FDIC Certificate #: 57570 Status: Active Federal Reserve ID: 3224580 Date Established: December 01, 2003 Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 365652 Numeric code: 23 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Credit Card Institutions: Yes 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: Credit-Card Specialization Date of Deposit Insurance: December 01, 2003 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 2855 East Cottonwood Parkway, Suite 100, Salt Lake City, UT 84121 County: Salt Lake Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: New York FDIC Field Office: Salt Lake City Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160) Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482) Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620) CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $706.9 mil Equity capital: $101.8 mil Deposits held in domestic offices: $352.7 mil Return on assets (ROA): 5.45% ($38.5 mil) Quarterly return on assets: 6.07% ($42.9 mil) Return on Equity (ROE): 37.89% ($38.6 mil) Quarterly return on equity: 40.22% ($41.0 mil) Net income: $33.1 mil Quarterly Net income: $10.0 mil Pretax return on assets: 8.65% ($61,145.1 mil) Quarterly Pretax return on assets: 9.62% ($68,001.9 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
9Total employees (full-time equivalent)
$706,880Total assets
$41,912Cash and due from depository institutions
$0Interest-bearing balances
$7,028Securities
$0Federal funds sold & reverse repurchase agreements
$607,512Net loans & leases
$52,900Loan loss allowance
$0Trading account assets
$20Bank premises and fixed assets
$0Other real estate owned
$13,074Goodwill and other intangibles
$706,880Life insurance assets
$37,334All other assets
$605,088Total liabilities and capital
$352,657Total liabilities
$350,075Total deposits
$352,657Interest-bearing deposits
$100Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$228,972Trading liabilities
$0Other borrowed funds
$23,459Subordinated debt
$101,792All other liabilities
$101,792Total equity capital
$101,792Total bank equity capital
$0Perpetual preferred stock
$1Common stock
$54,228Surplus
$47,563Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$13,294Income earned, not collected on loans
$0Earning assets
$4,957Long-term assets (5+ years)
$614,540Average Assets, year-to-date
$4,520Average Assets, quarterly
$608,138Volatile liabilities
$657,967Insider loans
$676,539FHLB advances
$655,296Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$101,704Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$4,316,478Restructured Loans and leases
$9Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$144,875Total interest income
$10,487Total interest expense
$134,388Net interest income
$50,045Provision for loan and lease losses
$8,710Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$8,710Additional noninterest income
$40,423Total noninterest expense
$1,269Salaries and employee benefits
$101Premises and equipment expense
$39,053Additional noninterest expense
$52,630Pre-tax net operating income
$0Securities gains (losses)
$19,497Applicable income taxes
$33,133Income before extraordinary items
$0Extraordinary gains - net
$33,133Net income attributable to bank
$0Net charge-offs
$33,133Cash dividends
$36,829Sale, conversion, retirement of capital stock, net
$5,000Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
27.92%Yield on earning assets
2.02%Cost of funding earning assets
25.90%Net interest margin
1.68%Noninterest income to earning assets
7.79%Noninterest expense to earning assets
5.45%Net operating income to assets
5.45%Return on assets (ROA)
8.65%Pretax return on assets
37.89%Return on equity (ROE)
32.18%Retained earnings to average equity (YTD only)
6.59%Net charge-offs to loans
135.88%Credit loss provision to net charge-offs
2.79%Efficiency ratio
23,958Assets per employee
78.54%Cash dividends to net income (YTD only)
Condition Ratios (%)
15.09%Loss allowance to loans
8.01%Loss allowance to noncurrent loans
397.92%Noncurrent assets plus other real estate owned to assets
1.88%Noncurrent loans to loans
2.01%Net loans and leases to deposits
172.27%Net loans and leases to core deposits
23528.74%Equity capital to assets
14.40%Core capital (leverage) ratio
15.52%Tier 1 risk-based capital ratio
15.03%Total risk-based capital ratio
Memoranda
$16Average assets
$608,138Average earning assets
$87,436Average equity
$518,920Average loans
Bank Assets Sold and Securitized (December 31, 2009)
Dollar figures in thousands
Principal balance with servicing or other recourse retained
$01-4 family residential loans
$0Home equity lines
$140,000Credit cards receivables
$0Auto loans
$0Other consumer loans
$0Commercial and industrial loans
List of branches
1 Utah Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
365652
World Financial Capital Bank
2855 East Cottonwood Parkway, Suite 100, Salt Lake City, UT 84121
December 01, 2003
Full Service Brick and Mortar
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