FDIC Certificate #: 21924 Status: Inactive Closing history: Consolidated - Without Assistance Acquiring institution:West Coast Bank (#2345) Federal Reserve ID: 449971 Date Established: Febuary 10, 1975 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 8 (Interstate: No) OTS Docket #: 8908 FDIC's unique #: 15193 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: Febuary 10, 1975 Last Structure Change Effective Date: December 31, 1998 Last Structure Change Process Date: January 28, 1999 Last Data Update: January 28, 1999 Data Source Date: April 05, 2012
Location
Address: 2850 Harrison Avenue, N.W., Olympia, WA 98502 County: Thurston 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): Olympia, WA (#5910) Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91) Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Olympia, WA (#36500) CBSA Metro Statistical Area: Olympia, WA (#36500)
Financial Summary
Total assets: $280.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
147Total employees (full-time equivalent)
$268,382Total assets
$52,584Cash and due from depository institutions
$437Interest-bearing balances
$12,143Securities
$0Federal funds sold & reverse repurchase agreements
$190,250Net loans & leases
$1,922Loan loss allowance
$0Trading account assets
$7,737Bank premises and fixed assets
$163Other real estate owned
$2,646Goodwill and other intangibles
$0Life insurance assets
$2,859All other assets
$268,382Total liabilities and capital
$246,765Total liabilities
$245,458Total deposits
$207,620Interest-bearing deposits
$245,458Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,307All other liabilities
$21,617Total equity capital
$21,617Total bank equity capital
$21,617Perpetual preferred stock
$0Common stock
$1,295Surplus
$14,115Undivided profits
Memoranda
$6,207Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,244Earning assets
$0Long-term assets (5+ years)
$1,081Average Assets, year-to-date
$202,830Average Assets, quarterly
$24,315Volatile liabilities
$242,998Insider loans
$264,184FHLB advances
$22,417Loans and leases held for sale
$1,661Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,508Total risk weighted assets
$52,619Total unused commitments
$0Restructured Loans and leases
$192,803Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$20,866Total interest income
$8,125Total interest expense
$12,741Net interest income
$1,740Provision for loan and lease losses
$5,656Total noninterest income
$0Fiduciary activities
$1,086Service charges on deposit accounts
$0Trading account gains & fees
$4,570Additional noninterest income
$12,280Total noninterest expense
$6,475Salaries and employee benefits
$1,492Premises and equipment expense
$4,313Additional noninterest expense
$4,377Pre-tax net operating income
-$13Securities gains (losses)
$1,256Applicable income taxes
$3,108Income before extraordinary items
$0Extraordinary gains - net
$3,108Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,238Sale, conversion, retirement of capital stock, net
$600Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
10.02%Yield on earning assets
3.90%Cost of funding earning assets
6.12%Net interest margin
2.72%Noninterest income to earning assets
5.90%Noninterest expense to earning assets
1.28%Net operating income to assets
1.28%Return on assets (ROA)
1.80%Pretax return on assets
15.37%Return on equity (ROE)
12.40%Retained earnings to average equity (YTD only)
0.65%Net charge-offs to loans
140.55%Credit loss provision to net charge-offs
4.94%Efficiency ratio
65,630Assets per employee
1.83%Cash dividends to net income (YTD only)
Condition Ratios (%)
19.31%Loss allowance to loans
1.00%Loss allowance to noncurrent loans
154.50%Noncurrent assets plus other real estate owned to assets
0.48%Noncurrent loans to loans
0.65%Net loans and leases to deposits
77.51%Net loans and leases to core deposits
85.30%Equity capital to assets
8.05%Core capital (leverage) ratio
7.72%Tier 1 risk-based capital ratio
10.25%Total risk-based capital ratio
Memoranda
$11Average assets
$242,998Average earning assets
$20,222Average equity
$208,223Average loans
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