FDIC Certificate #: 16133 Status: Inactive Closing history: Corrections Acquiring institution:United Valley Bank (#15478) Federal Reserve ID: 978051 Date Established: October 04, 1943 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 3 (Interstate: No) OTS Docket #: 14135 FDIC's unique #: 10348 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: April 12, 1944 Last Structure Change Effective Date: January 29, 2010 Last Structure Change Process Date: Febuary 01, 2010 Last Data Update: Febuary 01, 2010 Data Source Date: April 05, 2012
Location
Address: 203 South 2nd Street, Hallock, MN 56728 County: Kittson Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Grand Forks Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $58.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
13Total employees (full-time equivalent)
$58,566Total assets
$6,817Cash and due from depository institutions
$3,350Interest-bearing balances
$8,098Securities
$4,300Federal funds sold & reverse repurchase agreements
$35,912Net loans & leases
$2,007Loan loss allowance
$0Trading account assets
$279Bank premises and fixed assets
$50Other real estate owned
$1,935Goodwill and other intangibles
$0Life insurance assets
$1,175All other assets
$58,566Total liabilities and capital
$56,297Total liabilities
$55,662Total deposits
$44,338Interest-bearing deposits
$55,662Deposits held in domestic offices
94.89%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$635All other liabilities
$2,269Total equity capital
$2,269Total bank equity capital
$2,269Perpetual preferred stock
$0Common stock
$300Surplus
$9,097Undivided profits
Memoranda
$-7,128Noncurrent loans and leases
$5,791Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$5,163Earning assets
$0Long-term assets (5+ years)
$565Average Assets, year-to-date
$51,660Average Assets, quarterly
$16,056Volatile liabilities
$63,278Insider loans
$59,209FHLB advances
$4,236Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,791Total unused commitments
$0Restructured Loans and leases
$9Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$2,519Total interest income
$772Total interest expense
$1,747Net interest income
$4,607Provision for loan and lease losses
$417Total noninterest income
$0Fiduciary activities
$113Service charges on deposit accounts
$0Trading account gains & fees
$304Additional noninterest income
$3,298Total noninterest expense
$852Salaries and employee benefits
$141Premises and equipment expense
$2,305Additional noninterest expense
-$5,741Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$5,741Income before extraordinary items
$0Extraordinary gains - net
-$5,741Net income attributable to bank
$0Net charge-offs
-$5,741Cash dividends
$6,130Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.46%Yield on earning assets
1.37%Cost of funding earning assets
3.09%Net interest margin
0.74%Noninterest income to earning assets
5.84%Noninterest expense to earning assets
-9.07%Net operating income to assets
-9.07%Return on assets (ROA)
-9.07%Pretax return on assets
-110.01%Return on equity (ROE)
-110.01%Retained earnings to average equity (YTD only)
14.14%Net charge-offs to loans
75.15%Credit loss provision to net charge-offs
-0.18%Efficiency ratio
152,403Assets per employee
4.51%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.29%Loss allowance to noncurrent loans
38.87%Noncurrent assets plus other real estate owned to assets
8.90%Noncurrent loans to loans
13.62%Net loans and leases to deposits
64.52%Net loans and leases to core deposits
69.83%Equity capital to assets
3.87%Core capital (leverage) ratio
0.02%Tier 1 risk-based capital ratio
0.02%Total risk-based capital ratio
Memoranda
$0Average assets
$63,278Average earning assets
$5,219Average equity
$56,510Average loans
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