Target Bank in Salt Lake City, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Target Bank in Salt Lake City, Utah (UT)
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Target Bank - Overview

  • General
  • FDIC Certificate #: 57769
    Status: Active
    Federal Reserve ID: 3296149
    Date Established: September 27, 2004
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 424229
    Numeric code: 23
    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: Other Specialized Lending < 1 Billion
    Date of Deposit Insurance: September 27, 2004
    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
  • Location
  • Address: 299 South Main Street, 20th Floor, Salt Lake City, UT 84111
    County: Salt Lake
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Salt Lake City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
    Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
    Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
    CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $92.8 mil
    Equity capital: $18.4 mil
    Deposits held in domestic offices: $58.4 mil
    Return on assets (ROA): 9.45% ($8.8 mil)
    Quarterly return on assets: 11.37% ($10.6 mil)
    Return on Equity (ROE): 31.69% ($5.7 mil)
    Quarterly return on equity: 42.76% ($7.7 mil)
    Net income: $5.4 mil
    Quarterly Net income: $1.9 mil
    Pretax return on assets: 15.41% ($14,306.2 mil)
    Quarterly Pretax return on assets: 19.04% ($17,676.2 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
  • 22Total employees (full-time equivalent)
  • $92,837Total assets
  • $68,861Cash and due from depository institutions
  • $0Interest-bearing balances
  • $14,516Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $4,943Net loans & leases
  • $102Loan loss allowance
  • $0Trading account assets
  • $102Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $92,837Life insurance assets
  • $4,415All other assets
  • $74,395Total liabilities and capital
  • $58,396Total liabilities
  • $26,161Total deposits
  • $58,396Interest-bearing deposits
  • $56Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $11,021Trading liabilities
  • $0Other borrowed funds
  • $4,978Subordinated debt
  • $18,442All other liabilities
  • $18,442Total equity capital
  • $18,442Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $15,417Surplus
  • $3,024Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $20Income earned, not collected on loans
  • $0Earning assets
  • $25Long-term assets (5+ years)
  • $19,459Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $56,949Volatile liabilities
  • $67,592Insider loans
  • $30,547FHLB advances
  • $64,526Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $18,442Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $20,917Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $156Total interest income
  • $39Total interest expense
  • $117Net interest income
  • $14Provision for loan and lease losses
  • $14,399Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $14,399Additional noninterest income
  • $5,726Total noninterest expense
  • $1,297Salaries and employee benefits
  • $216Premises and equipment expense
  • $4,213Additional noninterest expense
  • $8,776Pre-tax net operating income
  • $0Securities gains (losses)
  • $3,392Applicable income taxes
  • $5,384Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,384Net income attributable to bank
  • $0Net charge-offs
  • $5,384Cash dividends
  • $41Sale, conversion, retirement of capital stock, net
  • $2,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.86%Yield on earning assets
  • 0.21%Cost of funding earning assets
  • 0.64%Net interest margin
  • 79.35%Noninterest income to earning assets
  • 31.56%Noninterest expense to earning assets
  • 9.45%Net operating income to assets
  • 9.45%Return on assets (ROA)
  • 15.41%Pretax return on assets
  • 31.69%Return on equity (ROE)
  • 19.92%Retained earnings to average equity (YTD only)
  • 0.99%Net charge-offs to loans
  • 34.15%Credit loss provision to net charge-offs
  • 214.39%Efficiency ratio
  • 39,446Assets per employee
  • 4.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 37.15%Loss allowance to loans
  • 2.02%Loss allowance to noncurrent loans
  • 510.00%Noncurrent assets plus other real estate owned to assets
  • 0.02%Noncurrent loans to loans
  • 0.40%Net loans and leases to deposits
  • 8.46%Net loans and leases to core deposits
  • 8.51%Equity capital to assets
  • 19.86%Core capital (leverage) ratio
  • 28.58%Tier 1 risk-based capital ratio
  • 60.37%Total risk-based capital ratio
  • Memoranda
  • $61Average assets
  • $56,949Average earning assets
  • $16,990Average equity
  • $18,146Average loans

List of branches

  • 1 Utah Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0424229Target Bank299 South Main Street, 20th Floor, Salt Lake City, UT 84111September 27, 2004Full Service Brick and Mortar

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