FDIC Certificate #: 57862 Status: Active Federal Reserve ID: 3308145 Date Established: October 29, 2004 WWW:http://www.thurstonfirstbank.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 #: 428506 Numeric code: 21 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: Commercial Lending Specialization Date of Deposit Insurance: October 29, 2004 Last Structure Change Effective Date: September 25, 2009 Last Structure Change Process Date: September 25, 2009 Last Data Update: September 25, 2009 Data Source Date: April 05, 2012
Location
Address: 204 Pear St Ne, Olympia, WA 98506 County: Thurston 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): Olympia, WA (#5910) Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91) Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500) Core Based Statistical Area (CBSA): Olympia, WA (#36500) CBSA Metro Statistical Area: Olympia, WA (#36500)
History of Changes
Change in Location
Financial Summary
Total assets: $105.6 mil Equity capital: $10.2 mil Deposits held in domestic offices: $86.0 mil Return on assets (ROA): -0.33% (-$0.3 mil) Quarterly return on assets: -0.83% (-$0.9 mil) Return on Equity (ROE): -3.48% (-$0.3 mil) Quarterly return on equity: -8.57% (-$0.9 mil) Net income: -$0.4 mil Quarterly Net income: -$0.2 mil Pretax return on assets: -0.53% (-$559.7 mil) Quarterly Pretax return on assets: -1.29% (-$1,362.4 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
16Total employees (full-time equivalent)
$105,613Total assets
$5,808Cash and due from depository institutions
$4,912Interest-bearing balances
$14,207Securities
$104Federal funds sold & reverse repurchase agreements
$78,940Net loans & leases
$1,877Loan loss allowance
$0Trading account assets
$90Bank premises and fixed assets
$1,323Other real estate owned
$0Goodwill and other intangibles
$105,613Life insurance assets
$5,141All other assets
$95,365Total liabilities and capital
$86,041Total liabilities
$75,024Total deposits
$86,041Interest-bearing deposits
$88Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$9,042Trading liabilities
$0Other borrowed funds
$282Subordinated debt
$10,248All other liabilities
$10,248Total equity capital
$10,248Total bank equity capital
$0Perpetual preferred stock
$1,352Common stock
$11,326Surplus
$-2,430Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$5,673Income earned, not collected on loans
$0Earning assets
$579Long-term assets (5+ years)
$98,163Average Assets, year-to-date
$48,813Average Assets, quarterly
$110,205Volatile liabilities
$106,675Insider loans
$63,489FHLB advances
$104,913Loans and leases held for sale
$1,775Unused loan commitments
$1,775Tier 1 (core) risk-based capital
$8,977Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$5,644Restructured Loans and leases
$1,239Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$5,703Total interest income
$1,729Total interest expense
$3,974Net interest income
$2,017Provision for loan and lease losses
$169Total noninterest income
$0Fiduciary activities
$64Service charges on deposit accounts
$0Trading account gains & fees
$105Additional noninterest income
$2,707Total noninterest expense
$1,281Salaries and employee benefits
$137Premises and equipment expense
$1,289Additional noninterest expense
-$581Pre-tax net operating income
$0Securities gains (losses)
-$222Applicable income taxes
-$359Income before extraordinary items
$0Extraordinary gains - net
-$359Net income attributable to bank
$0Net charge-offs
-$359Cash dividends
$1,519Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.52%Yield on earning assets
1.67%Cost of funding earning assets
3.85%Net interest margin
0.16%Noninterest income to earning assets
2.62%Noninterest expense to earning assets
-0.33%Net operating income to assets
-0.33%Return on assets (ROA)
-0.53%Pretax return on assets
-3.48%Return on equity (ROE)
-3.48%Retained earnings to average equity (YTD only)
1.78%Net charge-offs to loans
132.78%Credit loss provision to net charge-offs
0.95%Efficiency ratio
65,339Assets per employee
6.60%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.32%Loss allowance to noncurrent loans
33.09%Noncurrent assets plus other real estate owned to assets
6.62%Noncurrent loans to loans
7.02%Net loans and leases to deposits
91.75%Net loans and leases to core deposits
121.09%Equity capital to assets
9.70%Core capital (leverage) ratio
8.56%Tier 1 risk-based capital ratio
14.14%Total risk-based capital ratio
Memoranda
$15Average assets
$110,205Average earning assets
$10,318Average equity
$103,321Average loans
List of branches
1 Washington Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
428506
Thurston First Bank
204 Pear St Ne, Olympia, WA 98506
October 29, 2004
Full Service Brick and Mortar
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