Fortress Bank of Cresco in Cresco, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 26, 2007

Fortress Bank of Cresco in Cresco, Iowa (IA)
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Fortress Bank of Cresco - Overview

General
FDIC Certificate #: 34223
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Decorah Bank & Trust Company (#15200)
Federal Reserve ID: 2461641
Date Established: August 19, 1996
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 56982
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: August 19, 1996
Last Structure Change Effective Date: October 26, 2007
Last Structure Change Process Date: November 20, 2007
Last Data Update: November 20, 2007
Data Source Date: April 05, 2012
Location
Address: 126 2nd Avenue Se, Cresco, IA 52136
County: Howard
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Cedar Rapids
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $82.0 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, 2006)

Dollar figures in thousands
27Total employees (full-time equivalent)
$81,888Total assets
$2,849Cash and due from depository institutions
$78Interest-bearing balances
$13,711Securities
$12Federal funds sold & reverse repurchase agreements
$55,704Net loans & leases
$487Loan loss allowance
$0Trading account assets
$4,597Bank premises and fixed assets
$0Other real estate owned
$3,604Goodwill and other intangibles
$0Life insurance assets
$1,411All other assets
$81,888Total liabilities and capital
$72,228Total liabilities
$58,787Total deposits
$55,699Interest-bearing deposits
$58,787Deposits held in domestic offices
0.00%% insured (estimated)
$4,322Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,615Other borrowed funds
$0Subordinated debt
$504All other liabilities
$9,660Total equity capital
$9,660Total bank equity capital
$9,660Perpetual preferred stock
$0Common stock
$100Surplus
$9,239Undivided profits
Memoranda
$321Noncurrent loans and leases
$16,032Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$142Earning assets
$0Long-term assets (5+ years)
$786Average Assets, year-to-date
$69,505Average Assets, quarterly
$9,897Volatile liabilities
$80,494Insider loans
$82,121FHLB advances
$17,125Loans and leases held for sale
$3,693Unused loan commitments
$8,615Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$16,032Total unused commitments
$0Restructured Loans and leases
$487Derivatives

Income and Expense (December 31, 2006)

Dollar figures in thousands
$4,877Total interest income
$2,345Total interest expense
$2,532Net interest income
$0Provision for loan and lease losses
$456Total noninterest income
$0Fiduciary activities
$318Service charges on deposit accounts
$0Trading account gains & fees
$138Additional noninterest income
$2,217Total noninterest expense
$1,206Salaries and employee benefits
$272Premises and equipment expense
$739Additional noninterest expense
$771Pre-tax net operating income
$0Securities gains (losses)
$251Applicable income taxes
$520Income before extraordinary items
$0Extraordinary gains - net
$520Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$39Sale, conversion, retirement of capital stock, net
$375Net operating income

Performance and Condition Ratios (December 31, 2006)

Dollar figures in thousands
Performance Ratios (%, annualized)
7.11%Yield on earning assets
3.42%Cost of funding earning assets
3.69%Net interest margin
0.66%Noninterest income to earning assets
3.23%Noninterest expense to earning assets
0.65%Net operating income to assets
0.65%Return on assets (ROA)
0.96%Pretax return on assets
5.48%Return on equity (ROE)
1.53%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
19.77%Efficiency ratio
72,155Assets per employee
3.03%Cash dividends to net income (YTD only)
Condition Ratios (%)
72.12%Loss allowance to loans
0.87%Loss allowance to noncurrent loans
342.96%Noncurrent assets plus other real estate owned to assets
0.17%Noncurrent loans to loans
0.25%Net loans and leases to deposits
94.76%Net loans and leases to core deposits
121.14%Equity capital to assets
11.80%Core capital (leverage) ratio
7.94%Tier 1 risk-based capital ratio
9.83%Total risk-based capital ratio
Memoranda
$11Average assets
$80,494Average earning assets
$9,497Average equity
$68,627Average loans

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