FDIC Certificate #: 22169 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Frontier Bank (#22710) Federal Reserve ID: 956170 Date Established: December 01, 1975 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) OTS Docket #: 9340 FDIC's unique #: 15401 Numeric code: 21 Regulator: FDIC 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: December 01, 1975 Last Structure Change Effective Date: December 21, 1998 Last Structure Change Process Date: Febuary 12, 1999 Last Data Update: Febuary 12, 1999 Data Source Date: April 05, 2012
Location
Address: 801 Alder Avenue, Sumner, WA 98390 County: Pierce Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Seattle Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Tacoma, WA (#8200) Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91) Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660) CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660) Core Based Statistical Division: Tacoma, WA (#45104)
Financial Summary
Total assets: $99.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
43Total employees (full-time equivalent)
$89,964Total assets
$13,774Cash and due from depository institutions
$10,535Interest-bearing balances
$1,366Securities
$0Federal funds sold & reverse repurchase agreements
$70,612Net loans & leases
$979Loan loss allowance
$0Trading account assets
$1,970Bank premises and fixed assets
$200Other real estate owned
$1,230Goodwill and other intangibles
$0Life insurance assets
$812All other assets
$89,964Total liabilities and capital
$80,292Total liabilities
$79,451Total deposits
$60,887Interest-bearing deposits
$79,451Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$240Other borrowed funds
$0Subordinated debt
$601All other liabilities
$9,672Total equity capital
$9,672Total bank equity capital
$9,672Perpetual preferred stock
$0Common stock
$824Surplus
$6,677Undivided profits
Memoranda
$2,171Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$86Earning assets
$0Long-term assets (5+ years)
$454Average Assets, year-to-date
$82,513Average Assets, quarterly
$525Volatile liabilities
$79,152Insider loans
$87,910FHLB advances
$8,824Loans and leases held for sale
$2,805Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$20,577Total unused commitments
$0Restructured Loans and leases
$75,078Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$7,013Total interest income
$2,167Total interest expense
$4,846Net interest income
$245Provision for loan and lease losses
$491Total noninterest income
$0Fiduciary activities
$311Service charges on deposit accounts
$0Trading account gains & fees
$180Additional noninterest income
$2,599Total noninterest expense
$1,523Salaries and employee benefits
$376Premises and equipment expense
$700Additional noninterest expense
$2,493Pre-tax net operating income
$0Securities gains (losses)
$739Applicable income taxes
$1,754Income before extraordinary items
$0Extraordinary gains - net
$1,754Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$31Sale, conversion, retirement of capital stock, net
$665Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
9.64%Yield on earning assets
2.98%Cost of funding earning assets
6.66%Net interest margin
0.68%Noninterest income to earning assets
3.57%Noninterest expense to earning assets
2.22%Net operating income to assets
2.22%Return on assets (ROA)
3.15%Pretax return on assets
19.51%Return on equity (ROE)
12.11%Retained earnings to average equity (YTD only)
0.05%Net charge-offs to loans
790.32%Credit loss provision to net charge-offs
88.32%Efficiency ratio
47,986Assets per employee
2.09%Cash dividends to net income (YTD only)
Condition Ratios (%)
37.91%Loss allowance to loans
1.37%Loss allowance to noncurrent loans
1138.37%Noncurrent assets plus other real estate owned to assets
0.32%Noncurrent loans to loans
0.12%Net loans and leases to deposits
88.87%Net loans and leases to core deposits
99.98%Equity capital to assets
10.75%Core capital (leverage) ratio
10.07%Tier 1 risk-based capital ratio
11.24%Total risk-based capital ratio
Memoranda
$12Average assets
$79,152Average earning assets
$8,991Average equity
$72,713Average loans
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