Sunrise Bank in San Diego, California (CA)

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Sunrise Bank
GeneralFDIC Certificate #: 57808
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: AmericanWest Bank (#22441)
Federal Reserve ID: 3195037
Date Established: August 02, 2004
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 425770
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: August 02, 2004
Last Structure Change Effective Date: July 29, 2011
Last Structure Change Process Date: August 02, 2011
Last Data Update: August 02, 2011
Data Source Date: April 05, 2012
LocationAddress: 1350 Rosecrans Street, San Diego, CA 92106
County: San Diego
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: Chicago
FDIC Field Office: Orange
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): San Diego, CA (#7320)
Core Based Statistical Area (CBSA): San Diego-Carlsbad-San Marcos, CA (#41740)
CBSA Metro Statistical Area: San Diego-Carlsbad-San Marcos, CA (#41740)
Financial SummaryTotal assets: $225.3 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)58
Total assets$231,836
Cash and due from depository institutions$45,249
Interest-bearing balances$38,850
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$175,826
Loan loss allowance $7,815
Trading account assets$0
Bank premises and fixed assets$600
Other real estate owned$3,482
Goodwill and other intangibles$0
All other assets$4,686
Life insurance assets$10
Total liabilities and capital$231,836
Total liabilities$212,263
Total deposits$210,536
Interest-bearing deposits$129,308
Deposits held in domestic offices$210,536
% insured (estimated)92.73%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $1,500
Subordinated debt $0
All other liabilities $227
Total equity capital$19,573
Total bank equity capital$19,573
Perpetual preferred stock$19,573
Common stock$0
Undivided profits $5,885
Noncurrent loans and leases $-19,896
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $29,204
Income earned, not collected on loans $0
Earning assets $8,529
Long-term assets (5+ years) $0
Average Assets, year-to-date $691
Average Assets, quarterly $216,669
Volatile liabilities $50,443
Insider loans $258,518
FHLB advances $247,075
Loans and leases held for sale $44,669
Unused loan commitments $1,915
Tier 1 (core) risk-based capital $1,500
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $29,204
Restructured Loans and leases $3,807
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Income and Expense (December 31, 2010)
(Dollar figures in thousands)
Total interest income $12,681
Total interest expense $1,355
Net interest income $11,326
Provision for loan and lease losses $5,810
Total noninterest income -$846
Fiduciary activities $0
Service charges on deposit accounts $344
Trading account gains & fees $0
Additional noninterest income -$1,190
Total noninterest expense $14,997
Salaries and employee benefits $4,544
Premises and equipment expense $1,487
Additional noninterest expense $8,966
Pre-tax net operating income -$10,327
Securities gains (losses) $0
Applicable income taxes $31
Income before extraordinary items -$10,358
Extraordinary gains - net $0
Net income attributable to bank -$10,358
Net charge-offs $0
Cash dividends -$10,358
Sale, conversion, retirement of capital stock, net $4,726
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 assets5.34%
Cost of funding earning assets 0.57%
Net interest margin 4.77%
Noninterest income to earning assets -0.36%
Noninterest expense to earning assets 6.31%
Net operating income to assets -4.01%
Return on assets (ROA) -4.01%
Pretax return on assets -3.99%
Return on equity (ROE) -41.65%
Retained earnings to average equity (YTD only) -41.65%
Net charge-offs to loans 2.38%
Credit loss provision to net charge-offs 122.94%
Efficiency ratio-0.96%
Assets per employee$97,576
Cash dividends to net income (YTD only)4.00%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.26%
Noncurrent assets plus other real estate owned to assets 91.63%
Noncurrent loans to loans 5.18%
Net loans and leases to deposits4.64%
Net loans and leases to core deposits 83.51%
Equity capital to assets 105.05%
Core capital (leverage) ratio 8.44%
Tier 1 risk-based capital ratio 7.04%
Total risk-based capital ratio 9.93%
Average assets$11
Average earning assets$258,518
Average equity $24,866
Average loans $237,548
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