FDIC Certificate #: 22643 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Heritage Bank (#29012) Federal Reserve ID: 547279 Date Established: May 01, 1978 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 9 (Interstate: No) OTS Docket #: 9014 FDIC's unique #: 15798 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: May 01, 1978 Last Structure Change Effective Date: July 30, 2010 Last Structure Change Process Date: August 02, 2010 Last Data Update: August 02, 2010 Data Source Date: April 05, 2012
Location
Address: 927 Commerce Avenue, Longview, WA 98632 County: Cowlitz Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Portland Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Longview, WA (#31020) CBSA Metro Statistical Area: Longview, WA (#31020)
Financial Summary
Total assets: $489.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
113Total employees (full-time equivalent)
$552,010Total assets
$139,705Cash and due from depository institutions
$130,890Interest-bearing balances
$48,491Securities
$0Federal funds sold & reverse repurchase agreements
$333,163Net loans & leases
$10,164Loan loss allowance
$0Trading account assets
$5,489Bank premises and fixed assets
$4,348Other real estate owned
$0Goodwill and other intangibles
$15,560Life insurance assets
$20,814All other assets
$552,010Total liabilities and capital
$528,201Total liabilities
$524,137Total deposits
$477,618Interest-bearing deposits
$524,137Deposits held in domestic offices
90.10%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$6Other borrowed funds
$0Subordinated debt
$4,058All other liabilities
$23,809Total equity capital
$23,809Total bank equity capital
$23,809Perpetual preferred stock
$0Common stock
$985Surplus
$34,629Undivided profits
Memoranda
$-11,805Noncurrent loans and leases
$23,639Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$48,481Earning assets
$190Long-term assets (5+ years)
$1,680Average Assets, year-to-date
$512,544Average Assets, quarterly
$94,476Volatile liabilities
$577,593Insider loans
$564,923FHLB advances
$116,180Loans and leases held for sale
$164Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$23,639Total unused commitments
$0Restructured Loans and leases
$4,720Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$28,595Total interest income
$13,885Total interest expense
$14,710Net interest income
$22,351Provision for loan and lease losses
$6,283Total noninterest income
$799Fiduciary activities
$889Service charges on deposit accounts
$0Trading account gains & fees
$4,595Additional noninterest income
$23,298Total noninterest expense
$8,074Salaries and employee benefits
$2,564Premises and equipment expense
$12,660Additional noninterest expense
-$24,656Pre-tax net operating income
-$94Securities gains (losses)
$8,879Applicable income taxes
-$33,629Income before extraordinary items
$0Extraordinary gains - net
-$33,629Net income attributable to bank
$0Net charge-offs
-$33,629Cash dividends
$25,899Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.67%Yield on earning assets
2.76%Cost of funding earning assets
2.92%Net interest margin
1.25%Noninterest income to earning assets
4.62%Noninterest expense to earning assets
-5.81%Net operating income to assets
-5.82%Return on assets (ROA)
-4.29%Pretax return on assets
-76.20%Return on equity (ROE)
-76.20%Retained earnings to average equity (YTD only)
6.58%Net charge-offs to loans
86.30%Credit loss provision to net charge-offs
-0.09%Efficiency ratio
102,415Assets per employee
4.89%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.96%Loss allowance to noncurrent loans
20.96%Noncurrent assets plus other real estate owned to assets
9.57%Noncurrent loans to loans
14.12%Net loans and leases to deposits
63.56%Net loans and leases to core deposits
81.67%Equity capital to assets
4.31%Core capital (leverage) ratio
3.91%Tier 1 risk-based capital ratio
6.07%Total risk-based capital ratio
Memoranda
$7Average assets
$577,593Average earning assets
$44,131Average equity
$503,894Average loans
Total Fiduciary and Related Assets (December 31, 2009)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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