Utah Independent Bank in Salina, Utah (UT)

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Utah Independent Bank
GeneralFDIC Certificate #: 22514
Status: Active
Federal Reserve ID: 256179
Date Established: August 29, 1977
WWW: http://www.uibankonline.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 15702
Numeric code: 13
Regulator: FED
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: August 29, 1977
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
LocationAddress: 55 South State Street, Salina, UT 84654
County: Sevier
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Salt Lake City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $61.4 mil
Equity capital: $8.0 mil
Deposits held in domestic offices: $53.0 mil
Return on assets (ROA): 1.05% ($0.6 mil)
Quarterly return on assets: 1.13% ($0.7 mil)
Return on Equity (ROE): 7.84% ($0.6 mil)
Quarterly return on equity: 8.34% ($0.7 mil)
Net income: $0.6 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.05% ($645.1 mil)
Quarterly Pretax return on assets: 1.13% ($694.3 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)20
Total assets$61,440
Cash and due from depository institutions$6,576
Interest-bearing balances$2,406
Federal funds sold & reverse repurchase agreements$7,953
Net loans & leases$34,027
Loan loss allowance $1,096
Trading account assets$0
Bank premises and fixed assets$642
Other real estate owned$785
Goodwill and other intangibles$0
All other assets$1,614
Life insurance assets$61,440
Total liabilities and capital$53,396
Total liabilities$52,966
Total deposits$42,135
Interest-bearing deposits$52,966
Deposits held in domestic offices$87
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $430
All other liabilities $8,044
Total equity capital$8,044
Total bank equity capital$8,044
Perpetual preferred stock$0
Common stock$672
Undivided profits $6,683
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 $837
Earning assets $0
Long-term assets (5+ years) $401
Average Assets, year-to-date $54,229
Average Assets, quarterly $11,926
Volatile liabilities $58,711
Insider loans $59,469
FHLB advances $40,072
Loans and leases held for sale $60,970
Unused loan commitments $1,038
Tier 1 (core) risk-based capital $1,038
Tier 2 risk-based capital $7,988
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,084
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,797
Total interest expense $245
Net interest income $2,552
Provision for loan and lease losses $307
Total noninterest income $605
Fiduciary activities $0
Service charges on deposit accounts $494
Trading account gains & fees $0
Additional noninterest income $111
Total noninterest expense $2,235
Salaries and employee benefits $1,311
Premises and equipment expense $169
Additional noninterest expense $755
Pre-tax net operating income $615
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $615
Extraordinary gains - net $0
Net income attributable to bank $615
Net charge-offs $0
Cash dividends $615
Sale, conversion, retirement of capital stock, net $191
Net operating income $178
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.38%
Cost of funding earning assets 0.47%
Net interest margin 4.91%
Noninterest income to earning assets 1.16%
Noninterest expense to earning assets 4.30%
Net operating income to assets 1.05%
Return on assets (ROA) 1.05%
Pretax return on assets 1.05%
Return on equity (ROE) 7.84%
Retained earnings to average equity (YTD only) 5.57%
Net charge-offs to loans 0.53%
Credit loss provision to net charge-offs 160.73%
Efficiency ratio4.83%
Assets per employee$70,795
Cash dividends to net income (YTD only)3.07%
Condition Ratios (%)
Loss allowance to loans 28.94%
Loss allowance to noncurrent loans 3.12%
Noncurrent assets plus other real estate owned to assets 130.94%
Noncurrent loans to loans 2.64%
Net loans and leases to deposits2.38%
Net loans and leases to core deposits 64.24%
Equity capital to assets 65.67%
Core capital (leverage) ratio 13.09%
Tier 1 risk-based capital ratio 13.10%
Total risk-based capital ratio 19.93%
Average assets$21
Average earning assets$58,711
Average equity $7,842
Average loans $52,002
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3 Utah Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
015702Utah Independent Bank55 South State Street, Salina, UT 84654August 29, 1977Full Service Brick and Mortar
1254808Beaver Branch195 North Main, Beaver, UT 84713July 08, 1981Full Service Brick and Mortar
2441890Monroe Branch110 North Main St., Monroe, UT 84754Febuary 09, 2005Full Service Brick and Mortar
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