Open Bank in Los Angeles, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Open Bank in Los Angeles, California (CA)
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Open Bank - Overview

  • General
  • FDIC Certificate #: 57944
    Status: Active
    Federal Reserve ID: 3357219
    Date Established: June 10, 2005
    WWW: http://www.myopenbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 432260
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: June 10, 2005
    Last Structure Change Effective Date: January 07, 2011
    Last Structure Change Process Date: January 07, 2011
    Last Data Update: January 07, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1000 Wilshire Boulevard, Suite 100, Los Angeles, CA 90017
    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)
  • Financial Summary
  • Total assets: $142.4 mil
    Equity capital: $19.4 mil
    Deposits held in domestic offices: $121.3 mil
    Return on assets (ROA): 1.14% ($1.6 mil)
    Quarterly return on assets: 0.38% ($0.5 mil)
    Return on Equity (ROE): 8.69% ($1.7 mil)
    Quarterly return on equity: 2.71% ($0.5 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 1.26% ($1,794.0 mil)
    Quarterly Pretax return on assets: 0.52% ($740.4 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
  • 42Total employees (full-time equivalent)
  • $142,383Total assets
  • $19,595Cash and due from depository institutions
  • $13,495Interest-bearing balances
  • $10,023Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $106,580Net loans & leases
  • $4,939Loan loss allowance
  • $0Trading account assets
  • $313Bank premises and fixed assets
  • $0Other real estate owned
  • $1,466Goodwill and other intangibles
  • $142,383Life insurance assets
  • $4,406All other assets
  • $122,965Total liabilities and capital
  • $121,281Total liabilities
  • $87,797Total deposits
  • $121,281Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,684Subordinated debt
  • $19,418All other liabilities
  • $19,418Total equity capital
  • $19,418Total bank equity capital
  • $0Perpetual preferred stock
  • $38,604Common stock
  • $409Surplus
  • $-19,595Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,892Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,826Income earned, not collected on loans
  • $1,390Earning assets
  • $451Long-term assets (5+ years)
  • $130,098Average Assets, year-to-date
  • $12,846Average Assets, quarterly
  • $134,077Volatile liabilities
  • $139,330Insider loans
  • $117,406FHLB advances
  • $136,760Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $19,233Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $19,276Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,632Total interest income
  • $1,204Total interest expense
  • $5,428Net interest income
  • $2,162Provision for loan and lease losses
  • $5,395Total noninterest income
  • $0Fiduciary activities
  • $127Service charges on deposit accounts
  • $0Trading account gains & fees
  • $5,268Additional noninterest income
  • $6,998Total noninterest expense
  • $4,134Salaries and employee benefits
  • $775Premises and equipment expense
  • $2,089Additional noninterest expense
  • $1,663Pre-tax net operating income
  • $26Securities gains (losses)
  • $157Applicable income taxes
  • $1,532Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,532Net income attributable to bank
  • $0Net charge-offs
  • $1,532Cash dividends
  • $1,344Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.31%Yield on earning assets
  • 0.96%Cost of funding earning assets
  • 4.35%Net interest margin
  • 4.32%Noninterest income to earning assets
  • 5.61%Noninterest expense to earning assets
  • 1.12%Net operating income to assets
  • 1.14%Return on assets (ROA)
  • 1.26%Pretax return on assets
  • 8.69%Return on equity (ROE)
  • 8.69%Retained earnings to average equity (YTD only)
  • 1.23%Net charge-offs to loans
  • 160.86%Credit loss provision to net charge-offs
  • 2.85%Efficiency ratio
  • 64,659Assets per employee
  • 3.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.43%Loss allowance to noncurrent loans
  • 102.34%Noncurrent assets plus other real estate owned to assets
  • 3.39%Noncurrent loans to loans
  • 4.33%Net loans and leases to deposits
  • 87.88%Net loans and leases to core deposits
  • 89.57%Equity capital to assets
  • 13.64%Core capital (leverage) ratio
  • 14.06%Tier 1 risk-based capital ratio
  • 16.38%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $134,077Average earning assets
  • $17,635Average equity
  • $124,853Average loans

List of branches

  • 1 California Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0432260Open Bank1000 Wilshire Boulevard, Suite 100, Los Angeles, CA 90017June 10, 2005Full Service Brick and Mortar

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