Wright Express Financial Services Corporation in Midvale, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Wright Express Financial Services Corporation in Midvale, Utah (UT)
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Wright Express Financial Services Corporation - Overview

  • General
  • FDIC Certificate #: 34697
    Status: Active
    Federal Reserve ID: 2700984
    Date Established: June 01, 1998
    WWW: http://www.wrightexpress.com
    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 #: 61209
    Numeric code: 23
    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: Yes
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: June 01, 1998
    Last Structure Change Effective Date: March 29, 2010
    Last Structure Change Process Date: April 09, 2010
    Last Data Update: April 09, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 7090 South Union Park Avenue, Suite 350, Midvale, UT 84047
    County: Salt Lake
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    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
  • Change in Location
  • Financial Summary
  • Total assets: $1,164.9 mil
    Equity capital: $159.5 mil
    Deposits held in domestic offices: $941.6 mil
    Return on assets (ROA): 10.30% ($120.0 mil)
    Quarterly return on assets: 9.78% ($113.9 mil)
    Return on Equity (ROE): 78.90% ($126.2 mil)
    Quarterly return on equity: 72.32% ($115.7 mil)
    Net income: $124.9 mil
    Quarterly Net income: $30.6 mil
    Pretax return on assets: 16.45% ($191,619.8 mil)
    Quarterly Pretax return on assets: 15.54% ($181,019.6 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
  • 30Total employees (full-time equivalent)
  • $1,164,862Total assets
  • $17,564Cash and due from depository institutions
  • $232Interest-bearing balances
  • $17,076Securities
  • $1,465Federal funds sold & reverse repurchase agreements
  • $1,094,175Net loans & leases
  • $9,501Loan loss allowance
  • $0Trading account assets
  • $98Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $1,164,862Life insurance assets
  • $34,484All other assets
  • $1,005,355Total liabilities and capital
  • $941,574Total liabilities
  • $683,261Total deposits
  • $941,574Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 6900.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $56,881Subordinated debt
  • $159,507All other liabilities
  • $159,507Total equity capital
  • $159,507Total bank equity capital
  • $0Perpetual preferred stock
  • $5,250Common stock
  • $6,155Surplus
  • $148,102Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,833Income earned, not collected on loans
  • $0Earning assets
  • $18Long-term assets (5+ years)
  • $1,112,948Average Assets, year-to-date
  • $5,357Average Assets, quarterly
  • $1,211,966Volatile liabilities
  • $1,251,124Insider loans
  • $1,142,126FHLB advances
  • $1,263,729Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $159,306Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,628,381Restructured Loans and leases
  • $0Derivatives
  • $232Total assets and liabilities in foreign offices

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $290,492Total interest income
  • $5,418Total interest expense
  • $285,074Net interest income
  • $19,668Provision for loan and lease losses
  • $129,373Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $129,373Additional noninterest income
  • $195,433Total noninterest expense
  • $2,427Salaries and employee benefits
  • $264Premises and equipment expense
  • $192,742Additional noninterest expense
  • $199,346Pre-tax net operating income
  • $0Securities gains (losses)
  • $74,470Applicable income taxes
  • $124,876Income before extraordinary items
  • $0Extraordinary gains - net
  • $124,876Net income attributable to bank
  • $0Net charge-offs
  • $124,876Cash dividends
  • $18,857Sale, conversion, retirement of capital stock, net
  • $94,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 24.95%Yield on earning assets
  • 0.47%Cost of funding earning assets
  • 24.48%Net interest margin
  • 11.11%Noninterest income to earning assets
  • 16.78%Noninterest expense to earning assets
  • 10.30%Net operating income to assets
  • 10.30%Return on assets (ROA)
  • 16.45%Pretax return on assets
  • 78.90%Return on equity (ROE)
  • 19.51%Retained earnings to average equity (YTD only)
  • 1.64%Net charge-offs to loans
  • 104.30%Credit loss provision to net charge-offs
  • 11.61%Efficiency ratio
  • 47,155Assets per employee
  • 38.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 75.27%Loss allowance to loans
  • 0.86%Loss allowance to noncurrent loans
  • 162.88%Noncurrent assets plus other real estate owned to assets
  • 0.50%Noncurrent loans to loans
  • 0.53%Net loans and leases to deposits
  • 116.21%Net loans and leases to core deposits
  • 423.58%Equity capital to assets
  • 13.69%Core capital (leverage) ratio
  • 12.61%Tier 1 risk-based capital ratio
  • 13.95%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,211,966Average earning assets
  • $158,274Average equity
  • $1,164,432Average loans

List of branches

  • 1 Utah Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061209Wright Express Financial Services Co7090 South Union Park Avenue, Suite 350, Midvale, UT 84047June 01, 1998Full Service Brick and Mortar

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