on equity: 4.78% ($3.7 mil)
Net income: $3.1 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 0.83% ($4,643.5 mil)
Quarterly Pretax return on assets: 1.02% ($5,706.5 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)90
Total assets$559,459
Cash and due from depository institutions$84,069
Interest-bearing balances$82,465
Securities$67,199
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$366,950
Loan loss allowance $886
Trading account assets$0
Bank premises and fixed assets$14,639
Other real estate owned$2,827
Goodwill and other intangibles$0
All other assets$23,775
Life insurance assets$559,459
Total liabilities and capital$481,653
Total liabilities$472,737
Total deposits$465,257
Interest-bearing deposits$472,737
Deposits held in domestic offices$98
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$6,500
Other borrowed funds $0
Subordinated debt $2,416
All other liabilities $77,806
Total equity capital$77,806
Total bank equity capital$77,806
Perpetual preferred stock$0
Common stock$0
Surplus$0
Undivided profits $77,806
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,964
Earning assets $0
Long-term assets (5+ years) $1,938
Average Assets, year-to-date $516,614
Average Assets, quarterly $0
Volatile liabilities $553,117
Insider loans $558,731
FHLB advances $281,128
Loans and leases held for sale $559,482
Unused loan commitments $17,005
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $77,821
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $18,519
Derivatives$565
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $22,966
Total interest expense $6,521
Net interest income $16,445
Provision for loan and lease losses $690
Total noninterest income $1,123
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $1,123
Total noninterest expense $12,298
Salaries and employee benefits $7,126
Premises and equipment expense $2,642
Additional noninterest expense $2,530
Pre-tax net operating income $4,580
Securities gains (losses) $0
Applicable income taxes $1,515
Income before extraordinary items $3,065
Extraordinary gains - net $0
Net income attributable to bank $3,065
Net charge-offs $0
Cash dividends $3,065
Sale, conversion, retirement of capital stock, net $995
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.49%
Cost of funding earning assets 1.28%
Net interest margin 3.22%
Noninterest income to earning assets 0.22%
Noninterest expense to earning assets 2.40%
Net operating income to assets 0.55%
Return on assets (ROA) 0.55%
Pretax return on assets 0.83%
Return on equity (ROE) 4.03%
Retained earnings to average equity (YTD only) 4.03%
Net charge-offs to loans 0.26%
Credit loss provision to net charge-offs 69.35%
Efficiency ratio5.30%
Assets per employee$70,002
Cash dividends to net income (YTD only)6.22%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.24%
Noncurrent assets plus other real estate owned to assets 22.35%
Noncurrent loans to loans 1.21%
Net loans and leases to deposits1.08%
Net loans and leases to core deposits 77.62%
Equity capital to assets 78.45%
Core capital (leverage) ratio 13.91%
Tier 1 risk-based capital ratio 13.91%
Total risk-based capital ratio 27.68%
Memoranda
Average assets$28
Average earning assets$553,117
Average equity $76,137
Average loans $511,404
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7 Washington Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
041433Olympia Federal Savings And Loan Ass5th & Capitol Way, Olympia, WA 98501January 01, 1906Full Service Brick and Mortar
12692012420 Harrison Ave Branch2420 Harrison Ave, Olympia, WA 98502January 01, 1906Full Service Brick and Mortar
100269202Thriftway Shopping Center Branch21 St Highway 300, Belfair, WA 98528January 01, 1906Full Service Brick and Mortar
1012692034310 6th Ave Se Branch4310 6th Ave Se, Lacey, WA 98503January 01, 1906Full Service Brick and Mortar
102269204403 Cleveland Ave Suite C Branch403 Cleveland Ave Se #c, Tumwater, WA 98501January 01, 1906Full Service Brick and Mortar
103269205Yelm Highway Branch4860 Yelm Highway Southeast, Lacey, WA 98503June 30, 1996Full Service Brick and Mortar
104495219Hawks Prairie Branch8300 Quinault Dr Ne, Olympia, WA 98516July 13, 2006Full Service Brick and Mortar
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