Washington State Bank, National Association in Federal Way, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 01, 2006

  • Washington State Bank, National Association in Federal Way, Washington (WA)
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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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