World Financial Network Bank in Wilmington, Delaware (DE)
Overview, Financial Summary, Detailed Financial Reports, Branches

World Financial Network Bank - Overview

  • General
  • FDIC Certificate #: 27499
    Status: Active
    Federal Reserve ID: 1391778
    Date Established: May 01, 1989
    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 #: 40232
    Numeric code: 21
    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: May 01, 1989
    Last Structure Change Effective Date: August 01, 2011
    Last Structure Change Process Date: August 15, 2011
    Last Data Update: August 15, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: One Righter Parkway, Wilmington, DE 19803
    County: New Castle
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Claymont
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Wilmington-Newark, DE-MD (#9160)
    Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
    Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
    Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    Core Based Statistical Division: Wilmington, DE-MD-NJ (#48864)
  • History of Changes
  • Name Change
    Change in Chartering Agent
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $5,104.4 mil
    Equity capital: $784.4 mil
    Deposits held in domestic offices: $1,025.7 mil
    Return on assets (ROA): 6.02% ($307.3 mil)
    Quarterly return on assets: 4.34% ($221.5 mil)
    Return on Equity (ROE): 40.81% ($320.0 mil)
    Quarterly return on equity: 28.40% ($222.7 mil)
    Net income: $298.1 mil
    Quarterly Net income: $55.4 mil
    Pretax return on assets: 9.50% ($484,915.5 mil)
    Quarterly Pretax return on assets: 6.36% ($324,638.2 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
  • 102Total employees (full-time equivalent)
  • $5,104,374Total assets
  • $82,798Cash and due from depository institutions
  • $57,056Interest-bearing balances
  • $39,073Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $4,584,706Net loans & leases
  • $400,421Loan loss allowance
  • $0Trading account assets
  • $87Bank premises and fixed assets
  • $0Other real estate owned
  • $60,141Goodwill and other intangibles
  • $5,104,374Life insurance assets
  • $337,569All other assets
  • $4,320,015Total liabilities and capital
  • $1,025,738Total liabilities
  • $1,003,700Total deposits
  • $1,025,738Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,031,315Trading liabilities
  • $0Other borrowed funds
  • $262,962Subordinated debt
  • $784,359All other liabilities
  • $784,359Total equity capital
  • $784,359Total bank equity capital
  • $0Perpetual preferred stock
  • $17,500Common stock
  • $157,364Surplus
  • $609,495Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $136,392Income earned, not collected on loans
  • $0Earning assets
  • $40,520Long-term assets (5+ years)
  • $4,680,835Average Assets, year-to-date
  • $17,574Average Assets, quarterly
  • $4,953,362Volatile liabilities
  • $5,103,808Insider loans
  • $4,992,465FHLB advances
  • $5,149,438Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $742,025Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $28,144,779Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,270,332Total interest income
  • $131,835Total interest expense
  • $1,138,497Net interest income
  • $250,271Provision for loan and lease losses
  • $57,819Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $57,819Additional noninterest income
  • $475,392Total noninterest expense
  • $12,420Salaries and employee benefits
  • $507Premises and equipment expense
  • $462,465Additional noninterest expense
  • $470,653Pre-tax net operating income
  • $30Securities gains (losses)
  • $172,569Applicable income taxes
  • $298,114Income before extraordinary items
  • $0Extraordinary gains - net
  • $298,114Net income attributable to bank
  • $0Net charge-offs
  • $298,114Cash dividends
  • $303,235Sale, conversion, retirement of capital stock, net
  • $150,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 29.29%Yield on earning assets
  • 3.04%Cost of funding earning assets
  • 26.25%Net interest margin
  • 1.33%Noninterest income to earning assets
  • 10.96%Noninterest expense to earning assets
  • 6.02%Net operating income to assets
  • 6.02%Return on assets (ROA)
  • 9.50%Pretax return on assets
  • 40.81%Return on equity (ROE)
  • 20.28%Retained earnings to average equity (YTD only)
  • 6.62%Net charge-offs to loans
  • 82.53%Credit loss provision to net charge-offs
  • 2.38%Efficiency ratio
  • 38,458Assets per employee
  • 50.04%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 50.32%Loss allowance to loans
  • 8.03%Loss allowance to noncurrent loans
  • 293.58%Noncurrent assets plus other real estate owned to assets
  • 2.67%Noncurrent loans to loans
  • 2.74%Net loans and leases to deposits
  • 446.97%Net loans and leases to core deposits
  • 20803.64%Equity capital to assets
  • 15.37%Core capital (leverage) ratio
  • 14.41%Tier 1 risk-based capital ratio
  • 14.86%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $4,953,362Average earning assets
  • $730,510Average equity
  • $4,337,287Average 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
  • $4,282,441Credit cards receivables
  • $0Auto loans
  • $0Other consumer loans
  • $0Commercial and industrial loans

List of branches

  • 1 Delaware Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    040232World Financial Network BankOne Righter Parkway, Wilmington, DE 19803May 01, 1989Full Service Brick and Mortar

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