Wachovia Bank, National Association in Charlotte, North Carolina (NC)



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Wachovia Bank, National Association
GeneralFDIC Certificate #: 33869
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Wells Fargo Bank, National Association (#3511)
Federal Reserve ID: 484422
Date Established: January 11, 1994
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 3312 (Interstate: No)
FDIC's unique #: 48177
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: January 11, 1994
Last Structure Change Effective Date: March 20, 2010
Last Structure Change Process Date: April 01, 2010
Last Data Update: April 01, 2010
Data Source Date: April 05, 2012
LocationAddress: 301 South College Street, Charlotte, NC 28288
County: Mecklenburg
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Charlotte
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Charlotte-Gastonia-Rock Hill, NC-SC (#1520)
Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
Core Based Statistical Area (CBSA): Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
CBSA Metro Statistical Area: Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
Financial SummaryTotal assets: $510,083.0 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)
Total employees (full-time equivalent)79,791
Total assets$510,083,000
Cash and due from depository institutions$12,602,000
Interest-bearing balances$2,659,000
Securities$69,899,000
Federal funds sold & reverse repurchase agreements$2,554,000
Net loans & leases$327,474,000
Loan loss allowance $8,861,000
Trading account assets$24,189,000
Bank premises and fixed assets$4,013,000
Other real estate owned$1,084,000
Goodwill and other intangibles$21,852,000
All other assets$46,416,000
Life insurance assets$12,998,000
Total liabilities and capital$510,083,000
Total liabilities$441,054,000
Total deposits$355,574,000
Interest-bearing deposits$282,579,000
Deposits held in domestic offices$321,167,000
% insured (estimated)57.65%
Federal funds purchased & repurchase agreements $15,997,000
Trading liabilities$5,592,000
Other borrowed funds $29,364,000
Subordinated debt $16,917,000
All other liabilities $17,610,000
Total equity capital$69,029,000
Total bank equity capital$69,029,000
Perpetual preferred stock$67,340,000
Common stock$0
Surplus$455,000
Undivided profits $61,891,000
Memoranda
Noncurrent loans and leases $4,994,000
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $173,644,000
Income earned, not collected on loans $1,689,000
Earning assets $21,626,000
Long-term assets (5+ years) $510,000
Average Assets, year-to-date $2,531,000
Average Assets, quarterly $412,394,000
Volatile liabilities $143,706,000
Insider loans $560,752,400
FHLB advances $514,236,000
Loans and leases held for sale $91,319,000
Unused loan commitments $18,000
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $2,446,901,000
Total risk weighted assets $3,008,000
Total unused commitments $173,644,000
Restructured Loans and leases $1,213,000
Derivatives$20,782,000
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $20,388,000
Total interest expense $3,649,000
Net interest income $16,739,000
Provision for loan and lease losses $5,926,000
Total noninterest income $8,736,000
Fiduciary activities $613,000
Service charges on deposit accounts $2,526,000
Trading account gains & fees $752,000
Additional noninterest income $4,845,000
Total noninterest expense $14,252,000
Salaries and employee benefits $6,495,000
Premises and equipment expense $1,937,000
Additional noninterest expense $5,820,000
Pre-tax net operating income $5,297,000
Securities gains (losses) $383,000
Applicable income taxes $1,365,000
Income before extraordinary items $4,315,000
Extraordinary gains - net $0
Net income attributable to bank $4,247,000
Net charge-offs $68,000
Cash dividends $4,315,000
Sale, conversion, retirement of capital stock, net $4,369,000
Net operating income $1,750,000
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.42%
Cost of funding earning assets 0.79%
Net interest margin 3.63%
Noninterest income to earning assets 1.89%
Noninterest expense to earning assets 3.09%
Net operating income to assets 0.72%
Return on assets (ROA) 0.76%
Pretax return on assets 1.00%
Return on equity (ROE) 6.66%
Retained earnings to average equity (YTD only) 3.91%
Net charge-offs to loans 1.21%
Credit loss provision to net charge-offs 135.64%
Efficiency ratio2.57%
Assets per employee$47,564
Cash dividends to net income (YTD only)6.39%
Condition Ratios (%)
Loss allowance to loans 41.21%
Loss allowance to noncurrent loans 2.63%
Noncurrent assets plus other real estate owned to assets 40.97%
Noncurrent loans to loans 4.45%
Net loans and leases to deposits6.43%
Net loans and leases to core deposits 92.10%
Equity capital to assets 110.43%
Core capital (leverage) ratio 13.20%
Tier 1 risk-based capital ratio 8.23%
Total risk-based capital ratio 8.97%
Memoranda
Average assets$14
Average earning assets$560,752,400
Average equity $63,810,800
Average loans $461,323,200
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Total Fiduciary and Related Assets (December 31, 2009)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$150,257,000
Number of Accounts1
Personal trust and agency accounts$58,837,000
Employee benefit-defined contribution accounts$29,077,000
Employee benefit-defined benefit accounts$184,000
Other retirement accounts$1,945,000
Corporate trust and agency accounts$4,863,000
Investment management agency accounts$9,000
Other fiduciary accounts$15,962,000
Fiduciary accounts held in foreign offices$6,797,000
Non-managed Assets$0
Number of Accounts58222
Personal trust and agency accounts$341,000
Employee benefit-defined contribution accounts$1,594,000
Employee benefit-defined benefit accounts$6,766,000
Other retirement accounts$91,420,000
Corporate trust and agency accounts$3,037,000
Other fiduciary accounts$48,641,000
Fiduciary accounts held in foreign offices$14,208,000
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Bank Assets Sold and Securitized (December 31, 2009)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $2,006,000
Home equity lines$4,752,000
Credit cards receivables$0
Auto loans$2,471,000
Other consumer loans$2,544,000
Commercial and industrial loans$7,000
All other loans and all leases $99,615,000
Past due loan amounts 30-89 days (included in principal balance)
1-4 family residential loans$74,000
Home equity lines $66,000
Credit cards receivables $0
Auto loans $93,000
Other consumer loans$124,000
Commercial and industrial loans$0
All other loans and all leases$5,161,000
Past due loan amounts 90 days or more (included in principal balance)
1-4 family residential loans$109,000
Home equity lines $112,000
Credit cards receivables $0
Auto loans $7,000
Other consumer loans$88,000
Commercial and industrial loans$0
All other loans and all leases$5,418,000
Charge-offs on Assets Sold and Securitized (included in principal balance and YTD only)
1-4 family residential loans$32,000
Home equity lines $96,000
Credit cards receivables $0
Auto loans $230,000
Other consumer loans$0
Commercial and industrial loans$0
All other loans and all leases$175,000
Recoveries on Assets Sold and Securitized (included in principal balance and YTD only)
1-4 family residential loans$0
Home equity lines $0
Credit cards receivables $0
Auto loans $0
Other consumer loans$0
Commercial and industrial loans$0
All other loans and all leases$9,000
Established by other institutions
1-4 family residential loans $0
Home equity lines$0
Credit cards receivables$0
Auto loans$2,471,000
Other consumer loans$0
Commercial and industrial loans$0
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