American Bank of the North in Grand Rapids, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 01, 2002

American Bank of the North in Grand Rapids, Minnesota (MN)
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American Bank of the North - Overview

General
FDIC Certificate #: 10954
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: American Bank of the North (#5216)
Federal Reserve ID: 400356
Date Established: August 01, 1919
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
OTS Docket #: 10049
FDIC's unique #: 7011
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: April 01, 2002
Last Structure Change Process Date: April 24, 2002
Last Data Update: April 24, 2002
Data Source Date: April 05, 2012
Location
Address: 1215 Pokegama Avenue South, Grand Rapids, MN 55744
County: Itasca
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial Summary
Total assets: $94.0 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, 2001)

Dollar figures in thousands
27Total employees (full-time equivalent)
$90,363Total assets
$6,261Cash and due from depository institutions
$30Interest-bearing balances
$8,417Securities
$4,870Federal funds sold & reverse repurchase agreements
$68,263Net loans & leases
$681Loan loss allowance
$0Trading account assets
$1,443Bank premises and fixed assets
$95Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,014All other assets
$90,363Total liabilities and capital
$83,771Total liabilities
$79,070Total deposits
$65,121Interest-bearing deposits
$79,070Deposits held in domestic offices
0.00%% insured (estimated)
$2,800Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,500Other borrowed funds
$0Subordinated debt
$401All other liabilities
$6,592Total equity capital
$6,592Total bank equity capital
$6,592Perpetual preferred stock
$0Common stock
$150Surplus
$6,200Undivided profits
Memoranda
$242Noncurrent loans and leases
$8,096Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$520Earning assets
$16Long-term assets (5+ years)
$492Average Assets, year-to-date
$81,580Average Assets, quarterly
$10,873Volatile liabilities
$85,445Insider loans
$90,021FHLB advances
$21,383Loans and leases held for sale
$190Unused loan commitments
$1,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,096Total unused commitments
$0Restructured Loans and leases
$681Derivatives

Income and Expense (December 31, 2001)

Dollar figures in thousands
$6,550Total interest income
$3,025Total interest expense
$3,525Net interest income
$135Provision for loan and lease losses
$442Total noninterest income
$0Fiduciary activities
$347Service charges on deposit accounts
$0Trading account gains & fees
$95Additional noninterest income
$2,243Total noninterest expense
$1,038Salaries and employee benefits
$291Premises and equipment expense
$914Additional noninterest expense
$1,589Pre-tax net operating income
$0Securities gains (losses)
$43Applicable income taxes
$1,546Income before extraordinary items
$0Extraordinary gains - net
$1,546Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$17Sale, conversion, retirement of capital stock, net
$977Net operating income

Performance and Condition Ratios (December 31, 2001)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.48%Yield on earning assets
3.92%Cost of funding earning assets
4.56%Net interest margin
0.57%Noninterest income to earning assets
2.90%Noninterest expense to earning assets
1.81%Net operating income to assets
1.81%Return on assets (ROA)
1.86%Pretax return on assets
24.35%Return on equity (ROE)
8.96%Retained earnings to average equity (YTD only)
0.03%Net charge-offs to loans
794.12%Credit loss provision to net charge-offs
101.41%Efficiency ratio
56,541Assets per employee
3.35%Cash dividends to net income (YTD only)
Condition Ratios (%)
63.20%Loss allowance to loans
0.99%Loss allowance to noncurrent loans
130.96%Noncurrent assets plus other real estate owned to assets
0.68%Noncurrent loans to loans
0.75%Net loans and leases to deposits
86.33%Net loans and leases to core deposits
112.86%Equity capital to assets
7.30%Core capital (leverage) ratio
7.66%Tier 1 risk-based capital ratio
10.09%Total risk-based capital ratio
Memoranda
$11Average assets
$85,445Average earning assets
$6,349Average equity
$77,229Average loans

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