FDIC Certificate #: 1249 Status: Inactive Closing history: Corrections Acquiring institution:Far West Bank (#21987) Federal Reserve ID: 866279 Date Established: January 01, 1905 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 4 (Interstate: No) FDIC's unique #: 850 Numeric code: 13 Regulator: FED Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: June 25, 2004 Last Structure Change Process Date: June 29, 2004 Last Data Update: August 18, 2004 Data Source Date: April 05, 2012
Location
Address: Main Street, Ephraim, UT 84627 County: Sanpete 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
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $56.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
32Total employees (full-time equivalent)
$59,390Total assets
$6,863Cash and due from depository institutions
$603Interest-bearing balances
$5,704Securities
$7,639Federal funds sold & reverse repurchase agreements
$35,514Net loans & leases
$2,056Loan loss allowance
$0Trading account assets
$964Bank premises and fixed assets
$1,290Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,416All other assets
$59,390Total liabilities and capital
$55,095Total liabilities
$54,897Total deposits
$39,117Interest-bearing deposits
$54,897Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$198All other liabilities
$4,295Total equity capital
$4,295Total bank equity capital
$4,295Perpetual preferred stock
$0Common stock
$50Surplus
$600Undivided profits
Memoranda
$3,645Noncurrent loans and leases
$2,511Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,670Earning assets
$0Long-term assets (5+ years)
$380Average Assets, year-to-date
$49,460Average Assets, quarterly
$2,301Volatile liabilities
$58,241Insider loans
$60,587FHLB advances
$3,686Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,511Total unused commitments
$1,388Restructured Loans and leases
$553Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$3,268Total interest income
$798Total interest expense
$2,470Net interest income
$2,072Provision for loan and lease losses
$514Total noninterest income
$0Fiduciary activities
$501Service charges on deposit accounts
$0Trading account gains & fees
$13Additional noninterest income
$2,233Total noninterest expense
$1,320Salaries and employee benefits
$191Premises and equipment expense
$722Additional noninterest expense
-$1,321Pre-tax net operating income
$0Securities gains (losses)
-$543Applicable income taxes
-$778Income before extraordinary items
$0Extraordinary gains - net
-$778Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,011Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.71%Yield on earning assets
1.64%Cost of funding earning assets
5.07%Net interest margin
1.05%Noninterest income to earning assets
4.58%Noninterest expense to earning assets
-1.34%Net operating income to assets
-1.34%Return on assets (ROA)
-2.27%Pretax return on assets
-16.49%Return on equity (ROE)
-16.49%Retained earnings to average equity (YTD only)
2.65%Net charge-offs to loans
204.95%Credit loss provision to net charge-offs
0.74%Efficiency ratio
74,832Assets per employee
1.86%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.47%Loss allowance to noncurrent loans
56.02%Noncurrent assets plus other real estate owned to assets
8.35%Noncurrent loans to loans
9.77%Net loans and leases to deposits
64.69%Net loans and leases to core deposits
69.35%Equity capital to assets
7.23%Core capital (leverage) ratio
6.91%Tier 1 risk-based capital ratio
10.02%Total risk-based capital ratio
Memoranda
$11Average assets
$58,241Average earning assets
$4,717Average equity
$48,728Average loans
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