Target Bank in Salt Lake City, Utah (UT)
| Target Bank | |
|---|---|
| General | FDIC Certificate #: 57769 Status: Active Federal Reserve ID: 3296149 Date Established: September 27, 2004 WWW: http://www.target.com 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 22 |
| Total assets | $92,837 |
| Cash and due from depository institutions | $68,861 |
| Interest-bearing balances | $0 |
| Securities | $14,516 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $4,943 |
| Loan loss allowance | $102 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $102 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,415 |
| Life insurance assets | $92,837 |
| Total liabilities and capital | $74,395 |
| Total liabilities | $58,396 |
| Total deposits | $26,161 |
| Interest-bearing deposits | $58,396 |
| Deposits held in domestic offices | $56 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $11,021 |
| Other borrowed funds | $0 |
| Subordinated debt | $4,978 |
| All other liabilities | $18,442 |
| Total equity capital | $18,442 |
| Total bank equity capital | $18,442 |
| Perpetual preferred stock | $0 |
| Common stock | $1 |
| Surplus | $15,417 |
| Undivided profits | $3,024 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $20 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $25 |
| Average Assets, year-to-date | $19,459 |
| Average Assets, quarterly | $0 |
| Volatile liabilities | $56,949 |
| Insider loans | $67,592 |
| FHLB advances | $30,547 |
| Loans and leases held for sale | $64,526 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $18,442 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $20,917 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $156 |
| Total interest expense | $39 |
| Net interest income | $117 |
| Provision for loan and lease losses | $14 |
| Total noninterest income | $14,399 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $14,399 |
| Total noninterest expense | $5,726 |
| Salaries and employee benefits | $1,297 |
| Premises and equipment expense | $216 |
| Additional noninterest expense | $4,213 |
| Pre-tax net operating income | $8,776 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $3,392 |
| Income before extraordinary items | $5,384 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $5,384 |
| Net charge-offs | $0 |
| Cash dividends | $5,384 |
| Sale, conversion, retirement of capital stock, net | $41 |
| Net operating income | $2,000 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 0.86% |
| Cost of funding earning assets | 0.21% |
| Net interest margin | 0.64% |
| Noninterest income to earning assets | 79.35% |
| Noninterest expense to earning assets | 31.56% |
| Net operating income to assets | 9.45% |
| Return on assets (ROA) | 9.45% |
| Pretax return on assets | 15.41% |
| Return on equity (ROE) | 31.69% |
| Retained earnings to average equity (YTD only) | 19.92% |
| Net charge-offs to loans | 0.99% |
| Credit loss provision to net charge-offs | 34.15% |
| Efficiency ratio | 214.39% |
| Assets per employee | $39,446 |
| Cash dividends to net income (YTD only) | 4.22% |
| Condition Ratios (%) | |
| Loss allowance to loans | 37.15% |
| Loss allowance to noncurrent loans | 2.02% |
| Noncurrent assets plus other real estate owned to assets | 510.00% |
| Noncurrent loans to loans | 0.02% |
| Net loans and leases to deposits | 0.40% |
| Net loans and leases to core deposits | 8.46% |
| Equity capital to assets | 8.51% |
| Core capital (leverage) ratio | 19.86% |
| Tier 1 risk-based capital ratio | 28.58% |
| Total risk-based capital ratio | 60.37% |
| Memoranda | |
| Average assets | $61 |
| Average earning assets | $56,949 |
| Average equity | $16,990 |
| Average loans | $18,146 |
| 1 Utah Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 424229 | Target Bank | 299 South Main Street, 20th Floor, Salt Lake City, UT 84111 | September 27, 2004 | Full Service Brick and Mortar |  |
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