Rock Canyon Bank in Orem, Utah (UT)

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Rock Canyon Bank
GeneralFDIC Certificate #: 33542
Status: Active
Federal Reserve ID: 1914421
Bank Holding Company (Regulatory Top Holder): Community Bancorporation (RSSDID: 2270825, Location: Pleasant Grove, UT)
Date Established: December 09, 1991
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 47422
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: December 09, 1991
Last Structure Change Effective Date: March 14, 2011
Last Structure Change Process Date: April 14, 2011
Last Data Update: April 14, 2011
Data Source Date: April 05, 2012
LocationAddress: 1376 North State Street, Orem, UT 84057
County: Utah
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): Provo-Orem, UT (#6520)
Core Based Statistical Area (CBSA): Provo-Orem, UT (#39340)
CBSA Metro Statistical Area: Provo-Orem, UT (#39340)
History of ChangesName Change
Financial SummaryTotal assets: $129.1 mil
Equity capital: $15.6 mil
Deposits held in domestic offices: $113.3 mil
Return on assets (ROA): 0.62% ($0.8 mil)
Quarterly return on assets: 0.74% ($1.0 mil)
Return on Equity (ROE): 4.75% ($0.8 mil)
Quarterly return on equity: 5.85% ($0.9 mil)
Net income: $0.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.61% ($787.4 mil)
Quarterly Pretax return on assets: 0.74% ($955.2 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)
Total employees (full-time equivalent)41
Total assets$129,086
Cash and due from depository institutions$15,259
Interest-bearing balances$9,999
Federal funds sold & reverse repurchase agreements$304
Net loans & leases$102,070
Loan loss allowance $3,777
Trading account assets$0
Bank premises and fixed assets$254
Other real estate owned$5,417
Goodwill and other intangibles$0
All other assets$5,782
Life insurance assets$129,086
Total liabilities and capital$113,462
Total liabilities$113,278
Total deposits$81,748
Interest-bearing deposits$113,278
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $184
All other liabilities $15,624
Total equity capital$15,624
Total bank equity capital$15,624
Perpetual preferred stock$0
Common stock$600
Undivided profits $-2,836
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,115
Earning assets $0
Long-term assets (5+ years) $546
Average Assets, year-to-date $112,373
Average Assets, quarterly $5,660
Volatile liabilities $115,794
Insider loans $122,194
FHLB advances $108,333
Loans and leases held for sale $121,179
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $12,598
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $12,739
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,889
Total interest expense $666
Net interest income $5,223
Provision for loan and lease losses -$188
Total noninterest income $789
Fiduciary activities $0
Service charges on deposit accounts $402
Trading account gains & fees $0
Additional noninterest income $387
Total noninterest expense $5,491
Salaries and employee benefits $2,846
Premises and equipment expense $750
Additional noninterest expense $1,895
Pre-tax net operating income $709
Securities gains (losses) $0
Applicable income taxes -$14
Income before extraordinary items $723
Extraordinary gains - net $0
Net income attributable to bank $723
Net charge-offs $0
Cash dividends $723
Sale, conversion, retirement of capital stock, net $609
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 assets5.95%
Cost of funding earning assets 0.67%
Net interest margin 5.28%
Noninterest income to earning assets 0.80%
Noninterest expense to earning assets 5.55%
Net operating income to assets 0.62%
Return on assets (ROA) 0.62%
Pretax return on assets 0.61%
Return on equity (ROE) 4.75%
Retained earnings to average equity (YTD only) 4.75%
Net charge-offs to loans 0.70%
Credit loss provision to net charge-offs -30.87%
Efficiency ratio0.86%
Assets per employee$91,334
Cash dividends to net income (YTD only)3.15%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.57%
Noncurrent assets plus other real estate owned to assets 338.74%
Noncurrent loans to loans 5.06%
Net loans and leases to deposits1.05%
Net loans and leases to core deposits 90.11%
Equity capital to assets 96.83%
Core capital (leverage) ratio 12.10%
Tier 1 risk-based capital ratio 10.40%
Total risk-based capital ratio 11.63%
Average assets$13
Average earning assets$115,794
Average equity $15,213
Average loans $98,920
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2 Utah Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
047422Rock Canyon Bank1376 North State Street, Orem, UT 84057December 09, 1991Full Service Brick and Mortar
1289741Pleasant Grove Branch475 East State Road, Pleasant Grove, UT 84062June 17, 1996Full Service Brick and Mortar
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