SUNWEST Bank of Farmington in Farmington, New Mexico (NM)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 15, 1997

SUNWEST Bank of Farmington in Farmington, New Mexico (NM)
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SUNWEST Bank of Farmington - Overview

General
FDIC Certificate #: 21905
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: SUNWEST Bank of Albuquerque, National Association (#2234)
Federal Reserve ID: 977755
Date Established: January 23, 1975
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
FDIC's unique #: 15180
Numeric code: 21
Regulator: FDIC
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: January 23, 1975
Last Structure Change Effective Date: August 15, 1997
Last Structure Change Process Date: September 02, 1997
Last Data Update: September 02, 1997
Data Source Date: April 05, 2012
Location
Address: 2200 East Main Street, Farmington, NM 87401
County: San Juan
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Atlanta
FDIC Field Office: Albuquerque
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Farmington, NM (#22140)
CBSA Metro Statistical Area: Farmington, NM (#22140)
Financial Summary
Total assets: $92.0 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$51Total assets
$81,847Cash and due from depository institutions
$4,781Interest-bearing balances
$0Securities
$33,069Federal funds sold & reverse repurchase agreements
$9,810Net loans & leases
$30,921Loan loss allowance
$979Trading account assets
$0Bank premises and fixed assets
$2,186Other real estate owned
$0Goodwill and other intangibles
$1,080Life insurance assets
$0All other assets
$0Total liabilities and capital
$81,847Total liabilities
$75,392Total deposits
$70,955Interest-bearing deposits
$56,822Deposits held in domestic offices
70955.00%% insured (estimated)
$93Federal funds purchased & repurchase agreements
$3,920Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$517Total equity capital
$517Total bank equity capital
$6,455Perpetual preferred stock
$0Common stock
$1,750Surplus
$2,500Undivided profits
Memoranda
$2,205Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$185Income earned, not collected on loans
$223Earning assets
$73,800Long-term assets (5+ years)
$24,726Average Assets, year-to-date
$80,072Average Assets, quarterly
$80,854Volatile liabilities
$11,207Insider loans
$1,034FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$4,790Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$6,471Total risk weighted assets
$40,109Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$5,750Total interest expense
$2,258Net interest income
$3,492Provision for loan and lease losses
$0Total noninterest income
$1,192Fiduciary activities
$0Service charges on deposit accounts
$911Trading account gains & fees
$0Additional noninterest income
$281Total noninterest expense
$3,098Salaries and employee benefits
$1,414Premises and equipment expense
$486Additional noninterest expense
$1,198Pre-tax net operating income
$1,586Securities gains (losses)
$0Applicable income taxes
$525Income before extraordinary items
$1,061Extraordinary gains - net
$0Net income attributable to bank
$1,061Net charge-offs
$110Cash dividends
$960Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.93%Cost of funding earning assets
3.12%Net interest margin
4.82%Noninterest income to earning assets
1.64%Noninterest expense to earning assets
4.27%Net operating income to assets
1.33%Return on assets (ROA)
1.33%Pretax return on assets
1.98%Return on equity (ROE)
16.80%Retained earnings to average equity (YTD only)
1.60%Net charge-offs to loans
0.33%Credit loss provision to net charge-offs
0.00%Efficiency ratio
66,140Assets per employee
1.60%Cash dividends to net income (YTD only)
Condition Ratios (%)
90.48%Loss allowance to loans
3.07%Loss allowance to noncurrent loans
529.19%Noncurrent assets plus other real estate owned to assets
0.23%Noncurrent loans to loans
0.58%Net loans and leases to deposits
43.58%Net loans and leases to core deposits
48.57%Equity capital to assets
7.89%Core capital (leverage) ratio
7.98%Tier 1 risk-based capital ratio
16.13%Total risk-based capital ratio
Memoranda
$17Average assets
$80,072Average earning assets
$6,316Average equity
$72,470Average loans

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