State Bank of Southern Utah in Cedar City, Utah (UT)



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State Bank of Southern Utah routing number info

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State Bank of Southern Utah
GeneralFDIC Certificate #: 17964
Status: Active
Federal Reserve ID: 656470
Bank Holding Company (Regulatory Top Holder): Southern Utah Bancorporation (RSSDID: 2169871, Location: Cedar City, UT)
Date Established: November 25, 1957
WWW: http://www.sbsu.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 13 (Domestic: 13, Interstate: No)
OTS Docket #: 9795
FDIC's unique #: 11897
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: Febuary 02, 1959
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: 377 North Main, Cedar City, UT 84720
County: Iron
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
Core Based Statistical Area (CBSA): Cedar City, UT (#16260)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $674.3 mil
Equity capital: $80.9 mil
Deposits held in domestic offices: $573.2 mil
Return on assets (ROA): 0.39% ($2.6 mil)
Quarterly return on assets: -0.36% (-$2.4 mil)
Return on Equity (ROE): 3.26% ($2.6 mil)
Quarterly return on equity: -3.02% (-$2.4 mil)
Net income: $2.6 mil
Quarterly Net income: -$0.6 mil
Pretax return on assets: 0.43% ($2,899.3 mil)
Quarterly Pretax return on assets: -0.56% (-$3,775.9 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)163
Total assets$674,265
Cash and due from depository institutions$13,604
Interest-bearing balances$4,679
Securities$225,884
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$383,793
Loan loss allowance $11,495
Trading account assets$0
Bank premises and fixed assets$14,082
Other real estate owned$11,527
Goodwill and other intangibles$1,529
All other assets$23,846
Life insurance assets$674,265
Total liabilities and capital$593,373
Total liabilities$573,197
Total deposits$477,657
Interest-bearing deposits$573,197
Deposits held in domestic offices$91
% insured (estimated)13007.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,695
Other borrowed funds $0
Subordinated debt $5,474
All other liabilities $80,892
Total equity capital$80,892
Total bank equity capital$80,892
Perpetual preferred stock$0
Common stock$255
Surplus$4,000
Undivided profits $76,637
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $834
Income earned, not collected on loans $17,246
Earning assets $894
Long-term assets (5+ years) $3,682
Average Assets, year-to-date $614,356
Average Assets, quarterly $128,288
Volatile liabilities $668,178
Insider loans $674,855
FHLB advances $487,087
Loans and leases held for sale $676,874
Unused loan commitments $11,337
Tier 1 (core) risk-based capital $9,800
Tier 2 risk-based capital $79,049
Total risk weighted assets $0
Total unused commitments $1,537
Restructured Loans and leases $66,553
Derivatives$22,829
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $27,775
Total interest expense $5,111
Net interest income $22,664
Provision for loan and lease losses $8,014
Total noninterest income $4,550
Fiduciary activities $0
Service charges on deposit accounts $1,481
Trading account gains & fees $0
Additional noninterest income $3,069
Total noninterest expense $16,501
Salaries and employee benefits $8,494
Premises and equipment expense $2,086
Additional noninterest expense $5,921
Pre-tax net operating income $2,699
Securities gains (losses) $161
Applicable income taxes $272
Income before extraordinary items $2,588
Extraordinary gains - net $0
Net income attributable to bank $2,588
Net charge-offs $0
Cash dividends $2,588
Sale, conversion, retirement of capital stock, net $8,054
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 assets4.60%
Cost of funding earning assets 0.85%
Net interest margin 3.75%
Noninterest income to earning assets 0.75%
Noninterest expense to earning assets 2.73%
Net operating income to assets 0.37%
Return on assets (ROA) 0.39%
Pretax return on assets 0.43%
Return on equity (ROE) 3.26%
Retained earnings to average equity (YTD only) 3.26%
Net charge-offs to loans 1.97%
Credit loss provision to net charge-offs 99.50%
Efficiency ratio1.33%
Assets per employee$60,634
Cash dividends to net income (YTD only)4.14%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.91%
Noncurrent assets plus other real estate owned to assets 66.65%
Noncurrent loans to loans 4.27%
Net loans and leases to deposits4.36%
Net loans and leases to core deposits 66.96%
Equity capital to assets 71.72%
Core capital (leverage) ratio 12.00%
Tier 1 risk-based capital ratio 11.68%
Total risk-based capital ratio 16.23%
Memoranda
Average assets$17
Average earning assets$668,178
Average equity $79,332
Average loans $603,791
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13 Utah Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011897State Bank Of Southern Utah377 North Main, Cedar City, UT 84720November 25, 1957Full Service Brick and Mortar
1243357Long Valley Branch55 East Main Street, Orderville, UT 84758October 13, 1975Full Service Brick and Mortar
2243358Kanab Branch99 West Center Street, Kanab, UT 84741June 05, 1978Full Service Brick and Mortar
3243359Circleville Branch125 West Main Street, Circleville, UT 84723May 24, 1982Full Service Brick and Mortar
4243360Parowan Branch93 North Main Street, Parowan, UT 84761December 28, 1992Full Service Brick and Mortar
5243361Cedar City Branch397 South Main Street, Cedar City, UT 84720June 20, 1991Full Service Brick and Mortar
6243362St. George Branch395 East St. George Boulevard, St. George, UT 84770July 19, 1993Full Service Brick and Mortar
7243363Santa Clara Branch2287 Santa Clara Drive, Santa Clara, UT 84765Febuary 10, 1997Full Service Brick and Mortar
8243364Tropic Branch200 North Main, Tropic, UT 84776July 08, 1997Full Service Brick and Mortar
914328Richfield BranchMain And Center Streets, Richfield, UT 84701July 10, 1972Full Service Brick and Mortar
10360283Cedar City Walmart1330 S. Providence Center Dr., Cedar City, UT 84720May 16, 2001Full Service Retail
13455070Hurrican Office720 West State Street, Hurricane, UT 84737August 03, 2006Full Service Brick and Mortar
14467491St. George Branch1337 E. 170 S., Saint George, UT 84790July 25, 2007Full Service Brick and Mortar
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