Wasatch Bank in Orem, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 29, 1993

Wasatch Bank in Orem, Utah (UT)
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Wasatch Bank - Overview

General
FDIC Certificate #: 20631
Status: Inactive
Closing history: Corrections
Acquiring institution: Zions First National Bank (#2270)
Federal Reserve ID: 339278
Date Established: March 09, 1972
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
OTS Docket #: 10438
FDIC's unique #: 14240
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: March 09, 1972
Last Structure Change Effective Date: October 29, 1993
Last Structure Change Process Date: December 27, 1993
Last Data Update: January 10, 1994
Data Source Date: April 05, 2012
Location
Address: 1220 South 800 East, Orem, UT 84057
County: Utah
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
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): Provo-Orem, UT (#6520)
Core Based Statistical Area (CBSA): Provo-Orem, UT (#39340)
CBSA Metro Statistical Area: Provo-Orem, UT (#39340)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $70.9 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$56Total assets
$68,275Cash and due from depository institutions
$4,549Interest-bearing balances
$98Securities
$6,692Federal funds sold & reverse repurchase agreements
$9,625Net loans & leases
$45,352Loan loss allowance
$546Trading account assets
$0Bank premises and fixed assets
$1,220Other real estate owned
$162Goodwill and other intangibles
$675Life insurance assets
$0All other assets
$0Total liabilities and capital
$68,275Total liabilities
$62,630Total deposits
$61,647Interest-bearing deposits
$43,953Deposits held in domestic offices
61647.00%% insured (estimated)
$84Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$23Subordinated debt
$0All other liabilities
$960Total equity capital
$960Total bank equity capital
$5,645Perpetual preferred stock
$0Common stock
$485Surplus
$2,763Undivided profits
Memoranda
$2,397Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$215Income earned, not collected on loans
$341Earning assets
$61,767Long-term assets (5+ years)
$4,509Average Assets, year-to-date
$63,965Average Assets, quarterly
$68,687Volatile liabilities
$1,219Insider loans
$1,039FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$14,988Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$5,645Total risk weighted assets
$46,647Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$6,339Total interest expense
$1,821Net interest income
$4,518Provision for loan and lease losses
$157Total noninterest income
$1,196Fiduciary activities
$0Service charges on deposit accounts
$835Trading account gains & fees
$0Additional noninterest income
$361Total noninterest expense
$3,296Salaries and employee benefits
$1,652Premises and equipment expense
$580Additional noninterest expense
$1,064Pre-tax net operating income
$2,261Securities gains (losses)
$0Applicable income taxes
$821Income before extraordinary items
$1,440Extraordinary gains - net
$0Net income attributable to bank
$1,440Net charge-offs
$51Cash dividends
$470Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
11.01%Cost of funding earning assets
3.16%Net interest margin
7.85%Noninterest income to earning assets
2.08%Noninterest expense to earning assets
5.73%Net operating income to assets
2.25%Return on assets (ROA)
2.25%Pretax return on assets
3.53%Return on equity (ROE)
28.49%Retained earnings to average equity (YTD only)
19.19%Net charge-offs to loans
0.11%Credit loss provision to net charge-offs
307.84%Efficiency ratio
57,683Assets per employee
1.22%Cash dividends to net income (YTD only)
Condition Ratios (%)
32.64%Loss allowance to loans
1.19%Loss allowance to noncurrent loans
253.95%Noncurrent assets plus other real estate owned to assets
0.55%Noncurrent loans to loans
0.47%Net loans and leases to deposits
73.57%Net loans and leases to core deposits
75.05%Equity capital to assets
8.27%Core capital (leverage) ratio
8.60%Tier 1 risk-based capital ratio
12.10%Total risk-based capital ratio
Memoranda
$13Average assets
$63,965Average earning assets
$5,055Average equity
$57,569Average loans

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