Sterling Bank in Los Angeles, California (CA)



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Table of contents:
Sterling Bank
GeneralFDIC Certificate #: 23236
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Pacific Bank, National Association (#24706)
Federal Reserve ID: 718266
Date Established: November 05, 1980
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
FDIC's unique #: 16283
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: November 05, 1980
Last Structure Change Effective Date: July 03, 1998
Last Structure Change Process Date: July 22, 1998
Last Data Update: July 22, 1998
Data Source Date: April 05, 2012
LocationAddress: 3287 Wilshire Boulevard, Los Angeles, CA 90010
County: Los Angeles
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Los Angeles (West)
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
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: Los Angeles-Long Beach-Glendale, CA (#31084)
Financial SummaryTotal assets: $106.4 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)
(Dollar figures in thousands)
Total employees (full-time equivalent)55
Total assets$101,282
Cash and due from depository institutions$6,935
Interest-bearing balances$99
Securities$10,637
Federal funds sold & reverse repurchase agreements$15,000
Net loans & leases$64,776
Loan loss allowance $1,072
Trading account assets$0
Bank premises and fixed assets$1,045
Other real estate owned$1,780
Goodwill and other intangibles$0
All other assets$1,109
Life insurance assets$0
Total liabilities and capital$101,282
Total liabilities$94,689
Total deposits$94,302
Interest-bearing deposits$60,743
Deposits held in domestic offices$94,302
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $387
Total equity capital$6,593
Total bank equity capital$6,593
Perpetual preferred stock$6,593
Common stock$0
Surplus$4,475
Undivided profits $8,167
Memoranda
Noncurrent loans and leases $-6,049
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $781
Long-term assets (5+ years) $0
Average Assets, year-to-date $432
Average Assets, quarterly $90,512
Volatile liabilities $10,034
Insider loans $100,699
FHLB advances $101,028
Loans and leases held for sale $5,744
Unused loan commitments $1,650
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $5,884
Restructured Loans and leases $0
Derivatives$71,250
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Income and Expense (December 31, 1997)
(Dollar figures in thousands)
Total interest income $8,401
Total interest expense $2,503
Net interest income $5,898
Provision for loan and lease losses $1,237
Total noninterest income $1,077
Fiduciary activities $0
Service charges on deposit accounts $620
Trading account gains & fees $0
Additional noninterest income $457
Total noninterest expense $6,331
Salaries and employee benefits $2,842
Premises and equipment expense $1,035
Additional noninterest expense $2,454
Pre-tax net operating income -$593
Securities gains (losses) $0
Applicable income taxes $314
Income before extraordinary items -$907
Extraordinary gains - net $0
Net income attributable to bank -$907
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $1,410
Net operating income $0
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Performance and Condition Ratios (December 31, 1997)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets9.36%
Cost of funding earning assets 2.79%
Net interest margin 6.57%
Noninterest income to earning assets 1.20%
Noninterest expense to earning assets 7.05%
Net operating income to assets -0.90%
Return on assets (ROA) -0.90%
Pretax return on assets -0.59%
Return on equity (ROE) -14.06%
Retained earnings to average equity (YTD only) -14.06%
Net charge-offs to loans 2.12%
Credit loss provision to net charge-offs 87.73%
Efficiency ratio0.46%
Assets per employee$90,767
Cash dividends to net income (YTD only)1.84%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.63%
Noncurrent assets plus other real estate owned to assets 137.26%
Noncurrent loans to loans 2.53%
Net loans and leases to deposits1.19%
Net loans and leases to core deposits 68.69%
Equity capital to assets 73.15%
Core capital (leverage) ratio 6.51%
Tier 1 risk-based capital ratio 6.42%
Total risk-based capital ratio 9.25%
Memoranda
Average assets$11
Average earning assets$100,699
Average equity $6,453
Average loans $89,766
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