FDIC Certificate #: 8540 Status: Inactive Closing history: Corrections Acquiring institution:The First National Bank of Hudson (#5348) Federal Reserve ID: 722656 Date Established: January 01, 1903 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 12763 FDIC's unique #: 5448 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 01, 1999 Last Structure Change Process Date: July 20, 1999 Last Data Update: July 27, 1999 Data Source Date: April 05, 2012
Location
Address: 1020 Main Street, North Branch, MN 55056 County: Chisago 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 Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $53.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
26Total employees (full-time equivalent)
$54,177Total assets
$3,099Cash and due from depository institutions
$1,614Interest-bearing balances
$15,089Securities
$1,725Federal funds sold & reverse repurchase agreements
$31,851Net loans & leases
$506Loan loss allowance
$0Trading account assets
$2,001Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$412All other assets
$54,177Total liabilities and capital
$49,190Total liabilities
$45,687Total deposits
$38,007Interest-bearing deposits
$45,687Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,188Other borrowed funds
$0Subordinated debt
$315All other liabilities
$4,987Total equity capital
$4,987Total bank equity capital
$4,987Perpetual preferred stock
$0Common stock
$200Surplus
$2,824Undivided profits
Memoranda
$1,963Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$66Earning assets
$0Long-term assets (5+ years)
$182Average Assets, year-to-date
$50,279Average Assets, quarterly
$11,581Volatile liabilities
$51,403Insider loans
$53,403FHLB advances
$2,278Loans and leases held for sale
$10Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,783Total unused commitments
$0Restructured Loans and leases
$37,851Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$4,026Total interest income
$1,682Total interest expense
$2,344Net interest income
$60Provision for loan and lease losses
$863Total noninterest income
$0Fiduciary activities
$541Service charges on deposit accounts
$0Trading account gains & fees
$322Additional noninterest income
$1,984Total noninterest expense
$1,010Salaries and employee benefits
$275Premises and equipment expense
$699Additional noninterest expense
$1,163Pre-tax net operating income
$0Securities gains (losses)
$155Applicable income taxes
$1,008Income before extraordinary items
$0Extraordinary gains - net
$1,008Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$41Sale, conversion, retirement of capital stock, net
$388Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.48%Yield on earning assets
3.54%Cost of funding earning assets
4.94%Net interest margin
1.82%Noninterest income to earning assets
4.18%Noninterest expense to earning assets
1.96%Net operating income to assets
1.96%Return on assets (ROA)
2.26%Pretax return on assets
21.44%Return on equity (ROE)
13.19%Retained earnings to average equity (YTD only)
0.13%Net charge-offs to loans
146.34%Credit loss provision to net charge-offs
29.83%Efficiency ratio
61,865Assets per employee
2.08%Cash dividends to net income (YTD only)
Condition Ratios (%)
38.49%Loss allowance to loans
1.56%Loss allowance to noncurrent loans
766.67%Noncurrent assets plus other real estate owned to assets
0.12%Noncurrent loans to loans
0.20%Net loans and leases to deposits
69.72%Net loans and leases to core deposits
73.37%Equity capital to assets
9.21%Core capital (leverage) ratio
9.31%Tier 1 risk-based capital ratio
12.98%Total risk-based capital ratio
Memoranda
$14Average assets
$51,403Average earning assets
$4,701Average equity
$47,496Average loans
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