FDIC Certificate #: 513 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Columbia State Bank (#33826) Federal Reserve ID: 124773 Date Established: January 01, 1914 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 10058 FDIC's unique #: 369 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: January 01, 1934 Last Structure Change Effective Date: May 20, 2011 Last Structure Change Process Date: May 23, 2011 Last Data Update: May 23, 2011 Data Source Date: April 05, 2012
Location
Address: 723 Haggen Drive, Burlington, WA 98233 County: Skagit 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 Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Mount Vernon-Anacortes, WA (#34580) CBSA Metro Statistical Area: Mount Vernon-Anacortes, WA (#34580)
Financial Summary
Total assets: $142.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
36Total employees (full-time equivalent)
$146,564Total assets
$17,746Cash and due from depository institutions
$16,873Interest-bearing balances
$4,104Securities
$893Federal funds sold & reverse repurchase agreements
$111,167Net loans & leases
$3,553Loan loss allowance
$0Trading account assets
$6,261Bank premises and fixed assets
$4,226Other real estate owned
$206Goodwill and other intangibles
$0Life insurance assets
$1,961All other assets
$146,564Total liabilities and capital
$140,348Total liabilities
$131,974Total deposits
$125,301Interest-bearing deposits
$131,974Deposits held in domestic offices
97.48%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,220Other borrowed funds
$0Subordinated debt
$154All other liabilities
$6,216Total equity capital
$6,216Total bank equity capital
$6,216Perpetual preferred stock
$0Common stock
$403Surplus
$13,968Undivided profits
Memoranda
$-8,155Noncurrent loans and leases
$6,188Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$9,704Earning assets
$161Long-term assets (5+ years)
$511Average Assets, year-to-date
$133,037Average Assets, quarterly
$10,149Volatile liabilities
$152,795Insider loans
$151,280FHLB advances
$33,360Loans and leases held for sale
$3,985Unused loan commitments
$8,220Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,188Total unused commitments
$11,788Restructured Loans and leases
$1,595Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$8,638Total interest income
$2,217Total interest expense
$6,421Net interest income
$8,298Provision for loan and lease losses
-$1,336Total noninterest income
$0Fiduciary activities
$153Service charges on deposit accounts
$0Trading account gains & fees
-$1,489Additional noninterest income
$5,639Total noninterest expense
$2,157Salaries and employee benefits
$442Premises and equipment expense
$3,040Additional noninterest expense
-$8,852Pre-tax net operating income
$0Securities gains (losses)
-$171Applicable income taxes
-$8,681Income before extraordinary items
$0Extraordinary gains - net
-$8,681Net income attributable to bank
$0Net charge-offs
-$8,681Cash dividends
$6,125Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.24%Yield on earning assets
1.60%Cost of funding earning assets
4.64%Net interest margin
-0.97%Noninterest income to earning assets
4.07%Noninterest expense to earning assets
-5.68%Net operating income to assets
-5.68%Return on assets (ROA)
-5.79%Pretax return on assets
-78.80%Return on equity (ROE)
-78.80%Retained earnings to average equity (YTD only)
5.05%Net charge-offs to loans
135.48%Credit loss provision to net charge-offs
-0.09%Efficiency ratio
96,853Assets per employee
4.07%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.10%Loss allowance to noncurrent loans
36.61%Noncurrent assets plus other real estate owned to assets
9.50%Noncurrent loans to loans
8.46%Net loans and leases to deposits
84.23%Net loans and leases to core deposits
105.54%Equity capital to assets
4.24%Core capital (leverage) ratio
3.94%Tier 1 risk-based capital ratio
4.72%Total risk-based capital ratio
Memoranda
$6Average assets
$152,795Average earning assets
$11,016Average equity
$138,445Average loans
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