Valley National Bank of Cortez in Cortez, Colorado (CO)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 23, 1998

  • Valley National Bank of Cortez in Cortez, Colorado (CO)
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Valley National Bank of Cortez - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Summary
  • Total 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
  • 44Total employees (full-time equivalent)
  • $96,779Total assets
  • $3,178Cash and due from depository institutions
  • $200Interest-bearing balances
  • $28,676Securities
  • $5,356Federal funds sold & reverse repurchase agreements
  • $39,177Net loans & leases
  • $891Loan loss allowance
  • $0Trading account assets
  • $2,092Bank premises and fixed assets
  • $37Other real estate owned
  • $17,099Goodwill and other intangibles
  • $0Life insurance assets
  • $1,164All other assets
  • $96,779Total liabilities and capital
  • $72,955Total liabilities
  • $72,323Total deposits
  • $60,421Interest-bearing deposits
  • $72,323Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $632All other liabilities
  • $23,824Total equity capital
  • $23,824Total bank equity capital
  • $23,824Perpetual preferred stock
  • $0Common stock
  • $1,770Surplus
  • $21,528Undivided profits
  • Memoranda
  • $526Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $730Earning assets
  • $256Long-term assets (5+ years)
  • $525Average Assets, year-to-date
  • $73,409Average Assets, quarterly
  • $21,196Volatile liabilities
  • $89,203Insider loans
  • $95,954FHLB advances
  • $4,666Loans and leases held for sale
  • $345Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $6,933Total unused commitments
  • $0Restructured Loans and leases
  • $46,774Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $3,977Total interest income
  • $1,512Total interest expense
  • $2,465Net interest income
  • -$150Provision for loan and lease losses
  • $483Total noninterest income
  • $0Fiduciary activities
  • $314Service charges on deposit accounts
  • $0Trading account gains & fees
  • $169Additional noninterest income
  • $2,271Total noninterest expense
  • $957Salaries and employee benefits
  • $212Premises and equipment expense
  • $1,102Additional noninterest expense
  • $827Pre-tax net operating income
  • $10Securities gains (losses)
  • $367Applicable income taxes
  • $470Income before extraordinary items
  • $0Extraordinary gains - net
  • $470Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$134Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.68%Yield on earning assets
  • 2.16%Cost of funding earning assets
  • 3.52%Net interest margin
  • 0.69%Noninterest income to earning assets
  • 3.24%Noninterest expense to earning assets
  • 0.52%Net operating income to assets
  • 0.53%Return on assets (ROA)
  • 0.94%Pretax return on assets
  • 2.55%Return on equity (ROE)
  • 2.55%Retained earnings to average equity (YTD only)
  • -0.32%Net charge-offs to loans
  • 111.94%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 62,178Assets per employee
  • 2.20%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.22%Loss allowance to noncurrent loans
  • 122.05%Noncurrent assets plus other real estate owned to assets
  • 0.79%Noncurrent loans to loans
  • 1.82%Net loans and leases to deposits
  • 54.17%Net loans and leases to core deposits
  • 57.91%Equity capital to assets
  • 24.62%Core capital (leverage) ratio
  • 8.47%Tier 1 risk-based capital ratio
  • 14.25%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $89,203Average earning assets
  • $18,423Average equity
  • $70,025Average loans

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