State Bank of Southern Utah in Cedar City, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

State Bank of Southern Utah - Overview

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 163Total employees (full-time equivalent)
  • $674,265Total assets
  • $13,604Cash and due from depository institutions
  • $4,679Interest-bearing balances
  • $225,884Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $383,793Net loans & leases
  • $11,495Loan loss allowance
  • $0Trading account assets
  • $14,082Bank premises and fixed assets
  • $11,527Other real estate owned
  • $1,529Goodwill and other intangibles
  • $674,265Life insurance assets
  • $23,846All other assets
  • $593,373Total liabilities and capital
  • $573,197Total liabilities
  • $477,657Total deposits
  • $573,197Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 13007.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,695Trading liabilities
  • $0Other borrowed funds
  • $5,474Subordinated debt
  • $80,892All other liabilities
  • $80,892Total equity capital
  • $80,892Total bank equity capital
  • $0Perpetual preferred stock
  • $255Common stock
  • $4,000Surplus
  • $76,637Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $834Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $17,246Income earned, not collected on loans
  • $894Earning assets
  • $3,682Long-term assets (5+ years)
  • $614,356Average Assets, year-to-date
  • $128,288Average Assets, quarterly
  • $668,178Volatile liabilities
  • $674,855Insider loans
  • $487,087FHLB advances
  • $676,874Loans and leases held for sale
  • $11,337Unused loan commitments
  • $9,800Tier 1 (core) risk-based capital
  • $79,049Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,537Total unused commitments
  • $66,553Restructured Loans and leases
  • $22,829Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $27,775Total interest income
  • $5,111Total interest expense
  • $22,664Net interest income
  • $8,014Provision for loan and lease losses
  • $4,550Total noninterest income
  • $0Fiduciary activities
  • $1,481Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,069Additional noninterest income
  • $16,501Total noninterest expense
  • $8,494Salaries and employee benefits
  • $2,086Premises and equipment expense
  • $5,921Additional noninterest expense
  • $2,699Pre-tax net operating income
  • $161Securities gains (losses)
  • $272Applicable income taxes
  • $2,588Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,588Net income attributable to bank
  • $0Net charge-offs
  • $2,588Cash dividends
  • $8,054Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.60%Yield on earning assets
  • 0.85%Cost of funding earning assets
  • 3.75%Net interest margin
  • 0.75%Noninterest income to earning assets
  • 2.73%Noninterest expense to earning assets
  • 0.37%Net operating income to assets
  • 0.39%Return on assets (ROA)
  • 0.43%Pretax return on assets
  • 3.26%Return on equity (ROE)
  • 3.26%Retained earnings to average equity (YTD only)
  • 1.97%Net charge-offs to loans
  • 99.50%Credit loss provision to net charge-offs
  • 1.33%Efficiency ratio
  • 60,634Assets per employee
  • 4.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.91%Loss allowance to noncurrent loans
  • 66.65%Noncurrent assets plus other real estate owned to assets
  • 4.27%Noncurrent loans to loans
  • 4.36%Net loans and leases to deposits
  • 66.96%Net loans and leases to core deposits
  • 71.72%Equity capital to assets
  • 12.00%Core capital (leverage) ratio
  • 11.68%Tier 1 risk-based capital ratio
  • 16.23%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $668,178Average earning assets
  • $79,332Average equity
  • $603,791Average loans

List of branches

  • 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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