Washington State Bank, National Association - Overview
General
FDIC Certificate #: 33701 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Heritage Bank (#29012) Federal Reserve ID: 1992513 Date Established: October 01, 1992 WWW:http://www.wastatebank.com 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) OTS Docket #: 12782 FDIC's unique #: 47809 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: October 01, 1992 Last Structure Change Effective Date: June 01, 2006 Last Structure Change Process Date: June 22, 2006 Last Data Update: June 22, 2006 Data Source Date: April 05, 2012
Location
Address: 32303 Pacific Highway South, Federal Way, WA 98003 County: King Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Seattle Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Seattle-Bellevue-Everett, WA (#7600) Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91) Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660) CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660) Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
Financial Summary
Total assets: $55.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2005)
Dollar figures in thousands
14Total employees (full-time equivalent)
$57,197Total assets
$4,453Cash and due from depository institutions
$2,745Interest-bearing balances
$5,065Securities
$2,285Federal funds sold & reverse repurchase agreements
$44,130Net loans & leases
$560Loan loss allowance
$0Trading account assets
$82Bank premises and fixed assets
$301Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$881All other assets
$57,197Total liabilities and capital
$51,209Total liabilities
$47,830Total deposits
$39,727Interest-bearing deposits
$47,830Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,000Other borrowed funds
$0Subordinated debt
$379All other liabilities
$5,988Total equity capital
$5,988Total bank equity capital
$5,988Perpetual preferred stock
$0Common stock
$418Surplus
$4,273Undivided profits
Memoranda
$1,297Noncurrent loans and leases
$5,349Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$238Average Assets, year-to-date
$54,225Average Assets, quarterly
$6,652Volatile liabilities
$57,479Insider loans
$57,638FHLB advances
$8,124Loans and leases held for sale
$1,769Unused loan commitments
$3,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,349Total unused commitments
$0Restructured Loans and leases
$560Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$4,104Total interest income
$1,126Total interest expense
$2,978Net interest income
-$28Provision for loan and lease losses
$199Total noninterest income
$0Fiduciary activities
$151Service charges on deposit accounts
$0Trading account gains & fees
$48Additional noninterest income
$2,196Total noninterest expense
$909Salaries and employee benefits
$389Premises and equipment expense
$898Additional noninterest expense
$1,009Pre-tax net operating income
-$9Securities gains (losses)
$332Applicable income taxes
$668Income before extraordinary items
$0Extraordinary gains - net
$668Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$52Sale, conversion, retirement of capital stock, net
$90Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.51%Yield on earning assets
2.06%Cost of funding earning assets
5.45%Net interest margin
0.36%Noninterest income to earning assets
4.02%Noninterest expense to earning assets
1.17%Net operating income to assets
1.16%Return on assets (ROA)
1.74%Pretax return on assets
11.70%Return on equity (ROE)
10.12%Retained earnings to average equity (YTD only)
0.12%Net charge-offs to loans
-53.85%Credit loss provision to net charge-offs
18.87%Efficiency ratio
69,122Assets per employee
4.09%Cash dividends to net income (YTD only)
Condition Ratios (%)
13.47%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.53%Noncurrent loans to loans
0.00%Net loans and leases to deposits
92.26%Net loans and leases to core deposits
108.41%Equity capital to assets
10.47%Core capital (leverage) ratio
10.65%Tier 1 risk-based capital ratio
13.50%Total risk-based capital ratio
Memoranda
$15Average assets
$57,479Average earning assets
$5,709Average equity
$54,667Average loans
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