Farmers State Bank of West Concord in West Concord, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Farmers State Bank of West Concord in West Concord, Minnesota (MN)
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Farmers State Bank of West Concord routing number info

Farmers State Bank of West Concord - Overview

  • General
  • FDIC Certificate #: 8865
    Status: Active
    Federal Reserve ID: 777254
    Bank Holding Company (Regulatory Top Holder): West Concord Bancshares, Inc. (RSSDID: 1135619, Location: West Concord, MN)
    Date Established: June 02, 1930
    WWW: http://www.fsbmn.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 5659
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 181 Main Street, West Concord, MN 55985
    County: Dodge
    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
    Core Based Statistical Area (CBSA): Rochester, MN (#40340)
    CBSA Metro Statistical Area: Rochester, MN (#40340)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $47.4 mil
    Equity capital: $4.2 mil
    Deposits held in domestic offices: $42.7 mil
    Return on assets (ROA): 0.56% ($0.3 mil)
    Quarterly return on assets: 1.15% ($0.5 mil)
    Return on Equity (ROE): 6.70% ($0.3 mil)
    Quarterly return on equity: 13.05% ($0.5 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.56% ($265.5 mil)
    Quarterly Pretax return on assets: 1.15% ($545.3 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, 2011)

  • Dollar figures in thousands
  • 14Total employees (full-time equivalent)
  • $47,414Total assets
  • $4,940Cash and due from depository institutions
  • $960Interest-bearing balances
  • $15,992Securities
  • $1,000Federal funds sold & reverse repurchase agreements
  • $24,127Net loans & leases
  • $601Loan loss allowance
  • $0Trading account assets
  • $576Bank premises and fixed assets
  • $117Other real estate owned
  • $0Goodwill and other intangibles
  • $47,414Life insurance assets
  • $662All other assets
  • $43,181Total liabilities and capital
  • $42,658Total liabilities
  • $35,238Total deposits
  • $42,658Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $500Trading liabilities
  • $0Other borrowed funds
  • $23Subordinated debt
  • $4,233All other liabilities
  • $4,233Total equity capital
  • $4,233Total bank equity capital
  • $0Perpetual preferred stock
  • $25Common stock
  • $2,975Surplus
  • $1,233Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $74Income earned, not collected on loans
  • $0Earning assets
  • $314Long-term assets (5+ years)
  • $42,079Average Assets, year-to-date
  • $5,455Average Assets, quarterly
  • $46,904Volatile liabilities
  • $47,464Insider loans
  • $25,105FHLB advances
  • $45,984Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $3,908Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,436Restructured Loans and leases
  • $264Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,104Total interest income
  • $365Total interest expense
  • $1,739Net interest income
  • $5Provision for loan and lease losses
  • $155Total noninterest income
  • $0Fiduciary activities
  • $136Service charges on deposit accounts
  • $0Trading account gains & fees
  • $19Additional noninterest income
  • $1,710Total noninterest expense
  • $887Salaries and employee benefits
  • $177Premises and equipment expense
  • $646Additional noninterest expense
  • $179Pre-tax net operating income
  • $86Securities gains (losses)
  • $0Applicable income taxes
  • $265Income before extraordinary items
  • $0Extraordinary gains - net
  • $265Net income attributable to bank
  • $0Net charge-offs
  • $265Cash dividends
  • $228Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.05%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 4.17%Net interest margin
  • 0.37%Noninterest income to earning assets
  • 4.11%Noninterest expense to earning assets
  • 0.38%Net operating income to assets
  • 0.56%Return on assets (ROA)
  • 0.56%Pretax return on assets
  • 6.70%Return on equity (ROE)
  • 6.70%Retained earnings to average equity (YTD only)
  • 0.93%Net charge-offs to loans
  • 2.19%Credit loss provision to net charge-offs
  • 0.81%Efficiency ratio
  • 90,285Assets per employee
  • 3.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.43%Loss allowance to noncurrent loans
  • 812.16%Noncurrent assets plus other real estate owned to assets
  • 0.40%Noncurrent loans to loans
  • 0.30%Net loans and leases to deposits
  • 56.56%Net loans and leases to core deposits
  • 56.95%Equity capital to assets
  • 8.93%Core capital (leverage) ratio
  • 8.50%Tier 1 risk-based capital ratio
  • 15.57%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $46,904Average earning assets
  • $3,956Average equity
  • $41,656Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    05659Farmers State Bank Of West Concord181 Main Street, West Concord, MN 55985June 02, 1930Full Service Brick and Mortar
    2357114Dennison Branch37470 First Ave. Court, Dennison, MN 55018November 05, 1998Full Service Brick and Mortar

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