Summit Bank & Trust in Broomfield, Colorado (CO)

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Summit Bank & Trust
GeneralFDIC Certificate #: 58458
Status: Active
Federal Reserve ID: 3465226
Bank Holding Company (Regulatory Top Holder): Heartland Financial Usa, Inc. (RSSDID: 1206546, Location: Dubuque, IA)
Date Established: November 01, 2006
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 452215
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: November 01, 2006
Last Structure Change Effective Date: October 04, 2011
Last Structure Change Process Date: October 04, 2011
Last Data Update: October 04, 2011
Data Source Date: April 05, 2012
LocationAddress: 2002 East Coalton Road, Broomfield, CO 80021
County: Broomfield
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Kansas City
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Combined Statistical Area (CSA): Denver-Aurora-Boulder, CO (#216)
Core Based Statistical Area (CBSA): Denver-Aurora-Broomfield, CO (#19740)
CBSA Metro Statistical Area: Denver-Aurora-Broomfield, CO (#19740)
Financial SummaryTotal assets: $101.1 mil
Equity capital: $12.4 mil
Deposits held in domestic offices: $81.2 mil
Return on assets (ROA): -0.83% (-$0.8 mil)
Quarterly return on assets: -0.62% (-$0.6 mil)
Return on Equity (ROE): -6.40% (-$0.8 mil)
Quarterly return on equity: -4.94% (-$0.6 mil)
Net income: -$0.8 mil
Quarterly Net income: -$0.2 mil
Pretax return on assets: -1.53% (-$1,547.2 mil)
Quarterly Pretax return on assets: -1.20% (-$1,213.5 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)38
Total assets$101,122
Cash and due from depository institutions$951
Interest-bearing balances$6
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$63,232
Loan loss allowance $1,012
Trading account assets$0
Bank premises and fixed assets$7,888
Other real estate owned$344
Goodwill and other intangibles$399
All other assets$3,592
Life insurance assets$101,122
Total liabilities and capital$88,681
Total liabilities$81,224
Total deposits$66,794
Interest-bearing deposits$81,224
Deposits held in domestic offices$94
% insured (estimated)6550.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $907
All other liabilities $12,441
Total equity capital$12,441
Total bank equity capital$12,441
Perpetual preferred stock$0
Common stock$2,449
Undivided profits $-8,534
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,833
Income earned, not collected on loans $2,848
Earning assets $0
Long-term assets (5+ years) $357
Average Assets, year-to-date $87,954
Average Assets, quarterly $22,777
Volatile liabilities $96,959
Insider loans $100,325
FHLB advances $75,938
Loans and leases held for sale $95,749
Unused loan commitments $1,936
Tier 1 (core) risk-based capital $1,936
Tier 2 risk-based capital $11,220
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $14,725
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,040
Total interest expense $1,168
Net interest income $2,872
Provision for loan and lease losses $1,179
Total noninterest income $1,288
Fiduciary activities $0
Service charges on deposit accounts $135
Trading account gains & fees $0
Additional noninterest income $1,153
Total noninterest expense $4,714
Salaries and employee benefits $2,256
Premises and equipment expense $1,011
Additional noninterest expense $1,447
Pre-tax net operating income -$1,733
Securities gains (losses) $250
Applicable income taxes -$681
Income before extraordinary items -$802
Extraordinary gains - net $0
Net income attributable to bank -$802
Net charge-offs $0
Cash dividends -$802
Sale, conversion, retirement of capital stock, net $1,438
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 assets4.87%
Cost of funding earning assets 1.41%
Net interest margin 3.46%
Noninterest income to earning assets 1.55%
Noninterest expense to earning assets 5.68%
Net operating income to assets -0.99%
Return on assets (ROA) -0.83%
Pretax return on assets -1.53%
Return on equity (ROE) -6.40%
Retained earnings to average equity (YTD only) -6.40%
Net charge-offs to loans 2.70%
Credit loss provision to net charge-offs 81.99%
Efficiency ratio-0.39%
Assets per employee$112,067
Cash dividends to net income (YTD only)2.66%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.58%
Noncurrent assets plus other real estate owned to assets 35.53%
Noncurrent loans to loans 3.16%
Net loans and leases to deposits4.43%
Net loans and leases to core deposits 77.85%
Equity capital to assets 88.08%
Core capital (leverage) ratio 12.30%
Tier 1 risk-based capital ratio 11.72%
Total risk-based capital ratio 14.78%
Average assets$16
Average earning assets$96,959
Average equity $12,535
Average loans $83,031
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3 Colorado Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0452215Summit Bank & Trust2002 East Coalton Road, Broomfield, CO 80021November 01, 2006Full Service Brick and Mortar
1463046Larkridge Branch16501 Washington Street, Thornton, CO 80023May 14, 2007Full Service Brick and Mortar
2468932Summit Bank & Trust199 South Briggs Street, Erie, CO 80516October 29, 2007Full Service Brick and Mortar
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