FDIC Certificate #: 23930 Status: Inactive Closing history: Change in Geographic Region/Area/Territory/Field Office Acquiring institution:Bank United (#32640) Federal Reserve ID: 506557 Date Established: July 26, 1982 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 5 (Interstate: No) FDIC's unique #: 16702 Numeric code: 13 Regulator: FED 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: July 26, 1982 Last Structure Change Effective Date: Febuary 12, 1999 Last Structure Change Process Date: May 18, 1999 Last Data Update: May 18, 1999 Data Source Date: April 05, 2012
Location
Address: 401 West Texas Avenue, Suite 100, Midland, TX 79701 County: Midland Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Lubbock Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Odessa-Midland, TX (#5800) Combined Statistical Area (CSA): Midland-Odessa, TX (#372) Core Based Statistical Area (CBSA): Midland, TX (#33260) CBSA Metro Statistical Area: Midland, TX (#33260)
History of Changes
Merger - Without Assistance
Change in Geographic Region/Area/Territory/Field Office
Financial Summary
Total assets: $227.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
110Total employees (full-time equivalent)
$227,030Total assets
$12,595Cash and due from depository institutions
$0Interest-bearing balances
$52,524Securities
$12,725Federal funds sold & reverse repurchase agreements
$140,736Net loans & leases
$2,447Loan loss allowance
$0Trading account assets
$2,893Bank premises and fixed assets
$122Other real estate owned
$983Goodwill and other intangibles
$0Life insurance assets
$4,452All other assets
$227,030Total liabilities and capital
$207,890Total liabilities
$204,009Total deposits
$154,517Interest-bearing deposits
$204,009Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$3,881All other liabilities
$19,140Total equity capital
$19,140Total bank equity capital
$19,140Perpetual preferred stock
$0Common stock
$1,250Surplus
$14,750Undivided profits
Memoranda
$3,140Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$824Earning assets
$0Long-term assets (5+ years)
$1,368Average Assets, year-to-date
$205,985Average Assets, quarterly
$41,886Volatile liabilities
$229,162Insider loans
$226,083FHLB advances
$45,159Loans and leases held for sale
$1,702Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$17,436Total unused commitments
$0Restructured Loans and leases
$165,342Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$19,361Total interest income
$7,304Total interest expense
$12,057Net interest income
$1,010Provision for loan and lease losses
$1,543Total noninterest income
$0Fiduciary activities
$1,074Service charges on deposit accounts
$0Trading account gains & fees
$469Additional noninterest income
$8,437Total noninterest expense
$5,751Salaries and employee benefits
$992Premises and equipment expense
$1,694Additional noninterest expense
$4,153Pre-tax net operating income
$1Securities gains (losses)
$1,363Applicable income taxes
$2,791Income before extraordinary items
$0Extraordinary gains - net
$2,791Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$488Sale, conversion, retirement of capital stock, net
$1,029Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
9.35%Yield on earning assets
3.53%Cost of funding earning assets
5.82%Net interest margin
0.75%Noninterest income to earning assets
4.07%Noninterest expense to earning assets
1.22%Net operating income to assets
1.22%Return on assets (ROA)
1.81%Pretax return on assets
14.97%Return on equity (ROE)
9.45%Retained earnings to average equity (YTD only)
0.34%Net charge-offs to loans
206.97%Credit loss provision to net charge-offs
10.58%Efficiency ratio
61,456Assets per employee
2.06%Cash dividends to net income (YTD only)
Condition Ratios (%)
36.87%Loss allowance to loans
1.71%Loss allowance to noncurrent loans
296.97%Noncurrent assets plus other real estate owned to assets
0.42%Noncurrent loans to loans
0.58%Net loans and leases to deposits
68.99%Net loans and leases to core deposits
88.60%Equity capital to assets
8.43%Core capital (leverage) ratio
8.02%Tier 1 risk-based capital ratio
10.90%Total risk-based capital ratio
Memoranda
$12Average assets
$229,162Average earning assets
$18,649Average equity
$207,070Average loans
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