Summit Bank in Tulsa, Oklahoma (OK)



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Table of contents:
Summit Bank
GeneralFDIC Certificate #: 57289
Status: Active
Federal Reserve ID: 3043651
Date Established: January 11, 2002
WWW: http://www.summitbankok.com
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 #: 360642
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 11, 2002
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: 5314 South Yale, Suite 100, Tulsa, OK 74135
County: Tulsa
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Tulsa
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Tulsa, OK (#8560)
Combined Statistical Area (CSA): Tulsa-Bartlesville, OK (#538)
Core Based Statistical Area (CBSA): Tulsa, OK (#46140)
CBSA Metro Statistical Area: Tulsa, OK (#46140)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $219.6 mil
Equity capital: $20.9 mil
Deposits held in domestic offices: $186.4 mil
Return on assets (ROA): 1.25% ($2.8 mil)
Quarterly return on assets: 1.22% ($2.7 mil)
Return on Equity (ROE): 12.89% ($2.7 mil)
Quarterly return on equity: 12.54% ($2.6 mil)
Net income: $2.6 mil
Quarterly Net income: $0.7 mil
Pretax return on assets: 1.25% ($2,744.8 mil)
Quarterly Pretax return on assets: 1.22% ($2,679.0 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)43
Total assets$219,588
Cash and due from depository institutions$26,214
Interest-bearing balances$19,228
Securities$4,313
Federal funds sold & reverse repurchase agreements$497
Net loans & leases$178,839
Loan loss allowance $2,794
Trading account assets$0
Bank premises and fixed assets$871
Other real estate owned$634
Goodwill and other intangibles$0
All other assets$8,220
Life insurance assets$219,588
Total liabilities and capital$198,701
Total liabilities$186,389
Total deposits$134,067
Interest-bearing deposits$186,389
Deposits held in domestic offices$75
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,082
Other borrowed funds $0
Subordinated debt $2,230
All other liabilities $20,887
Total equity capital$20,887
Total bank equity capital$20,887
Perpetual preferred stock$0
Common stock$4,397
Surplus$11,372
Undivided profits $5,118
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $362
Income earned, not collected on loans $1,690
Earning assets $0
Long-term assets (5+ years) $618
Average Assets, year-to-date $202,877
Average Assets, quarterly $18,681
Volatile liabilities $204,751
Insider loans $213,927
FHLB advances $176,959
Loans and leases held for sale $215,538
Unused loan commitments $4,740
Tier 1 (core) risk-based capital $4,740
Tier 2 risk-based capital $20,891
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $32,008
Derivatives$5,187
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,334
Total interest expense $1,227
Net interest income $8,107
Provision for loan and lease losses $327
Total noninterest income $1,082
Fiduciary activities $0
Service charges on deposit accounts $248
Trading account gains & fees $0
Additional noninterest income $834
Total noninterest expense $6,299
Salaries and employee benefits $4,080
Premises and equipment expense $479
Additional noninterest expense $1,740
Pre-tax net operating income $2,563
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $2,563
Extraordinary gains - net $0
Net income attributable to bank $2,563
Net charge-offs $0
Cash dividends $2,563
Sale, conversion, retirement of capital stock, net $348
Net operating income $675
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.00%
Cost of funding earning assets 0.66%
Net interest margin 4.34%
Noninterest income to earning assets 0.58%
Noninterest expense to earning assets 3.37%
Net operating income to assets 1.25%
Return on assets (ROA) 1.25%
Pretax return on assets 1.25%
Return on equity (ROE) 12.89%
Retained earnings to average equity (YTD only) 9.49%
Net charge-offs to loans 0.21%
Credit loss provision to net charge-offs 93.97%
Efficiency ratio8.30%
Assets per employee$68,549
Cash dividends to net income (YTD only)5.11%
Condition Ratios (%)
Loss allowance to loans 26.34%
Loss allowance to noncurrent loans 1.54%
Noncurrent assets plus other real estate owned to assets 165.33%
Noncurrent loans to loans 1.06%
Net loans and leases to deposits0.93%
Net loans and leases to core deposits 95.95%
Equity capital to assets 108.65%
Core capital (leverage) ratio 9.51%
Tier 1 risk-based capital ratio 9.69%
Total risk-based capital ratio 11.81%
Memoranda
Average assets$13
Average earning assets$204,751
Average equity $19,886
Average loans $186,700
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2 Oklahoma Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0360642Summit Bank5314 South Yale, Suite 100, Tulsa, OK 74135January 11, 2002Full Service Brick and Mortar
2519352Summit Bank1001 N.W. 63rd Street, Oklahoma City, OK 73116May 16, 2011Full Service Brick and Mortar
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