Prime Pacific Bank, National Association in Lynnwood, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Prime Pacific Bank, National Association in Lynnwood, Washington (WA)
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Prime Pacific Bank, National Association - Overview

  • General
  • FDIC Certificate #: 34022
    Status: Active
    Federal Reserve ID: 2304382
    Bank Holding Company (Regulatory Top Holder): Prime Pacific Financial Services, Inc. (RSSDID: 2947341, Location: Lynnwood, WA)
    Date Established: May 22, 1995
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 14383
    FDIC's unique #: 55600
    Numeric code: 3
    Regulator: OCC
    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: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: May 22, 1995
    Last Structure Change Effective Date: June 15, 2009
    Last Structure Change Process Date: May 13, 2010
    Last Data Update: May 13, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 2502 196th Street, S.W., Lynnwood, WA 98036
    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)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $133.2 mil
    Equity capital: $10.4 mil
    Deposits held in domestic offices: $122.4 mil
    Return on assets (ROA): -0.21% (-$0.3 mil)
    Quarterly return on assets: -0.26% (-$0.3 mil)
    Return on Equity (ROE): -2.80% (-$0.3 mil)
    Quarterly return on equity: -3.37% (-$0.3 mil)
    Net income: -$0.3 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -0.33% (-$439.6 mil)
    Quarterly Pretax return on assets: -0.41% (-$546.2 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
  • 33Total employees (full-time equivalent)
  • $133,216Total assets
  • $8,468Cash and due from depository institutions
  • $7,747Interest-bearing balances
  • $9,546Securities
  • $90Federal funds sold & reverse repurchase agreements
  • $93,625Net loans & leases
  • $3,411Loan loss allowance
  • $0Trading account assets
  • $10,157Bank premises and fixed assets
  • $5,001Other real estate owned
  • $0Goodwill and other intangibles
  • $133,216Life insurance assets
  • $6,329All other assets
  • $122,779Total liabilities and capital
  • $122,402Total liabilities
  • $105,548Total deposits
  • $122,402Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $377Subordinated debt
  • $10,437All other liabilities
  • $10,437Total equity capital
  • $10,437Total bank equity capital
  • $0Perpetual preferred stock
  • $13,316Common stock
  • $0Surplus
  • $-2,879Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,517Income earned, not collected on loans
  • $0Earning assets
  • $512Long-term assets (5+ years)
  • $111,008Average Assets, year-to-date
  • $28,205Average Assets, quarterly
  • $140,963Volatile liabilities
  • $134,874Insider loans
  • $97,833FHLB advances
  • $131,601Loans and leases held for sale
  • $1,299Unused loan commitments
  • $1,299Tier 1 (core) risk-based capital
  • $6,729Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,977Restructured Loans and leases
  • $74Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,466Total interest income
  • $1,435Total interest expense
  • $5,031Net interest income
  • $100Provision for loan and lease losses
  • $216Total noninterest income
  • $0Fiduciary activities
  • $53Service charges on deposit accounts
  • $0Trading account gains & fees
  • $163Additional noninterest income
  • $5,606Total noninterest expense
  • $2,409Salaries and employee benefits
  • $1,027Premises and equipment expense
  • $2,170Additional noninterest expense
  • -$459Pre-tax net operating income
  • $0Securities gains (losses)
  • -$168Applicable income taxes
  • -$291Income before extraordinary items
  • $0Extraordinary gains - net
  • -$291Net income attributable to bank
  • $0Net charge-offs
  • -$291Cash dividends
  • $2,305Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.49%Yield on earning assets
  • 1.22%Cost of funding earning assets
  • 4.27%Net interest margin
  • 0.18%Noninterest income to earning assets
  • 4.76%Noninterest expense to earning assets
  • -0.21%Net operating income to assets
  • -0.21%Return on assets (ROA)
  • -0.33%Pretax return on assets
  • -2.80%Return on equity (ROE)
  • -2.80%Retained earnings to average equity (YTD only)
  • 2.25%Net charge-offs to loans
  • 4.34%Credit loss provision to net charge-offs
  • -0.16%Efficiency ratio
  • 106,842Assets per employee
  • 4.04%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.52%Loss allowance to noncurrent loans
  • 35.84%Noncurrent assets plus other real estate owned to assets
  • 10.90%Noncurrent loans to loans
  • 9.81%Net loans and leases to deposits
  • 76.49%Net loans and leases to core deposits
  • 84.63%Equity capital to assets
  • 7.83%Core capital (leverage) ratio
  • 5.11%Tier 1 risk-based capital ratio
  • 6.88%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $140,963Average earning assets
  • $10,381Average equity
  • $117,853Average loans

List of branches

  • 6 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    055600Prime Pacific Bank, National Association2502 196th Street, S.W., Lynnwood, WA 98036May 22, 1995Full Service Brick and Mortar
    1290314Courier Service Branch4710 196th Street Southwest, Lynnwood, WA 98036January 29, 1996Limited Service Messenger
    2360744Kenmore Branch6717 Ne 181st Street, Kenmore, WA 98028November 30, 2000Full Service Brick and Mortar
    3362823Lynnwood Messenger Service BranchSouthern Snohomish And Northeast King Counties, Washington, Lynnwood, WA 98036October 25, 2000Limited Service Messenger
    4478989Mill Creek Branch2130-132nd St. Se, Mill Creek, WA 98012December 26, 2007Full Service Brick and Mortar
    5490133Lynnwood Branch4710 196th Street, Sw, Lynnwood, WA 98036April 14, 2009Full Service Brick and Mortar

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