Wilshire State Bank in Los Angeles, California (CA), NY, TX, NJ



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Wilshire State Bank
GeneralFDIC Certificate #: 23301
Status: Active
Federal Reserve ID: 382667
Bank Holding Company (Regulatory Top Holder): Wilshire Bancorp, Inc. (RSSDID: 3248513, Location: Los Angeles, CA)
Date Established: December 30, 1980
WWW: http://www.wilshirebank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 24 (Domestic: 24, Interstate: Yes)
FDIC's unique #: 16333
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: Commercial Lending Specialization
Date of Deposit Insurance: December 30, 1980
Last Structure Change Effective Date: Febuary 10, 2012
Last Structure Change Process Date: Febuary 10, 2012
Last Data Update: Febuary 10, 2012
Data Source Date: April 05, 2012
LocationAddress: 3200 Wilshire Boulevard, Los Angeles, CA 90010
County: Los Angeles
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Los Angeles (West)
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Los Angeles-Long Beach, CA (#4480)
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: Los Angeles-Long Beach-Glendale, CA (#31084)
Financial SummaryTotal assets: $2,691.4 mil
Equity capital: $375.1 mil
Deposits held in domestic offices: $2,212.8 mil
Return on assets (ROA): -1.04% (-$28.0 mil)
Quarterly return on assets: 0.93% ($25.0 mil)
Return on Equity (ROE): -8.73% (-$32.7 mil)
Quarterly return on equity: 6.70% ($25.1 mil)
Net income: -$28.6 mil
Quarterly Net income: $6.2 mil
Pretax return on assets: 0.22% ($5,921.0 mil)
Quarterly Pretax return on assets: 2.12% ($57,057.3 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)372
Total assets$2,691,384
Cash and due from depository institutions$155,249
Interest-bearing balances$80,277
Securities$320,131
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$2,048,504
Loan loss allowance $102,982
Trading account assets$0
Bank premises and fixed assets$12,335
Other real estate owned$8,222
Goodwill and other intangibles$16,752
All other assets$130,191
Life insurance assets$2,691,384
Total liabilities and capital$2,316,288
Total liabilities$2,212,819
Total deposits$1,690,842
Interest-bearing deposits$2,212,819
Deposits held in domestic offices$65
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$60,000
Other borrowed funds $10,000
Subordinated debt $33,469
All other liabilities $375,096
Total equity capital$375,096
Total bank equity capital$375,096
Perpetual preferred stock$0
Common stock$221,184
Surplus$24,343
Undivided profits $129,569
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $54,720
Income earned, not collected on loans $60,493
Earning assets $12,809
Long-term assets (5+ years) $8,118
Average Assets, year-to-date $2,448,912
Average Assets, quarterly $134,300
Volatile liabilities $2,759,350
Insider loans $2,684,065
FHLB advances $1,880,523
Loans and leases held for sale $2,657,129
Unused loan commitments $19,888
Tier 1 (core) risk-based capital $12,110
Tier 2 risk-based capital $359,464
Total risk weighted assets $0
Total unused commitments $7,778
Restructured Loans and leases $223,676
Derivatives$24,396
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $130,017
Total interest expense $21,141
Net interest income $108,876
Provision for loan and lease losses $59,603
Total noninterest income $19,145
Fiduciary activities $0
Service charges on deposit accounts $12,700
Trading account gains & fees $0
Additional noninterest income $6,445
Total noninterest expense $62,342
Salaries and employee benefits $27,713
Premises and equipment expense $7,766
Additional noninterest expense $26,863
Pre-tax net operating income $6,076
Securities gains (losses) $99
Applicable income taxes $34,786
Income before extraordinary items -$28,611
Extraordinary gains - net $0
Net income attributable to bank -$28,611
Net charge-offs $0
Cash dividends -$28,611
Sale, conversion, retirement of capital stock, net $67,573
Net operating income $0
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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 0.84%
Net interest margin 4.35%
Noninterest income to earning assets 0.76%
