FDIC Certificate #: 58437 Status: Active Federal Reserve ID: 3537963 Date Established: December 11, 2006 WWW:http://www.fortunebankwa.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 451732 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: December 11, 2006 Last Structure Change Effective Date: March 26, 2010 Last Structure Change Process Date: April 01, 2010 Last Data Update: April 01, 2010 Data Source Date: April 05, 2012
Location
Address: 1201 Third Avenue, Suite 700, Seattle, WA 98101 County: King Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Seattle Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Seattle-Bellevue-Everett, WA (#7600) Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91) Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660) CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660) Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
Financial Summary
Total assets: $142.6 mil Equity capital: $16.0 mil Deposits held in domestic offices: $125.9 mil Return on assets (ROA): 0.28% ($0.4 mil) Quarterly return on assets: -0.44% (-$0.6 mil) Return on Equity (ROE): 2.63% ($0.4 mil) Quarterly return on equity: -4.14% (-$0.7 mil) Net income: $0.4 mil Quarterly Net income: -$0.2 mil Pretax return on assets: 0.28% ($399.2 mil) Quarterly Pretax return on assets: -0.44% (-$627.3 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2011)
Dollar figures in thousands
29Total employees (full-time equivalent)
$142,559Total assets
$25,917Cash and due from depository institutions
$22,655Interest-bearing balances
$9,521Securities
$0Federal funds sold & reverse repurchase agreements
$103,241Net loans & leases
$1,863Loan loss allowance
$0Trading account assets
$121Bank premises and fixed assets
$1,930Other real estate owned
$622Goodwill and other intangibles
$142,559Life insurance assets
$1,207All other assets
$126,583Total liabilities and capital
$125,891Total liabilities
$95,613Total deposits
$125,891Interest-bearing deposits
$81Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$692Subordinated debt
$15,976All other liabilities
$15,976Total equity capital
$15,976Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$25,999Surplus
$-10,023Undivided profits
Memoranda
$0Noncurrent loans and leases
$1,739Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,260Income earned, not collected on loans
$0Earning assets
$430Long-term assets (5+ years)
$135,417Average Assets, year-to-date
$10,576Average Assets, quarterly
$143,551Volatile liabilities
$147,911Insider loans
$108,435FHLB advances
$150,166Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$15,966Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$30,780Restructured Loans and leases
$1,433Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$6,337Total interest income
$1,070Total interest expense
$5,267Net interest income
$840Provision for loan and lease losses
$1,978Total noninterest income
$0Fiduciary activities
$213Service charges on deposit accounts
$0Trading account gains & fees
$1,765Additional noninterest income
$6,004Total noninterest expense
$3,105Salaries and employee benefits
$483Premises and equipment expense
$2,416Additional noninterest expense
$401Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$401Income before extraordinary items
$0Extraordinary gains - net
$401Net income attributable to bank
$0Net charge-offs
$401Cash dividends
$1,702Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.61%Yield on earning assets
0.78%Cost of funding earning assets
3.83%Net interest margin
1.44%Noninterest income to earning assets
4.37%Noninterest expense to earning assets
0.28%Net operating income to assets
0.28%Return on assets (ROA)
0.28%Pretax return on assets
2.63%Return on equity (ROE)
2.63%Retained earnings to average equity (YTD only)
1.60%Net charge-offs to loans
49.35%Credit loss provision to net charge-offs
0.73%Efficiency ratio
82,871Assets per employee
4.92%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.77%Loss allowance to noncurrent loans
82.43%Noncurrent assets plus other real estate owned to assets
2.94%Noncurrent loans to loans
2.15%Net loans and leases to deposits
82.01%Net loans and leases to core deposits
101.95%Equity capital to assets
11.21%Core capital (leverage) ratio
10.63%Tier 1 risk-based capital ratio
14.72%Total risk-based capital ratio
Memoranda
$16Average assets
$143,551Average earning assets
$15,239Average equity
$137,511Average loans
List of branches
1 Washington Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
451732
Fortune Bank
1201 Third Avenue, Suite 700, Seattle, WA 98101
December 11, 2006
Full Service Brick and Mortar
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