First Independent Bank in city_name, state_name - Detailed Financial Reports, Location

First Independent Bank in Russell, Minnesota (MN)
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First Independent Bank routing number info

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First Independent Bank - Overview

General
FDIC Certificate #: 1900
Status: Active
Federal Reserve ID: 761851
Bank Holding Company (Regulatory Top Holder): Finlayson Bancshares, Inc. (RSSDID: 1126037, Location: Finlayson, MN)
Date Established: January 01, 1903
WWW: http://www.fibmn.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 10527
FDIC's unique #: 1266
Numeric code: 21
Regulator: FDIC
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: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 31, 2011
Last Structure Change Process Date: January 11, 2012
Last Data Update: January 11, 2012
Data Source Date: April 05, 2012
Location
Address: 300 Front Street, Russell, MN 56169
County: Lyon
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Marshall, MN (#32140)
CBSA Micro Statistical Area: Yes
History of Changes
Participated in Absorption/Consolidation/Merger
Financial Summary
Total assets: $205.8 mil
Equity capital: $18.2 mil
Deposits held in domestic offices: $186.4 mil
Return on assets (ROA): 0.76% ($1.6 mil)
Quarterly return on assets: 0.69% ($1.4 mil)
Return on Equity (ROE): 7.97% ($1.4 mil)
Quarterly return on equity: 7.54% ($1.4 mil)
Net income: $1.3 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.16% ($2,386.9 mil)
Quarterly Pretax return on assets: 1.02% ($2,098.8 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
48Total employees (full-time equivalent)
$205,765Total assets
$8,018Cash and due from depository institutions
$1,871Interest-bearing balances
$43,476Securities
$9,214Federal funds sold & reverse repurchase agreements
$135,075Net loans & leases
$1,831Loan loss allowance
$0Trading account assets
$3,219Bank premises and fixed assets
$865Other real estate owned
$1,313Goodwill and other intangibles
$205,765Life insurance assets
$4,585All other assets
$187,584Total liabilities and capital
$186,432Total liabilities
$156,434Total deposits
$186,432Interest-bearing deposits
$97Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$249Trading liabilities
$0Other borrowed funds
$903Subordinated debt
$18,181All other liabilities
$18,181Total equity capital
$18,181Total bank equity capital
$0Perpetual preferred stock
$30Common stock
$9,470Surplus
$8,681Undivided profits
Memoranda
$0Noncurrent loans and leases
$1,556Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,648Income earned, not collected on loans
$0Earning assets
$1,981Long-term assets (5+ years)
$189,636Average Assets, year-to-date
$52,737Average Assets, quarterly
$167,931Volatile liabilities
$185,293Insider loans
$152,832FHLB advances
$165,185Loans and leases held for sale
$937Unused loan commitments
$937Tier 1 (core) risk-based capital
$16,240Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$33,127Restructured Loans and leases
$104Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$8,096Total interest income
$2,039Total interest expense
$6,057Net interest income
$279Provision for loan and lease losses
$573Total noninterest income
$0Fiduciary activities
$327Service charges on deposit accounts
$0Trading account gains & fees
$246Additional noninterest income
$4,402Total noninterest expense
$2,552Salaries and employee benefits
$710Premises and equipment expense
$1,140Additional noninterest expense
$1,949Pre-tax net operating income
$0Securities gains (losses)
$680Applicable income taxes
$1,269Income before extraordinary items
$0Extraordinary gains - net
$1,269Net income attributable to bank
$0Net charge-offs
$1,269Cash dividends
$419Sale, conversion, retirement of capital stock, net
$1,000Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.18%Yield on earning assets
1.31%Cost of funding earning assets
3.88%Net interest margin
0.37%Noninterest income to earning assets
2.82%Noninterest expense to earning assets
0.76%Net operating income to assets
0.76%Return on assets (ROA)
1.16%Pretax return on assets
7.97%Return on equity (ROE)
1.69%Retained earnings to average equity (YTD only)
0.36%Net charge-offs to loans
66.59%Credit loss provision to net charge-offs
5.32%Efficiency ratio
64,887Assets per employee
4.29%Cash dividends to net income (YTD only)
Condition Ratios (%)
78.80%Loss allowance to loans
1.34%Loss allowance to noncurrent loans
111.10%Noncurrent assets plus other real estate owned to assets
1.22%Noncurrent loans to loans
1.20%Net loans and leases to deposits
72.45%Net loans and leases to core deposits
74.79%Equity capital to assets
8.84%Core capital (leverage) ratio
9.83%Tier 1 risk-based capital ratio
10.63%Total risk-based capital ratio
Memoranda
$12Average assets
$167,931Average earning assets
$15,922Average equity
$156,201Average loans

List of branches

8 Minnesota Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	1266	First Independent Bank	300 Front Street, Russell, MN 56169	January 01, 1903	Full Service Brick and Mortar
2	190412	Balaton Branch	108 Third Street, Balaton, MN 56115	April 22, 1999	Full Service Brick and Mortar
4	266753	Marshall Branch	105 South Market, Marshall, MN 56258	January 01, 1923	Full Service Brick and Mortar
5	439914	Marshall Branch	1221 East Main Street, Marshall, MN 56258	April 13, 2005	Limited Service Retail
6	442555	Wal-Mart Location Branch	1221 East Main, Marshall, MN 56258	April 13, 2005	Full Service Retail
7	6779	First Independent Bank Of Wood Lake	Main Street, Wood Lake, MN 56297	April 01, 1902	Full Service Brick and Mortar
8	222758	Detached Facility	110 North Third Street, Hanley Falls, MN 56245	June 04, 1984	Full Service Brick and Mortar
9	10126	State Bank Of Lucan Branch	106 Main Street, Lucan, MN 56255	May 05, 1936	Full Service Brick and Mortar

First Independent Bank in Russell, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Independent Bank - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

First Independent Bank in Russell, Minnesota (MN)Overview, Financial Summary, Detailed Financial Reports, Branches

First Independent Bank - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

First Independent Bank in Russell, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches