FirstBank of Summit County in Silverthorne, Colorado (CO)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 16, 2010

FirstBank of Summit County in Silverthorne, Colorado (CO)
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FirstBank of Summit County - Overview

General
FDIC Certificate #: 24746
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: FirstBank (#18714)
Federal Reserve ID: 409555
Date Established: September 28, 1983
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
OTS Docket #: 11102
FDIC's unique #: 17174
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 28, 1983
Last Structure Change Effective Date: October 16, 2010
Last Structure Change Process Date: October 25, 2010
Last Data Update: October 25, 2010
Data Source Date: April 05, 2012
Location
Address: 160 U.S. Highway 6, Silverthorne, CO 80498
County: Summit
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Silverthorne, CO (#43540)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $315.4 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, 2009)

Dollar figures in thousands
49Total employees (full-time equivalent)
$346,019Total assets
$5,611Cash and due from depository institutions
$41Interest-bearing balances
$59,129Securities
$0Federal funds sold & reverse repurchase agreements
$266,455Net loans & leases
$4,708Loan loss allowance
$0Trading account assets
$6,872Bank premises and fixed assets
$688Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$7,264All other assets
$346,019Total liabilities and capital
$314,269Total liabilities
$284,818Total deposits
$227,417Interest-bearing deposits
$284,818Deposits held in domestic offices
89.95%% insured (estimated)
$28,677Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$774All other liabilities
$31,750Total equity capital
$31,750Total bank equity capital
$31,750Perpetual preferred stock
$0Common stock
$700Surplus
$2,900Undivided profits
Memoranda
$28,150Noncurrent loans and leases
$28,819Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,400Earning assets
$0Long-term assets (5+ years)
$1,367Average Assets, year-to-date
$325,625Average Assets, quarterly
$127,055Volatile liabilities
$369,278Insider loans
$357,810FHLB advances
$63,616Loans and leases held for sale
$314Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$28,819Total unused commitments
$551Restructured Loans and leases
$2,624Derivatives

Income and Expense (December 31, 2009)

Dollar figures in thousands
$20,803Total interest income
$3,037Total interest expense
$17,766Net interest income
$1,432Provision for loan and lease losses
$2,958Total noninterest income
$0Fiduciary activities
$1,542Service charges on deposit accounts
$0Trading account gains & fees
$1,416Additional noninterest income
$8,641Total noninterest expense
$3,513Salaries and employee benefits
$831Premises and equipment expense
$4,297Additional noninterest expense
$10,651Pre-tax net operating income
$408Securities gains (losses)
$3,627Applicable income taxes
$7,432Income before extraordinary items
$0Extraordinary gains - net
$7,432Net income attributable to bank
$0Net charge-offs
$7,432Cash dividends
$620Sale, conversion, retirement of capital stock, net
$2,050Net operating income

Performance and Condition Ratios (December 31, 2009)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.93%Yield on earning assets
0.87%Cost of funding earning assets
5.07%Net interest margin
0.84%Noninterest income to earning assets
2.46%Noninterest expense to earning assets
1.94%Net operating income to assets
2.01%Return on assets (ROA)
2.99%Pretax return on assets
25.55%Return on equity (ROE)
18.50%Retained earnings to average equity (YTD only)
0.22%Net charge-offs to loans
230.97%Credit loss provision to net charge-offs
19.49%Efficiency ratio
41,696Assets per employee
7.06%Cash dividends to net income (YTD only)
Condition Ratios (%)
27.58%Loss allowance to loans
1.74%Loss allowance to noncurrent loans
138.47%Noncurrent assets plus other real estate owned to assets
1.18%Noncurrent loans to loans
1.25%Net loans and leases to deposits
93.55%Net loans and leases to core deposits
106.63%Equity capital to assets
9.18%Core capital (leverage) ratio
9.07%Tier 1 risk-based capital ratio
15.24%Total risk-based capital ratio
Memoranda
$17Average assets
$369,278Average earning assets
$29,089Average equity
$350,593Average loans

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