Far West Bank in Provo, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 01, 2007

  • Far West Bank in Provo, Utah (UT)
  • Show street view No street view available for this location

Far West Bank - Overview

  • General
  • FDIC Certificate #: 21987
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: AmericanWest Bank (#22441)
    Federal Reserve ID: 586175
    Date Established: April 23, 1975
    WWW: http://www.farwestbank.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 16 (Interstate: No)
    OTS Docket #: 9504
    FDIC's unique #: 15246
    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: April 23, 1975
    Last Structure Change Effective Date: April 01, 2007
    Last Structure Change Process Date: April 24, 2007
    Last Data Update: April 24, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 East Center, Provo, UT 84606
    County: Utah
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Salt Lake City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Provo-Orem, UT (#6520)
    Core Based Statistical Area (CBSA): Provo-Orem, UT (#39340)
    CBSA Metro Statistical Area: Provo-Orem, UT (#39340)
  • Financial Summary
  • Total assets: $438.8 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, 2006)

  • Dollar figures in thousands
  • 215Total employees (full-time equivalent)
  • $430,433Total assets
  • $25,517Cash and due from depository institutions
  • $534Interest-bearing balances
  • $32,651Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $342,271Net loans & leases
  • $5,914Loan loss allowance
  • $0Trading account assets
  • $8,002Bank premises and fixed assets
  • $309Other real estate owned
  • $3,646Goodwill and other intangibles
  • $8,293Life insurance assets
  • $18,037All other assets
  • $430,432Total liabilities and capital
  • $370,769Total liabilities
  • $364,970Total deposits
  • $314,113Interest-bearing deposits
  • $364,970Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $2,776Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $3,023All other liabilities
  • $59,663Total equity capital
  • $59,663Total bank equity capital
  • $59,663Perpetual preferred stock
  • $0Common stock
  • $496Surplus
  • $2,544Undivided profits
  • Memoranda
  • $56,623Noncurrent loans and leases
  • $113,471Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $788Earning assets
  • $20Long-term assets (5+ years)
  • $3,018Average Assets, year-to-date
  • $375,456Average Assets, quarterly
  • $20,157Volatile liabilities
  • $411,336Insider loans
  • $425,022FHLB advances
  • $29,495Loans and leases held for sale
  • $580Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $8,005Total risk weighted assets
  • $113,471Total unused commitments
  • $0Restructured Loans and leases
  • $4,931Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $37,006Total interest income
  • $4,655Total interest expense
  • $32,351Net interest income
  • $1,506Provision for loan and lease losses
  • $7,884Total noninterest income
  • $0Fiduciary activities
  • $2,129Service charges on deposit accounts
  • $0Trading account gains & fees
  • $5,755Additional noninterest income
  • $20,386Total noninterest expense
  • $11,908Salaries and employee benefits
  • $2,030Premises and equipment expense
  • $6,448Additional noninterest expense
  • $18,343Pre-tax net operating income
  • $1Securities gains (losses)
  • $6,700Applicable income taxes
  • $11,644Income before extraordinary items
  • $0Extraordinary gains - net
  • $11,644Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $726Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 10.12%Yield on earning assets
  • 1.27%Cost of funding earning assets
  • 8.85%Net interest margin
  • 2.16%Noninterest income to earning assets
  • 5.57%Noninterest expense to earning assets
  • 2.83%Net operating income to assets
  • 2.83%Return on assets (ROA)
  • 4.46%Pretax return on assets
  • 21.74%Return on equity (ROE)
  • 21.74%Retained earnings to average equity (YTD only)
  • 0.22%Net charge-offs to loans
  • 207.44%Credit loss provision to net charge-offs
  • 27.34%Efficiency ratio
  • 49,338Assets per employee
  • 2.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.70%Loss allowance to noncurrent loans
  • 750.51%Noncurrent assets plus other real estate owned to assets
  • 0.18%Noncurrent loans to loans
  • 0.23%Net loans and leases to deposits
  • 93.78%Net loans and leases to core deposits
  • 101.19%Equity capital to assets
  • 13.86%Core capital (leverage) ratio
  • 12.08%Tier 1 risk-based capital ratio
  • 14.52%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $411,336Average earning assets
  • $53,570Average equity
  • $365,708Average loans

Bank Assets Sold and Securitized (December 31, 2001)

  • Dollar figures in thousands

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