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
No
ID
Name
Address
Established
Service Type
Map
0
61209
Wright Express Financial Services Co
7090 South Union Park Avenue, Suite 350, Midvale, UT 84047
June 01, 1998
Full Service Brick and Mortar
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