Rainier Pacific Bank in Tacoma, Washington (WA)



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Rainier Pacific Bank
GeneralFDIC Certificate #: 38129
Status: Inactive
Closing history: Corrections
Acquiring institution: Umpqua Bank (#17266)
Federal Reserve ID: 129394
Date Established: October 05, 1933
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 14 (Interstate: No)
FDIC's unique #: 102524
Numeric code: 42
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 2001
Last Structure Change Effective Date: Febuary 26, 2010
Last Structure Change Process Date: March 02, 2010
Last Data Update: March 02, 2010
Data Source Date: April 05, 2012
LocationAddress: 1498 Pacific Avenue, Tacoma, WA 98402
County: Pierce
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): Tacoma, WA (#8200)
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: Tacoma, WA (#45104)
History of ChangesAbsorption - Assisted
Corrections
Financial SummaryTotal assets: $717.8 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)
Total employees (full-time equivalent)191
Total assets$717,806
Cash and due from depository institutions$44,660
Interest-bearing balances$36,732
Securities$43,583
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$553,953
Loan loss allowance $10,187
Trading account assets$0
Bank premises and fixed assets$30,276
Other real estate owned$14,247
Goodwill and other intangibles$2,782
All other assets$28,305
Life insurance assets$0
Total liabilities and capital$717,806
Total liabilities$728,891
Total deposits$446,192
Interest-bearing deposits$399,927
Deposits held in domestic offices$446,192
% insured (estimated)92.73%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $279,337
Subordinated debt $0
All other liabilities $3,362
Total equity capital$-11,085
Total bank equity capital$-11,085
Perpetual preferred stock$-11,085
Common stock$0
Surplus$1
Undivided profits $46,557
Memoranda
Noncurrent loans and leases $-57,643
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $46,210
Income earned, not collected on loans $0
Earning assets $17,771
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,767
Average Assets, quarterly $634,268
Volatile liabilities $129,590
Insider loans $801,349
FHLB advances $740,705
Loans and leases held for sale $99,046
Unused loan commitments $13,589
Tier 1 (core) risk-based capital $279,337
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $46,210
Restructured Loans and leases $0
Derivatives$10,050
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $41,301
Total interest expense $20,537
Net interest income $20,764
Provision for loan and lease losses $14,700
Total noninterest income $10,641
Fiduciary activities $0
Service charges on deposit accounts $2,573
Trading account gains & fees $0
Additional noninterest income $8,068
Total noninterest expense $28,207
Salaries and employee benefits $14,034
Premises and equipment expense $4,247
Additional noninterest expense $9,926
Pre-tax net operating income -$11,502
Securities gains (losses) -$43,514
Applicable income taxes $13,953
Income before extraordinary items -$68,969
Extraordinary gains - net $0
Net income attributable to bank -$68,969
Net charge-offs $0
Cash dividends -$68,969
Sale, conversion, retirement of capital stock, net $17,842
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.88%
Cost of funding earning assets 2.92%
Net interest margin 2.96%
Noninterest income to earning assets 1.51%
Noninterest expense to earning assets 4.02%
Net operating income to assets -3.18%
Return on assets (ROA) -8.61%
Pretax return on assets -6.87%
Return on equity (ROE) -318.16%
Retained earnings to average equity (YTD only) -318.16%
Net charge-offs to loans 2.90%
Credit loss provision to net charge-offs 82.39%
Efficiency ratio0.18%
Assets per employee$88,725
Cash dividends to net income (YTD only)3.76%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.81%
Noncurrent assets plus other real estate owned to assets 57.32%
Noncurrent loans to loans 6.05%
Net loans and leases to deposits3.15%
Net loans and leases to core deposits 124.15%
Equity capital to assets 159.57%
Core capital (leverage) ratio -1.54%
Tier 1 risk-based capital ratio 1.69%
Total risk-based capital ratio 1.55%
Memoranda
Average assets$3
Average earning assets$801,349
Average equity $21,677
Average loans $702,382
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