FDIC Certificate #: 14979 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Flagship Bank Minnesota (#8188) Federal Reserve ID: 153858 Date Established: January 01, 1931 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 15485 FDIC's unique #: 9384 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 11, 1935 Last Structure Change Effective Date: October 12, 1999 Last Structure Change Process Date: November 17, 1999 Last Data Update: November 17, 1999 Data Source Date: April 05, 2012
Location
Address: 102 South Third Street, St. Peter, MN 56082 County: Nicollet 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 Core Based Statistical Area (CBSA): Mankato-North Mankato, MN (#31860) CBSA Metro Statistical Area: Mankato-North Mankato, MN (#31860)
Financial Summary
Total assets: $19.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
11Total employees (full-time equivalent)
$19,340Total assets
$610Cash and due from depository institutions
$0Interest-bearing balances
$5,083Securities
$533Federal funds sold & reverse repurchase agreements
$11,556Net loans & leases
$105Loan loss allowance
$0Trading account assets
$1,256Bank premises and fixed assets
$0Other real estate owned
$121Goodwill and other intangibles
$0Life insurance assets
$181All other assets
$19,340Total liabilities and capital
$17,824Total liabilities
$16,885Total deposits
$13,952Interest-bearing deposits
$16,885Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$672Other borrowed funds
$0Subordinated debt
$267All other liabilities
$1,516Total equity capital
$1,516Total bank equity capital
$1,516Perpetual preferred stock
$0Common stock
$50Surplus
$1,350Undivided profits
Memoranda
$116Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$23Earning assets
$0Long-term assets (5+ years)
$107Average Assets, year-to-date
$17,172Average Assets, quarterly
$919Volatile liabilities
$18,485Insider loans
$19,140FHLB advances
$1,971Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,411Total unused commitments
$0Restructured Loans and leases
$12,529Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$1,380Total interest income
$624Total interest expense
$756Net interest income
$12Provision for loan and lease losses
$225Total noninterest income
$0Fiduciary activities
$167Service charges on deposit accounts
$0Trading account gains & fees
$58Additional noninterest income
$836Total noninterest expense
$399Salaries and employee benefits
$144Premises and equipment expense
$293Additional noninterest expense
$133Pre-tax net operating income
$0Securities gains (losses)
$53Applicable income taxes
$84Income before extraordinary items
$0Extraordinary gains - net
$84Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$14Sale, conversion, retirement of capital stock, net
$80Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.54%Yield on earning assets
3.86%Cost of funding earning assets
4.68%Net interest margin
1.39%Noninterest income to earning assets
5.17%Noninterest expense to earning assets
0.45%Net operating income to assets
0.45%Return on assets (ROA)
0.74%Pretax return on assets
5.68%Return on equity (ROE)
0.27%Retained earnings to average equity (YTD only)
0.12%Net charge-offs to loans
85.71%Credit loss provision to net charge-offs
10.36%Efficiency ratio
83,894Assets per employee
1.76%Cash dividends to net income (YTD only)
Condition Ratios (%)
95.24%Loss allowance to loans
0.90%Loss allowance to noncurrent loans
456.52%Noncurrent assets plus other real estate owned to assets
0.12%Noncurrent loans to loans
0.20%Net loans and leases to deposits
68.44%Net loans and leases to core deposits
77.48%Equity capital to assets
7.84%Core capital (leverage) ratio
7.25%Tier 1 risk-based capital ratio
10.95%Total risk-based capital ratio
Memoranda
$12Average assets
$18,485Average earning assets
$1,480Average equity
$16,164Average loans
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