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

This bank is inactive as of July 18, 1997

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

General
FDIC Certificate #: 959
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Magna Bank, National Association (#4518)
Federal Reserve ID: 888842
Date Established: April 01, 1874
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
OTS Docket #: 13690
FDIC's unique #: 627
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
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: 102 West First Street, Monticello, IA 52310
County: Jones
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
Core Based Statistical Area (CBSA): Cedar Rapids, IA (#16300)
CBSA Metro Statistical Area: Cedar Rapids, IA (#16300)
Financial Summary
Total assets: $151.6 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
$144,860Cash and due from depository institutions
$5,944Interest-bearing balances
$0Securities
$35,151Federal funds sold & reverse repurchase agreements
$34,400Net loans & leases
$62,453Loan loss allowance
$1,419Trading account assets
$0Bank premises and fixed assets
$1,783Other real estate owned
$54Goodwill and other intangibles
$1,640Life insurance assets
$3,435All other assets
$0Total liabilities and capital
$144,860Total liabilities
$125,938Total deposits
$125,005Interest-bearing deposits
$114,272Deposits held in domestic offices
125005.00%% insured (estimated)
$89Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$933Total equity capital
$933Total bank equity capital
$18,922Perpetual preferred stock
$0Common stock
$800Surplus
$9,200Undivided profits
Memoranda
$8,922Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$207Income earned, not collected on loans
$961Earning assets
$132,004Long-term assets (5+ years)
$22,149Average Assets, year-to-date
$139,620Average Assets, quarterly
$140,292Volatile liabilities
$8,739Insider loans
$726FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$16,069Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$15,530Total risk weighted assets
$72,863Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$9,817Total interest expense
$4,376Net interest income
$5,441Provision for loan and lease losses
-$200Total noninterest income
$441Fiduciary activities
$0Service charges on deposit accounts
$265Trading account gains & fees
$0Additional noninterest income
$176Total noninterest expense
$2,545Salaries and employee benefits
$1,155Premises and equipment expense
$192Additional noninterest expense
$1,198Pre-tax net operating income
$3,537Securities gains (losses)
$0Applicable income taxes
$1,402Income before extraordinary items
$2,135Extraordinary gains - net
$0Net income attributable to bank
$2,135Net charge-offs
$234Cash dividends
$1,500Sale, 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
7.65%Cost of funding earning assets
3.41%Net interest margin
4.24%Noninterest income to earning assets
0.34%Noninterest expense to earning assets
1.98%Net operating income to assets
1.53%Return on assets (ROA)
1.53%Pretax return on assets
2.53%Return on equity (ROE)
11.51%Retained earnings to average equity (YTD only)
3.42%Net charge-offs to loans
0.34%Credit loss provision to net charge-offs
-85.47%Efficiency ratio
34,733Assets per employee
4.67%Cash dividends to net income (YTD only)
Condition Ratios (%)
70.26%Loss allowance to loans
2.22%Loss allowance to noncurrent loans
685.51%Noncurrent assets plus other real estate owned to assets
0.18%Noncurrent loans to loans
0.32%Net loans and leases to deposits
49.96%Net loans and leases to core deposits
53.72%Equity capital to assets
13.06%Core capital (leverage) ratio
11.47%Tier 1 risk-based capital ratio
21.31%Total risk-based capital ratio
Memoranda
$23Average assets
$139,620Average earning assets
$18,548Average equity
$128,317Average loans

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