FDIC Certificate #: 10986 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Security Bank - Canby. (#5107) Federal Reserve ID: 985657 Date Established: December 12, 1906 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 10983 FDIC's unique #: 7038 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: April 08, 2011 Last Structure Change Process Date: June 08, 2011 Last Data Update: June 08, 2011 Data Source Date: April 05, 2012
Location
Address: 107 North Center Street, Lake Benton, MN 56149 County: Lincoln 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: $23.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
7Total employees (full-time equivalent)
$23,729Total assets
$4,887Cash and due from depository institutions
$3,602Interest-bearing balances
$7,134Securities
$0Federal funds sold & reverse repurchase agreements
$11,041Net loans & leases
$306Loan loss allowance
$0Trading account assets
$146Bank premises and fixed assets
$124Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$397All other assets
$23,729Total liabilities and capital
$21,233Total liabilities
$21,166Total deposits
$15,807Interest-bearing deposits
$21,166Deposits held in domestic offices
93.46%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$67All other liabilities
$2,496Total equity capital
$2,496Total bank equity capital
$2,496Perpetual preferred stock
$0Common stock
$300Surplus
$1,200Undivided profits
Memoranda
$996Noncurrent loans and leases
$1,211Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$6Earning assets
$0Long-term assets (5+ years)
$276Average Assets, year-to-date
$21,777Average Assets, quarterly
$7,492Volatile liabilities
$22,028Insider loans
$22,787FHLB advances
$590Loans and leases held for sale
$23Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,211Total unused commitments
$31Restructured Loans and leases
$185Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$1,205Total interest income
$148Total interest expense
$1,057Net interest income
$60Provision for loan and lease losses
$74Total noninterest income
$0Fiduciary activities
$63Service charges on deposit accounts
$0Trading account gains & fees
$11Additional noninterest income
$766Total noninterest expense
$335Salaries and employee benefits
$54Premises and equipment expense
$377Additional noninterest expense
$305Pre-tax net operating income
$45Securities gains (losses)
$0Applicable income taxes
$350Income before extraordinary items
$0Extraordinary gains - net
$350Net income attributable to bank
$0Net charge-offs
$350Cash dividends
$38Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.97%Yield on earning assets
0.73%Cost of funding earning assets
5.24%Net interest margin
0.37%Noninterest income to earning assets
3.80%Noninterest expense to earning assets
1.38%Net operating income to assets
1.59%Return on assets (ROA)
1.59%Pretax return on assets
16.41%Return on equity (ROE)
16.41%Retained earnings to average equity (YTD only)
0.31%Net charge-offs to loans
157.89%Credit loss provision to net charge-offs
9.61%Efficiency ratio
67,728Assets per employee
3.39%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.70%Loss allowance to noncurrent loans
5100.00%Noncurrent assets plus other real estate owned to assets
0.55%Noncurrent loans to loans
0.05%Net loans and leases to deposits
52.16%Net loans and leases to core deposits
53.66%Equity capital to assets
10.52%Core capital (leverage) ratio
10.31%Tier 1 risk-based capital ratio
16.67%Total risk-based capital ratio
Memoranda
$18Average assets
$22,028Average earning assets
$2,132Average equity
$20,181Average loans
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