Valley National Bank of Cortez in Cortez, Colorado (CO)



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Valley National Bank of Cortez
GeneralFDIC Certificate #: 22963
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Vectra Bank Colorado, National Association (#2993)
Federal Reserve ID: 722553
Date Established: October 01, 1979
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 3 (Interstate: No)
OTS Docket #: 11475
FDIC's unique #: 16066
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: October 01, 1979
Last Structure Change Effective Date: January 23, 1998
Last Structure Change Process Date: Febuary 10, 1998
Last Data Update: Febuary 10, 1998
Data Source Date: April 05, 2012
LocationAddress: 350 West Montezuma, Cortez, CO 81321
County: Montezuma
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: San Francisco
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial SummaryTotal assets: $96.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)
(Dollar figures in thousands)
Total employees (full-time equivalent)44
Total assets$96,779
Cash and due from depository institutions$3,178
Interest-bearing balances$200
Securities$28,676
Federal funds sold & reverse repurchase agreements$5,356
Net loans & leases$39,177
Loan loss allowance $891
Trading account assets$0
Bank premises and fixed assets$2,092
Other real estate owned$37
Goodwill and other intangibles$17,099
All other assets$1,164
Life insurance assets$0
Total liabilities and capital$96,779
Total liabilities$72,955
Total deposits$72,323
Interest-bearing deposits$60,421
Deposits held in domestic offices$72,323
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $632
Total equity capital$23,824
Total bank equity capital$23,824
Perpetual preferred stock$23,824
Common stock$0
Surplus$1,770
Undivided profits $21,528
Memoranda
Noncurrent loans and leases $526
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $730
Long-term assets (5+ years) $256
Average Assets, year-to-date $525
Average Assets, quarterly $73,409
Volatile liabilities $21,196
Insider loans $89,203
FHLB advances $95,954
Loans and leases held for sale $4,666
Unused loan commitments $345
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $6,933
Restructured Loans and leases $0
Derivatives$46,774
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Income and Expense (December 31, 1997)
(Dollar figures in thousands)
Total interest income $3,977
Total interest expense $1,512
Net interest income $2,465
Provision for loan and lease losses -$150
Total noninterest income $483
Fiduciary activities $0
Service charges on deposit accounts $314
Trading account gains & fees $0
Additional noninterest income $169
Total noninterest expense $2,271
Salaries and employee benefits $957
Premises and equipment expense $212
Additional noninterest expense $1,102
Pre-tax net operating income $827
Securities gains (losses) $10
Applicable income taxes $367
Income before extraordinary items $470
Extraordinary gains - net $0
Net income attributable to bank $470
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net -$134
Net operating income $0
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Performance and Condition Ratios (December 31, 1997)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.68%
Cost of funding earning assets 2.16%
Net interest margin 3.52%
Noninterest income to earning assets 0.69%
Noninterest expense to earning assets 3.24%
Net operating income to assets 0.52%
Return on assets (ROA) 0.53%
Pretax return on assets 0.94%
Return on equity (ROE) 2.55%
Retained earnings to average equity (YTD only) 2.55%
Net charge-offs to loans -0.32%
Credit loss provision to net charge-offs 111.94%
Efficiency ratio0.00%
Assets per employee$62,178
Cash dividends to net income (YTD only)2.20%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.22%
Noncurrent assets plus other real estate owned to assets 122.05%
Noncurrent loans to loans 0.79%
Net loans and leases to deposits1.82%
Net loans and leases to core deposits 54.17%
Equity capital to assets 57.91%
Core capital (leverage) ratio 24.62%
Tier 1 risk-based capital ratio 8.47%
Total risk-based capital ratio 14.25%
Memoranda
Average assets$16
Average earning assets$89,203
Average equity $18,423
Average loans $70,025
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