Proficio Bank in Salt Lake City, Utah (UT)



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Proficio Bank
GeneralFDIC Certificate #: 35495
Status: Active
Federal Reserve ID: 2908575
Bank Holding Company (Regulatory Top Holder): Nhb Holdings, Inc. (RSSDID: 3466456, Location: Salt Lake City, UT)
Date Established: May 01, 2000
WWW: http://www.proficiobank.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 #: 80579
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: May 01, 2000
Last Structure Change Effective Date: August 07, 2008
Last Structure Change Process Date: August 07, 2008
Last Data Update: August 07, 2008
Data Source Date: April 05, 2012
LocationAddress: 420 East South Temple, Salt Lake City, UT 84111
County: Salt Lake
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Salt Lake City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
Financial SummaryTotal assets: $142.9 mil
Equity capital: $12.0 mil
Deposits held in domestic offices: $128.4 mil
Return on assets (ROA): -4.66% (-$6.7 mil)
Quarterly return on assets: -4.66% (-$6.7 mil)
Return on Equity (ROE): -41.17% (-$4.9 mil)
Quarterly return on equity: -49.93% (-$6.0 mil)
Net income: -$6.6 mil
Quarterly Net income: -$1.6 mil
Pretax return on assets: -4.66% (-$6,661.3 mil)
Quarterly Pretax return on assets: -4.66% (-$6,661.3 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)344
Total assets$142,947
Cash and due from depository institutions$13,260
Interest-bearing balances$12,007
Securities$16,495
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$98,226
Loan loss allowance $2,418
Trading account assets$0
Bank premises and fixed assets$201
Other real estate owned$11,162
Goodwill and other intangibles$0
All other assets$3,603
Life insurance assets$142,947
Total liabilities and capital$130,949
Total liabilities$128,383
Total deposits$125,743
Interest-bearing deposits$128,383
Deposits held in domestic offices$100
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $2,566
All other liabilities $11,998
Total equity capital$11,998
Total bank equity capital$11,998
Perpetual preferred stock$0
Common stock$1
Surplus$40,101
Undivided profits $-28,104
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $30,117
Income earned, not collected on loans $9,938
Earning assets $1,055
Long-term assets (5+ years) $334
Average Assets, year-to-date $126,728
Average Assets, quarterly $18,161
Volatile liabilities $141,883
Insider loans $137,580
FHLB advances $108,685
Loans and leases held for sale $140,049
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $11,741
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $32,882
Derivatives$125
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,485
Total interest expense $1,035
Net interest income $4,450
Provision for loan and lease losses $3,033
Total noninterest income $9,752
Fiduciary activities $0
Service charges on deposit accounts $4
Trading account gains & fees $0
Additional noninterest income $9,748
Total noninterest expense $17,860
Salaries and employee benefits $9,550
Premises and equipment expense $1,039
Additional noninterest expense $7,271
Pre-tax net operating income -$6,691
Securities gains (losses) $77
Applicable income taxes $0
Income before extraordinary items -$6,614
Extraordinary gains - net $0
Net income attributable to bank -$6,614
Net charge-offs $0
Cash dividends -$6,614
Sale, conversion, retirement of capital stock, net $3,211
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 assets4.29%
Cost of funding earning assets 0.81%
Net interest margin 3.48%
Noninterest income to earning assets 7.62%
Noninterest expense to earning assets 13.96%
Net operating income to assets -4.72%
Return on assets (ROA) -4.66%
Pretax return on assets -4.66%
Return on equity (ROE) -41.17%
Retained earnings to average equity (YTD only) -41.17%
Net charge-offs to loans 3.02%
Credit loss provision to net charge-offs 94.46%
Efficiency ratio-1.14%
Assets per employee$125,757
Cash dividends to net income (YTD only)0.42%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.40%
Noncurrent assets plus other real estate owned to assets 24.33%
Noncurrent loans to loans 14.76%
Net loans and leases to deposits9.87%
Net loans and leases to core deposits 76.51%
Equity capital to assets 103.59%
Core capital (leverage) ratio 8.39%
Tier 1 risk-based capital ratio 8.38%
Total risk-based capital ratio 10.80%
Memoranda
Average assets$12
Average earning assets$141,883
Average equity $16,067
Average loans $127,937
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Bank Assets Sold and Securitized (December 31, 2003)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $0
Home equity lines$0
Credit cards receivables$0
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$520
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1 Utah Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
080579Proficio Bank420 East South Temple, Salt Lake City, UT 84111May 01, 2000Full Service Brick and Mortar
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