First National Bank of Valley City in Valley City, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 24, 1998

First National Bank of Valley City in Valley City, North Dakota (ND)
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First National Bank of Valley City - Overview

General
FDIC Certificate #: 3961
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Wells Fargo Bank North Dakota, National Association (#3922)
Federal Reserve ID: 785651
Date Established: January 01, 1929
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 #: 13817
FDIC's unique #: 2577
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 24, 1998
Last Structure Change Process Date: December 07, 1998
Last Data Update: December 07, 1998
Data Source Date: April 05, 2012
Location
Address: 201 Central Avenue, Valley City, ND 58072
County: Barnes
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial Summary
Total assets: $50.4 mil

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

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

Dollar figures in thousands
26Total employees (full-time equivalent)
$58,942Total assets
$2,754Cash and due from depository institutions
$22Interest-bearing balances
$12,708Securities
$2,925Federal funds sold & reverse repurchase agreements
$38,723Net loans & leases
$267Loan loss allowance
$0Trading account assets
$864Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$968All other assets
$58,942Total liabilities and capital
$53,998Total liabilities
$49,007Total deposits
$42,558Interest-bearing deposits
$49,007Deposits held in domestic offices
0.00%% insured (estimated)
$3,775Federal funds purchased & repurchase agreements
$0Trading liabilities
$451Other borrowed funds
$0Subordinated debt
$765All other liabilities
$4,944Total equity capital
$4,944Total bank equity capital
$4,944Perpetual preferred stock
$0Common stock
$1,000Surplus
$1,000Undivided profits
Memoranda
$2,944Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$14Earning assets
$0Long-term assets (5+ years)
$765Average Assets, year-to-date
$54,378Average Assets, quarterly
$3,613Volatile liabilities
$57,846Insider loans
$59,601FHLB advances
$6,640Loans and leases held for sale
$2,420Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,371Total unused commitments
$0Restructured Loans and leases
$44,226Derivatives

Income and Expense (December 31, 1997)

Dollar figures in thousands
$4,658Total interest income
$2,241Total interest expense
$2,417Net interest income
$3Provision for loan and lease losses
$261Total noninterest income
$0Fiduciary activities
$90Service charges on deposit accounts
$0Trading account gains & fees
$171Additional noninterest income
$1,555Total noninterest expense
$936Salaries and employee benefits
$225Premises and equipment expense
$394Additional noninterest expense
$1,120Pre-tax net operating income
$2Securities gains (losses)
$381Applicable income taxes
$741Income before extraordinary items
$0Extraordinary gains - net
$741Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1997)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.65%Yield on earning assets
4.16%Cost of funding earning assets
4.49%Net interest margin
0.48%Noninterest income to earning assets
2.89%Noninterest expense to earning assets
1.28%Net operating income to assets
1.28%Return on assets (ROA)
1.94%Pretax return on assets
16.42%Return on equity (ROE)
16.42%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
58,066Assets per employee
2.27%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.68%Loss allowance to noncurrent loans
1907.14%Noncurrent assets plus other real estate owned to assets
0.02%Noncurrent loans to loans
0.04%Net loans and leases to deposits
79.02%Net loans and leases to core deposits
83.83%Equity capital to assets
8.39%Core capital (leverage) ratio
8.35%Tier 1 risk-based capital ratio
11.05%Total risk-based capital ratio
Memoranda
$12Average assets
$57,846Average earning assets
$4,514Average equity
$53,831Average loans

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