Redmond National Bank in Redmond, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 03, 2005

  • Redmond National Bank in Redmond, Washington (WA)
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Redmond National Bank - Overview

  • General
  • FDIC Certificate #: 27372
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Venture Bank (#22868)
    Federal Reserve ID: 1219144
    Date Established: October 25, 1988
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 3 (Interstate: No)
    OTS Docket #: 9660
    FDIC's unique #: 39692
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: October 25, 1988
    Last Structure Change Effective Date: September 03, 2005
    Last Structure Change Process Date: September 20, 2005
    Last Data Update: September 20, 2005
    Data Source Date: April 05, 2012
  • Location
  • Address: 15801 N.E. 85th Street, Redmond, WA 98034
    County: King
    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)
  • Financial Summary
  • Total assets: $117.5 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, 2004)

  • Dollar figures in thousands
  • 26Total employees (full-time equivalent)
  • $103,657Total assets
  • $3,929Cash and due from depository institutions
  • $2,251Interest-bearing balances
  • $2,681Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $93,706Net loans & leases
  • $1,210Loan loss allowance
  • $0Trading account assets
  • $1,628Bank premises and fixed assets
  • $155Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,558All other assets
  • $103,657Total liabilities and capital
  • $90,324Total liabilities
  • $88,871Total deposits
  • $76,709Interest-bearing deposits
  • $88,871Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $1,000Other borrowed funds
  • $0Subordinated debt
  • $453All other liabilities
  • $13,333Total equity capital
  • $13,333Total bank equity capital
  • $13,333Perpetual preferred stock
  • $0Common stock
  • $500Surplus
  • $6,760Undivided profits
  • Memoranda
  • $6,073Noncurrent loans and leases
  • $32,272Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,035Earning assets
  • $0Long-term assets (5+ years)
  • $415Average Assets, year-to-date
  • $98,638Average Assets, quarterly
  • $20,532Volatile liabilities
  • $99,780Insider loans
  • $101,454FHLB advances
  • $18,710Loans and leases held for sale
  • $1,266Unused loan commitments
  • $1,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $32,272Total unused commitments
  • $0Restructured Loans and leases
  • $1,210Derivatives

Income and Expense (December 31, 2004)

  • Dollar figures in thousands
  • $6,949Total interest income
  • $1,699Total interest expense
  • $5,250Net interest income
  • $460Provision for loan and lease losses
  • $268Total noninterest income
  • $0Fiduciary activities
  • $157Service charges on deposit accounts
  • $0Trading account gains & fees
  • $111Additional noninterest income
  • $3,259Total noninterest expense
  • $1,831Salaries and employee benefits
  • $457Premises and equipment expense
  • $971Additional noninterest expense
  • $1,799Pre-tax net operating income
  • $0Securities gains (losses)
  • $611Applicable income taxes
  • $1,188Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,188Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $544Sale, conversion, retirement of capital stock, net
  • $180Net operating income

Performance and Condition Ratios (December 31, 2004)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.33%Yield on earning assets
  • 1.79%Cost of funding earning assets
  • 5.54%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 3.44%Noninterest expense to earning assets
  • 1.19%Net operating income to assets
  • 1.19%Return on assets (ROA)
  • 1.80%Pretax return on assets
  • 9.30%Return on equity (ROE)
  • 7.89%Retained earnings to average equity (YTD only)
  • 0.59%Net charge-offs to loans
  • 84.56%Credit loss provision to net charge-offs
  • 4.15%Efficiency ratio
  • 59,061Assets per employee
  • 3.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 15.15%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 116.91%Noncurrent assets plus other real estate owned to assets
  • 1.15%Noncurrent loans to loans
  • 1.09%Net loans and leases to deposits
  • 105.44%Net loans and leases to core deposits
  • 131.68%Equity capital to assets
  • 12.86%Core capital (leverage) ratio
  • 12.94%Tier 1 risk-based capital ratio
  • 13.02%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $99,780Average earning assets
  • $12,773Average equity
  • $94,766Average loans

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