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| World Financial Network National Bank |
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| General | FDIC Certificate #: 27499
Status: Active
Federal Reserve ID: 1391778
Date Established: 1989-05-01
WWW: http://www.alliancedata.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 40232
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Credit Card Institutions: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Credit-Card Specialization
Date of Deposit Insurance: 1989-05-01
Last Structure Change Effective Date: 2007-11-19
Last Structure Change Process Date: 2007-12-04
Last Data Update: 2007-12-04
Data Source Date: 2009-05-14 |
| Location | Address: 3100 Easton Square Place, Columbus, OH 43219
County: Franklin
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Columbus
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Metropolitan Statistical Area (MSA): Columbus, OH (#1840)
Combined Statistical Area (CSA): Columbus-Marion-Chillicothe, OH (#198)
Core Based Statistical Area (CBSA): Columbus, OH (#18140)
CBSA Metro Statistical Area: Columbus, OH (#18140) |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $1,286.6 mil
Equity capital: $508.9 mil
Deposits held in domestic offices: $477.9 mil
Return on assets (ROA): 18.10% ($232.9 mil)
Quarterly return on assets: 12.15% ($156.4 mil)
Return on Equity (ROE): 36.89% ($187.8 mil)
Quarterly return on equity: 27.04% ($137.6 mil)
Net income: $195.8 mil
Quarterly Net income: $35.3 mil
Pretax return on assets: 29.13% ($374,773.2 mil)
Quarterly Pretax return on assets: 20.48% ($263,486.3 mil) |
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2008 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, 2008)
(Dollar figures in thousands) |
| Total employees (full-time equivalent) | 277 |
| Total assets | $1,286,554 |
| Cash and due from depository institutions | $27,610 |
| Interest-bearing balances | $0 |
| Securities | $267,656 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $457,695 |
| Loan loss allowance | $27,072 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $453 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $21,215 |
| All other assets | $511,925 |
| Life insurance assets | $0 |
| Total liabilities and capital | $1,286,554 |
| Total liabilities | $777,615 |
| Total deposits | $477,900 |
| Interest-bearing deposits | $477,900 |
| Deposits held in domestic offices | $477,900 |
| % insured (estimated) | 100.30% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $299,715 |
| Total equity capital | $508,939 |
| Total bank equity capital | $508,939 |
| Perpetual preferred stock | $0 |
| Common stock | $17,500 |
| Surplus | $22,372 |
| Undivided profits | $469,067 |
| Memoranda |
| Noncurrent loans and leases | $16,673 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $2,317 |
| Earning assets | $725,351 |
| Long-term assets (5+ years) | $9,550 |
| Average Assets, year-to-date | $1,081,892 |
| Average Assets, quarterly | $1,162,259 |
| Volatile liabilities | $477,900 |
| Insider loans | $22 |
| FHLB advances | $0 |
| Loans and leases held for sale | $0 |
| Unused loan commitments | $32,505,939 |
| Tier 1 (core) risk-based capital | $541,078 |
| Tier 2 risk-based capital | $27,072 |
| Total risk weighted assets | $2,230,855 |
| Total unused commitments | $32,505,939 |
| Restructured Loans and leases | $0 |
| Derivatives | $0 |
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Income and Expense (December 31, 2008)
(Dollar figures in thousands) |
| Total interest income | $87,653 |
| Total interest expense | $10,830 |
| Net interest income | $76,823 |
| Provision for loan and lease losses | $40,737 |
| Total noninterest income | $675,765 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $675,765 |
| Total noninterest expense | $399,160 |
| Salaries and employee benefits | $19,933 |
| Premises and equipment expense | $325 |
| Additional noninterest expense | $378,902 |
| Pre-tax net operating income | $312,691 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $119,419 |
| Income before extraordinary items | $193,272 |
| Extraordinary gains - net | $2,504 |
| Net income attributable to bank | $195,776 |
| Net charge-offs | $44,809 |
| Cash dividends | $180,000 |
| Sale, conversion, retirement of capital stock, net | $2,729 |
| Net operating income | $193,272 |
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands) |
| Performance Ratios (%, annualized) |
| Yield on earning assets | 15.10% |
| Cost of funding earning assets | 1.87% |
| Net interest margin | 13.24% |
| Noninterest income to earning assets | 116.45% |
| Noninterest expense to earning assets | 68.78% |
| Net operating income to assets | 17.86% |
| Return on assets (ROA) | 18.10% |
| Pretax return on assets | 29.13% |
| Return on equity (ROE) | 36.89% |
| Retained earnings to average equity (YTD only) | 2.97% |
| Net charge-offs to loans | 10.40% |
| Credit loss provision to net charge-offs | 90.91% |
| Efficiency ratio | 52.22% |
| Assets per employee | $4,645 |
| Cash dividends to net income (YTD only) | 91.94% |
| Condition Ratios (%) |
| Loss allowance to loans | 5.58% |
| Loss allowance to noncurrent loans | 162.37% |
| Noncurrent assets plus other real estate owned to assets | 1.30% |
| Noncurrent loans to loans | 3.44% |
| Net loans and leases to deposits | 95.77% |
| Net loans and leases to core deposits | 0.00% |
| Equity capital to assets | 39.56% |
| Core capital (leverage) ratio | 41.66% |
| Tier 1 risk-based capital ratio | 24.25% |
| Total risk-based capital ratio | 25.47% |
| Memoranda |
| Average assets | $1,081,892 |
| Average earning assets | $580,320 |
| Average equity | $430,668 |
| Average loans | $530,639 |
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Bank Assets Sold and Securitized (December 31, 2008)
(Dollar figures in thousands) |
| Principal balance with servicing or other recourse retained |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $3,735,304 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
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| 1 Ohio Branch as of 2009-05-14 |
| No | ID | Name | Address | Established | Service Type | Map |
|---|
| 0 | 40232 | World Financial Network National Ban | 3100 Easton Square Place, Columbus, OH 43219 | 1989-05-01 | Full Service Brick and Mortar |  |
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