FDIC Certificate #: 34485 Status: Inactive Closing history: Corrections Acquiring institution:MidFirst Bank (#4063) Federal Reserve ID: 2608790 Date Established: May 01, 1998 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 4 (Interstate: No) FDIC's unique #: 57676 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: May 01, 1998 Last Structure Change Effective Date: August 14, 2009 Last Structure Change Process Date: August 17, 2009 Last Data Update: August 17, 2009 Data Source Date: April 05, 2012
Location
Address: 3631 East Baseline Road, Gilbert, AZ 85234 County: Maricopa Quarterly Banking Profile Region: San Francisco FDIC Geographic Region: San Francisco FDIC Supervisory Region: San Francisco FDIC Field Office: Phoenix Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Phoenix-Mesa, AZ (#6200) Core Based Statistical Area (CBSA): Phoenix-Mesa-Glendale, AZ (#38060) CBSA Metro Statistical Area: Phoenix-Mesa-Glendale, AZ (#38060)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $119.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
20Total employees (full-time equivalent)
$136,145Total assets
$7,494Cash and due from depository institutions
$7,150Interest-bearing balances
$5,824Securities
$0Federal funds sold & reverse repurchase agreements
$89,844Net loans & leases
$4,951Loan loss allowance
$0Trading account assets
$15,032Bank premises and fixed assets
$11,459Other real estate owned
$0Goodwill and other intangibles
$1,000Life insurance assets
$6,492All other assets
$136,145Total liabilities and capital
$125,671Total liabilities
$119,049Total deposits
$112,861Interest-bearing deposits
$119,049Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$6,000Other borrowed funds
$0Subordinated debt
$622All other liabilities
$10,474Total equity capital
$10,474Total bank equity capital
$10,474Perpetual preferred stock
$0Common stock
$3,600Surplus
$9,461Undivided profits
Memoranda
$-2,587Noncurrent loans and leases
$9,229Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$10,159Earning assets
$0Long-term assets (5+ years)
$703Average Assets, year-to-date
$102,818Average Assets, quarterly
$35,569Volatile liabilities
$139,204Insider loans
$140,981FHLB advances
$37,179Loans and leases held for sale
$2,165Unused loan commitments
$6,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$9,229Total unused commitments
$0Restructured Loans and leases
$1,511Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$9,153Total interest income
$5,139Total interest expense
$4,014Net interest income
$7,342Provision for loan and lease losses
$359Total noninterest income
$0Fiduciary activities
$214Service charges on deposit accounts
$0Trading account gains & fees
$145Additional noninterest income
$3,540Total noninterest expense
$1,582Salaries and employee benefits
$403Premises and equipment expense
$1,555Additional noninterest expense
-$6,509Pre-tax net operating income
$0Securities gains (losses)
-$2,475Applicable income taxes
-$4,034Income before extraordinary items
$0Extraordinary gains - net
-$4,034Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$4,585Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.85%Yield on earning assets
4.41%Cost of funding earning assets
3.44%Net interest margin
0.31%Noninterest income to earning assets
3.03%Noninterest expense to earning assets
-2.90%Net operating income to assets
-2.90%Return on assets (ROA)
-4.68%Pretax return on assets
-33.26%Return on equity (ROE)
-33.26%Retained earnings to average equity (YTD only)
4.07%Net charge-offs to loans
160.13%Credit loss provision to net charge-offs
0.18%Efficiency ratio
80,951Assets per employee
6.81%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.22%Loss allowance to noncurrent loans
48.74%Noncurrent assets plus other real estate owned to assets
15.88%Noncurrent loans to loans
10.72%Net loans and leases to deposits
75.47%Net loans and leases to core deposits
102.25%Equity capital to assets
7.69%Core capital (leverage) ratio
6.25%Tier 1 risk-based capital ratio
7.66%Total risk-based capital ratio
Memoranda
$9Average assets
$139,204Average earning assets
$12,129Average equity
$116,659Average loans
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