FDIC Certificate #: 16476 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:PrinsBank (#10191) Federal Reserve ID: 730754 Date Established: September 07, 1946 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 10639 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: September 07, 1946 Last Structure Change Effective Date: May 07, 2010 Last Structure Change Process Date: May 10, 2010 Last Data Update: May 10, 2010 Data Source Date: April 05, 2012
Location
Address: 11150 Commerce Drive North, Champlin, MN 55316 County: Hennepin 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 Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
Financial Summary
Total assets: $32.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
9Total employees (full-time equivalent)
$35,555Total assets
$3,912Cash and due from depository institutions
$3,576Interest-bearing balances
$1,349Securities
$686Federal funds sold & reverse repurchase agreements
$25,299Net loans & leases
$995Loan loss allowance
$0Trading account assets
$1,428Bank premises and fixed assets
$2,457Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$424All other assets
$35,555Total liabilities and capital
$35,040Total liabilities
$34,878Total deposits
$30,742Interest-bearing deposits
$34,878Deposits held in domestic offices
95.85%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$162All other liabilities
$515Total equity capital
$515Total bank equity capital
$515Perpetual preferred stock
$0Common stock
$105Surplus
$9,055Undivided profits
Memoranda
$-8,645Noncurrent loans and leases
$3,157Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,692Earning assets
$0Long-term assets (5+ years)
$279Average Assets, year-to-date
$30,910Average Assets, quarterly
$3,975Volatile liabilities
$37,582Insider loans
$36,849FHLB advances
$2,252Loans and leases held for sale
$1Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,157Total unused commitments
$811Restructured Loans and leases
$331Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$1,880Total interest income
$590Total interest expense
$1,290Net interest income
$2,172Provision for loan and lease losses
-$16Total noninterest income
$0Fiduciary activities
$74Service charges on deposit accounts
$0Trading account gains & fees
-$90Additional noninterest income
$2,015Total noninterest expense
$732Salaries and employee benefits
$161Premises and equipment expense
$1,122Additional noninterest expense
-$2,913Pre-tax net operating income
$0Securities gains (losses)
$58Applicable income taxes
-$2,971Income before extraordinary items
$0Extraordinary gains - net
-$2,971Net income attributable to bank
$0Net charge-offs
-$2,971Cash dividends
$2,033Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.82%Yield on earning assets
1.83%Cost of funding earning assets
4.00%Net interest margin
-0.05%Noninterest income to earning assets
6.24%Noninterest expense to earning assets
-7.91%Net operating income to assets
-7.91%Return on assets (ROA)
-7.75%Pretax return on assets
-149.60%Return on equity (ROE)
-149.60%Retained earnings to average equity (YTD only)
7.06%Net charge-offs to loans
106.84%Credit loss provision to net charge-offs
-0.36%Efficiency ratio
158,163Assets per employee
3.95%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.78%Loss allowance to noncurrent loans
58.81%Noncurrent assets plus other real estate owned to assets
11.67%Noncurrent loans to loans
6.43%Net loans and leases to deposits
72.54%Net loans and leases to core deposits
77.54%Equity capital to assets
1.45%Core capital (leverage) ratio
1.36%Tier 1 risk-based capital ratio
2.00%Total risk-based capital ratio
Memoranda
$3Average assets
$37,582Average earning assets
$1,986Average equity
$32,276Average loans
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