Norwest Bank Montrose, National Association in Montrose, Colorado (CO)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 1995

Norwest Bank Montrose, National Association in Montrose, Colorado (CO)
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Norwest Bank Montrose, National Association - Overview

General
FDIC Certificate #: 3042
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Wells Fargo Bank West, National Association (#3011)
Federal Reserve ID: 583558
Date Established: January 01, 1889
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 1 (Interstate: No)
FDIC's unique #: 1937
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 01, 1995
Last Structure Change Process Date: January 12, 1995
Last Data Update: January 12, 1995
Data Source Date: April 05, 2012
Location
Address: Main Street, Montrose, CO 81401
County: Montrose
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): Montrose, CO (#33940)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $149.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$52Total assets
$149,741Cash and due from depository institutions
$5,962Interest-bearing balances
$1,740Securities
$53,290Federal funds sold & reverse repurchase agreements
$6,800Net loans & leases
$79,805Loan loss allowance
$3,001Trading account assets
$0Bank premises and fixed assets
$1,448Other real estate owned
$0Goodwill and other intangibles
$2,436Life insurance assets
$0All other assets
$0Total liabilities and capital
$149,741Total liabilities
$143,428Total deposits
$141,139Interest-bearing deposits
$120,963Deposits held in domestic offices
141139.00%% insured (estimated)
$83Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$2,289Total equity capital
$2,289Total bank equity capital
$6,313Perpetual preferred stock
$0Common stock
$1,000Surplus
$1,000Undivided profits
Memoranda
$4,313Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,540Income earned, not collected on loans
$772Earning assets
$141,635Long-term assets (5+ years)
$51,036Average Assets, year-to-date
$149,565Average Assets, quarterly
$150,673Volatile liabilities
$7,882Insider loans
$0FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$13,146Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$8,581Total risk weighted assets
$89,425Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$11,397Total interest expense
$3,637Net interest income
$7,760Provision for loan and lease losses
-$753Total noninterest income
$916Fiduciary activities
$0Service charges on deposit accounts
$549Trading account gains & fees
$0Additional noninterest income
$367Total noninterest expense
$5,108Salaries and employee benefits
$1,790Premises and equipment expense
$499Additional noninterest expense
$2,819Pre-tax net operating income
$4,321Securities gains (losses)
-$259Applicable income taxes
$1,413Income before extraordinary items
$2,649Extraordinary gains - net
$0Net income attributable to bank
$2,649Net charge-offs
-$459Cash dividends
$2,350Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.09%Cost of funding earning assets
2.58%Net interest margin
5.51%Noninterest income to earning assets
0.65%Noninterest expense to earning assets
3.62%Net operating income to assets
1.88%Return on assets (ROA)
1.77%Pretax return on assets
2.72%Return on equity (ROE)
33.10%Retained earnings to average equity (YTD only)
3.74%Net charge-offs to loans
-0.58%Credit loss provision to net charge-offs
164.05%Efficiency ratio
58,875Assets per employee
2.88%Cash dividends to net income (YTD only)
Condition Ratios (%)
88.71%Loss allowance to loans
3.62%Loss allowance to noncurrent loans
194.87%Noncurrent assets plus other real estate owned to assets
1.03%Noncurrent loans to loans
1.86%Net loans and leases to deposits
56.54%Net loans and leases to core deposits
59.89%Equity capital to assets
4.22%Core capital (leverage) ratio
5.70%Tier 1 risk-based capital ratio
9.60%Total risk-based capital ratio
Memoranda
$11Average assets
$149,565Average earning assets
$8,003Average equity
$140,914Average loans

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