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| Flagship Bank FSB |
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| General | FDIC Certificate #: 32483
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: International City Bank, National Association (#25648)
Federal Reserve ID: 987473
Date Established: 1986-07-18
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 8315
FDIC's unique #: 45317
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: 1986-07-18
Last Structure Change Effective Date: 1997-12-31
Last Structure Change Process Date: 1998-01-15
Last Data Update: 1998-01-15
Data Source Date: 2009-05-14 |
| Location | Address: 4493 Ruffin Road, San Diego, CA 92123
County: San Diego
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Orange
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): San Diego, CA (#7320)
Core Based Statistical Area (CBSA): San Diego-Carlsbad-San Marcos, CA (#41740)
CBSA Metro Statistical Area: San Diego-Carlsbad-San Marcos, CA (#41740) |
| Financial Summary | Total assets: $57.5 mil |
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands) |
| Total employees (full-time equivalent) | 40 |
| Total assets | $67,206 |
| Cash and due from depository institutions | $2,451 |
| Interest-bearing balances | $2,199 |
| Securities | $0 |
| Federal funds sold & reverse repurchase agreements | $10,520 |
| Net loans & leases | $50,373 |
| Loan loss allowance | $945 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,450 |
| Other real estate owned | $544 |
| Goodwill and other intangibles | $316 |
| All other assets | $1,552 |
| Life insurance assets | $0 |
| Total liabilities and capital | $67,206 |
| Total liabilities | $62,249 |
| Total deposits | $49,753 |
| Interest-bearing deposits | $47,222 |
| Deposits held in domestic offices | $49,753 |
| % insured (estimated) | 93.34% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $9,850 |
| Subordinated debt | $1,250 |
| All other liabilities | $1,396 |
| Total equity capital | $4,957 |
| Total bank equity capital | $4,957 |
| Perpetual preferred stock | $900 |
| Common stock | $19 |
| Surplus | $4,642 |
| Undivided profits | $-604 |
| Memoranda |
| Noncurrent loans and leases | $677 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $314 |
| Earning assets | $63,092 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $69,009 |
| Average Assets, quarterly | $67,444 |
| Volatile liabilities | $17,064 |
| Insider loans | $0 |
| FHLB advances | $9,850 |
| Loans and leases held for sale | $0 |
| Unused loan commitments | $2,553 |
| Tier 1 (core) risk-based capital | $4,257 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $39,630 |
| Total unused commitments | $2,553 |
| Restructured Loans and leases | $0 |
| Derivatives | $0 |
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Income and Expense (December 31, 1996)
(Dollar figures in thousands) |
| Total interest income | $4,437 |
| Total interest expense | $2,581 |
| Net interest income | $1,856 |
| Provision for loan and lease losses | $481 |
| Total noninterest income | $396 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $396 |
| Total noninterest expense | $2,890 |
| Salaries and employee benefits | $1,538 |
| Premises and equipment expense | $525 |
| Additional noninterest expense | $827 |
| Pre-tax net operating income | -$1,119 |
| Securities gains (losses) | $234 |
| Applicable income taxes | $0 |
| Income before extraordinary items | -$885 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$885 |
| Net charge-offs | $45 |
| Cash dividends | $0 |
| Sale, conversion, retirement of capital stock, net | $308 |
| Net operating income | -$1,119 |
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands) |
| Performance Ratios (%, annualized) |
| Yield on earning assets | 6.77% |
| Cost of funding earning assets | 3.94% |
| Net interest margin | 2.83% |
| Noninterest income to earning assets | 0.60% |
| Noninterest expense to earning assets | 4.41% |
| Net operating income to assets | -1.62% |
| Return on assets (ROA) | -1.28% |
| Pretax return on assets | -1.28% |
| Return on equity (ROE) | -20.49% |
| Retained earnings to average equity (YTD only) | -20.49% |
| Net charge-offs to loans | 0.09% |
| Credit loss provision to net charge-offs | 1068.89% |
| Efficiency ratio | 128.33% |
| Assets per employee | $1,680 |
| Cash dividends to net income (YTD only) | 0.00% |
| Condition Ratios (%) |
| Loss allowance to loans | 1.84% |
| Loss allowance to noncurrent loans | 87.00% |
| Noncurrent assets plus other real estate owned to assets | 1.82% |
| Noncurrent loans to loans | 1.33% |
| Net loans and leases to deposits | 101.25% |
| Net loans and leases to core deposits | 118.42% |
| Equity capital to assets | 7.38% |
| Core capital (leverage) ratio | 6.33% |
| Tier 1 risk-based capital ratio | 10.74% |
| Total risk-based capital ratio | 16.91% |
| Memoranda |
| Average assets | $69,009 |
| Average earning assets | $65,506 |
| Average equity | $52,862 |
| Average loans | $4,319 |
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