Corn Belt State Bank in Correctionville, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 01, 1993

  • Corn Belt State Bank in Correctionville, Iowa (IA)
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Corn Belt State Bank - Overview

  • General
  • FDIC Certificate #: 12413
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Union National Bank (#26246)
    Federal Reserve ID: 212045
    Date Established: September 07, 1931
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 7898
    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: November 01, 1993
    Last Structure Change Process Date: November 19, 1993
    Last Data Update: November 19, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 504 Driftwood, Correctionville, IA 51015
    County: Woodbury
    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
    Metropolitan Statistical Area (MSA): Sioux City, IA-NE (#7720)
    Combined Statistical Area (CSA): Sioux City-Vermillion, IA-NE-SD (#512)
    Core Based Statistical Area (CBSA): Sioux City, IA-NE-SD (#43580)
    CBSA Metro Statistical Area: Sioux City, IA-NE-SD (#43580)
  • Financial Summary
  • Total assets: $14.3 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $8Total assets
  • $15,707Cash and due from depository institutions
  • $1,951Interest-bearing balances
  • $1,088Securities
  • $4,918Federal funds sold & reverse repurchase agreements
  • $450Net loans & leases
  • $8,016Loan loss allowance
  • $146Trading account assets
  • $0Bank premises and fixed assets
  • $31Other real estate owned
  • $8Goodwill and other intangibles
  • $333Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $15,707Total liabilities
  • $14,426Total deposits
  • $14,223Interest-bearing deposits
  • $12,764Deposits held in domestic offices
  • 14223.00%% insured (estimated)
  • $96Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $203Total equity capital
  • $203Total bank equity capital
  • $1,281Perpetual preferred stock
  • $0Common stock
  • $200Surplus
  • $550Undivided profits
  • Memoranda
  • $531Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $238Income earned, not collected on loans
  • $241Earning assets
  • $14,472Long-term assets (5+ years)
  • $316Average Assets, year-to-date
  • $15,094Average Assets, quarterly
  • $15,145Volatile liabilities
  • $405Insider loans
  • $85FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $447Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $1,281Total risk weighted assets
  • $9,752Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $1,226Total interest expense
  • $565Net interest income
  • $661Provision for loan and lease losses
  • $36Total noninterest income
  • $79Fiduciary activities
  • $0Service charges on deposit accounts
  • $69Trading account gains & fees
  • $0Additional noninterest income
  • $10Total noninterest expense
  • $401Salaries and employee benefits
  • $207Premises and equipment expense
  • $30Additional noninterest expense
  • $164Pre-tax net operating income
  • $303Securities gains (losses)
  • $0Applicable income taxes
  • $92Income before extraordinary items
  • $211Extraordinary gains - net
  • $0Net income attributable to bank
  • $211Net charge-offs
  • $15Cash dividends
  • $130Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.72%Cost of funding earning assets
  • 4.02%Net interest margin
  • 4.70%Noninterest income to earning assets
  • 0.56%Noninterest expense to earning assets
  • 2.85%Net operating income to assets
  • 1.40%Return on assets (ROA)
  • 1.40%Pretax return on assets
  • 2.01%Return on equity (ROE)
  • 16.83%Retained earnings to average equity (YTD only)
  • 6.46%Net charge-offs to loans
  • 0.18%Credit loss provision to net charge-offs
  • 240.00%Efficiency ratio
  • 54,189Assets per employee
  • 1.96%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 61.61%Loss allowance to loans
  • 1.79%Loss allowance to noncurrent loans
  • 61.34%Noncurrent assets plus other real estate owned to assets
  • 1.57%Noncurrent loans to loans
  • 2.92%Net loans and leases to deposits
  • 56.36%Net loans and leases to core deposits
  • 58.01%Equity capital to assets
  • 8.16%Core capital (leverage) ratio
  • 8.41%Tier 1 risk-based capital ratio
  • 13.14%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $15,094Average earning assets
  • $1,254Average equity
  • $14,067Average loans

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