Bank of Elbow Lake in Elbow Lake, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 05, 1995

Bank of Elbow Lake in Elbow Lake, Minnesota (MN)
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Bank of Elbow Lake - Overview

General
FDIC Certificate #: 9732
Status: Inactive
Closing history: Corrections
Acquiring institution: Eagle Bank (#8824)
Federal Reserve ID: 968959
Date Established: January 01, 1887
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 6223
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: January 05, 1995
Last Structure Change Process Date: Febuary 23, 1995
Last Data Update: October 02, 1995
Data Source Date: April 05, 2012
Location
Address: 18 Central Avenue North, Elbow Lake, MN 56531
County: Grant
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $11.5 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$8Total assets
$11,523Cash and due from depository institutions
$1,060Interest-bearing balances
$99Securities
$4,857Federal funds sold & reverse repurchase agreements
$100Net loans & leases
$5,160Loan loss allowance
$171Trading account assets
$0Bank premises and fixed assets
$162Other real estate owned
$0Goodwill and other intangibles
$184Life insurance assets
$0All other assets
$0Total liabilities and capital
$11,523Total liabilities
$10,671Total deposits
$10,639Interest-bearing deposits
$8,677Deposits held in domestic offices
10639.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$32Total equity capital
$32Total bank equity capital
$852Perpetual preferred stock
$0Common stock
$693Surplus
$1,007Undivided profits
Memoranda
$-848Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$304Income earned, not collected on loans
$122Earning assets
$10,216Long-term assets (5+ years)
$1,438Average Assets, year-to-date
$11,941Average Assets, quarterly
$11,549Volatile liabilities
$200Insider loans
$0FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$636Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$1,032Total risk weighted assets
$6,201Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$834Total interest expense
$336Net interest income
$498Provision for loan and lease losses
$6Total noninterest income
$40Fiduciary activities
$0Service charges on deposit accounts
$19Trading account gains & fees
$0Additional noninterest income
$21Total noninterest expense
$452Salaries and employee benefits
$192Premises and equipment expense
$65Additional noninterest expense
$195Pre-tax net operating income
$80Securities gains (losses)
-$2Applicable income taxes
$12Income before extraordinary items
$66Extraordinary gains - net
$12Net income attributable to bank
$78Net charge-offs
$64Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.71%Cost of funding earning assets
3.11%Net interest margin
4.61%Noninterest income to earning assets
0.37%Noninterest expense to earning assets
4.18%Net operating income to assets
0.57%Return on assets (ROA)
0.65%Pretax return on assets
0.75%Return on equity (ROE)
8.61%Retained earnings to average equity (YTD only)
8.61%Net charge-offs to loans
1.14%Credit loss provision to net charge-offs
9.38%Efficiency ratio
84,015Assets per employee
1.44%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.21%Loss allowance to noncurrent loans
56.25%Noncurrent assets plus other real estate owned to assets
2.64%Noncurrent loans to loans
5.70%Net loans and leases to deposits
48.50%Net loans and leases to core deposits
49.43%Equity capital to assets
7.39%Core capital (leverage) ratio
8.74%Tier 1 risk-based capital ratio
16.64%Total risk-based capital ratio
Memoranda
$18Average assets
$11,941Average earning assets
$906Average equity
$10,813Average loans

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