MUFG Union Bank (merged into U.S. Bank)
MUFG Union Bank reported total assets of $100.0 bn at Q1 2023, its last Call Report before it merged into U.S. Bank. The CET1 capital ratio at MUFG Union Bank was 19.77%, and the uninsured share of MUFG Union Bank was 50.59%. Source: FDIC Call Reports.
What sets MUFG Union Bank apart
Nothing in the latest data sets MUFG Union Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is MUFG Union Bank?
The balance sheet of MUFG Union Bank at : assets $100.0 bn, deposits $70.9 bn, net loans $51.7 bn (loans equal to 72.86% of deposits). Securities make up 5.9% of total assets at MUFG Union Bank. Since , when MUFG Union Bank held $120.0 bn, its assets shrank 16.7%. In the year to , deposits at MUFG Union Bank fell 28.3% while its total assets fell 20.5%. At , MUFG Union Bank employed 6,663 full-time equivalent staff across 297 offices, about $15.0 mn of assets per employee and $238.7 mn of deposits per office.
How much funding at MUFG Union Bank is uninsured?
At MUFG Union Bank, uninsured deposits (above the FDIC limit) made up 50.59% of domestic deposits at (-6.41 pp on a year earlier). In dollars, MUFG Union Bank estimated $35.9 bn of uninsured deposits.
Key facts, Q1 2023
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $70.9 bn | $98.8 bn (Q1 2022) | |
| Net loans and leases | $51.7 bn | $79.5 bn (Q1 2022) | |
| Loan-to-deposit ratio | 72.86% | 80.42% (Q1 2022) | |
| Tier 1 leverage ratio | 11.60% | 12.40% (Q1 2022) | |
| Total risk-based capital ratio | 21.02% | 17.67% (Q1 2022) | |
| Net interest margin | 4.08% | 2.49% (Q1 2022) | |
| Return on assets (ROA) | 1.13% | 0.46% (Q1 2022) | |
| Efficiency ratio | 53.34% | 85.75% (Q1 2022) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $36.3 mn | Turned from a loss into a gain | |
| Unrealized gain/loss on available-for-sale securities | Gain of $12.4 mn | Turned from a loss into a gain | |
| Noncurrent loans to total loans | 0.96% | 0.61% (Q1 2022) | |
| Net charge-offs to average loans | 0.96% | 0.08% (Q1 2022) |
US rank of MUFG Union Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
MUFG Union Bank: assets, deposits and loans
- Total assets $100.0bn
- Deposits $70.9bn
- Net loans $51.7bn
Capital and securities
The CET1 ratio of MUFG Union Bank stood at 19.77% in , +2.82 pp year on year. Low and high at MUFG Union Bank since : 12.82% () to 19.77% (). Equity capital of MUFG Union Bank at : $15.5 bn, or 15.5% of total assets. MUFG Union Bank also reported a total capital ratio of 21.02% for , and a tier 1 leverage ratio of 11.60%.
On held-to-maturity securities, MUFG Union Bank carried an unrealized gain of $36.3 mn at , equal to 0.2% of equity capital. The gain turned from a loss into a gain over the year. Its deepest point: $1.8 bn in . The available-for-sale portfolio of MUFG Union Bank showed an unrealized gain of $12.4 mn at ; the gain turned from a loss into a gain over the year.
MUFG Union Bank: capital ratios
- Total capital 21%
- CET1 20%
- Tier 1 leverage 12%
MUFG Union Bank: unrealized securities gains and losses
- Available for sale $12mn
- Held to maturity $36mn
Profitability and loan quality
For the year to , MUFG Union Bank earned a return on equity of 7.52%; return on assets: 1.13%. Net interest margin at MUFG Union Bank: 4.08%, +1.59 pp in a year. MUFG Union Bank net income: $287.9 mn, up 99.3% year on year. The efficiency ratio of MUFG Union Bank was 53.34%: about 53 cents cost per revenue dollar, against 63 cents at the median peer.
