Western Financial Bank, National Association - Overview
General
FDIC Certificate #: 31954 Status: Inactive Closing history: Change in Location Acquiring institution:Wachovia Bank, National Association (#33869) Federal Reserve ID: 866073 Date Established: December 13, 1978 WWW:http://www.wfb.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 24 (Interstate: No) OTS Docket #: 7645 FDIC's unique #: 44788 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Savings Association Insurance Fund (SAIF) Insured commercial Banks: Yes FDIC Insured: Yes SAIF Insured: Yes State Chartered: No Date of Deposit Insurance: December 13, 1978 Last Structure Change Effective Date: March 01, 2006 Last Structure Change Process Date: April 28, 2006 Last Data Update: April 28, 2006 Data Source Date: April 05, 2012
Location
Address: 23 Pasteur Road, Irvine, CA 92618 County: Orange Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Charlotte Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Orange County, CA (#5945) Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49) Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348) Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100) CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100) Core Based Statistical Division: Santa Ana-Anaheim-Irvine, CA (#42044)
History of Changes
Merger - Without Assistance
Change in Location
Financial Summary
Total assets: $15,878.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
2,346Total employees (full-time equivalent)
$15,878,043Total assets
$151,392Cash and due from depository institutions
$793Interest-bearing balances
$3,215,921Securities
$275,000Federal funds sold & reverse repurchase agreements
$11,849,290Net loans & leases
$249,391Loan loss allowance
$0Trading account assets
$64,638Bank premises and fixed assets
$259Other real estate owned
$0Goodwill and other intangibles
$31,764Life insurance assets
$321,543All other assets
$15,878,043Total liabilities and capital
$14,657,046Total liabilities
$2,367,163Total deposits
$2,077,856Interest-bearing deposits
$2,367,163Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$11,567,561Other borrowed funds
$296,789Subordinated debt
$425,533All other liabilities
$1,220,997Total equity capital
$1,220,997Total bank equity capital
$1,220,997Perpetual preferred stock
$0Common stock
$1,600Surplus
$426,264Undivided profits
Memoranda
$793,133Noncurrent loans and leases
$821,941Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$65,229Earning assets
$87Long-term assets (5+ years)
$82,766Average Assets, year-to-date
$15,341,004Average Assets, quarterly
$0Volatile liabilities
$14,824,744Insider loans
$15,765,268FHLB advances
$13,118,569Loans and leases held for sale
$0Unused loan commitments
$1,429,406Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$820,736Total unused commitments
$216,249Restructured Loans and leases
$457,154Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$1,271,582Total interest income
$487,502Total interest expense
$784,080Net interest income
$187,198Provision for loan and lease losses
$73,830Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$73,830Additional noninterest income
$301,332Total noninterest expense
$174,133Salaries and employee benefits
$38,431Premises and equipment expense
$88,768Additional noninterest expense
$369,380Pre-tax net operating income
$2Securities gains (losses)
$160,874Applicable income taxes
$208,508Income before extraordinary items
$0Extraordinary gains - net
$208,508Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$161,621Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.89%Yield on earning assets
3.41%Cost of funding earning assets
5.48%Net interest margin
0.52%Noninterest income to earning assets
2.11%Noninterest expense to earning assets
1.41%Net operating income to assets
1.41%Return on assets (ROA)
2.49%Pretax return on assets
18.92%Return on equity (ROE)
18.92%Retained earnings to average equity (YTD only)
1.46%Net charge-offs to loans
115.83%Credit loss provision to net charge-offs
3.44%Efficiency ratio
35,124Assets per employee
6.77%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.06%Loss allowance to noncurrent loans
382.33%Noncurrent assets plus other real estate owned to assets
0.41%Noncurrent loans to loans
0.54%Net loans and leases to deposits
500.57%Net loans and leases to core deposits
1451.84%Equity capital to assets
7.69%Core capital (leverage) ratio
9.09%Tier 1 risk-based capital ratio
11.32%Total risk-based capital ratio
Memoranda
$15Average assets
$14,824,744Average earning assets
$1,102,082Average equity
$14,298,299Average loans
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