FirstBank, Farmington, New Mexico in Farmington, New Mexico (NM)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 27, 1993

FirstBank, Farmington, New Mexico in Farmington, New Mexico (NM)
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FirstBank, Farmington, New Mexico - Overview

General
FDIC Certificate #: 19025
Status: Inactive
Closing history: Absorption - Without Assistance
Acquiring institution: Bank of the Southwest (#2247)
Federal Reserve ID: 963356
Date Established: Febuary 03, 1964
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 12865
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: Febuary 03, 1964
Last Structure Change Effective Date: August 27, 1993
Last Structure Change Process Date: October 04, 1993
Last Data Update: October 04, 1993
Data Source Date: April 05, 2012
Location
Address: 320 West Main Street, Farmington, NM 87401
County: San Juan
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Albuquerque
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Farmington, NM (#22140)
CBSA Metro Statistical Area: Farmington, NM (#22140)
Financial Summary
Total assets: $23.2 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$22Total assets
$25,005Cash and due from depository institutions
$2,982Interest-bearing balances
$0Securities
$5,461Federal funds sold & reverse repurchase agreements
$5,000Net loans & leases
$9,833Loan loss allowance
$436Trading account assets
$0Bank premises and fixed assets
$824Other real estate owned
$605Goodwill and other intangibles
$300Life insurance assets
$0All other assets
$0Total liabilities and capital
$25,005Total liabilities
$23,150Total deposits
$23,043Interest-bearing deposits
$17,666Deposits held in domestic offices
23043.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$107Total equity capital
$107Total bank equity capital
$1,855Perpetual preferred stock
$0Common stock
$752Surplus
$1,119Undivided profits
Memoranda
$-16Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$283Income earned, not collected on loans
$58Earning assets
$20,294Long-term assets (5+ years)
$466Average Assets, year-to-date
$28,285Average Assets, quarterly
$25,142Volatile liabilities
$2,954Insider loans
$186FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$491Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$1,855Total risk weighted assets
$13,178Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$1,983Total interest expense
$843Net interest income
$1,140Provision for loan and lease losses
$0Total noninterest income
$273Fiduciary activities
$0Service charges on deposit accounts
$208Trading account gains & fees
$0Additional noninterest income
$65Total noninterest expense
$1,431Salaries and employee benefits
$568Premises and equipment expense
$340Additional noninterest expense
$523Pre-tax net operating income
-$18Securities gains (losses)
$2Applicable income taxes
$0Income before extraordinary items
-$16Extraordinary gains - net
$0Net income attributable to bank
-$16Net charge-offs
$402Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.62%Cost of funding earning assets
3.67%Net interest margin
4.96%Noninterest income to earning assets
1.19%Noninterest expense to earning assets
6.22%Net operating income to assets
-0.06%Return on assets (ROA)
-0.06%Pretax return on assets
-0.06%Return on equity (ROE)
-0.88%Retained earnings to average equity (YTD only)
-0.88%Net charge-offs to loans
2.97%Credit loss provision to net charge-offs
0.00%Efficiency ratio
101,274Assets per employee
1.14%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.25%Loss allowance to noncurrent loans
154.06%Noncurrent assets plus other real estate owned to assets
3.55%Noncurrent loans to loans
2.76%Net loans and leases to deposits
42.67%Net loans and leases to core deposits
48.95%Equity capital to assets
7.42%Core capital (leverage) ratio
7.40%Tier 1 risk-based capital ratio
14.08%Total risk-based capital ratio
Memoranda
$15Average assets
$28,285Average earning assets
$1,813Average equity
$22,999Average loans

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