Woori America Bank in New York, New York (NY), NJ, CA, PA, VA



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Woori America Bank
GeneralFDIC Certificate #: 24920
Status: Active
Federal Reserve ID: 384018
Bank Holding Company (Regulatory Top Holder): Woori Finance Holdings Co., Ltd. (RSSDID: 3179514, Location: Seoul)
Date Established: January 27, 1984
WWW: http://www.wooriamericabank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 18 (Domestic: 18, Interstate: Yes)
FDIC's unique #: 17274
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: January 27, 1984
Last Structure Change Effective Date: April 03, 2012
Last Structure Change Process Date: April 03, 2012
Last Data Update: April 03, 2012
Data Source Date: April 05, 2012
LocationAddress: 1250 Broadway, New York, NY 10001
County: New York
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: New York City
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): New York, NY (#5600)
Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
Core Based Statistical Area (CBSA): New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
CBSA Metro Statistical Area: New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
Core Based Statistical Division: New York-White Plains-Wayne, NY-NJ (#35644)
Financial SummaryTotal assets: $939.4 mil
Equity capital: $108.8 mil
Deposits held in domestic offices: $822.6 mil
Return on assets (ROA): 0.23% ($2.2 mil)
Quarterly return on assets: -0.71% (-$6.7 mil)
Return on Equity (ROE): 2.10% ($2.3 mil)
Quarterly return on equity: -6.13% (-$6.7 mil)
Net income: $2.3 mil
Quarterly Net income: -$1.7 mil
Pretax return on assets: 0.25% ($2,348.4 mil)
Quarterly Pretax return on assets: -0.76% (-$7,139.3 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)217
Total assets$939,379
Cash and due from depository institutions$168,479
Interest-bearing balances$7,000
Securities$71,964
Federal funds sold & reverse repurchase agreements$2,000
Net loans & leases$677,830
Loan loss allowance $24,255
Trading account assets$0
Bank premises and fixed assets$5,125
Other real estate owned$481
Goodwill and other intangibles$515
All other assets$12,985
Life insurance assets$939,379
Total liabilities and capital$830,530
Total liabilities$822,611
Total deposits$434,380
Interest-bearing deposits$822,611
Deposits held in domestic offices$73
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $7,919
All other liabilities $108,849
Total equity capital$108,849
Total bank equity capital$108,849
Perpetual preferred stock$0
Common stock$122,500
Surplus$7,500
Undivided profits $-21,151
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $23,225
Earning assets $385
Long-term assets (5+ years) $2,846
Average Assets, year-to-date $758,794
Average Assets, quarterly $69,967
Volatile liabilities $994,363
Insider loans $947,402
FHLB advances $604,743
Loans and leases held for sale $928,314
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $108,271
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $14,472
Derivatives$2,076
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $38,201
Total interest expense $5,409
Net interest income $32,792
Provision for loan and lease losses $3,972
Total noninterest income $7,343
Fiduciary activities $0
Service charges on deposit accounts $3,245
Trading account gains & fees $0
Additional noninterest income $4,098
Total noninterest expense $33,714
Salaries and employee benefits $15,556
Premises and equipment expense $7,092
Additional noninterest expense $11,066
Pre-tax net operating income $2,449
Securities gains (losses) $0
Applicable income taxes $170
Income before extraordinary items $2,279
Extraordinary gains - net $0
Net income attributable to bank $2,279
Net charge-offs $0
Cash dividends $2,279
Sale, conversion, retirement of capital stock, net $11,472
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 assets4.69%
Cost of funding earning assets 0.66%
Net interest margin 4.03%
Noninterest income to earning assets 0.90%
Noninterest expense to earning assets 4.14%
Net operating income to assets 0.23%
Return on assets (ROA) 0.23%
Pretax return on assets 0.25%
Return on equity (ROE) 2.10%
Retained earnings to average equity (YTD only) 2.10%
Net charge-offs to loans 1.53%
Credit loss provision to net charge-offs 34.62%
Efficiency ratio0.56%
Assets per employee$83,269
Cash dividends to net income (YTD only)4.33%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.45%
Noncurrent assets plus other real estate owned to assets 104.43%
Noncurrent loans to loans 2.52%
Net loans and leases to deposits3.31%
Net loans and leases to core deposits 82.40%
Equity capital to assets 87.51%
Core capital (leverage) ratio 11.59%
Tier 1 risk-based capital ratio 11.66%
Total risk-based capital ratio 17.90%
Memoranda
Average assets$19
Average earning assets$994,363
Average equity $108,451
Average loans $814,126
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4 California Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1432295South Coast Commercial Bank Branch3540 Wilshire Blvd. 104 Unit, Los Angeles, CA 90010April 15, 1980Full Service Brick and Mortar
15456480Olympic Boulevard Branch2610 W. Olympic Boulevard, Suite #100, Los Angeles, CA 90006November 20, 2006Full Service Brick and Mortar
16460596Buena Park Branch5731 Beach Boulevard, Buena Park, CA 90621Febuary 22, 2007Full Service Brick and Mortar
17462764Garden Grove Branch10120 Garden Grove Boulevard, Garden Grove, CA 92844March 15, 2007Full Service Brick and Mortar
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1 Maryland Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
13442382Wheaton Branch11925 Georgia Avenue, Wheaton, MD 20902April 26, 2005Full Service Retail
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5 New Jersey Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
4257734Fort Lee Branch2053 Lemoine Avenue, Fort Lee, NJ 7024October 27, 1997Full Service Brick and Mortar
5257735Ridgefield Branch321 Broad Avenue, Ridgefield, NJ 7657October 29, 1999Full Service Brick and Mortar
648066Panasia Bank, N.A. Branch183 Main Street, Fort Lee, NJ 7024April 17, 1993Full Service Brick and Mortar
7289874Palisades Park Branch225 Broad Avenue, Palisades Park, NJ 7650March 15, 1995Full Service Brick and Mortar
8289876Closter Branch234 Closter Dock Road, Closter, NJ 7624April 21, 1999Full Service Brick and Mortar
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4 New York Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
017274Woori America Bank1250 Broadway, New York, NY 10001January 27, 1984Full Service Brick and Mortar
1257732Flushing Branch136-88 39th Avenue, New York City, NY 11354June 28, 1985Full Service Brick and Mortar
2257733Woodside Branch43-22 50th Street, New York City, NY 11377December 12, 1991Full Service Brick and Mortar
12427711215-10 Northern Boulevard Branch215-10 Northern Boulevard, Bayside, NY 11361January 27, 2004Full Service Brick and Mortar
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2 Pennsylvania Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
9215496Cheltenham Branch7400 Front Street, Cheltenham, PA 19012July 15, 1998Full Service Brick and Mortar
10215497Elkins Park Branch7300 Old York Rd, Elkins Park, PA 19027May 03, 1999Full Service Brick and Mortar
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2 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
11364359Annandale Branch4231 Markham Street, Units F&G, Annandale, VA 22003July 22, 2002Full Service Brick and Mortar
18468922Centreville Branch13830a-12 Braddock Road, Centreville, VA 20121October 31, 2007Full Service Brick and Mortar
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