Farmers and Merchants State Bank of Cook, Incorporated in Cook, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 1994

Farmers and Merchants State Bank of Cook, Incorporated in Cook, Minnesota (MN)
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Farmers and Merchants State Bank of Cook, Incorporated - Overview

General
FDIC Certificate #: 10183
Status: Inactive
Closing history: Corrections
Acquiring institution: First National Bank (#5113)
Federal Reserve ID: 117252
Date Established: September 09, 1917
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 6523
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: January 01, 1994
Last Structure Change Process Date: January 06, 1994
Last Data Update: Febuary 08, 1994
Data Source Date: April 05, 2012
Location
Address: Main Street, Cook, MN 55723
County: St. Louis
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
Metropolitan Statistical Area (MSA): Duluth-Superior, MN-WI (#2240)
Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $9.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

Dollar figures in thousands
0Total employees (full-time equivalent)
$6Total assets
$9,759Cash and due from depository institutions
$1,834Interest-bearing balances
$0Securities
$1,602Federal funds sold & reverse repurchase agreements
$2,008Net loans & leases
$3,935Loan loss allowance
$80Trading account assets
$0Bank premises and fixed assets
$153Other real estate owned
$0Goodwill and other intangibles
$66Life insurance assets
$161All other assets
$0Total liabilities and capital
$9,759Total liabilities
$8,600Total deposits
$8,577Interest-bearing deposits
$6,118Deposits held in domestic offices
8577.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$23Total equity capital
$23Total bank equity capital
$1,159Perpetual preferred stock
$0Common stock
$60Surplus
$1,075Undivided profits
Memoranda
$24Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$10Income earned, not collected on loans
$27Earning assets
$7,545Long-term assets (5+ years)
$1,169Average Assets, year-to-date
$9,283Average Assets, quarterly
$9,620Volatile liabilities
$200Insider loans
$0FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$998Total risk weighted assets
$4,052Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$558Total interest expense
$186Net interest income
$372Provision for loan and lease losses
$0Total noninterest income
$77Fiduciary activities
$0Service charges on deposit accounts
$51Trading account gains & fees
$0Additional noninterest income
$26Total noninterest expense
$445Salaries and employee benefits
$221Premises and equipment expense
$17Additional noninterest expense
$207Pre-tax net operating income
$4Securities gains (losses)
$12Applicable income taxes
$5Income before extraordinary items
$11Extraordinary gains - net
$13Net income attributable to bank
$24Net charge-offs
$1Cash dividends
$0Sale, conversion, retirement of capital stock, net
$200Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.45%Cost of funding earning assets
2.48%Net interest margin
4.97%Noninterest income to earning assets
1.03%Noninterest expense to earning assets
5.95%Net operating income to assets
0.03%Return on assets (ROA)
0.26%Pretax return on assets
0.31%Return on equity (ROE)
2.16%Retained earnings to average equity (YTD only)
2.16%Net charge-offs to loans
0.03%Credit loss provision to net charge-offs
0.00%Efficiency ratio
90,200Assets per employee
1.63%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.99%Loss allowance to noncurrent loans
800.00%Noncurrent assets plus other real estate owned to assets
0.10%Noncurrent loans to loans
0.25%Net loans and leases to deposits
45.88%Net loans and leases to core deposits
46.97%Equity capital to assets
11.88%Core capital (leverage) ratio
10.75%Tier 1 risk-based capital ratio
24.63%Total risk-based capital ratio
Memoranda
$26Average assets
$9,283Average earning assets
$1,109Average equity
$7,485Average loans

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