FDIC Certificate #: 35399 Status: Inactive Closing history: Corrections Acquiring institution:Citizens Bank (#17809) Federal Reserve ID: 2907046 Date Established: April 24, 2000 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 79504 Numeric code: 21 Regulator: FDIC 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: April 24, 2000 Last Structure Change Effective Date: Febuary 20, 2009 Last Structure Change Process Date: Febuary 23, 2009 Last Data Update: Febuary 23, 2009 Data Source Date: April 05, 2012
Location
Address: 217 East Main Street, Silverton, OR 97381 County: Marion Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Portland Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Salem, OR (#7080) Consolidated Metropolitan Statistical Area (CMSA): Portland-Salem, OR-WA (#79) Core Based Statistical Area (CBSA): Salem, OR (#41420) CBSA Metro Statistical Area: Salem, OR (#41420)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $134.2 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
33Total employees (full-time equivalent)
$134,206Total assets
$12,972Cash and due from depository institutions
$245Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$106,247Net loans & leases
$7,720Loan loss allowance
$0Trading account assets
$5,553Bank premises and fixed assets
$5,256Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$4,178All other assets
$134,206Total liabilities and capital
$131,321Total liabilities
$115,976Total deposits
$107,369Interest-bearing deposits
$115,976Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$15,000Other borrowed funds
$0Subordinated debt
$345All other liabilities
$2,885Total equity capital
$2,885Total bank equity capital
$2,885Perpetual preferred stock
$0Common stock
$6,867Surplus
$3,316Undivided profits
Memoranda
$-7,298Noncurrent loans and leases
$5,147Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$30,407Earning assets
$0Long-term assets (5+ years)
$546Average Assets, year-to-date
$106,492Average Assets, quarterly
$14,575Volatile liabilities
$142,830Insider loans
$140,604FHLB advances
$35,241Loans and leases held for sale
$214Unused loan commitments
$15,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,147Total unused commitments
$0Restructured Loans and leases
$1,415Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$10,070Total interest income
$4,845Total interest expense
$5,225Net interest income
$11,695Provision for loan and lease losses
$465Total noninterest income
$0Fiduciary activities
$161Service charges on deposit accounts
$0Trading account gains & fees
$304Additional noninterest income
$4,764Total noninterest expense
$2,319Salaries and employee benefits
$406Premises and equipment expense
$2,039Additional noninterest expense
-$10,769Pre-tax net operating income
$3Securities gains (losses)
-$1,609Applicable income taxes
-$9,157Income before extraordinary items
$0Extraordinary gains - net
-$9,157Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$5,514Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.94%Yield on earning assets
3.82%Cost of funding earning assets
4.12%Net interest margin
0.37%Noninterest income to earning assets
3.76%Noninterest expense to earning assets
-6.41%Net operating income to assets
-6.41%Return on assets (ROA)
-7.54%Pretax return on assets
-96.77%Return on equity (ROE)
-96.77%Retained earnings to average equity (YTD only)
4.26%Net charge-offs to loans
212.10%Credit loss provision to net charge-offs
0.17%Efficiency ratio
83,726Assets per employee
4.07%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
6.77%Loss allowance to noncurrent loans
25.39%Noncurrent assets plus other real estate owned to assets
26.57%Noncurrent loans to loans
26.68%Net loans and leases to deposits
91.61%Net loans and leases to core deposits
122.50%Equity capital to assets
2.15%Core capital (leverage) ratio
2.05%Tier 1 risk-based capital ratio
2.60%Total risk-based capital ratio
Memoranda
$4Average assets
$142,830Average earning assets
$9,463Average equity
$126,828Average loans
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