West Gate Bank in Lincoln, Nebraska (NE)



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West Gate Bank routing number info

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West Gate Bank
GeneralFDIC Certificate #: 19850
Status: Active
Federal Reserve ID: 207050
Bank Holding Company (Regulatory Top Holder): West Gate Banshares, Inc. (RSSDID: 1061736, Location: Lincoln, NE)
Date Established: September 03, 1968
WWW: http://www.westgatebank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Domestic: 7, Interstate: No)
OTS Docket #: 13851
FDIC's unique #: 13643
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: September 03, 1968
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 6003 Old Cheney Road, Suite 100, Lincoln, NE 68516
County: Lancaster
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Omaha
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Lincoln, NE (#4360)
Core Based Statistical Area (CBSA): Lincoln, NE (#30700)
CBSA Metro Statistical Area: Lincoln, NE (#30700)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $317.2 mil
Equity capital: $30.6 mil
Deposits held in domestic offices: $250.1 mil
Return on assets (ROA): 1.36% ($4.3 mil)
Quarterly return on assets: 1.72% ($5.5 mil)
Return on Equity (ROE): 14.28% ($4.4 mil)
Quarterly return on equity: 17.84% ($5.5 mil)
Net income: $4.1 mil
Quarterly Net income: $1.3 mil
Pretax return on assets: 1.36% ($4,313.8 mil)
Quarterly Pretax return on assets: 1.72% ($5,455.7 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)107
Total assets$317,191
Cash and due from depository institutions$44,520
Interest-bearing balances$40,402
Securities$42,031
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$204,040
Loan loss allowance $4,172
Trading account assets$0
Bank premises and fixed assets$14,198
Other real estate owned$1,428
Goodwill and other intangibles$2,845
All other assets$8,129
Life insurance assets$317,191
Total liabilities and capital$286,617
Total liabilities$250,117
Total deposits$186,199
Interest-bearing deposits$250,117
Deposits held in domestic offices$85
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$31,336
Other borrowed funds $0
Subordinated debt $5,164
All other liabilities $30,574
Total equity capital$30,574
Total bank equity capital$30,574
Perpetual preferred stock$0
Common stock$515
Surplus$15,085
Undivided profits $14,974
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,401
Income earned, not collected on loans $5,599
Earning assets $0
Long-term assets (5+ years) $1,151
Average Assets, year-to-date $286,473
Average Assets, quarterly $47,428
Volatile liabilities $302,748
Insider loans $309,392
FHLB advances $268,690
Loans and leases held for sale $309,172
Unused loan commitments $390
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $29,905
Total risk weighted assets $390
Total unused commitments $0
Restructured Loans and leases $59,485
Derivatives$239
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,168
Total interest expense $3,449
Net interest income $10,719
Provision for loan and lease losses $1,758
Total noninterest income $5,706
Fiduciary activities $0
Service charges on deposit accounts $1,423
Trading account gains & fees $0
Additional noninterest income $4,283
Total noninterest expense $10,540
Salaries and employee benefits $6,126
Premises and equipment expense $955
Additional noninterest expense $3,459
Pre-tax net operating income $4,127
Securities gains (losses) -$23
Applicable income taxes $0
Income before extraordinary items $4,104
Extraordinary gains - net $0
Net income attributable to bank $4,104
Net charge-offs $0
Cash dividends $4,104
Sale, conversion, retirement of capital stock, net $1,111
Net operating income $1,200
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.19%
Cost of funding earning assets 1.26%
Net interest margin 3.93%
Noninterest income to earning assets 2.09%
Noninterest expense to earning assets 3.86%
Net operating income to assets 1.36%
Return on assets (ROA) 1.36%
Pretax return on assets 1.36%
Return on equity (ROE) 14.28%
Retained earnings to average equity (YTD only) 10.10%
Net charge-offs to loans 0.51%
Credit loss provision to net charge-offs 158.24%
Efficiency ratio5.30%
Assets per employee$61,212
Cash dividends to net income (YTD only)2.96%
Condition Ratios (%)
Loss allowance to loans 29.24%
Loss allowance to noncurrent loans 2.00%
Noncurrent assets plus other real estate owned to assets 74.51%
Noncurrent loans to loans 2.22%
Net loans and leases to deposits2.69%
Net loans and leases to core deposits 81.58%
Equity capital to assets 90.61%
Core capital (leverage) ratio 9.64%
Tier 1 risk-based capital ratio 9.67%
Total risk-based capital ratio 11.13%
Memoranda
Average assets$12
Average earning assets$302,748
Average equity $28,744
Average loans $273,027
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7 Nebraska Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
013643West Gate Bank6003 Old Cheney Road, Suite 100, Lincoln, NE 68516September 03, 1968Full Service Brick and Mortar
1249686South Street Branch2037 South 17th Street, Lincoln, NE 68502May 20, 1975Full Service Brick and Mortar
215929Southridge Branch5555 South 27th Street, Lincoln, NE 68512Febuary 20, 1979Full Service Brick and Mortar
3249687Cornhusker Branch2662 Cornhusker Highway, Suite 3, Lincoln, NE 68521September 28, 1988Full Service Brick and Mortar
5365591Eagle Crest Branch8400 Eagle Crest Rd, Lincoln, NE 68505December 02, 2002Full Service Brick and Mortar
6428007West O Branch1204 West O St, Lincoln, NE 68528May 01, 2004Full Service Brick and Mortar
7458849Midtown Branch4955 O St, Lincoln, NE 68510Febuary 15, 2007Full Service Brick and Mortar
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