First Western Bank & Trust in Eden Prairie, Minnesota (MN)
| First Western Bank & Trust | |
|---|---|
| General | FDIC Certificate #: 58254 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution: First Western Bank & Trust (#19123) Federal Reserve ID: 3417319 Date Established: April 19, 2006 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Interstate: No) FDIC's unique #: 444614 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: April 19, 2006 Last Structure Change Effective Date: August 06, 2011 Last Structure Change Process Date: August 18, 2011 Last Data Update: August 18, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 100 Prairie Center Drive, Eden Prairie, MN 55344 County: Hennepin Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460) |
| Financial Summary | Total assets: $43.1 mil |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 7 |
| Total assets | $45,778 |
| Cash and due from depository institutions | $1,990 |
| Interest-bearing balances | $61 |
| Securities | $736 |
| Federal funds sold & reverse repurchase agreements | $8,490 |
| Net loans & leases | $32,175 |
| Loan loss allowance | $575 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $127 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $2,260 |
| Life insurance assets | $669 |
| Total liabilities and capital | $45,778 |
| Total liabilities | $36,181 |
| Total deposits | $34,157 |
| Interest-bearing deposits | $33,380 |
| Deposits held in domestic offices | $34,157 |
| % insured (estimated) | 89.61% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,800 |
| Subordinated debt | $0 |
| All other liabilities | $224 |
| Total equity capital | $9,597 |
| Total bank equity capital | $9,597 |
| Perpetual preferred stock | $9,597 |
| Common stock | $0 |
| Surplus | $100 |
| Undivided profits | $10,900 |
| Memoranda | |
| Noncurrent loans and leases | $-1,403 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $4,702 |
| Income earned, not collected on loans | $0 |
| Earning assets | $1,894 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $104 |
| Average Assets, quarterly | $41,462 |
| Volatile liabilities | $8,146 |
| Insider loans | $44,135 |
| FHLB advances | $46,676 |
| Loans and leases held for sale | $13,576 |
| Unused loan commitments | $1 |
| Tier 1 (core) risk-based capital | $1,800 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $0 |
| Total unused commitments | $4,702 |
| Restructured Loans and leases | $890 |
| Derivatives | $468 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $2,097 |
| Total interest expense | $669 |
| Net interest income | $1,428 |
| Provision for loan and lease losses | $1,016 |
| Total noninterest income | $33 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $3 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $30 |
| Total noninterest expense | $1,264 |
| Salaries and employee benefits | $693 |
| Premises and equipment expense | $240 |
| Additional noninterest expense | $331 |
| Pre-tax net operating income | -$819 |
| Securities gains (losses) | $0 |
| Applicable income taxes | -$316 |
| Income before extraordinary items | -$503 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$503 |
| Net charge-offs | $0 |
| Cash dividends | -$503 |
| Sale, conversion, retirement of capital stock, net | $2,089 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.26% |
| Cost of funding earning assets | 1.68% |
| Net interest margin | 3.58% |
| Noninterest income to earning assets | 0.08% |
| Noninterest expense to earning assets | 3.17% |
| Net operating income to assets | -1.14% |
| Return on assets (ROA) | -1.14% |
| Pretax return on assets | -1.86% |
| Return on equity (ROE) | -5.07% |
| Retained earnings to average equity (YTD only) | -5.07% |
| Net charge-offs to loans | 5.89% |
| Credit loss provision to net charge-offs | 48.64% |
| Efficiency ratio | 0.09% |
| Assets per employee | $86,516 |
| Cash dividends to net income (YTD only) | 6.54% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.76% |
| Noncurrent assets plus other real estate owned to assets | 30.36% |
| Noncurrent loans to loans | 4.14% |
| Net loans and leases to deposits | 5.78% |
| Net loans and leases to core deposits | 94.20% |
| Equity capital to assets | 150.48% |
| Core capital (leverage) ratio | 20.96% |
| Tier 1 risk-based capital ratio | 20.56% |
| Total risk-based capital ratio | 25.72% |
| Memoranda | |
| Average assets | $27 |
| Average earning assets | $44,135 |
| Average equity | $9,924 |
| Average loans | $39,887 |
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