First National Bank of Montgomery in Montgomery, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 18, 2008

  • First National Bank of Montgomery in Montgomery, Minnesota (MN)
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First National Bank of Montgomery - Overview

  • General
  • 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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