FDIC Certificate #: 35463 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Stearns Bank National Association (#10988) Federal Reserve ID: 2866255 Date Established: May 22, 2000 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) FDIC's unique #: 80244 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: May 22, 2000 Last Structure Change Effective Date: November 12, 2010 Last Structure Change Process Date: November 15, 2010 Last Data Update: November 15, 2010 Data Source Date: April 05, 2012
Location
Address: 7555 East Redfield Road, Scottsdale, AZ 85260 County: Maricopa Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: Kansas City FDIC Field Office: Phoenix Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Phoenix-Mesa, AZ (#6200) Core Based Statistical Area (CBSA): Phoenix-Mesa-Glendale, AZ (#38060) CBSA Metro Statistical Area: Phoenix-Mesa-Glendale, AZ (#38060)
Financial Summary
Total assets: $204.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
48Total employees (full-time equivalent)
$245,593Total assets
$15,224Cash and due from depository institutions
$13,398Interest-bearing balances
$32,357Securities
$0Federal funds sold & reverse repurchase agreements
$174,820Net loans & leases
$5,087Loan loss allowance
$0Trading account assets
$10,150Bank premises and fixed assets
$8,725Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$4,317All other assets
$245,593Total liabilities and capital
$230,818Total liabilities
$208,232Total deposits
$195,764Interest-bearing deposits
$208,232Deposits held in domestic offices
73.20%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$21,500Other borrowed funds
$0Subordinated debt
$1,086All other liabilities
$14,775Total equity capital
$14,775Total bank equity capital
$14,775Perpetual preferred stock
$0Common stock
$500Surplus
$21,276Undivided profits
Memoranda
$-7,001Noncurrent loans and leases
$6,346Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$32,041Earning assets
$0Long-term assets (5+ years)
$692Average Assets, year-to-date
$220,575Average Assets, quarterly
$27,282Volatile liabilities
$260,059Insider loans
$246,561FHLB advances
$100,413Loans and leases held for sale
$171Unused loan commitments
$21,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,346Total unused commitments
$5,148Restructured Loans and leases
$2,434Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$12,053Total interest income
$6,644Total interest expense
$5,409Net interest income
$4,753Provision for loan and lease losses
$199Total noninterest income
$0Fiduciary activities
$92Service charges on deposit accounts
$0Trading account gains & fees
$107Additional noninterest income
$7,534Total noninterest expense
$4,110Salaries and employee benefits
$1,014Premises and equipment expense
$2,410Additional noninterest expense
-$6,679Pre-tax net operating income
$682Securities gains (losses)
$306Applicable income taxes
-$6,303Income before extraordinary items
$0Extraordinary gains - net
-$6,303Net income attributable to bank
$0Net charge-offs
-$6,303Cash dividends
$6,743Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.07%Yield on earning assets
2.79%Cost of funding earning assets
2.27%Net interest margin
0.08%Noninterest income to earning assets
3.17%Noninterest expense to earning assets
-2.69%Net operating income to assets
-2.42%Return on assets (ROA)
-2.31%Pretax return on assets
-33.32%Return on equity (ROE)
-33.32%Retained earnings to average equity (YTD only)
3.42%Net charge-offs to loans
70.49%Credit loss provision to net charge-offs
-0.29%Efficiency ratio
134,344Assets per employee
5.12%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.83%Loss allowance to noncurrent loans
15.88%Noncurrent assets plus other real estate owned to assets
16.60%Noncurrent loans to loans
17.81%Net loans and leases to deposits
83.95%Net loans and leases to core deposits
141.76%Equity capital to assets
6.02%Core capital (leverage) ratio
6.16%Tier 1 risk-based capital ratio
7.92%Total risk-based capital ratio
Memoranda
$9Average assets
$260,059Average earning assets
$18,919Average equity
$237,796Average loans
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