Bank Midwest, Minnesota Iowa, National Association in Okoboji, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 01, 1997

Bank Midwest, Minnesota Iowa, National Association in Okoboji, Iowa (IA)
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Bank Midwest, Minnesota Iowa, National Association - Overview

General
FDIC Certificate #: 14570
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Bank Midwest (#5170)
Federal Reserve ID: 852348
Date Established: June 27, 1927
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 4 (Interstate: No)
FDIC's unique #: 9104
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: July 14, 1934
Last Structure Change Effective Date: June 01, 1997
Last Structure Change Process Date: June 13, 1997
Last Data Update: June 13, 1997
Data Source Date: April 05, 2012
Location
Address: 1102 Sanborn Avenue, Okoboji, IA 51355
County: Dickinson
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Spirit Lake, IA (#44020)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $85.3 mil

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

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$31Total assets
$85,535Cash and due from depository institutions
$3,268Interest-bearing balances
$0Securities
$14,212Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$64,436Loan loss allowance
$1,286Trading account assets
$0Bank premises and fixed assets
$1,948Other real estate owned
$0Goodwill and other intangibles
$1,671Life insurance assets
$0All other assets
$0Total liabilities and capital
$85,535Total liabilities
$76,530Total deposits
$72,408Interest-bearing deposits
$63,096Deposits held in domestic offices
72408.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$3,529Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$593Total equity capital
$593Total bank equity capital
$9,005Perpetual preferred stock
$0Common stock
$1,100Surplus
$3,900Undivided profits
Memoranda
$4,005Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$648Income earned, not collected on loans
$998Earning assets
$78,648Long-term assets (5+ years)
$5,145Average Assets, year-to-date
$80,923Average Assets, quarterly
$82,983Volatile liabilities
$11,162Insider loans
$379FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$15,248Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$8,877Total risk weighted assets
$63,271Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$6,215Total interest expense
$3,043Net interest income
$3,172Provision for loan and lease losses
$0Total noninterest income
$482Fiduciary activities
$0Service charges on deposit accounts
$170Trading account gains & fees
$0Additional noninterest income
$312Total noninterest expense
$2,221Salaries and employee benefits
$988Premises and equipment expense
$403Additional noninterest expense
$830Pre-tax net operating income
$1,433Securities gains (losses)
$18Applicable income taxes
$447Income before extraordinary items
$1,004Extraordinary gains - net
$0Net income attributable to bank
$1,004Net charge-offs
-$44Cash dividends
$600Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.28%Cost of funding earning assets
4.05%Net interest margin
4.22%Noninterest income to earning assets
0.64%Noninterest expense to earning assets
2.96%Net operating income to assets
1.23%Return on assets (ROA)
1.24%Pretax return on assets
1.79%Return on equity (ROE)
11.39%Retained earnings to average equity (YTD only)
4.58%Net charge-offs to loans
-0.07%Credit loss provision to net charge-offs
0.00%Efficiency ratio
60,728Assets per employee
2.76%Cash dividends to net income (YTD only)
Condition Ratios (%)
59.76%Loss allowance to loans
1.96%Loss allowance to noncurrent loans
198.46%Noncurrent assets plus other real estate owned to assets
0.76%Noncurrent loans to loans
0.99%Net loans and leases to deposits
88.99%Net loans and leases to core deposits
99.48%Equity capital to assets
10.53%Core capital (leverage) ratio
10.84%Tier 1 risk-based capital ratio
14.03%Total risk-based capital ratio
Memoranda
$15Average assets
$80,923Average earning assets
$8,816Average equity
$75,082Average loans

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