Western Security Bank in Billings, Montana (MT)



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Western Security Bank
GeneralFDIC Certificate #: 57248
Status: Active
Federal Reserve ID: 2999845
Bank Holding Company (Regulatory Top Holder): Glacier Bancorp, Inc. (RSSDID: 2003975, Location: Kalispell, MT)
Date Established: May 17, 2001
WWW: http://www.westernsecuritybank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
FDIC's unique #: 360044
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: No
Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
Date of Deposit Insurance: May 17, 2001
Last Structure Change Effective Date: April 19, 2011
Last Structure Change Process Date: June 20, 2011
Last Data Update: June 20, 2011
Data Source Date: April 05, 2012
LocationAddress: 2812 1st Avenue North, Billings, MT 59101
County: Yellowstone
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Billings
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Billings, MT (#880)
Core Based Statistical Area (CBSA): Billings, MT (#13740)
CBSA Metro Statistical Area: Billings, MT (#13740)
History of ChangesChange in Primary Regulatory Agency
Change in Supervisory Agency
Institution Withdraws from FRS (Federal Reserve System)
Financial SummaryTotal assets: $807.6 mil
Equity capital: $92.5 mil
Deposits held in domestic offices: $550.7 mil
Return on assets (ROA): 1.22% ($9.9 mil)
Quarterly return on assets: 1.02% ($8.2 mil)
Return on Equity (ROE): 10.65% ($9.8 mil)
Quarterly return on equity: 8.83% ($8.1 mil)
Net income: $9.6 mil
Quarterly Net income: $2.0 mil
Pretax return on assets: 1.56% ($12,598.9 mil)
Quarterly Pretax return on assets: 1.24% ($10,014.5 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)155
Total assets$807,620
Cash and due from depository institutions$11,255
Interest-bearing balances$52
Securities$464,532
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$265,361
Loan loss allowance $7,320
Trading account assets$0
Bank premises and fixed assets$15,445
Other real estate owned$4,994
Goodwill and other intangibles$23,026
All other assets$23,007
Life insurance assets$807,620
Total liabilities and capital$715,130
Total liabilities$550,725
Total deposits$468,141
Interest-bearing deposits$550,725
Deposits held in domestic offices$88
% insured (estimated)41595.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$117,435
Other borrowed funds $0
Subordinated debt $5,375
All other liabilities $92,490
Total equity capital$92,490
Total bank equity capital$92,490
Perpetual preferred stock$0
Common stock$22
Surplus$80,284
Undivided profits $12,184
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $17,194
Income earned, not collected on loans $448
Earning assets $0
Long-term assets (5+ years) $3,991
Average Assets, year-to-date $729,945
Average Assets, quarterly $258,663
Volatile liabilities $782,700
Insider loans $802,733
FHLB advances $407,896
Loans and leases held for sale $778,974
Unused loan commitments $12,229
Tier 1 (core) risk-based capital $12,229
Tier 2 risk-based capital $64,520
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $55,926
Derivatives$7,149
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $26,814
Total interest expense $5,106
Net interest income $21,708
Provision for loan and lease losses $550
Total noninterest income $7,148
Fiduciary activities $0
Service charges on deposit accounts $2,650
Trading account gains & fees $0
Additional noninterest income $4,498
Total noninterest expense $16,116
Salaries and employee benefits $8,327
Premises and equipment expense $1,475
Additional noninterest expense $6,314
Pre-tax net operating income $12,190
Securities gains (losses) $0
Applicable income taxes $2,622
Income before extraordinary items $9,568
Extraordinary gains - net $0
Net income attributable to bank $9,568
Net charge-offs $0
Cash dividends $9,568
Sale, conversion, retirement of capital stock, net $836
Net operating income $9,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.80%
Cost of funding earning assets 0.72%
Net interest margin 3.08%
Noninterest income to earning assets 1.01%
Noninterest expense to earning assets 2.29%
Net operating income to assets 1.22%
Return on assets (ROA) 1.22%
Pretax return on assets 1.56%
Return on equity (ROE) 10.65%
Retained earnings to average equity (YTD only) 0.63%
Net charge-offs to loans 0.30%
Credit loss provision to net charge-offs 65.79%
Efficiency ratio15.24%
Assets per employee$54,699
Cash dividends to net income (YTD only)5.21%
Condition Ratios (%)
Loss allowance to loans 94.06%
Loss allowance to noncurrent loans 2.68%
Noncurrent assets plus other real estate owned to assets 1633.93%
Noncurrent loans to loans 0.67%
Net loans and leases to deposits0.16%
Net loans and leases to core deposits 48.18%
Equity capital to assets 61.17%
Core capital (leverage) ratio 11.45%
Tier 1 risk-based capital ratio 8.28%
Total risk-based capital ratio 15.82%
Memoranda
Average assets$17
Average earning assets$782,700
Average equity $89,840
Average loans $705,058
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8 Montana Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0360044Western Security Bank2812 1st Avenue North, Billings, MT 59101May 17, 2001Full Service Brick and Mortar
11277312King Avenue Branch2675 King Avenue West, Billings, MT 59102January 01, 1922Full Service Brick and Mortar
13264362Grand Ave Branch2401 Grand Avenue, Billings, MT 59102January 01, 1919Full Service Brick and Mortar
15264364Heights Branch1546 Main Street, Billings, MT 59105January 01, 1919Full Service Brick and Mortar
23266438Lockwood Branch2845 Old Hardin Road, Billings, MT 59101June 19, 1997Full Service Brick and Mortar
28250039Grand & Rehberg Branch2955 Grand Ave., Billings, MT 59102January 01, 1998Full Service Retail
30250041Heights Western Center Branch495 Main Street, Billings, MT 59105January 01, 1998Full Service Brick and Mortar
3114262Laurel Branch20 Montana Avenue, Laurel, MT 59044April 17, 1972Full Service Brick and Mortar
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