South County Bank, National Association in Rancho Santa Margarita, California (CA)

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South County Bank, National Association
GeneralFDIC Certificate #: 35069
Status: Active
Federal Reserve ID: 2854494
Bank Holding Company (Regulatory Top Holder): Calwest Bancorp (RSSDID: 3188860, Location: Rancho Santa Margarita, CA)
Date Established: October 21, 1999
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: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 74644
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: October 21, 1999
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 22342 Avenida Empresa, Rancho Santa Margarita, CA 92688
County: Orange
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Orange
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Orange County, CA (#5945)
Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
Core Based Statistical Division: Santa Ana-Anaheim-Irvine, CA (#42044)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $145.5 mil
Equity capital: $10.0 mil
Deposits held in domestic offices: $134.0 mil
Return on assets (ROA): -0.17% (-$0.2 mil)
Quarterly return on assets: -0.01% (-$0.0 mil)
Return on Equity (ROE): -2.88% (-$0.3 mil)
Quarterly return on equity: -0.12% (-$0.0 mil)
Net income: -$0.3 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: -0.17% (-$247.4 mil)
Quarterly Pretax return on assets: -0.01% (-$14.6 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)37
Total assets$145,522
Cash and due from depository institutions$5,793
Interest-bearing balances$1,230
Federal funds sold & reverse repurchase agreements$5,365
Net loans & leases$74,868
Loan loss allowance $3,897
Trading account assets$0
Bank premises and fixed assets$126
Other real estate owned$1,015
Goodwill and other intangibles$0
All other assets$8,908
Life insurance assets$145,522
Total liabilities and capital$135,560
Total liabilities$134,032
Total deposits$83,730
Interest-bearing deposits$134,032
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,000
Other borrowed funds $0
Subordinated debt $528
All other liabilities $9,962
Total equity capital$9,962
Total bank equity capital$9,962
Perpetual preferred stock$0
Common stock$10,659
Undivided profits $-16,560
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,350
Income earned, not collected on loans $8,819
Earning assets $397
Long-term assets (5+ years) $454
Average Assets, year-to-date $130,910
Average Assets, quarterly $42,293
Volatile liabilities $163,130
Insider loans $149,906
FHLB advances $85,406
Loans and leases held for sale $150,922
Unused loan commitments $5,805
Tier 1 (core) risk-based capital $4,726
Tier 2 risk-based capital $9,513
Total risk weighted assets $0
Total unused commitments $1,079
Restructured Loans and leases $14,018
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,887
Total interest expense $1,045
Net interest income $4,842
Provision for loan and lease losses $189
Total noninterest income $1,729
Fiduciary activities $0
Service charges on deposit accounts $630
Trading account gains & fees $0
Additional noninterest income $1,099
Total noninterest expense $7,054
Salaries and employee benefits $2,761
Premises and equipment expense $1,062
Additional noninterest expense $3,231
Pre-tax net operating income -$672
Securities gains (losses) $391
Applicable income taxes $2
Income before extraordinary items -$283
Extraordinary gains - net $0
Net income attributable to bank -$283
Net charge-offs $0
Cash dividends -$283
Sale, conversion, retirement of capital stock, net $601
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 assets4.01%
Cost of funding earning assets 0.71%
Net interest margin 3.30%
Noninterest income to earning assets 1.18%
Noninterest expense to earning assets 4.80%
Net operating income to assets -0.41%
Return on assets (ROA) -0.17%
Pretax return on assets -0.17%
Return on equity (ROE) -2.88%
Retained earnings to average equity (YTD only) -2.88%
Net charge-offs to loans 0.68%
Credit loss provision to net charge-offs 31.45%
Efficiency ratio-0.80%
Assets per employee$107,350
Cash dividends to net income (YTD only)3.93%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.95%
Noncurrent assets plus other real estate owned to assets 44.19%
Noncurrent loans to loans 6.76%
Net loans and leases to deposits11.20%
Net loans and leases to core deposits 55.86%
Equity capital to assets 62.80%
Core capital (leverage) ratio 6.85%
Tier 1 risk-based capital ratio 6.30%
Total risk-based capital ratio 11.14%
Average assets$12
Average earning assets$163,130
Average equity $9,817
Average loans $146,839
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5 California Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
074644South County Bank, National Association22342 Avenida Empresa, Rancho Santa Margarita, CA 92688October 21, 1999Full Service Brick and Mortar
1461625Rancho Santa Margarita Branch22342 Avenida Empresa, Rancho Santa Margarita, CA 92688Febuary 01, 2007Limited Service Messenger
2463136Redlands Branch1200 California Street, Suite 240, Redlands, CA 92374Febuary 28, 2007Full Service Brick and Mortar
3463137Surf City Bank - Huntington Beach Br7755 Center Avenue, Suite 100, Huntington Beach, CA 92647Febuary 26, 2007Full Service Brick and Mortar
5463601Irvine Branch2 Venture, Suite 120, Irvine, CA 92618March 08, 2006Full Service Brick and Mortar
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