FDIC Certificate #: 58642 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:Verus Bank of Commerce (#58025) Federal Reserve ID: 3591013 Date Established: October 05, 2007 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 460990 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: October 05, 2007 Last Structure Change Effective Date: Febuary 12, 2011 Last Structure Change Process Date: Febuary 16, 2011 Last Data Update: Febuary 16, 2011 Data Source Date: April 05, 2012
Location
Address: 102 East 29th Street, Loveland, CO 80538 County: Larimer 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 Metropolitan Statistical Area (MSA): Fort Collins-Loveland, CO (#2670) Core Based Statistical Area (CBSA): Fort Collins-Loveland, CO (#22660) CBSA Metro Statistical Area: Fort Collins-Loveland, CO (#22660)
Financial Summary
Total assets: $42.9 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
5Total employees (full-time equivalent)
$42,899Total assets
$4,564Cash and due from depository institutions
$4,036Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$37,481Net loans & leases
$544Loan loss allowance
$0Trading account assets
$255Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$599All other assets
$42,899Total liabilities and capital
$36,270Total liabilities
$36,184Total deposits
$35,135Interest-bearing deposits
$36,184Deposits held in domestic offices
88.62%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$86All other liabilities
$6,629Total equity capital
$6,629Total bank equity capital
$6,629Perpetual preferred stock
$0Common stock
$4,000Surplus
$4,000Undivided profits
Memoranda
$-1,371Noncurrent loans and leases
$2,145Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$700Earning assets
$0Long-term assets (5+ years)
$159Average Assets, year-to-date
$41,517Average Assets, quarterly
$6,906Volatile liabilities
$40,873Insider loans
$41,681FHLB advances
$2,773Loans and leases held for sale
$2,324Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,145Total unused commitments
$0Restructured Loans and leases
$471Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$2,272Total interest income
$730Total interest expense
$1,542Net interest income
$279Provision for loan and lease losses
$148Total noninterest income
$0Fiduciary activities
$16Service charges on deposit accounts
$0Trading account gains & fees
$132Additional noninterest income
$1,155Total noninterest expense
$306Salaries and employee benefits
$183Premises and equipment expense
$666Additional noninterest expense
$256Pre-tax net operating income
$0Securities gains (losses)
-$129Applicable income taxes
$385Income before extraordinary items
$0Extraordinary gains - net
$385Net income attributable to bank
$0Net charge-offs
$385Cash dividends
$295Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.78%Yield on earning assets
1.86%Cost of funding earning assets
3.92%Net interest margin
0.38%Noninterest income to earning assets
2.94%Noninterest expense to earning assets
0.94%Net operating income to assets
0.94%Return on assets (ROA)
0.63%Pretax return on assets
6.02%Return on equity (ROE)
6.02%Retained earnings to average equity (YTD only)
0.84%Net charge-offs to loans
94.58%Credit loss provision to net charge-offs
1.81%Efficiency ratio
68,343Assets per employee
8.58%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.43%Loss allowance to noncurrent loans
77.71%Noncurrent assets plus other real estate owned to assets
1.63%Noncurrent loans to loans
1.84%Net loans and leases to deposits
103.58%Net loans and leases to core deposits
112.18%Equity capital to assets
15.45%Core capital (leverage) ratio
16.32%Tier 1 risk-based capital ratio
17.64%Total risk-based capital ratio
Memoranda
$19Average assets
$40,873Average earning assets
$6,392Average equity
$39,296Average loans
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