FDIC Certificate #: 57769 Status: Active Federal Reserve ID: 3296149 Date Established: September 27, 2004 WWW:http://www.target.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 424229 Numeric code: 23 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion Date of Deposit Insurance: September 27, 2004 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 299 South Main Street, 20th Floor, Salt Lake City, UT 84111 County: Salt Lake Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: Kansas City FDIC Field Office: Salt Lake City Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160) Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482) Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620) CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $92.8 mil Equity capital: $18.4 mil Deposits held in domestic offices: $58.4 mil Return on assets (ROA): 9.45% ($8.8 mil) Quarterly return on assets: 11.37% ($10.6 mil) Return on Equity (ROE): 31.69% ($5.7 mil) Quarterly return on equity: 42.76% ($7.7 mil) Net income: $5.4 mil Quarterly Net income: $1.9 mil Pretax return on assets: 15.41% ($14,306.2 mil) Quarterly Pretax return on assets: 19.04% ($17,676.2 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2011)
Dollar figures in thousands
22Total employees (full-time equivalent)
$92,837Total assets
$68,861Cash and due from depository institutions
$0Interest-bearing balances
$14,516Securities
$0Federal funds sold & reverse repurchase agreements
$4,943Net loans & leases
$102Loan loss allowance
$0Trading account assets
$102Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$92,837Life insurance assets
$4,415All other assets
$74,395Total liabilities and capital
$58,396Total liabilities
$26,161Total deposits
$58,396Interest-bearing deposits
$56Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$11,021Trading liabilities
$0Other borrowed funds
$4,978Subordinated debt
$18,442All other liabilities
$18,442Total equity capital
$18,442Total bank equity capital
$0Perpetual preferred stock
$1Common stock
$15,417Surplus
$3,024Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$20Income earned, not collected on loans
$0Earning assets
$25Long-term assets (5+ years)
$19,459Average Assets, year-to-date
$0Average Assets, quarterly
$56,949Volatile liabilities
$67,592Insider loans
$30,547FHLB advances
$64,526Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$18,442Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$20,917Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$156Total interest income
$39Total interest expense
$117Net interest income
$14Provision for loan and lease losses
$14,399Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$14,399Additional noninterest income
$5,726Total noninterest expense
$1,297Salaries and employee benefits
$216Premises and equipment expense
$4,213Additional noninterest expense
$8,776Pre-tax net operating income
$0Securities gains (losses)
$3,392Applicable income taxes
$5,384Income before extraordinary items
$0Extraordinary gains - net
$5,384Net income attributable to bank
$0Net charge-offs
$5,384Cash dividends
$41Sale, conversion, retirement of capital stock, net
$2,000Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
0.86%Yield on earning assets
0.21%Cost of funding earning assets
0.64%Net interest margin
79.35%Noninterest income to earning assets
31.56%Noninterest expense to earning assets
9.45%Net operating income to assets
9.45%Return on assets (ROA)
15.41%Pretax return on assets
31.69%Return on equity (ROE)
19.92%Retained earnings to average equity (YTD only)
0.99%Net charge-offs to loans
34.15%Credit loss provision to net charge-offs
214.39%Efficiency ratio
39,446Assets per employee
4.22%Cash dividends to net income (YTD only)
Condition Ratios (%)
37.15%Loss allowance to loans
2.02%Loss allowance to noncurrent loans
510.00%Noncurrent assets plus other real estate owned to assets
0.02%Noncurrent loans to loans
0.40%Net loans and leases to deposits
8.46%Net loans and leases to core deposits
8.51%Equity capital to assets
19.86%Core capital (leverage) ratio
28.58%Tier 1 risk-based capital ratio
60.37%Total risk-based capital ratio
Memoranda
$61Average assets
$56,949Average earning assets
$16,990Average equity
$18,146Average loans
List of branches
1 Utah Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
424229
Target Bank
299 South Main Street, 20th Floor, Salt Lake City, UT 84111
September 27, 2004
Full Service Brick and Mortar
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