FDIC Certificate #: 8857 Status: Active Federal Reserve ID: 79257 Date Established: December 07, 1907 WWW:http://www.bankofgrovecity.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 5652 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 110 Atlantic Avenue West, Grove City, MN 56243 County: Meeker 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
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $21.5 mil Equity capital: $4.3 mil Deposits held in domestic offices: $17.2 mil Return on assets (ROA): 1.60% ($0.4 mil) Quarterly return on assets: 0.68% ($0.1 mil) Return on Equity (ROE): 8.49% ($0.3 mil) Quarterly return on equity: 3.45% ($0.1 mil) Net income: $0.4 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.60% ($344.6 mil) Quarterly Pretax return on assets: 0.68% ($146.5 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
7Total employees (full-time equivalent)
$21,539Total assets
$5,752Cash and due from depository institutions
$4,584Interest-bearing balances
$1,259Securities
$0Federal funds sold & reverse repurchase agreements
$14,099Net loans & leases
$322Loan loss allowance
$0Trading account assets
$132Bank premises and fixed assets
$38Other real estate owned
$0Goodwill and other intangibles
$21,539Life insurance assets
$259All other assets
$17,243Total liabilities and capital
$17,205Total liabilities
$13,526Total deposits
$17,205Interest-bearing deposits
$94Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$38Subordinated debt
$4,296All other liabilities
$4,296Total equity capital
$4,296Total bank equity capital
$0Perpetual preferred stock
$50Common stock
$2,200Surplus
$2,046Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$359Income earned, not collected on loans
$0Earning assets
$150Long-term assets (5+ years)
$19,942Average Assets, year-to-date
$696Average Assets, quarterly
$22,349Volatile liabilities
$21,798Insider loans
$14,215FHLB advances
$22,141Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$4,262Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$1,686Restructured Loans and leases
$115Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$1,139Total interest income
$209Total interest expense
$930Net interest income
$133Provision for loan and lease losses
$144Total noninterest income
$0Fiduciary activities
$107Service charges on deposit accounts
$0Trading account gains & fees
$37Additional noninterest income
$583Total noninterest expense
$364Salaries and employee benefits
$82Premises and equipment expense
$137Additional noninterest expense
$358Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$358Income before extraordinary items
$0Extraordinary gains - net
$358Net income attributable to bank
$0Net charge-offs
$358Cash dividends
$55Sale, conversion, retirement of capital stock, net
$129Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.45%Yield on earning assets
1.00%Cost of funding earning assets
4.45%Net interest margin
0.69%Noninterest income to earning assets
2.79%Noninterest expense to earning assets
1.60%Net operating income to assets
1.60%Return on assets (ROA)
1.60%Pretax return on assets
8.49%Return on equity (ROE)
5.43%Retained earnings to average equity (YTD only)
0.38%Net charge-offs to loans
241.82%Credit loss provision to net charge-offs
8.93%Efficiency ratio
54,283Assets per employee
3.08%Cash dividends to net income (YTD only)
Condition Ratios (%)
36.03%Loss allowance to loans
2.23%Loss allowance to noncurrent loans
89.69%Noncurrent assets plus other real estate owned to assets
1.84%Noncurrent loans to loans
2.49%Net loans and leases to deposits
81.95%Net loans and leases to core deposits
86.24%Equity capital to assets
19.95%Core capital (leverage) ratio
19.25%Tier 1 risk-based capital ratio
29.98%Total risk-based capital ratio
Memoranda
$31Average assets
$22,349Average earning assets
$4,215Average equity
$20,886Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
5652
First State Bank Of Grove City
110 Atlantic Avenue West, Grove City, MN 56243
December 07, 1907
Full Service Brick and Mortar
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