FDIC Certificate #: 16286 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Southeast Bank (#10576) Federal Reserve ID: 370150 Date Established: June 28, 1945 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 15665 FDIC's unique #: 10474 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: July 07, 1945 Last Structure Change Effective Date: August 27, 2011 Last Structure Change Process Date: September 19, 2011 Last Data Update: September 19, 2011 Data Source Date: April 05, 2012
Location
Address: 111 N Main St, Canton, MN 55922 County: Fillmore 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
Financial Summary
Total assets: $25.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
7Total employees (full-time equivalent)
$26,846Total assets
$1,514Cash and due from depository institutions
$0Interest-bearing balances
$4,304Securities
$2,050Federal funds sold & reverse repurchase agreements
$18,188Net loans & leases
$279Loan loss allowance
$0Trading account assets
$165Bank premises and fixed assets
$94Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$531All other assets
$26,846Total liabilities and capital
$24,571Total liabilities
$24,377Total deposits
$21,474Interest-bearing deposits
$24,377Deposits held in domestic offices
97.42%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$100Other borrowed funds
$0Subordinated debt
$94All other liabilities
$2,275Total equity capital
$2,275Total bank equity capital
$2,275Perpetual preferred stock
$0Common stock
$50Surplus
$1,700Undivided profits
Memoranda
$525Noncurrent loans and leases
$1,925Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$14Earning assets
$0Long-term assets (5+ years)
$270Average Assets, year-to-date
$24,542Average Assets, quarterly
$3,612Volatile liabilities
$28,050Insider loans
$26,707FHLB advances
$3,675Loans and leases held for sale
$382Unused loan commitments
$100Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,925Total unused commitments
$0Restructured Loans and leases
$249Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$1,389Total interest income
$460Total interest expense
$929Net interest income
$253Provision for loan and lease losses
$25Total noninterest income
$0Fiduciary activities
$90Service charges on deposit accounts
$0Trading account gains & fees
-$65Additional noninterest income
$820Total noninterest expense
$431Salaries and employee benefits
$83Premises and equipment expense
$306Additional noninterest expense
-$119Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$119Income before extraordinary items
$0Extraordinary gains - net
-$119Net income attributable to bank
$0Net charge-offs
-$119Cash dividends
$287Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.31%Yield on earning assets
1.76%Cost of funding earning assets
3.55%Net interest margin
0.10%Noninterest income to earning assets
3.13%Noninterest expense to earning assets
-0.42%Net operating income to assets
-0.42%Return on assets (ROA)
-0.42%Pretax return on assets
-5.07%Return on equity (ROE)
-5.07%Retained earnings to average equity (YTD only)
1.54%Net charge-offs to loans
88.15%Credit loss provision to net charge-offs
0.47%Efficiency ratio
85,954Assets per employee
3.84%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.51%Loss allowance to noncurrent loans
1992.86%Noncurrent assets plus other real estate owned to assets
0.40%Noncurrent loans to loans
0.08%Net loans and leases to deposits
74.61%Net loans and leases to core deposits
87.86%Equity capital to assets
8.47%Core capital (leverage) ratio
7.98%Tier 1 risk-based capital ratio
10.98%Total risk-based capital ratio
Memoranda
$12Average assets
$28,050Average earning assets
$2,349Average equity
$26,182Average loans
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