1st United Bank in Faribault, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • 1st United Bank in Faribault, Minnesota (MN)
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1st United Bank - Overview

  • General
  • FDIC Certificate #: 31249
    Status: Active
    Federal Reserve ID: 350572
    Date Established: January 01, 1920
    WWW: http://www.1stunited.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 6607
    FDIC's unique #: 44083
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 18, 1961
    Last Structure Change Effective Date: Febuary 13, 2012
    Last Structure Change Process Date: Febuary 21, 2012
    Last Data Update: Febuary 21, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 430 4th St Nw, Faribault, MN 55021
    County: Rice
    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
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Faribault-Northfield, MN (#22060)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Location
    Change in Primary Regulatory Agency
    Change in Entity Type
  • Financial Summary
  • Total assets: $128.4 mil
    Equity capital: $13.0 mil
    Deposits held in domestic offices: $114.7 mil
    Return on assets (ROA): 1.27% ($1.6 mil)
    Quarterly return on assets: 1.34% ($1.7 mil)
    Return on Equity (ROE): 13.49% ($1.8 mil)
    Quarterly return on equity: 13.29% ($1.7 mil)
    Net income: $1.6 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.27% ($1,630.3 mil)
    Quarterly Pretax return on assets: 1.34% ($1,720.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 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, 2011)

  • Dollar figures in thousands
  • 38Total employees (full-time equivalent)
  • $128,372Total assets
  • $5,514Cash and due from depository institutions
  • $2,592Interest-bearing balances
  • $38,903Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $76,668Net loans & leases
  • $803Loan loss allowance
  • $0Trading account assets
  • $3,718Bank premises and fixed assets
  • $1,513Other real estate owned
  • $483Goodwill and other intangibles
  • $128,372Life insurance assets
  • $1,573All other assets
  • $115,354Total liabilities and capital
  • $114,668Total liabilities
  • $98,291Total deposits
  • $114,668Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 400.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $286Subordinated debt
  • $13,018All other liabilities
  • $13,018Total equity capital
  • $13,018Total bank equity capital
  • $0Perpetual preferred stock
  • $77Common stock
  • $565Surplus
  • $12,376Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,673Income earned, not collected on loans
  • $0Earning assets
  • $736Long-term assets (5+ years)
  • $118,163Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $127,838Volatile liabilities
  • $128,443Insider loans
  • $90,263FHLB advances
  • $126,538Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $11,184Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $14,333Restructured Loans and leases
  • $3,665Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,716Total interest income
  • $769Total interest expense
  • $4,947Net interest income
  • $480Provision for loan and lease losses
  • $1,132Total noninterest income
  • $0Fiduciary activities
  • $341Service charges on deposit accounts
  • $0Trading account gains & fees
  • $791Additional noninterest income
  • $4,169Total noninterest expense
  • $2,071Salaries and employee benefits
  • $881Premises and equipment expense
  • $1,217Additional noninterest expense
  • $1,430Pre-tax net operating income
  • $195Securities gains (losses)
  • $2Applicable income taxes
  • $1,623Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,623Net income attributable to bank
  • $0Net charge-offs
  • $1,623Cash dividends
  • $339Sale, conversion, retirement of capital stock, net
  • $1,188Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.86%Yield on earning assets
  • 0.65%Cost of funding earning assets
  • 4.21%Net interest margin
  • 0.96%Noninterest income to earning assets
  • 3.55%Noninterest expense to earning assets
  • 1.12%Net operating income to assets
  • 1.27%Return on assets (ROA)
  • 1.27%Pretax return on assets
  • 13.49%Return on equity (ROE)
  • 3.61%Retained earnings to average equity (YTD only)
  • 0.45%Net charge-offs to loans
  • 141.59%Credit loss provision to net charge-offs
  • 5.63%Efficiency ratio
  • 67,791Assets per employee
  • 3.38%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 73.20%Loss allowance to loans
  • 1.04%Loss allowance to noncurrent loans
  • 30.04%Noncurrent assets plus other real estate owned to assets
  • 3.26%Noncurrent loans to loans
  • 3.45%Net loans and leases to deposits
  • 66.86%Net loans and leases to core deposits
  • 67.41%Equity capital to assets
  • 10.14%Core capital (leverage) ratio
  • 8.84%Tier 1 risk-based capital ratio
  • 12.39%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $127,838Average earning assets
  • $12,035Average equity
  • $117,575Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    0440831st United Bank430 4th St Nw, Faribault, MN 55021January 01, 1920Full Service Brick and Mortar
    102283957495 North Street W Branch495 North Street W, Owatonna, MN 55060January 02, 1997Full Service Retail

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