At , noncurrent loans were 0.96% of total loans at MUFG Union Bank; net charge-offs: 0.96% of average loans. Gross loans and leases at MUFG Union Bank: $52.5 bn at , against $80.2 bn at .
MUFG Union Bank: profitability
- Return on equity 7.5%
- Net interest margin 4.1%
- Return on assets 1.1%
Peer group of MUFG Union Bank
The peer group of MUFG Union Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of MUFG Union Bank (national bank) and 1 has its head office in California. Against them, MUFG Union Bank shows CET1 ratio 19.77% against a peer median of 13.99%, return on equity 7.52% against a peer median of 12.90% and uninsured deposit share 50.59% against a peer median of 29.35%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| UBS Bank USA | National bank | UT | $113.9 bn | 27.20% | 19.77% | 23.33% | |
| USAA Federal Savings Bank | Federal savings bank | AZ | $111.0 bn | 16.63% | -3.68% | 6.57% | |
| Santander Bank | National bank | DE | $105.3 bn | 14.09% | 0.57% | 35.38% | |
| MUFG Union Bank | National bank | CA | $100.0 bn | 19.77% | 7.52% | 50.59% | |
| Synchrony Bank | Federal savings bank | UT | $99.4 bn | 13.89% | 18.43% | 10.99% | |
| City National Bank | National bank | CA | $96.4 bn | 13.21% | 7.37% | 63.16% | |
| Comerica Bank | State member bank | TX | $91.3 bn | 10.02% | 25.05% | 52.81% | |
. FDIC Call Reports.
Last eight quarters
Two years at MUFG Union Bank, to : assets $133.2 bn to $100.0 bn, deposits $105.2 bn to $70.9 bn, equity $16.1 bn to $15.5 bn. Staff 13,258 to 6,663; offices 307 to 297.
| Metric | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $133.2 bn | $133.3 bn | $127.9 bn | $125.7 bn | $124.7 bn | $124.6 bn | $104.4 bn | $100.0 bn |
| Total deposits | $105.2 bn | $104.2 bn | $101.5 bn | $98.8 bn | $92.4 bn | $90.6 bn | $82.0 bn | $70.9 bn |
| Bank equity capital | $16.1 bn | $16.1 bn | $16.7 bn | $15.9 bn | $15.5 bn | $15.3 bn | $15.2 bn | $15.5 bn |
| CET1 ratio | 16.15% | 16.00% | 16.68% | 16.95% | 17.31% | 17.77% | 18.57% | 19.77% |
| Return on equity (ROE) | 7.77% | 6.32% | 7.07% | 3.55% | 4.24% | 4.44% | -3.27% | 7.52% |
| Uninsured share of domestic deposits | 56.19% | 55.86% | 58.12% | 57.00% | 56.09% | 56.47% | 53.35% | 50.59% |
| Full-time equivalent employees | 13,258 | 12,864 | 12,321 | 12,048 | 12,130 | 12,021 | 6,844 | 6,663 |
| Number of offices | 307 | 301 | 299 | 300 | 300 | 300 | 300 | 297 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of MUFG Union Bank, oldest first; figures before and after each event are not like for like.
- . Merged into U.S. Bank National Association (FDIC certificate 6548).
Questions and identifiers
What were the total assets of MUFG Union Bank?
MUFG Union Bank reported $100.0 bn at in its Call Report.
Is MUFG Union Bank the same as its holding company?
No. This page covers MUFG Union Bank, FDIC certificate 22826; U S BCORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is MUFG Union Bank profitable?
MUFG Union Bank reported net income of $287.9 mn for the year to ; annualized return on equity: 7.52%. So yes: MUFG Union Bank made a profit over these months.
When is data for MUFG Union Bank next updated?
MUFG Union Bank no longer files Call Reports; its data ends at .
Where can I check the figures for MUFG Union Bank?
In the FDIC BankFind Suite record for certificate 22826, and in the Call Reports of MUFG Union Bank (RSSD ID 212465) at the FFIEC Central Data Repository.