FDIC Certificate #: 57136 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:CommerceWest Bank, N.A. (#57176) Federal Reserve ID: 2957667 Date Established: September 19, 2001 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 358449 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: September 19, 2001 Last Structure Change Effective Date: July 24, 2009 Last Structure Change Process Date: August 28, 2009 Last Data Update: August 28, 2009 Data Source Date: April 05, 2012
Location
Address: 338 Via Vera Cruz, San Marcos, CA 92078 County: San Diego Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Orange Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): San Diego, CA (#7320) Core Based Statistical Area (CBSA): San Diego-Carlsbad-San Marcos, CA (#41740) CBSA Metro Statistical Area: San Diego-Carlsbad-San Marcos, CA (#41740)
Financial Summary
Total assets: $151.1 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
51Total employees (full-time equivalent)
$171,266Total assets
$6,971Cash and due from depository institutions
$2,398Interest-bearing balances
$1,838Securities
$23,835Federal funds sold & reverse repurchase agreements
$131,740Net loans & leases
$3,424Loan loss allowance
$0Trading account assets
$400Bank premises and fixed assets
$1,814Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$4,668All other assets
$171,266Total liabilities and capital
$153,588Total liabilities
$145,653Total deposits
$115,636Interest-bearing deposits
$145,653Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$5,000Other borrowed funds
$0Subordinated debt
$2,935All other liabilities
$17,678Total equity capital
$17,678Total bank equity capital
$17,678Perpetual preferred stock
$0Common stock
$20,312Surplus
$0Undivided profits
Memoranda
$-2,634Noncurrent loans and leases
$38,567Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$9,240Earning assets
$0Long-term assets (5+ years)
$465Average Assets, year-to-date
$159,811Average Assets, quarterly
$16,868Volatile liabilities
$170,962Insider loans
$165,166FHLB advances
$13,759Loans and leases held for sale
$872Unused loan commitments
$5,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$38,567Total unused commitments
$633Restructured Loans and leases
$1,932Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$9,805Total interest income
$3,585Total interest expense
$6,220Net interest income
$5,595Provision for loan and lease losses
$715Total noninterest income
$0Fiduciary activities
$176Service charges on deposit accounts
$0Trading account gains & fees
$539Additional noninterest income
$7,564Total noninterest expense
$4,516Salaries and employee benefits
$751Premises and equipment expense
$2,297Additional noninterest expense
-$6,224Pre-tax net operating income
$0Securities gains (losses)
-$2,393Applicable income taxes
-$3,831Income before extraordinary items
$0Extraordinary gains - net
-$3,831Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$5,341Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.23%Yield on earning assets
2.28%Cost of funding earning assets
3.95%Net interest margin
0.45%Noninterest income to earning assets
4.80%Noninterest expense to earning assets
-2.24%Net operating income to assets
-2.24%Return on assets (ROA)
-3.64%Pretax return on assets
-23.30%Return on equity (ROE)
-23.30%Retained earnings to average equity (YTD only)
3.80%Net charge-offs to loans
104.76%Credit loss provision to net charge-offs
-0.12%Efficiency ratio
109,070Assets per employee
3.36%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.53%Loss allowance to noncurrent loans
37.06%Noncurrent assets plus other real estate owned to assets
6.45%Noncurrent loans to loans
6.84%Net loans and leases to deposits
90.45%Net loans and leases to core deposits
96.24%Equity capital to assets
10.32%Core capital (leverage) ratio
10.55%Tier 1 risk-based capital ratio
11.54%Total risk-based capital ratio
Memoranda
$13Average assets
$170,962Average earning assets
$16,443Average equity
$157,422Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Discovery Bank.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: