Citizens State Bank of Gaylord in Gaylord, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 28, 2002

Citizens State Bank of Gaylord in Gaylord, Minnesota (MN)
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Citizens State Bank of Gaylord - Overview

General
FDIC Certificate #: 1400
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: ProGrowth Bank (#8536)
Federal Reserve ID: 974950
Date Established: March 01, 1904
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
OTS Docket #: 13020
FDIC's unique #: 922
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: June 28, 2002
Last Structure Change Process Date: July 10, 2002
Last Data Update: July 10, 2002
Data Source Date: April 05, 2012
Location
Address: 320 Main Street, Gaylord, MN 55334
County: Sibley
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Mankato
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial Summary
Total assets: $54.2 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
17Total employees (full-time equivalent)
$54,890Total assets
$2,071Cash and due from depository institutions
$205Interest-bearing balances
$7,940Securities
$635Federal funds sold & reverse repurchase agreements
$41,146Net loans & leases
$665Loan loss allowance
$0Trading account assets
$688Bank premises and fixed assets
$761Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,649All other assets
$54,890Total liabilities and capital
$50,262Total liabilities
$42,354Total deposits
$39,609Interest-bearing deposits
$42,354Deposits held in domestic offices
0.00%% insured (estimated)
$20Federal funds purchased & repurchase agreements
$0Trading liabilities
$7,400Other borrowed funds
$0Subordinated debt
$488All other liabilities
$4,628Total equity capital
$4,628Total bank equity capital
$4,628Perpetual preferred stock
$0Common stock
$100Surplus
$2,400Undivided profits
Memoranda
$2,128Noncurrent loans and leases
$5,583Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,674Earning assets
$70Long-term assets (5+ years)
$621Average Assets, year-to-date
$49,926Average Assets, quarterly
$13,227Volatile liabilities
$53,169Insider loans
$54,587FHLB advances
$7,511Loans and leases held for sale
$302Unused loan commitments
$7,400Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,583Total unused commitments
$412Restructured Loans and leases
$515Derivatives

Income and Expense (December 31, 2001)

Dollar figures in thousands
$4,253Total interest income
$2,290Total interest expense
$1,963Net interest income
$165Provision for loan and lease losses
$218Total noninterest income
$0Fiduciary activities
$138Service charges on deposit accounts
$0Trading account gains & fees
$80Additional noninterest income
$1,602Total noninterest expense
$982Salaries and employee benefits
$212Premises and equipment expense
$408Additional noninterest expense
$414Pre-tax net operating income
$150Securities gains (losses)
$220Applicable income taxes
$344Income before extraordinary items
$0Extraordinary gains - net
$344Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$241Sale, conversion, retirement of capital stock, net
$365Net operating income

Performance and Condition Ratios (December 31, 2001)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.65%Yield on earning assets
4.66%Cost of funding earning assets
3.99%Net interest margin
0.44%Noninterest income to earning assets
3.26%Noninterest expense to earning assets
0.47%Net operating income to assets
0.65%Return on assets (ROA)
1.06%Pretax return on assets
7.53%Return on equity (ROE)
-0.46%Retained earnings to average equity (YTD only)
0.59%Net charge-offs to loans
68.46%Credit loss provision to net charge-offs
2.40%Efficiency ratio
73,453Assets per employee
3.23%Cash dividends to net income (YTD only)
Condition Ratios (%)
106.10%Loss allowance to loans
1.59%Loss allowance to noncurrent loans
39.73%Noncurrent assets plus other real estate owned to assets
4.44%Noncurrent loans to loans
4.00%Net loans and leases to deposits
97.15%Net loans and leases to core deposits
116.03%Equity capital to assets
8.43%Core capital (leverage) ratio
8.54%Tier 1 risk-based capital ratio
11.26%Total risk-based capital ratio
Memoranda
$13Average assets
$53,169Average earning assets
$4,566Average equity
$49,172Average loans

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