FDIC Certificate #: 9733 Status: Active Federal Reserve ID: 58355 Bank Holding Company (Regulatory Top Holder): Kent Bancshares, Inc. (RSSDID: 1128835, Location: Kent, MN) Date Established: July 14, 1902 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 #: 6224 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: No 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: 202 Main St, Kent, MN 56553 County: Wilkin 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 Combined Statistical Area (CSA): Fargo-Wahpeton, ND-MN (#244) Core Based Statistical Area (CBSA): Wahpeton, ND-MN (#47420) CBSA Micro Statistical Area: Yes
History of Changes
Change in Location
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $7.1 mil Equity capital: $0.8 mil Deposits held in domestic offices: $6.3 mil Return on assets (ROA): 0.10% ($0.0 mil) Quarterly return on assets: 0.38% ($0.0 mil) Return on Equity (ROE): 0.88% ($0.0 mil) Quarterly return on equity: 3.52% ($0.0 mil) Net income: $0.0 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.10% ($7.1 mil) Quarterly Pretax return on assets: 0.38% ($27.1 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
3Total employees (full-time equivalent)
$7,120Total assets
$2,065Cash and due from depository institutions
$1,186Interest-bearing balances
$0Securities
$800Federal funds sold & reverse repurchase agreements
$3,584Net loans & leases
$32Loan loss allowance
$0Trading account assets
$32Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$7,120Life insurance assets
$639All other assets
$6,320Total liabilities and capital
$6,319Total liabilities
$4,270Total deposits
$6,319Interest-bearing deposits
$100Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$1Subordinated debt
$800All other liabilities
$800Total equity capital
$800Total bank equity capital
$0Perpetual preferred stock
$100Common stock
$550Surplus
$150Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$82Long-term assets (5+ years)
$5,570Average Assets, year-to-date
$166Average Assets, quarterly
$7,140Volatile liabilities
$7,277Insider loans
$3,900FHLB advances
$7,003Loans and leases held for sale
$528Unused loan commitments
$528Tier 1 (core) risk-based capital
$800Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$988Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$244Total interest income
$16Total interest expense
$228Net interest income
$0Provision for loan and lease losses
$62Total noninterest income
$0Fiduciary activities
$34Service charges on deposit accounts
$0Trading account gains & fees
$28Additional noninterest income
$283Total noninterest expense
$184Salaries and employee benefits
$34Premises and equipment expense
$65Additional noninterest expense
$7Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$7Income before extraordinary items
$0Extraordinary gains - net
$7Net income attributable to bank
$0Net charge-offs
$7Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.31%Yield on earning assets
0.28%Cost of funding earning assets
4.03%Net interest margin
1.10%Noninterest income to earning assets
5.00%Noninterest expense to earning assets
0.10%Net operating income to assets
0.10%Return on assets (ROA)
0.10%Pretax return on assets
0.88%Return on equity (ROE)
0.88%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
97,586Assets per employee
2.37%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.88%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
56.72%Net loans and leases to core deposits
56.72%Equity capital to assets
11.24%Core capital (leverage) ratio
11.42%Tier 1 risk-based capital ratio
20.51%Total risk-based capital ratio
Memoranda
$21Average assets
$7,140Average earning assets
$791Average equity
$5,658Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
6224
Kent State Bank
202 Main St, Kent, MN 56553
July 14, 1902
Full Service Brick and Mortar
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