World's Foremost Bank (merged into Synovus Bank)
World's Foremost Bank reported total assets of $5.7 bn at Q2 2017, its last Call Report before it merged into Synovus Bank. The CET1 capital ratio at World's Foremost Bank was 11.58%, and the uninsured share of World's Foremost Bank was 0.00%. Source: FDIC Call Reports.
What sets World's Foremost Bank apart
Nothing in the latest data sets World's Foremost 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 World's Foremost Bank?
The balance sheet of World's Foremost Bank at : assets $5.7 bn, deposits $1.1 bn, net loans $5.5 bn (loans equal to 492.35% of deposits). Securities make up 0.1% of total assets at World's Foremost Bank. Since , when World's Foremost Bank held $5.0 bn, its assets grew 13.0%. In the year to , deposits at World's Foremost Bank fell 8.1% while its total assets rose 0.4%. At , World's Foremost Bank employed 710 full-time equivalent staff across 1 office, about $8.0 mn of assets per employee and $1.1 bn of deposits per office.
How much funding at World's Foremost Bank is uninsured?
At World's Foremost Bank, uninsured deposits (above the FDIC limit) made up 0.00% of domestic deposits at (0.00 pp on a year earlier).
Key facts, Q2 2017
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $1.1 bn | $1.2 bn (Q2 2016) | |
| Net loans and leases | $5.5 bn | $5.1 bn (Q2 2016) | |
| Loan-to-deposit ratio | 492.35% | 421.98% (Q2 2016) | |
| Tier 1 leverage ratio | 11.41% | 10.56% (Q2 2016) | |
| Total risk-based capital ratio | 12.84% | 11.81% (Q2 2016) | |
| Net interest margin | 10.21% | 9.24% (Q2 2016) | |
| Return on assets (ROA) | 2.90% | 2.63% (Q2 2016) | |
| Efficiency ratio | 57.43% | 62.41% (Q2 2016) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $19,000 | Fell by $65,000 | |
| Noncurrent loans to total loans | 0.43% | 0.40% (Q2 2016) | |
| Net charge-offs to average loans | 2.67% | 1.86% (Q2 2016) |
US rank of World's Foremost Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
World's Foremost Bank: assets, deposits and loans
- Total assets $5.7bn
- Deposits $1.1bn
- Net loans $5.5bn
Capital and securities
The CET1 ratio of World's Foremost Bank stood at 11.58% in , +1.03 pp year on year. Low and high at World's Foremost Bank since : 10.55% () to 11.58% (). Equity capital of World's Foremost Bank at : $652.9 mn, or 11.5% of total assets. World's Foremost Bank also reported a total capital ratio of 12.84% for , and a tier 1 leverage ratio of 11.41%.
On held-to-maturity securities, World's Foremost Bank carried an unrealized gain of $19,000 at , equal to 0.0% of equity capital. The gain fell by $65,000 over the year. Its deepest point: $48,000 in .
World's Foremost Bank: capital ratios
- Total capital 13%
- CET1 12%
- Tier 1 leverage 11%
World's Foremost Bank: unrealized securities gains and losses
- Available for sale $0
- Held to maturity $19,000
Profitability and loan quality
For the year to , World's Foremost Bank earned a return on equity of 26.29%; return on assets: 2.90%. Net interest margin at World's Foremost Bank: 10.21%, +0.97 pp in a year. World's Foremost Bank net income: $82.7 mn, up 17.4% year on year. The efficiency ratio of World's Foremost Bank was 57.43%: about 57 cents cost per revenue dollar, against 55 cents at the median peer.
At , noncurrent loans were 0.43% of total loans at World's Foremost Bank; net charge-offs: 2.67% of average loans. Gross loans and leases at World's Foremost Bank: $5.6 bn at , against $5.2 bn at .
World's Foremost Bank: profitability
- Return on equity 26%
- Net interest margin 10%
- Return on assets 2.9%
Peer group of World's Foremost Bank
The peer group of World's Foremost Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 4 share the charter type of World's Foremost Bank (state nonmember bank) and 0 have head offices in Nebraska. Against them, World's Foremost Bank shows CET1 ratio 11.58% against a peer median of 13.66%, return on equity 26.29% against a peer median of 10.09% and uninsured deposit share 0.00% against a peer median of 46.00%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Sabadell United Bank | National bank | FL | $5.7 bn | 14.90% | 9.23% | 63.82% | |
| Mechanics Bank | State nonmember bank | CA | $5.7 bn | 11.60% | 4.36% | 48.89% | |
| 1st Source Bank | State member bank | IN | $5.7 bn | 12.41% | 9.88% | 38.15% | |
| World's Foremost Bank | State nonmember bank | NE | $5.7 bn | 11.58% | 26.29% | 0.00% | |
| Luther Burbank Savings | State nonmember bank | CA | $5.7 bn | 18.71% | 12.69% | 21.64% | |
| Washington Trust Bank | State nonmember bank | WA | $5.6 bn | 11.82% | 11.16% | 48.91% | |
| Southside Bank | State nonmember bank | TX | $5.6 bn | 18.81% | 10.30% | 43.10% | |
. FDIC Call Reports.
Last eight quarters
Two years at World's Foremost Bank, to : assets $5.0 bn to $5.7 bn, deposits $875.1 mn to $1.1 bn, equity $530.9 mn to $652.9 mn. Staff 641 to 710.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 | Q2 2017 |
|---|---|---|---|---|---|---|
| Total assets | $5.0 bn | $5.7 bn | $5.7 bn | $5.9 bn | $5.5 bn | $5.7 bn |
| Total deposits | $875.1 mn | $1.2 bn | $1.2 bn | $1.2 bn | $1.2 bn | $1.1 bn |
| Bank equity capital | $530.9 mn | $562.5 mn | $592.6 mn | $620.2 mn | $613.8 mn | $652.9 mn |
| CET1 ratio | 10.61% | 10.55% | 10.86% | 10.65% | 11.30% | 11.58% |
| Return on equity (ROE) | 29.23% | 25.99% | 24.16% | 22.57% | 28.24% | 26.29% |
| Uninsured share of domestic deposits | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Full-time equivalent employees | 641 | 724 | 634 | 681 | 735 | 710 |
| Number of offices | 1 | 1 | 1 | 1 | 1 | 1 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of World's Foremost Bank, oldest first; figures before and after each event are not like for like.
- . Merged into Synovus Bank (FDIC certificate 873).
Questions and identifiers
What were the total assets of World's Foremost Bank?
World's Foremost Bank reported $5.7 bn at in its Call Report.
Is World's Foremost Bank profitable?
World's Foremost Bank reported net income of $82.7 mn for the year to ; annualized return on equity: 26.29%. So yes: World's Foremost Bank made a profit over these months.
When is data for World's Foremost Bank next updated?
World's Foremost Bank no longer files Call Reports; its data ends at .
Where can I check the figures for World's Foremost Bank?
In the FDIC BankFind Suite record for certificate 57079, and in the Call Reports of World's Foremost Bank (RSSD ID 2931603) at the FFIEC Central Data Repository.