FDIC Certificate #: 27372 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Venture Bank (#22868) Federal Reserve ID: 1219144 Date Established: October 25, 1988 WWW:http://www.redmondbank.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 3 (Interstate: No) OTS Docket #: 9660 FDIC's unique #: 39692 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: October 25, 1988 Last Structure Change Effective Date: September 03, 2005 Last Structure Change Process Date: September 20, 2005 Last Data Update: September 20, 2005 Data Source Date: April 05, 2012
Location
Address: 15801 N.E. 85th Street, Redmond, WA 98034 County: King 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): Seattle-Bellevue-Everett, WA (#7600) 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: Seattle-Bellevue-Everett, WA (#42644)
Financial Summary
Total assets: $117.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2004)
Dollar figures in thousands
26Total employees (full-time equivalent)
$103,657Total assets
$3,929Cash and due from depository institutions
$2,251Interest-bearing balances
$2,681Securities
$0Federal funds sold & reverse repurchase agreements
$93,706Net loans & leases
$1,210Loan loss allowance
$0Trading account assets
$1,628Bank premises and fixed assets
$155Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,558All other assets
$103,657Total liabilities and capital
$90,324Total liabilities
$88,871Total deposits
$76,709Interest-bearing deposits
$88,871Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,000Other borrowed funds
$0Subordinated debt
$453All other liabilities
$13,333Total equity capital
$13,333Total bank equity capital
$13,333Perpetual preferred stock
$0Common stock
$500Surplus
$6,760Undivided profits
Memoranda
$6,073Noncurrent loans and leases
$32,272Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,035Earning assets
$0Long-term assets (5+ years)
$415Average Assets, year-to-date
$98,638Average Assets, quarterly
$20,532Volatile liabilities
$99,780Insider loans
$101,454FHLB advances
$18,710Loans and leases held for sale
$1,266Unused loan commitments
$1,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$32,272Total unused commitments
$0Restructured Loans and leases
$1,210Derivatives
Income and Expense (December 31, 2004)
Dollar figures in thousands
$6,949Total interest income
$1,699Total interest expense
$5,250Net interest income
$460Provision for loan and lease losses
$268Total noninterest income
$0Fiduciary activities
$157Service charges on deposit accounts
$0Trading account gains & fees
$111Additional noninterest income
$3,259Total noninterest expense
$1,831Salaries and employee benefits
$457Premises and equipment expense
$971Additional noninterest expense
$1,799Pre-tax net operating income
$0Securities gains (losses)
$611Applicable income taxes
$1,188Income before extraordinary items
$0Extraordinary gains - net
$1,188Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$544Sale, conversion, retirement of capital stock, net
$180Net operating income
Performance and Condition Ratios (December 31, 2004)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.33%Yield on earning assets
1.79%Cost of funding earning assets
5.54%Net interest margin
0.28%Noninterest income to earning assets
3.44%Noninterest expense to earning assets
1.19%Net operating income to assets
1.19%Return on assets (ROA)
1.80%Pretax return on assets
9.30%Return on equity (ROE)
7.89%Retained earnings to average equity (YTD only)
0.59%Net charge-offs to loans
84.56%Credit loss provision to net charge-offs
4.15%Efficiency ratio
59,061Assets per employee
3.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
15.15%Loss allowance to loans
1.27%Loss allowance to noncurrent loans
116.91%Noncurrent assets plus other real estate owned to assets
1.15%Noncurrent loans to loans
1.09%Net loans and leases to deposits
105.44%Net loans and leases to core deposits
131.68%Equity capital to assets
12.86%Core capital (leverage) ratio
12.94%Tier 1 risk-based capital ratio
13.02%Total risk-based capital ratio
Memoranda
$14Average assets
$99,780Average earning assets
$12,773Average equity
$94,766Average loans
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