FDIC Certificate #: 18705 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Frandsen Bank & Trust (#1399) Federal Reserve ID: 697857 Date Established: Febuary 26, 1963 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) OTS Docket #: 12574 FDIC's unique #: 12574 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: Febuary 26, 1963 Last Structure Change Effective Date: August 18, 2008 Last Structure Change Process Date: September 09, 2008 Last Data Update: September 09, 2008 Data Source Date: April 05, 2012
Location
Address: 125 First Street South, Montgomery, MN 56069 County: Le Sueur Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West
Financial Summary
Total assets: $65.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
22Total employees (full-time equivalent)
$60,850Total assets
$2,005Cash and due from depository institutions
$0Interest-bearing balances
$7,385Securities
$5,019Federal funds sold & reverse repurchase agreements
$41,916Net loans & leases
$418Loan loss allowance
$0Trading account assets
$2,149Bank premises and fixed assets
$399Other real estate owned
$0Goodwill and other intangibles
$1,246Life insurance assets
$1,977All other assets
$60,850Total liabilities and capital
$53,677Total liabilities
$52,893Total deposits
$45,434Interest-bearing deposits
$52,893Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$120Other borrowed funds
$0Subordinated debt
$664All other liabilities
$7,173Total equity capital
$7,173Total bank equity capital
$7,173Perpetual preferred stock
$0Common stock
$185Surplus
$255Undivided profits
Memoranda
$6,733Noncurrent loans and leases
$3,421Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$30Earning assets
$0Long-term assets (5+ years)
$340Average Assets, year-to-date
$54,320Average Assets, quarterly
$4,259Volatile liabilities
$62,231Insider loans
$61,941FHLB advances
$2,530Loans and leases held for sale
$121Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,421Total unused commitments
$588Restructured Loans and leases
$418Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$3,740Total interest income
$1,617Total interest expense
$2,123Net interest income
$125Provision for loan and lease losses
$301Total noninterest income
$0Fiduciary activities
$46Service charges on deposit accounts
$0Trading account gains & fees
$255Additional noninterest income
$1,934Total noninterest expense
$1,268Salaries and employee benefits
$47Premises and equipment expense
$619Additional noninterest expense
$365Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$365Income before extraordinary items
$0Extraordinary gains - net
$365Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$334Sale, conversion, retirement of capital stock, net
$254Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.66%Yield on earning assets
2.88%Cost of funding earning assets
3.78%Net interest margin
0.54%Noninterest income to earning assets
3.44%Noninterest expense to earning assets
0.59%Net operating income to assets
0.59%Return on assets (ROA)
0.59%Pretax return on assets
5.14%Return on equity (ROE)
1.56%Retained earnings to average equity (YTD only)
0.77%Net charge-offs to loans
37.43%Credit loss provision to net charge-offs
1.47%Efficiency ratio
79,785Assets per employee
2.77%Cash dividends to net income (YTD only)
Condition Ratios (%)
69.59%Loss allowance to loans
0.99%Loss allowance to noncurrent loans
1393.33%Noncurrent assets plus other real estate owned to assets
0.71%Noncurrent loans to loans
0.07%Net loans and leases to deposits
79.25%Net loans and leases to core deposits
83.23%Equity capital to assets
11.79%Core capital (leverage) ratio
11.39%Tier 1 risk-based capital ratio
17.33%Total risk-based capital ratio
Memoranda
$18Average assets
$62,231Average earning assets
$7,107Average equity
$56,141Average loans
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