FDIC Certificate #: 34411 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Heritage Bank (#29012) Federal Reserve ID: 2453132 Date Established: December 08, 1997 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Interstate: No) FDIC's unique #: 57174 Numeric code: 13 Regulator: FED 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: December 08, 1997 Last Structure Change Effective Date: November 05, 2010 Last Structure Change Process Date: November 08, 2010 Last Data Update: November 08, 2010 Data Source Date: April 05, 2012
Location
Address: 1722 South Union Avenue, Tacoma, WA 98405 County: Pierce 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): Tacoma, WA (#8200) 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: Tacoma, WA (#45104)
Financial Summary
Total assets: $221.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
32Total employees (full-time equivalent)
$262,114Total assets
$55,044Cash and due from depository institutions
$51,839Interest-bearing balances
$7,114Securities
$0Federal funds sold & reverse repurchase agreements
$188,173Net loans & leases
$7,974Loan loss allowance
$0Trading account assets
$1,001Bank premises and fixed assets
$1,875Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$8,907All other assets
$262,114Total liabilities and capital
$252,873Total liabilities
$228,078Total deposits
$200,231Interest-bearing deposits
$228,078Deposits held in domestic offices
86.40%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$17,277Other borrowed funds
$0Subordinated debt
$7,518All other liabilities
$9,241Total equity capital
$9,241Total bank equity capital
$9,241Perpetual preferred stock
$0Common stock
$9,071Surplus
$8,202Undivided profits
Memoranda
$-8,032Noncurrent loans and leases
$31,085Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$8,920Earning assets
$0Long-term assets (5+ years)
$754Average Assets, year-to-date
$247,126Average Assets, quarterly
$6,210Volatile liabilities
$268,454Insider loans
$260,372FHLB advances
$84,179Loans and leases held for sale
$2,172Unused loan commitments
$17,277Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$31,085Total unused commitments
$350Restructured Loans and leases
$2,453Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$13,630Total interest income
$5,162Total interest expense
$8,468Net interest income
$12,591Provision for loan and lease losses
$8,331Total noninterest income
$0Fiduciary activities
$221Service charges on deposit accounts
$0Trading account gains & fees
$8,110Additional noninterest income
$29,238Total noninterest expense
$7,627Salaries and employee benefits
$1,051Premises and equipment expense
$20,560Additional noninterest expense
-$25,030Pre-tax net operating income
$92Securities gains (losses)
-$5,226Applicable income taxes
-$19,712Income before extraordinary items
$0Extraordinary gains - net
-$19,712Net income attributable to bank
$0Net charge-offs
-$19,712Cash dividends
$7,666Sale, conversion, retirement of capital stock, net
$300Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.32%Yield on earning assets
2.01%Cost of funding earning assets
3.30%Net interest margin
3.25%Noninterest income to earning assets
11.40%Noninterest expense to earning assets
-7.37%Net operating income to assets
-7.34%Return on assets (ROA)
-9.29%Pretax return on assets
-92.03%Return on equity (ROE)
-93.43%Retained earnings to average equity (YTD only)
3.46%Net charge-offs to loans
164.24%Credit loss provision to net charge-offs
-1.62%Efficiency ratio
174,046Assets per employee
8.19%Cash dividends to net income (YTD only)
Condition Ratios (%)
-1.52%Loss allowance to loans
4.07%Loss allowance to noncurrent loans
89.39%Noncurrent assets plus other real estate owned to assets
4.12%Noncurrent loans to loans
4.55%Net loans and leases to deposits
82.50%Net loans and leases to core deposits
130.77%Equity capital to assets
3.53%Core capital (leverage) ratio
2.38%Tier 1 risk-based capital ratio
3.48%Total risk-based capital ratio
Memoranda
$5Average assets
$268,454Average earning assets
$21,419Average equity
$256,404Average loans
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