Summit Bank in Prescott, Arizona (AZ)



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Summit Bank routing number info

Table of contents:
Summit Bank
GeneralFDIC Certificate #: 57442
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: The Foothills Bank (#34573)
Federal Reserve ID: 3134885
Date Established: November 04, 2002
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 363686
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: November 04, 2002
Last Structure Change Effective Date: July 15, 2011
Last Structure Change Process Date: July 18, 2011
Last Data Update: July 18, 2011
Data Source Date: April 05, 2012
LocationAddress: 201 North Montezuma St., Prescott, AZ 86301
County: Yavapai
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Phoenix
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Prescott, AZ (#39140)
CBSA Metro Statistical Area: Prescott, AZ (#39140)
Financial SummaryTotal assets: $73.1 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, 2010)
(Dollar figures in thousands)
Total employees (full-time equivalent)18
Total assets$80,829
Cash and due from depository institutions$7,417
Interest-bearing balances$3,284
Securities$7,677
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$60,468
Loan loss allowance $3,510
Trading account assets$0
Bank premises and fixed assets$480
Other real estate owned$3,466
Goodwill and other intangibles$0
All other assets$1,321
Life insurance assets$0
Total liabilities and capital$80,829
Total liabilities$78,247
Total deposits$76,098
Interest-bearing deposits$68,250
Deposits held in domestic offices$76,098
% insured (estimated)99.21%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $2,000
Subordinated debt $0
All other liabilities $149
Total equity capital$2,582
Total bank equity capital$2,582
Perpetual preferred stock$2,582
Common stock$0
Surplus$8,470
Undivided profits $1,027
Memoranda
Noncurrent loans and leases $-6,915
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,918
Income earned, not collected on loans $0
Earning assets $3,996
Long-term assets (5+ years) $0
Average Assets, year-to-date $260
Average Assets, quarterly $71,429
Volatile liabilities $10,496
Insider loans $88,119
FHLB advances $83,909
Loans and leases held for sale $27,702
Unused loan commitments $270
Tier 1 (core) risk-based capital $2,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $2,918
Restructured Loans and leases $7,041
Derivatives$857
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Income and Expense (December 31, 2010)
(Dollar figures in thousands)
Total interest income $4,188
Total interest expense $883
Net interest income $3,305
Provision for loan and lease losses $2,763
Total noninterest income $406
Fiduciary activities $0
Service charges on deposit accounts $214
Trading account gains & fees $0
Additional noninterest income $192
Total noninterest expense $4,298
Salaries and employee benefits $1,343
Premises and equipment expense $845
Additional noninterest expense $2,110
Pre-tax net operating income -$3,350
Securities gains (losses) $54
Applicable income taxes $0
Income before extraordinary items -$3,296
Extraordinary gains - net $0
Net income attributable to bank -$3,296
Net charge-offs $0
Cash dividends -$3,296
Sale, conversion, retirement of capital stock, net $1,822
Net operating income $0
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Performance and Condition Ratios (December 31, 2010)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.27%
Cost of funding earning assets 1.11%
Net interest margin 4.16%
Noninterest income to earning assets 0.51%
Noninterest expense to earning assets 5.41%
Net operating income to assets -3.80%
Return on assets (ROA) -3.74%
Pretax return on assets -3.74%
Return on equity (ROE) -70.53%
Retained earnings to average equity (YTD only) -70.53%
Net charge-offs to loans 2.63%
Credit loss provision to net charge-offs 151.65%
Efficiency ratio-0.32%
Assets per employee$115,818
Cash dividends to net income (YTD only)4.49%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.49%
Noncurrent assets plus other real estate owned to assets 87.84%
Noncurrent loans to loans 9.23%
Net loans and leases to deposits6.25%
Net loans and leases to core deposits 79.46%
Equity capital to assets 124.94%
Core capital (leverage) ratio 3.19%
Tier 1 risk-based capital ratio 3.09%
Total risk-based capital ratio 4.00%
Memoranda
Average assets$5
Average earning assets$88,119
Average equity $4,673
Average loans $79,483
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