Magna Bank in Oelwein, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 18, 1997

Magna Bank in Oelwein, Iowa (IA)
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Magna Bank - Overview

General
FDIC Certificate #: 16364
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Magna Bank, National Association (#4518)
Federal Reserve ID: 262246
Date Established: January 26, 1946
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 13662
FDIC's unique #: 10546
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: January 26, 1946
Last Structure Change Effective Date: July 18, 1997
Last Structure Change Process Date: August 06, 1997
Last Data Update: August 06, 1997
Data Source Date: April 05, 2012
Location
Address: 25 North Frederick Street, Oelwein, IA 50662
County: Fayette
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: $99.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$31Total assets
$90,941Cash and due from depository institutions
$2,024Interest-bearing balances
$0Securities
$8,194Federal funds sold & reverse repurchase agreements
$9,550Net loans & leases
$68,889Loan loss allowance
$1,083Trading account assets
$0Bank premises and fixed assets
$625Other real estate owned
$0Goodwill and other intangibles
$1,659Life insurance assets
$0All other assets
$0Total liabilities and capital
$90,941Total liabilities
$82,645Total deposits
$81,788Interest-bearing deposits
$73,181Deposits held in domestic offices
81788.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$857Total equity capital
$857Total bank equity capital
$8,296Perpetual preferred stock
$0Common stock
$200Surplus
$3,800Undivided profits
Memoranda
$4,296Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$102Income earned, not collected on loans
$1,119Earning assets
$86,633Long-term assets (5+ years)
$6,161Average Assets, year-to-date
$89,394Average Assets, quarterly
$89,896Volatile liabilities
$4,930Insider loans
$41FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$6,589Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$8,295Total risk weighted assets
$68,349Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$7,127Total interest expense
$3,173Net interest income
$3,954Provision for loan and lease losses
$250Total noninterest income
$449Fiduciary activities
$0Service charges on deposit accounts
$357Trading account gains & fees
$0Additional noninterest income
$92Total noninterest expense
$2,048Salaries and employee benefits
$1,174Premises and equipment expense
$147Additional noninterest expense
$727Pre-tax net operating income
$2,105Securities gains (losses)
$17Applicable income taxes
$741Income before extraordinary items
$1,381Extraordinary gains - net
$0Net income attributable to bank
$1,381Net charge-offs
$199Cash dividends
$1,200Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.45%Cost of funding earning assets
3.76%Net interest margin
4.69%Noninterest income to earning assets
0.53%Noninterest expense to earning assets
2.43%Net operating income to assets
1.53%Return on assets (ROA)
1.54%Pretax return on assets
2.37%Return on equity (ROE)
16.84%Retained earnings to average equity (YTD only)
2.21%Net charge-offs to loans
0.29%Credit loss provision to net charge-offs
125.63%Efficiency ratio
46,514Assets per employee
2.93%Cash dividends to net income (YTD only)
Condition Ratios (%)
86.89%Loss allowance to loans
1.55%Loss allowance to noncurrent loans
1061.76%Noncurrent assets plus other real estate owned to assets
0.11%Noncurrent loans to loans
0.15%Net loans and leases to deposits
84.23%Net loans and leases to core deposits
89.63%Equity capital to assets
9.12%Core capital (leverage) ratio
9.22%Tier 1 risk-based capital ratio
12.14%Total risk-based capital ratio
Memoranda
$13Average assets
$89,394Average earning assets
$8,198Average equity
$84,378Average loans

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