FDIC Certificate #: 10578 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Independent Bank (#1900) Federal Reserve ID: 841258 Date Established: April 01, 1902 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 15858 FDIC's unique #: 6779 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: November 29, 2008 Last Structure Change Process Date: January 06, 2009 Last Data Update: January 06, 2009 Data Source Date: April 05, 2012
Location
Address: Main Street, Wood Lake, MN 56297 County: Yellow Medicine 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
Financial Summary
Total assets: $17.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
7Total employees (full-time equivalent)
$15,321Total assets
$743Cash and due from depository institutions
$20Interest-bearing balances
$1,176Securities
$1,263Federal funds sold & reverse repurchase agreements
$11,487Net loans & leases
$187Loan loss allowance
$0Trading account assets
$110Bank premises and fixed assets
$19Other real estate owned
$130Goodwill and other intangibles
$0Life insurance assets
$393All other assets
$15,321Total liabilities and capital
$13,560Total liabilities
$13,516Total deposits
$11,227Interest-bearing deposits
$13,516Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$44All other liabilities
$1,761Total equity capital
$1,761Total bank equity capital
$1,761Perpetual preferred stock
$0Common stock
$50Surplus
$1,455Undivided profits
Memoranda
$256Noncurrent loans and leases
$2,335Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$127Earning assets
$0Long-term assets (5+ years)
$241Average Assets, year-to-date
$13,946Average Assets, quarterly
$2,544Volatile liabilities
$16,028Insider loans
$15,317FHLB advances
$504Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,335Total unused commitments
$216Restructured Loans and leases
$141Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$1,094Total interest income
$454Total interest expense
$640Net interest income
$170Provision for loan and lease losses
$98Total noninterest income
$0Fiduciary activities
$87Service charges on deposit accounts
$0Trading account gains & fees
$11Additional noninterest income
$500Total noninterest expense
$319Salaries and employee benefits
$47Premises and equipment expense
$134Additional noninterest expense
$68Pre-tax net operating income
$0Securities gains (losses)
$30Applicable income taxes
$38Income before extraordinary items
$0Extraordinary gains - net
$38Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$218Sale, conversion, retirement of capital stock, net
$125Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.45%Yield on earning assets
3.09%Cost of funding earning assets
4.36%Net interest margin
0.67%Noninterest income to earning assets
3.41%Noninterest expense to earning assets
0.24%Net operating income to assets
0.24%Return on assets (ROA)
0.42%Pretax return on assets
2.17%Return on equity (ROE)
-4.97%Retained earnings to average equity (YTD only)
1.74%Net charge-offs to loans
77.98%Credit loss provision to net charge-offs
1.09%Efficiency ratio
67,751Assets per employee
2.19%Cash dividends to net income (YTD only)
Condition Ratios (%)
328.95%Loss allowance to loans
1.60%Loss allowance to noncurrent loans
147.24%Noncurrent assets plus other real estate owned to assets
0.95%Noncurrent loans to loans
1.09%Net loans and leases to deposits
84.99%Net loans and leases to core deposits
88.28%Equity capital to assets
11.49%Core capital (leverage) ratio
10.34%Tier 1 risk-based capital ratio
14.48%Total risk-based capital ratio
Memoranda
$16Average assets
$16,028Average earning assets
$1,752Average equity
$14,680Average loans
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