FDIC Certificate #: 16890 Status: Inactive Closing history: Corrections Acquiring institution:WestStar Bank (#22572) Federal Reserve ID: 95752 Date Established: March 01, 1950 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 10979 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 01, 1950 Last Structure Change Effective Date: August 07, 1999 Last Structure Change Process Date: September 23, 1999 Last Data Update: September 23, 1999 Data Source Date: April 05, 2012
Location
Address: 1500 East Oak Grove Road, Montrose, CO 81401 County: Montrose Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Denver Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Core Based Statistical Area (CBSA): Montrose, CO (#33940) CBSA Micro Statistical Area: Yes
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $58.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
28Total employees (full-time equivalent)
$57,891Total assets
$5,627Cash and due from depository institutions
$1,755Interest-bearing balances
$6,306Securities
$2,220Federal funds sold & reverse repurchase agreements
$35,658Net loans & leases
$451Loan loss allowance
$0Trading account assets
$1,984Bank premises and fixed assets
$175Other real estate owned
$5,436Goodwill and other intangibles
$0Life insurance assets
$485All other assets
$57,891Total liabilities and capital
$48,467Total liabilities
$47,787Total deposits
$41,182Interest-bearing deposits
$47,787Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$680All other liabilities
$9,424Total equity capital
$9,424Total bank equity capital
$9,424Perpetual preferred stock
$0Common stock
$400Surplus
$8,975Undivided profits
Memoranda
$49Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$11Earning assets
$0Long-term assets (5+ years)
$320Average Assets, year-to-date
$45,939Average Assets, quarterly
$2,365Volatile liabilities
$47,432Insider loans
$53,181FHLB advances
$7,901Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,043Total unused commitments
$0Restructured Loans and leases
$39,536Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$201Total interest income
$72Total interest expense
$129Net interest income
$0Provision for loan and lease losses
$22Total noninterest income
$0Fiduciary activities
$13Service charges on deposit accounts
$0Trading account gains & fees
$9Additional noninterest income
$98Total noninterest expense
$47Salaries and employee benefits
$11Premises and equipment expense
$40Additional noninterest expense
$53Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$53Income before extraordinary items
$0Extraordinary gains - net
$53Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$60Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
0.48%Yield on earning assets
0.17%Cost of funding earning assets
0.31%Net interest margin
0.05%Noninterest income to earning assets
0.24%Noninterest expense to earning assets
0.11%Net operating income to assets
0.11%Return on assets (ROA)
0.11%Pretax return on assets
1.15%Return on equity (ROE)
1.15%Retained earnings to average equity (YTD only)
0.19%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.88%Efficiency ratio
58,940Assets per employee
2.07%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
4100.00%Noncurrent assets plus other real estate owned to assets
0.32%Noncurrent loans to loans
0.03%Net loans and leases to deposits
74.62%Net loans and leases to core deposits
89.40%Equity capital to assets
16.28%Core capital (leverage) ratio
7.61%Tier 1 risk-based capital ratio
10.10%Total risk-based capital ratio
Memoranda
$11Average assets
$47,432Average earning assets
$4,627Average equity
$41,526Average loans
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