First American Bank of Larimore in Larimore, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 1995

First American Bank of Larimore in Larimore, North Dakota (ND)
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First American Bank of Larimore - Overview

General
FDIC Certificate #: 2056
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Bremer Bank, National Association (#2055)
Federal Reserve ID: 866653
Date Established: January 01, 1930
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 1360
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: July 01, 1995
Last Structure Change Process Date: July 18, 1995
Last Data Update: July 18, 1995
Data Source Date: April 05, 2012
Location
Address: Main Street, Larimore, ND 58251
County: Grand Forks
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Grand Forks, ND-MN (#2985)
Core Based Statistical Area (CBSA): Grand Forks, ND-MN (#24220)
CBSA Metro Statistical Area: Grand Forks, ND-MN (#24220)
Financial Summary
Total assets: $32.5 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$9Total assets
$30,905Cash and due from depository institutions
$951Interest-bearing balances
$0Securities
$14,080Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$14,887Loan loss allowance
$459Trading account assets
$0Bank premises and fixed assets
$188Other real estate owned
$0Goodwill and other intangibles
$799Life insurance assets
$0All other assets
$0Total liabilities and capital
$30,905Total liabilities
$27,812Total deposits
$25,512Interest-bearing deposits
$22,687Deposits held in domestic offices
25512.00%% insured (estimated)
$99Federal funds purchased & repurchase agreements
$1,980Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$320Total equity capital
$320Total bank equity capital
$3,093Perpetual preferred stock
$0Common stock
$600Surplus
$1,300Undivided profits
Memoranda
$1,193Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$17Income earned, not collected on loans
$343Earning assets
$28,967Long-term assets (5+ years)
$9,646Average Assets, year-to-date
$30,707Average Assets, quarterly
$31,495Volatile liabilities
$2,489Insider loans
$19FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$3,503Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,245Total risk weighted assets
$19,149Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$2,176Total interest expense
$853Net interest income
$1,323Provision for loan and lease losses
-$100Total noninterest income
$142Fiduciary activities
$0Service charges on deposit accounts
$103Trading account gains & fees
$0Additional noninterest income
$39Total noninterest expense
$837Salaries and employee benefits
$409Premises and equipment expense
$67Additional noninterest expense
$361Pre-tax net operating income
$728Securities gains (losses)
$18Applicable income taxes
$219Income before extraordinary items
$527Extraordinary gains - net
$0Net income attributable to bank
$527Net charge-offs
-$27Cash dividends
$439Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.49%Cost of funding earning assets
2.93%Net interest margin
4.55%Noninterest income to earning assets
0.49%Noninterest expense to earning assets
2.88%Net operating income to assets
1.67%Return on assets (ROA)
1.72%Pretax return on assets
2.43%Return on equity (ROE)
16.77%Retained earnings to average equity (YTD only)
2.80%Net charge-offs to loans
-0.18%Credit loss provision to net charge-offs
370.37%Efficiency ratio
57,133Assets per employee
3.43%Cash dividends to net income (YTD only)
Condition Ratios (%)
83.30%Loss allowance to loans
2.99%Loss allowance to noncurrent loans
2700.00%Noncurrent assets plus other real estate owned to assets
0.06%Noncurrent loans to loans
0.11%Net loans and leases to deposits
58.35%Net loans and leases to core deposits
59.54%Equity capital to assets
10.01%Core capital (leverage) ratio
10.48%Tier 1 risk-based capital ratio
16.95%Total risk-based capital ratio
Memoranda
$18Average assets
$30,707Average earning assets
$3,143Average equity
$29,065Average loans

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