FDIC Certificate #: 18896 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Herring Bank (#5568) Federal Reserve ID: 904957 Date Established: September 24, 1963 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 4 (Interstate: No) FDIC's unique #: 12746 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: September 24, 1963 Last Structure Change Effective Date: March 20, 2009 Last Structure Change Process Date: March 23, 2009 Last Data Update: March 23, 2009 Data Source Date: April 05, 2012
Location
Address: 3110 North Nevada Avenue, Colorado Springs, CO 80933 County: El Paso Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Kansas City FDIC Field Office: Denver Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Colorado Springs, CO (#1720) Core Based Statistical Area (CBSA): Colorado Springs, CO (#17820) CBSA Metro Statistical Area: Colorado Springs, CO (#17820)
Financial Summary
Total assets: $123.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
24Total employees (full-time equivalent)
$123,508Total assets
$24,742Cash and due from depository institutions
$19,526Interest-bearing balances
$26,529Securities
$0Federal funds sold & reverse repurchase agreements
$58,925Net loans & leases
$3,098Loan loss allowance
$0Trading account assets
$6,529Bank premises and fixed assets
$1,032Other real estate owned
$0Goodwill and other intangibles
$2,193Life insurance assets
$5,751All other assets
$123,508Total liabilities and capital
$116,110Total liabilities
$85,150Total deposits
$67,497Interest-bearing deposits
$85,150Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$30,134Other borrowed funds
$0Subordinated debt
$826All other liabilities
$7,398Total equity capital
$7,398Total bank equity capital
$7,398Perpetual preferred stock
$0Common stock
$93Surplus
$14,160Undivided profits
Memoranda
$-6,855Noncurrent loans and leases
$1,962Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$15,201Earning assets
$0Long-term assets (5+ years)
$426Average Assets, year-to-date
$104,980Average Assets, quarterly
$24,936Volatile liabilities
$131,292Insider loans
$120,304FHLB advances
$12,542Loans and leases held for sale
$1,300Unused loan commitments
$30,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,962Total unused commitments
$0Restructured Loans and leases
$1,016Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$7,288Total interest income
$3,869Total interest expense
$3,419Net interest income
$2,534Provision for loan and lease losses
$429Total noninterest income
$0Fiduciary activities
$301Service charges on deposit accounts
$0Trading account gains & fees
$128Additional noninterest income
$9,864Total noninterest expense
$1,470Salaries and employee benefits
$615Premises and equipment expense
$7,779Additional noninterest expense
-$8,550Pre-tax net operating income
-$558Securities gains (losses)
-$559Applicable income taxes
-$8,549Income before extraordinary items
$0Extraordinary gains - net
-$8,549Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$374Sale, conversion, retirement of capital stock, net
$75Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.50%Yield on earning assets
3.45%Cost of funding earning assets
3.05%Net interest margin
0.38%Noninterest income to earning assets
8.80%Noninterest expense to earning assets
-6.11%Net operating income to assets
-6.51%Return on assets (ROA)
-6.94%Pretax return on assets
-85.11%Return on equity (ROE)
-85.86%Retained earnings to average equity (YTD only)
0.50%Net charge-offs to loans
677.54%Credit loss provision to net charge-offs
-16.09%Efficiency ratio
99,662Assets per employee
5.15%Cash dividends to net income (YTD only)
Condition Ratios (%)
-0.88%Loss allowance to loans
4.99%Loss allowance to noncurrent loans
20.38%Noncurrent assets plus other real estate owned to assets
13.14%Noncurrent loans to loans
24.51%Net loans and leases to deposits
69.20%Net loans and leases to core deposits
81.01%Equity capital to assets
5.99%Core capital (leverage) ratio
5.55%Tier 1 risk-based capital ratio
8.65%Total risk-based capital ratio
Memoranda
$10Average assets
$131,292Average earning assets
$10,045Average equity
$112,046Average loans
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