Citizens First Bank in Elma, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 09, 1995

Citizens First Bank in Elma, Washington (WA)
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Citizens First Bank - Overview

General
FDIC Certificate #: 22733
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Venture Bank (#22868)
Federal Reserve ID: 69379
Date Established: December 01, 1978
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 10422
FDIC's unique #: 15870
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, 1978
Last Structure Change Effective Date: December 09, 1995
Last Structure Change Process Date: January 24, 1996
Last Data Update: January 24, 1996
Data Source Date: April 05, 2012
Location
Address: 313 Waldrip Street, Elma, WA 98541
County: Grays Harbor
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
Core Based Statistical Area (CBSA): Aberdeen, WA (#10140)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $36.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$19Total assets
$34,327Cash and due from depository institutions
$7,988Interest-bearing balances
$6,635Securities
$1,031Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$24,159Loan loss allowance
$275Trading account assets
$0Bank premises and fixed assets
$758Other real estate owned
$80Goodwill and other intangibles
$311Life insurance assets
$0All other assets
$0Total liabilities and capital
$34,327Total liabilities
$31,230Total deposits
$30,553Interest-bearing deposits
$26,011Deposits held in domestic offices
30553.00%% insured (estimated)
$93Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$500Subordinated debt
$0All other liabilities
$177Total equity capital
$177Total bank equity capital
$3,097Perpetual preferred stock
$0Common stock
$616Surplus
$1,884Undivided profits
Memoranda
$597Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$164Income earned, not collected on loans
$130Earning assets
$31,825Long-term assets (5+ years)
$4,427Average Assets, year-to-date
$31,658Average Assets, quarterly
$33,812Volatile liabilities
$2,886Insider loans
$604FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$2,054Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,097Total risk weighted assets
$25,031Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$2,505Total interest expense
$808Net interest income
$1,697Provision for loan and lease losses
$89Total noninterest income
$394Fiduciary activities
$0Service charges on deposit accounts
$267Trading account gains & fees
$0Additional noninterest income
$127Total noninterest expense
$1,353Salaries and employee benefits
$629Premises and equipment expense
$186Additional noninterest expense
$538Pre-tax net operating income
$649Securities gains (losses)
-$57Applicable income taxes
$216Income before extraordinary items
$376Extraordinary gains - net
$0Net income attributable to bank
$376Net charge-offs
$38Cash dividends
$51Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.58%Cost of funding earning assets
2.77%Net interest margin
5.82%Noninterest income to earning assets
1.35%Noninterest expense to earning assets
4.64%Net operating income to assets
1.30%Return on assets (ROA)
1.19%Pretax return on assets
1.87%Return on equity (ROE)
12.91%Retained earnings to average equity (YTD only)
11.16%Net charge-offs to loans
0.17%Credit loss provision to net charge-offs
234.21%Efficiency ratio
64,706Assets per employee
1.81%Cash dividends to net income (YTD only)
Condition Ratios (%)
13.56%Loss allowance to loans
1.13%Loss allowance to noncurrent loans
167.68%Noncurrent assets plus other real estate owned to assets
0.71%Noncurrent loans to loans
0.67%Net loans and leases to deposits
79.07%Net loans and leases to core deposits
85.77%Equity capital to assets
9.02%Core capital (leverage) ratio
9.01%Tier 1 risk-based capital ratio
12.37%Total risk-based capital ratio
Memoranda
$13Average assets
$31,658Average earning assets
$2,913Average equity
$29,181Average loans

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