Farmers State Bank in Elgin, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 11, 2006

Farmers State Bank in Elgin, North Dakota (ND)
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Farmers State Bank - Overview

General
FDIC Certificate #: 11514
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First International Bank & Trust (#10248)
Federal Reserve ID: 988957
Date Established: June 01, 1910
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 7358
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: March 11, 2006
Last Structure Change Process Date: March 30, 2006
Last Data Update: March 30, 2006
Data Source Date: April 05, 2012
Location
Address: 204 North Main, Elgin, ND 58533
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
Financial Summary
Total assets: $30.4 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, 2005)

Dollar figures in thousands
10Total employees (full-time equivalent)
$30,441Total assets
$793Cash and due from depository institutions
$0Interest-bearing balances
$6,880Securities
$400Federal funds sold & reverse repurchase agreements
$20,501Net loans & leases
$429Loan loss allowance
$0Trading account assets
$113Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,754All other assets
$30,441Total liabilities and capital
$27,575Total liabilities
$23,146Total deposits
$20,251Interest-bearing deposits
$23,146Deposits held in domestic offices
0.00%% insured (estimated)
$375Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,800Other borrowed funds
$0Subordinated debt
$254All other liabilities
$2,866Total equity capital
$2,866Total bank equity capital
$2,866Perpetual preferred stock
$0Common stock
$150Surplus
$2,150Undivided profits
Memoranda
$566Noncurrent loans and leases
$1,654Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$412Earning assets
$57Long-term assets (5+ years)
$790Average Assets, year-to-date
$27,781Average Assets, quarterly
$3,259Volatile liabilities
$29,992Insider loans
$31,139FHLB advances
$4,488Loans and leases held for sale
$0Unused loan commitments
$3,800Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,654Total unused commitments
$0Restructured Loans and leases
$284Derivatives

Income and Expense (December 31, 2005)

Dollar figures in thousands
$1,865Total interest income
$699Total interest expense
$1,166Net interest income
$215Provision for loan and lease losses
$120Total noninterest income
$0Fiduciary activities
$66Service charges on deposit accounts
$0Trading account gains & fees
$54Additional noninterest income
$586Total noninterest expense
$371Salaries and employee benefits
$77Premises and equipment expense
$138Additional noninterest expense
$485Pre-tax net operating income
-$23Securities gains (losses)
$23Applicable income taxes
$439Income before extraordinary items
$0Extraordinary gains - net
$439Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$192Sale, conversion, retirement of capital stock, net
$400Net operating income

Performance and Condition Ratios (December 31, 2005)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.74%Yield on earning assets
2.53%Cost of funding earning assets
4.22%Net interest margin
0.43%Noninterest income to earning assets
2.12%Noninterest expense to earning assets
1.54%Net operating income to assets
1.46%Return on assets (ROA)
1.54%Pretax return on assets
15.55%Return on equity (ROE)
1.38%Retained earnings to average equity (YTD only)
0.93%Net charge-offs to loans
111.98%Credit loss provision to net charge-offs
3.65%Efficiency ratio
45,568Assets per employee
3.04%Cash dividends to net income (YTD only)
Condition Ratios (%)
91.12%Loss allowance to loans
2.05%Loss allowance to noncurrent loans
104.13%Noncurrent assets plus other real estate owned to assets
1.35%Noncurrent loans to loans
1.97%Net loans and leases to deposits
88.57%Net loans and leases to core deposits
99.84%Equity capital to assets
9.41%Core capital (leverage) ratio
9.28%Tier 1 risk-based capital ratio
12.86%Total risk-based capital ratio
Memoranda
$14Average assets
$29,992Average earning assets
$2,824Average equity
$27,651Average loans

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