Western Community Bank in Cedaredge, Colorado (CO)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 29, 1997

Western Community Bank in Cedaredge, Colorado (CO)
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Western Community Bank - Overview

General
FDIC Certificate #: 3002
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: WestStar Bank (#22572)
Federal Reserve ID: 774552
Date Established: January 01, 1912
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 1901
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: November 29, 1997
Last Structure Change Process Date: December 30, 1997
Last Data Update: December 30, 1997
Data Source Date: April 05, 2012
Location
Address: 105 South Grand Mesa Drive, Cedaredge, CO 81413
County: Delta
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $44.5 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$38Total assets
$42,815Cash and due from depository institutions
$2,648Interest-bearing balances
$0Securities
$5,681Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$32,023Loan loss allowance
$151Trading account assets
$0Bank premises and fixed assets
$1,648Other real estate owned
$234Goodwill and other intangibles
$486Life insurance assets
$95All other assets
$0Total liabilities and capital
$42,815Total liabilities
$39,823Total deposits
$38,389Interest-bearing deposits
$30,693Deposits held in domestic offices
38389.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$1,070Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$364Total equity capital
$364Total bank equity capital
$2,992Perpetual preferred stock
$0Common stock
$180Surplus
$1,742Undivided profits
Memoranda
$1,070Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$213Income earned, not collected on loans
$244Earning assets
$37,704Long-term assets (5+ years)
$3,096Average Assets, year-to-date
$39,125Average Assets, quarterly
$42,115Volatile liabilities
$5,189Insider loans
$311FHLB advances
$0Loans and leases held for sale
$1,386Unused loan commitments
$1,875Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,897Total risk weighted assets
$30,208Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$3,331Total interest expense
$1,223Net interest income
$2,108Provision for loan and lease losses
$80Total noninterest income
$686Fiduciary activities
$0Service charges on deposit accounts
$419Trading account gains & fees
$0Additional noninterest income
$267Total noninterest expense
$2,134Salaries and employee benefits
$1,162Premises and equipment expense
$308Additional noninterest expense
$664Pre-tax net operating income
$580Securities gains (losses)
$0Applicable income taxes
$148Income before extraordinary items
$432Extraordinary gains - net
$0Net income attributable to bank
$432Net charge-offs
$76Cash dividends
$141Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
9.53%Cost of funding earning assets
3.50%Net interest margin
6.03%Noninterest income to earning assets
1.96%Noninterest expense to earning assets
6.10%Net operating income to assets
1.10%Return on assets (ROA)
1.10%Pretax return on assets
1.48%Return on equity (ROE)
15.98%Retained earnings to average equity (YTD only)
10.76%Net charge-offs to loans
0.26%Credit loss provision to net charge-offs
105.26%Efficiency ratio
75,841Assets per employee
1.13%Cash dividends to net income (YTD only)
Condition Ratios (%)
32.64%Loss allowance to loans
0.47%Loss allowance to noncurrent loans
70.89%Noncurrent assets plus other real estate owned to assets
1.04%Noncurrent loans to loans
0.66%Net loans and leases to deposits
83.42%Net loans and leases to core deposits
93.44%Equity capital to assets
6.99%Core capital (leverage) ratio
6.97%Tier 1 risk-based capital ratio
9.59%Total risk-based capital ratio
Memoranda
$10Average assets
$39,125Average earning assets
$2,704Average equity
$34,965Average loans

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