Wachovia Card Services, National Association - Overview
General
FDIC Certificate #: 58496 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Wells Fargo Bank, National Association (#3511) Federal Reserve ID: 3550131 Date Established: January 01, 2007 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) FDIC's unique #: 454516 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 01, 2007 Last Structure Change Effective Date: April 10, 2010 Last Structure Change Process Date: April 19, 2010 Last Data Update: April 19, 2010 Data Source Date: April 05, 2012
Location
Address: 171 17th Street Nw, 100 Bldg, Atlanta, GA 30363 County: Fulton Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Atlanta Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Atlanta, GA (#520) Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122) Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060) CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
Financial Summary
Total assets: $2,983.2 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
12Total employees (full-time equivalent)
$3,148,296Total assets
$3,929Cash and due from depository institutions
$3,929Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$2,869,058Net loans & leases
$323,124Loan loss allowance
$0Trading account assets
$0Bank premises and fixed assets
$0Other real estate owned
$144,900Goodwill and other intangibles
$0Life insurance assets
$130,409All other assets
$3,148,296Total liabilities and capital
$2,024,590Total liabilities
$676Total deposits
$548Interest-bearing deposits
$676Deposits held in domestic offices
55.92%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,821,347Other borrowed funds
$0Subordinated debt
$202,567All other liabilities
$1,123,706Total equity capital
$1,123,706Total bank equity capital
$1,123,706Perpetual preferred stock
$0Common stock
$0Surplus
$1,131,502Undivided profits
Memoranda
$-7,796Noncurrent loans and leases
$12,529,796Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$85,188Earning assets
$0Long-term assets (5+ years)
$14,379Average Assets, year-to-date
$2,872,987Average Assets, quarterly
$0Volatile liabilities
$2,875,087Insider loans
$3,064,513FHLB advances
$1,821,895Loans and leases held for sale
$365Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$12,529,796Total unused commitments
$0Restructured Loans and leases
$42,738Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$316,871Total interest income
$2,592Total interest expense
$314,279Net interest income
$558,599Provision for loan and lease losses
$304,499Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$304,499Additional noninterest income
$72,083Total noninterest expense
$2,592Salaries and employee benefits
$2,393Premises and equipment expense
$67,098Additional noninterest expense
-$11,904Pre-tax net operating income
$0Securities gains (losses)
-$4,108Applicable income taxes
-$7,796Income before extraordinary items
$0Extraordinary gains - net
-$7,796Net income attributable to bank
$0Net charge-offs
-$7,796Cash dividends
$235,475Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
12.22%Yield on earning assets
0.10%Cost of funding earning assets
12.12%Net interest margin
11.74%Noninterest income to earning assets
2.78%Noninterest expense to earning assets
-0.27%Net operating income to assets
-0.27%Return on assets (ROA)
-0.41%Pretax return on assets
-0.70%Return on equity (ROE)
-0.70%Retained earnings to average equity (YTD only)
8.48%Net charge-offs to loans
237.22%Credit loss provision to net charge-offs
2.32%Efficiency ratio
9,047Assets per employee
262.36%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
10.12%Loss allowance to noncurrent loans
379.31%Noncurrent assets plus other real estate owned to assets
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