Noninterest expense to earning assets 2.49%
Net operating income to assets -1.04%
Return on assets (ROA) -1.04%
Pretax return on assets 0.22%
Return on equity (ROE) -8.73%
Retained earnings to average equity (YTD only) -8.73%
Net charge-offs to loans 3.01%
Credit loss provision to net charge-offs 88.21%
Efficiency ratio0.97%
Assets per employee$48,443
Cash dividends to net income (YTD only)7.23%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.79%
Noncurrent assets plus other real estate owned to assets 170.24%
Noncurrent loans to loans 2.55%
Net loans and leases to deposits2.81%
Net loans and leases to core deposits 92.57%
Equity capital to assets 112.71%
Core capital (leverage) ratio 13.94%
Tier 1 risk-based capital ratio 13.53%
Total risk-based capital ratio 19.12%
Memoranda
Average assets$20
Average earning assets$2,759,350
Average equity $327,760
Average loans $2,504,279
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18 California Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016333Wilshire State Bank3200 Wilshire Boulevard, Los Angeles, CA 90010December 30, 1980Full Service Brick and Mortar
2247797Western Branch841 South Western Avenue, Los Angeles, CA 90005July 07, 1983Full Service Brick and Mortar
3256181Northridge Branch8401 Reseda Boulevard, Northridge, CA 91324October 03, 1989Full Service Brick and Mortar
5256183Cerritos Branch17500 Carmenita Road, Cerritos, CA 90703November 19, 1997Full Service Brick and Mortar
6256184Huntington Park Branch6350 Pacific Boulevard, Huntington Park, CA 90255September 15, 1999Full Service Brick and Mortar
7360956Rowland Heights Branch19765 E. Colima Road, Rowland Heights, CA 91748April 02, 2001Full Service Brick and Mortar
8360957Gardena Branch15435 S. Western Ave., Gardena, CA 90249December 04, 2000Full Service Brick and Mortar
10419783Mid Wilshire Branch3832 Wilshire Boulevard, Los Angeles, CA 90010June 30, 2003Full Service Brick and Mortar
11422560Irvine Branch14561 Red Hill Ave, Tustin, CA 92780September 05, 2003Full Service Brick and Mortar
12426555Fashion Town Branch1300 South San Pedro Street, Los Angeles, CA 90021March 08, 2004Full Service Brick and Mortar
13432681Fullerton Branch5254 Beach Boulevard, Buena Park, CA 90621October 26, 2004Full Service Brick and Mortar
20453759Garden Grove Branch9672 Garden Grove Blvd, Garden Grove, CA 92844August 15, 2005Full Service Brick and Mortar
21454310Rancho Cucamonga Branch8045 Archibald Avenue #100, Rancho Cucamonga, CA 91730July 24, 2006Full Service Brick and Mortar
26364416Downtown Office401 E. 11th Street, Suite 211, Los Angeles, CA 90015August 05, 2002Full Service Brick and Mortar
28453554Torrance Branch2424 Sepulveda Blvd., #a, Torrance, CA 90501May 01, 2006Full Service Brick and Mortar
30492553City Center Branch3500 W. 6th St., Los Angeles, CA 90020August 01, 2008Full Service Brick and Mortar
31494787Olympic Branch2140 W. Olympic Boulevard, Los Angeles, CA 90006June 26, 2009Full Service Retail
33510754Van Nuys Branch9700 Woodman Ave. Suite A-6, Arleta, CA 91331Febuary 03, 2010Full Service Brick and Mortar
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1 New Jersey Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
22444514Fort Lee Branch215 Main Street, Fort Lee, NJ 7024April 11, 2005Full Service Brick and Mortar
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3 New York Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1859049Manhattan Branch11 West 32nd Street, New York, NY 10001March 19, 1998Full Service Brick and Mortar
24479863Bayside Branch21016 Northern Blvd, Bayside, NY 11361July 09, 2007Full Service Brick and Mortar
29492502Flushing Branch15024 Northern Blvd, Flushing, NY 11354March 16, 2009Full Service Brick and Mortar
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2 Texas Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1435810Dallas Branch2237 Royal Ln, Dallas, TX 75229July 14, 1986Full Service Brick and Mortar
34510755Fort Worth Branch7553 Boulevard 26, North Richland Hills, TX 76180May 25, 2009Full Service Brick and Mortar
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