FDIC Certificate #: 18969 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:BlackRidgeBANK (#58580) Federal Reserve ID: 104056 Date Established: December 06, 1963 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 5 (Interstate: No) FDIC's unique #: 12814 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: December 06, 1963 Last Structure Change Effective Date: October 01, 2011 Last Structure Change Process Date: November 29, 2011 Last Data Update: November 29, 2011 Data Source Date: April 05, 2012
Location
Address: 14084 Baxter Drive, Ste 16, Baxter, MN 56425 County: Crow Wing Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Brainerd, MN (#14660) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $140.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
30Total employees (full-time equivalent)
$141,893Total assets
$1,988Cash and due from depository institutions
$145Interest-bearing balances
$10,345Securities
$10,086Federal funds sold & reverse repurchase agreements
$103,742Net loans & leases
$1,671Loan loss allowance
$0Trading account assets
$3,008Bank premises and fixed assets
$2,016Other real estate owned
$8,400Goodwill and other intangibles
$0Life insurance assets
$2,308All other assets
$141,893Total liabilities and capital
$121,880Total liabilities
$120,711Total deposits
$101,072Interest-bearing deposits
$120,711Deposits held in domestic offices
92.40%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$834Other borrowed funds
$0Subordinated debt
$335All other liabilities
$20,013Total equity capital
$20,013Total bank equity capital
$20,013Perpetual preferred stock
$0Common stock
$273Surplus
$18,325Undivided profits
Memoranda
$1,415Noncurrent loans and leases
$9,855Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$4,504Earning assets
$0Long-term assets (5+ years)
$443Average Assets, year-to-date
$124,318Average Assets, quarterly
$7,444Volatile liabilities
$143,392Insider loans
$144,648FHLB advances
$21,297Loans and leases held for sale
$49Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$1,596Total risk weighted assets
$9,855Total unused commitments
$0Restructured Loans and leases
$1,281Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$7,338Total interest income
$2,022Total interest expense
$5,316Net interest income
$395Provision for loan and lease losses
$769Total noninterest income
$0Fiduciary activities
$350Service charges on deposit accounts
$0Trading account gains & fees
$419Additional noninterest income
$4,137Total noninterest expense
$1,829Salaries and employee benefits
$545Premises and equipment expense
$1,763Additional noninterest expense
$1,553Pre-tax net operating income
$0Securities gains (losses)
$659Applicable income taxes
$894Income before extraordinary items
$0Extraordinary gains - net
$894Net income attributable to bank
$0Net charge-offs
$894Cash dividends
$582Sale, conversion, retirement of capital stock, net
$700Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.87%Yield on earning assets
1.62%Cost of funding earning assets
4.25%Net interest margin
0.61%Noninterest income to earning assets
3.31%Noninterest expense to earning assets
0.62%Net operating income to assets
0.62%Return on assets (ROA)
1.08%Pretax return on assets
4.48%Return on equity (ROE)
0.97%Retained earnings to average equity (YTD only)
0.52%Net charge-offs to loans
67.87%Credit loss provision to net charge-offs
3.35%Efficiency ratio
66,689Assets per employee
4.73%Cash dividends to net income (YTD only)
Condition Ratios (%)
78.30%Loss allowance to loans
1.59%Loss allowance to noncurrent loans
37.10%Noncurrent assets plus other real estate owned to assets
4.60%Noncurrent loans to loans
4.27%Net loans and leases to deposits
85.94%Net loans and leases to core deposits
103.49%Equity capital to assets
14.10%Core capital (leverage) ratio
8.57%Tier 1 risk-based capital ratio
11.29%Total risk-based capital ratio
Memoranda
$13Average assets
$143,392Average earning assets
$19,938Average equity
$125,052Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Lakewood Bank, National Association.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: