Towne Bank of Arizona in Mesa, Arizona (AZ)



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Towne Bank of Arizona
GeneralFDIC Certificate #: 57697
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: Commerce Bank of Arizona (#57279)
Federal Reserve ID: 3257047
Date Established: April 01, 2004
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 420152
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: April 01, 2004
Last Structure Change Effective Date: May 07, 2010
Last Structure Change Process Date: May 11, 2010
Last Data Update: May 11, 2010
Data Source Date: April 05, 2012
LocationAddress: 3156 East Baseline Road, Mesa, AZ 85204
County: Maricopa
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Phoenix
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Phoenix-Mesa, AZ (#6200)
Core Based Statistical Area (CBSA): Phoenix-Mesa-Glendale, AZ (#38060)
CBSA Metro Statistical Area: Phoenix-Mesa-Glendale, AZ (#38060)
Financial SummaryTotal assets: $120.2 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)25
Total assets$127,515
Cash and due from depository institutions$1,157
Interest-bearing balances$41
Securities$9,177
Federal funds sold & reverse repurchase agreements$13,898
Net loans & leases$76,410
Loan loss allowance $4,411
Trading account assets$0
Bank premises and fixed assets$331
Other real estate owned$25,522
Goodwill and other intangibles$0
All other assets$1,020
Life insurance assets$0
Total liabilities and capital$127,514
Total liabilities$120,434
Total deposits$113,643
Interest-bearing deposits$106,310
Deposits held in domestic offices$113,643
% insured (estimated)70.92%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $6,000
Subordinated debt $0
All other liabilities $791
Total equity capital$7,080
Total bank equity capital$7,080
Perpetual preferred stock$7,080
Common stock$0
Surplus$16,009
Undivided profits $19,630
Memoranda
Noncurrent loans and leases $-28,559
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,254
Income earned, not collected on loans $0
Earning assets $10,639
Long-term assets (5+ years) $0
Average Assets, year-to-date $169
Average Assets, quarterly $99,526
Volatile liabilities $13,139
Insider loans $136,177
FHLB advances $127,121
Loans and leases held for sale $88,386
Unused loan commitments $10
Tier 1 (core) risk-based capital $6,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $2,254
Restructured Loans and leases $1,405
Derivatives$1,409
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $5,687
Total interest expense $3,524
Net interest income $2,163
Provision for loan and lease losses $9,013
Total noninterest income -$4,724
Fiduciary activities $0
Service charges on deposit accounts $22
Trading account gains & fees $0
Additional noninterest income -$4,746
Total noninterest expense $6,678
Salaries and employee benefits $2,456
Premises and equipment expense $709
Additional noninterest expense $3,513
Pre-tax net operating income -$18,252
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items -$18,252
Extraordinary gains - net $0
Net income attributable to bank -$18,252
Net charge-offs $0
Cash dividends -$18,252
Sale, conversion, retirement of capital stock, net $13,406
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.01%
Cost of funding earning assets 3.10%
Net interest margin 1.90%
Noninterest income to earning assets -4.16%
Noninterest expense to earning assets 5.88%
Net operating income to assets -13.40%
Return on assets (ROA) -13.40%
Pretax return on assets -13.40%
Return on equity (ROE) -116.83%
Retained earnings to average equity (YTD only) -116.83%
Net charge-offs to loans 13.11%
Credit loss provision to net charge-offs 67.23%
Efficiency ratio-0.69%
Assets per employee-$260,758
Cash dividends to net income (YTD only)5.10%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.46%
Noncurrent assets plus other real estate owned to assets 41.46%
Noncurrent loans to loans 28.36%
Net loans and leases to deposits13.16%
Net loans and leases to core deposits 67.24%
Equity capital to assets 302.53%
Core capital (leverage) ratio 5.55%
Tier 1 risk-based capital ratio 5.29%
Total risk-based capital ratio 6.32%
Memoranda
Average assets$8
Average earning assets$136,177
Average equity $15,622
Average loans $113,580
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