FDIC Certificate #: 28978 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Federation Bank (#14352) Federal Reserve ID: 872878 Date Established: June 01, 1934 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 2715 FDIC's unique #: 41812 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: No Date of Deposit Insurance: November 13, 1934 Last Structure Change Effective Date: April 15, 2003 Last Structure Change Process Date: April 22, 2003 Last Data Update: April 22, 2003 Data Source Date: April 05, 2012
Location
Address: 102 East Main St, Washington, IA 52353 County: Washington Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Cedar Rapids Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Core Based Statistical Area (CBSA): Iowa City, IA (#26980) CBSA Metro Statistical Area: Iowa City, IA (#26980)
Financial Summary
Total assets: $97.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2002)
Dollar figures in thousands
33Total employees (full-time equivalent)
$99,420Total assets
$4,452Cash and due from depository institutions
$3,799Interest-bearing balances
$18,506Securities
$2,932Federal funds sold & reverse repurchase agreements
$68,115Net loans & leases
$500Loan loss allowance
$0Trading account assets
$1,836Bank premises and fixed assets
$533Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$3,046All other assets
$99,420Total liabilities and capital
$91,703Total liabilities
$65,716Total deposits
$62,198Interest-bearing deposits
$65,716Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$25,329Other borrowed funds
$0Subordinated debt
$658All other liabilities
$7,717Total equity capital
$7,717Total bank equity capital
$7,717Perpetual preferred stock
$0Common stock
$0Surplus
$3,803Undivided profits
Memoranda
$3,914Noncurrent loans and leases
$5,285Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,646Earning assets
$0Long-term assets (5+ years)
$1,059Average Assets, year-to-date
$93,352Average Assets, quarterly
$0Volatile liabilities
$96,012Insider loans
$98,792FHLB advances
$38,784Loans and leases held for sale
$460Unused loan commitments
$25,329Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,285Total unused commitments
$0Restructured Loans and leases
$500Derivatives
Income and Expense (December 31, 2002)
Dollar figures in thousands
$6,257Total interest income
$3,532Total interest expense
$2,725Net interest income
$690Provision for loan and lease losses
$596Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$596Additional noninterest income
$2,504Total noninterest expense
$1,437Salaries and employee benefits
$485Premises and equipment expense
$582Additional noninterest expense
$127Pre-tax net operating income
$81Securities gains (losses)
$35Applicable income taxes
$173Income before extraordinary items
$0Extraordinary gains - net
$173Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$686Sale, conversion, retirement of capital stock, net
$906Net operating income
Performance and Condition Ratios (December 31, 2002)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.87%Yield on earning assets
3.88%Cost of funding earning assets
2.99%Net interest margin
0.65%Noninterest income to earning assets
2.75%Noninterest expense to earning assets
0.11%Net operating income to assets
0.18%Return on assets (ROA)
0.22%Pretax return on assets
2.14%Return on equity (ROE)
-9.08%Retained earnings to average equity (YTD only)
0.99%Net charge-offs to loans
100.58%Credit loss provision to net charge-offs
1.19%Efficiency ratio
75,399Assets per employee
3.01%Cash dividends to net income (YTD only)
Condition Ratios (%)
523.70%Loss allowance to loans
0.73%Loss allowance to noncurrent loans
18.90%Noncurrent assets plus other real estate owned to assets
3.20%Noncurrent loans to loans
3.86%Net loans and leases to deposits
103.65%Net loans and leases to core deposits
130.34%Equity capital to assets
7.76%Core capital (leverage) ratio
7.67%Tier 1 risk-based capital ratio
11.93%Total risk-based capital ratio
Memoranda
$13Average assets
$96,012Average earning assets
$8,074Average equity
$91,042Average loans
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