FDIC Certificate #: 58446 Status: Active Federal Reserve ID: 3537897 Date Established: December 11, 2006 WWW:http://www.commencementbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 451921 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: December 11, 2006 Last Structure Change Effective Date: September 02, 2008 Last Structure Change Process Date: October 28, 2008 Last Data Update: October 28, 2008 Data Source Date: April 05, 2012
Location
Address: 1135 Broadway Plaza, Suite 103, Tacoma, WA 98402 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)
History of Changes
Change in Primary Regulatory Agency
Change in Supervisory Agency
Institution Becomes a Member of FRS (Federal Reserve System)
Financial Summary
Total assets: $130.1 mil Equity capital: $17.5 mil Deposits held in domestic offices: $110.4 mil Return on assets (ROA): 0.48% ($0.6 mil) Quarterly return on assets: 0.60% ($0.8 mil) Return on Equity (ROE): 3.39% ($0.6 mil) Quarterly return on equity: 4.44% ($0.8 mil) Net income: $0.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.48% ($624.6 mil) Quarterly Pretax return on assets: 0.60% ($780.8 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2011)
Dollar figures in thousands
20Total employees (full-time equivalent)
$130,132Total assets
$17,090Cash and due from depository institutions
$14,654Interest-bearing balances
$8,131Securities
$0Federal funds sold & reverse repurchase agreements
$103,191Net loans & leases
$2,524Loan loss allowance
$0Trading account assets
$241Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$130,132Life insurance assets
$1,479All other assets
$112,664Total liabilities and capital
$110,432Total liabilities
$98,705Total deposits
$110,432Interest-bearing deposits
$85Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$2,000Trading liabilities
$0Other borrowed funds
$232Subordinated debt
$17,468All other liabilities
$17,468Total equity capital
$17,468Total bank equity capital
$0Perpetual preferred stock
$2,219Common stock
$20,857Surplus
$-5,608Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$5,387Income earned, not collected on loans
$0Earning assets
$421Long-term assets (5+ years)
$125,976Average Assets, year-to-date
$10,473Average Assets, quarterly
$121,451Volatile liabilities
$128,836Insider loans
$105,605FHLB advances
$131,011Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$17,462Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$23,995Restructured Loans and leases
$5,921Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$5,680Total interest income
$1,094Total interest expense
$4,586Net interest income
$265Provision for loan and lease losses
$140Total noninterest income
$0Fiduciary activities
$97Service charges on deposit accounts
$0Trading account gains & fees
$43Additional noninterest income
$3,881Total noninterest expense
$2,095Salaries and employee benefits
$336Premises and equipment expense
$1,450Additional noninterest expense
$580Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$580Income before extraordinary items
$0Extraordinary gains - net
$580Net income attributable to bank
$0Net charge-offs
$580Cash dividends
$89Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.84%Yield on earning assets
0.93%Cost of funding earning assets
3.91%Net interest margin
0.12%Noninterest income to earning assets
3.31%Noninterest expense to earning assets
0.48%Net operating income to assets
0.48%Return on assets (ROA)
0.48%Pretax return on assets
3.39%Return on equity (ROE)
3.39%Retained earnings to average equity (YTD only)
0.09%Net charge-offs to loans
297.75%Credit loss provision to net charge-offs
9.49%Efficiency ratio
82,120Assets per employee
6.51%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.39%Loss allowance to noncurrent loans
46.85%Noncurrent assets plus other real estate owned to assets
4.14%Noncurrent loans to loans
5.10%Net loans and leases to deposits
93.44%Net loans and leases to core deposits
128.90%Equity capital to assets
13.42%Core capital (leverage) ratio
13.33%Tier 1 risk-based capital ratio
16.54%Total risk-based capital ratio
Memoranda
$18Average assets
$121,451Average earning assets
$17,109Average equity
$117,390Average loans
List of branches
1 Washington Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
451921
Commencement Bank
1135 Broadway Plaza, Suite 103, Tacoma, WA 98402
December 11, 2006
Full Service Brick and Mortar
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