World Financial Capital Bank in Salt Lake City, Utah (UT)
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Table of contents:
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 9 |
| Total assets | $706,880 |
| Cash and due from depository institutions | $41,912 |
| Interest-bearing balances | $0 |
| Securities | $7,028 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $607,512 |
| Loan loss allowance | $52,900 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $20 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $13,074 |
| All other assets | $37,334 |
| Life insurance assets | $706,880 |
| Total liabilities and capital | $605,088 |
| Total liabilities | $352,657 |
| Total deposits | $350,075 |
| Interest-bearing deposits | $352,657 |
| Deposits held in domestic offices | $100 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $228,972 |
| Other borrowed funds | $0 |
| Subordinated debt | $23,459 |
| All other liabilities | $101,792 |
| Total equity capital | $101,792 |
| Total bank equity capital | $101,792 |
| Perpetual preferred stock | $0 |
| Common stock | $1 |
| Surplus | $54,228 |
| Undivided profits | $47,563 |
| 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 | $13,294 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $4,957 |
| Average Assets, year-to-date | $614,540 |
| Average Assets, quarterly | $4,520 |
| Volatile liabilities | $608,138 |
| Insider loans | $657,967 |
| FHLB advances | $676,539 |
| Loans and leases held for sale | $655,296 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $101,704 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $4,316,478 |
| Derivatives | $9 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $144,875 |
| Total interest expense | $10,487 |
| Net interest income | $134,388 |
| Provision for loan and lease losses | $50,045 |
| Total noninterest income | $8,710 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $8,710 |
| Total noninterest expense | $40,423 |
| Salaries and employee benefits | $1,269 |
| Premises and equipment expense | $101 |
| Additional noninterest expense | $39,053 |
| Pre-tax net operating income | $52,630 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $19,497 |
| Income before extraordinary items | $33,133 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $33,133 |
| Net charge-offs | $0 |
| Cash dividends | $33,133 |
| Sale, conversion, retirement of capital stock, net | $36,829 |
| Net operating income | $5,000 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 27.92% |
| Cost of funding earning assets | 2.02% |
| Net interest margin | 25.90% |
| Noninterest income to earning assets | 1.68% |
| Noninterest expense to earning assets | 7.79% |
| Net operating income to assets | 5.45% |
| Return on assets (ROA) | 5.45% |
| Pretax return on assets | 8.65% |
| Return on equity (ROE) | 37.89% |
| Retained earnings to average equity (YTD only) | 32.18% |
| Net charge-offs to loans | 6.59% |
| Credit loss provision to net charge-offs | 135.88% |
| Efficiency ratio | 2.79% |
| Assets per employee | $23,958 |
| Cash dividends to net income (YTD only) | 78.54% |
| Condition Ratios (%) | |
| Loss allowance to loans | 15.09% |
| Loss allowance to noncurrent loans | 8.01% |
| Noncurrent assets plus other real estate owned to assets | 397.92% |
| Noncurrent loans to loans | 1.88% |
| Net loans and leases to deposits | 2.01% |
| Net loans and leases to core deposits | 172.27% |
| Equity capital to assets | 23528.74% |
| Core capital (leverage) ratio | 14.40% |
| Tier 1 risk-based capital ratio | 15.52% |
| Total risk-based capital ratio | 15.03% |
| Memoranda | |
| Average assets | $16 |
| Average earning assets | $608,138 |
| Average equity | $87,436 |
| Average loans | $518,920 |
| Bank Assets Sold and Securitized (December 31, 2009) (Dollar figures in thousands) | |
| Principal balance with servicing or other recourse retained | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $140,000 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| 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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Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.