World Financial Capital Bank in Salt Lake City, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • World Financial Capital Bank in Salt Lake City, Utah (UT)
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World Financial Capital Bank - Overview

  • General
  • 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
  • NoIDNameAddressEstablishedService TypeMap
    0365652World Financial Capital Bank2855 East Cottonwood Parkway, Suite 100, Salt Lake City, UT 84121December 01, 2003Full Service Brick and Mortar

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