FDIC Certificate #: 33927 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Bank Iowa (#14521) Federal Reserve ID: 2235244 Date Established: August 26, 1994 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 3 (Interstate: No) OTS Docket #: 14650 FDIC's unique #: 55096 Numeric code: 13 Regulator: FED 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: August 26, 1994 Last Structure Change Effective Date: March 31, 2011 Last Structure Change Process Date: April 07, 2011 Last Data Update: April 07, 2011 Data Source Date: April 05, 2012
Location
Address: 420 8th Street Southeast, Altoona, IA 50009 County: Polk Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Des Moines Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Metropolitan Statistical Area (MSA): Des Moines, IA (#2120) Combined Statistical Area (CSA): Des Moines-Newton-Pella, IA (#218) Core Based Statistical Area (CBSA): Des Moines-West Des Moines, IA (#19780) CBSA Metro Statistical Area: Des Moines-West Des Moines, IA (#19780)
Financial Summary
Total assets: $142.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
29Total employees (full-time equivalent)
$142,348Total assets
$23,758Cash and due from depository institutions
$21,290Interest-bearing balances
$13,152Securities
$0Federal funds sold & reverse repurchase agreements
$93,103Net loans & leases
$3,054Loan loss allowance
$0Trading account assets
$5,101Bank premises and fixed assets
$2,501Other real estate owned
$0Goodwill and other intangibles
$1,364Life insurance assets
$4,733All other assets
$142,348Total liabilities and capital
$129,895Total liabilities
$108,962Total deposits
$96,949Interest-bearing deposits
$108,962Deposits held in domestic offices
85.55%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$20,617Other borrowed funds
$0Subordinated debt
$316All other liabilities
$12,453Total equity capital
$12,453Total bank equity capital
$12,453Perpetual preferred stock
$0Common stock
$500Surplus
$12,507Undivided profits
Memoranda
$-554Noncurrent loans and leases
$17,316Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$4,902Earning assets
$160Long-term assets (5+ years)
$453Average Assets, year-to-date
$127,545Average Assets, quarterly
$29,788Volatile liabilities
$146,741Insider loans
$141,399FHLB advances
$26,204Loans and leases held for sale
$24Unused loan commitments
$20,617Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$227Total risk weighted assets
$17,316Total unused commitments
$8Restructured Loans and leases
$1,193Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$6,941Total interest income
$2,643Total interest expense
$4,298Net interest income
$4,630Provision for loan and lease losses
$1,223Total noninterest income
$0Fiduciary activities
$548Service charges on deposit accounts
$0Trading account gains & fees
$675Additional noninterest income
$4,368Total noninterest expense
$2,024Salaries and employee benefits
$856Premises and equipment expense
$1,488Additional noninterest expense
-$3,477Pre-tax net operating income
$0Securities gains (losses)
-$176Applicable income taxes
-$3,301Income before extraordinary items
$0Extraordinary gains - net
-$3,301Net income attributable to bank
$0Net charge-offs
-$3,301Cash dividends
$3,426Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.28%Yield on earning assets
2.01%Cost of funding earning assets
3.27%Net interest margin
0.93%Noninterest income to earning assets
3.32%Noninterest expense to earning assets
-2.25%Net operating income to assets
-2.25%Return on assets (ROA)
-2.37%Pretax return on assets
-26.12%Return on equity (ROE)
-26.12%Retained earnings to average equity (YTD only)
3.35%Net charge-offs to loans
135.14%Credit loss provision to net charge-offs
0.34%Efficiency ratio
79,116Assets per employee
4.91%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.18%Loss allowance to noncurrent loans
62.30%Noncurrent assets plus other real estate owned to assets
5.20%Noncurrent loans to loans
5.10%Net loans and leases to deposits
85.45%Net loans and leases to core deposits
112.50%Equity capital to assets
8.75%Core capital (leverage) ratio
8.79%Tier 1 risk-based capital ratio
13.28%Total risk-based capital ratio
Memoranda
$15Average assets
$146,741Average earning assets
$12,637Average equity
$131,579Average loans
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