FDIC Certificate #: 90038 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:WestStar Bank (#22572) Federal Reserve ID: 374251 Date Established: August 01, 1955 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 17679 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: November 09, 1987 Last Structure Change Effective Date: August 01, 1998 Last Structure Change Process Date: August 12, 1998 Last Data Update: August 12, 1998 Data Source Date: April 05, 2012
Location
Address: 1620 Grand Avenue, Glenwood Springs, CO 81601 County: Garfield 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
Financial Summary
Total assets: $29.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
15Total employees (full-time equivalent)
$28,905Total assets
$2,595Cash and due from depository institutions
$397Interest-bearing balances
$6,995Securities
$600Federal funds sold & reverse repurchase agreements
$17,430Net loans & leases
$214Loan loss allowance
$0Trading account assets
$994Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$291All other assets
$28,905Total liabilities and capital
$26,365Total liabilities
$26,120Total deposits
$21,435Interest-bearing deposits
$26,120Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$141Other borrowed funds
$0Subordinated debt
$104All other liabilities
$2,540Total equity capital
$2,540Total bank equity capital
$2,540Perpetual preferred stock
$0Common stock
$236Surplus
$550Undivided profits
Memoranda
$1,754Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$7Earning assets
$0Long-term assets (5+ years)
$123Average Assets, year-to-date
$25,422Average Assets, quarterly
$999Volatile liabilities
$26,787Insider loans
$28,407FHLB advances
$4,884Loans and leases held for sale
$339Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,696Total unused commitments
$0Restructured Loans and leases
$18,196Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$2,241Total interest income
$845Total interest expense
$1,396Net interest income
$0Provision for loan and lease losses
$450Total noninterest income
$0Fiduciary activities
$284Service charges on deposit accounts
$0Trading account gains & fees
$166Additional noninterest income
$1,123Total noninterest expense
$538Salaries and employee benefits
$165Premises and equipment expense
$420Additional noninterest expense
$723Pre-tax net operating income
$0Securities gains (losses)
$186Applicable income taxes
$537Income before extraordinary items
$0Extraordinary gains - net
$537Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$42Sale, conversion, retirement of capital stock, net
$150Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
9.46%Yield on earning assets
3.57%Cost of funding earning assets
5.89%Net interest margin
1.90%Noninterest income to earning assets
4.74%Noninterest expense to earning assets
2.00%Net operating income to assets
2.00%Return on assets (ROA)
2.70%Pretax return on assets
23.09%Return on equity (ROE)
16.64%Retained earnings to average equity (YTD only)
0.25%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
17.21%Efficiency ratio
60,834Assets per employee
1.93%Cash dividends to net income (YTD only)
Condition Ratios (%)
27.93%Loss allowance to loans
1.21%Loss allowance to noncurrent loans
3057.14%Noncurrent assets plus other real estate owned to assets
0.02%Noncurrent loans to loans
0.04%Net loans and leases to deposits
66.73%Net loans and leases to core deposits
82.08%Equity capital to assets
8.79%Core capital (leverage) ratio
8.88%Tier 1 risk-based capital ratio
13.94%Total risk-based capital ratio
Memoranda
$15Average assets
$26,787Average earning assets
$2,326Average equity
$23,687Average loans
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