MetaBank in Storm Lake, Iowa (IA), SD
Overview, Financial Summary, Detailed Financial Reports, Branches


  • MetaBank in Storm Lake, Iowa (IA), SD
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MetaBank - Overview

  • General
  • FDIC Certificate #: 30776
    Status: Active
    Federal Reserve ID: 435077
    Date Established: January 01, 1954
    WWW: http://www.metabank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 12 (Domestic: 12, Interstate: Yes)
    OTS Docket #: 5902
    FDIC's unique #: 43610
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: September 06, 1955
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 121 East Fifth St, Storm Lake, IA 50588
    County: Buena Vista
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Core Based Statistical Area (CBSA): Storm Lake, IA (#44740)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $1,358.3 mil
    Equity capital: $93.2 mil
    Deposits held in domestic offices: $1,225.7 mil
    Return on assets (ROA): 0.59% ($8.0 mil)
    Quarterly return on assets: 0.97% ($13.2 mil)
    Return on Equity (ROE): 8.35% ($7.8 mil)
    Quarterly return on equity: 14.07% ($13.1 mil)
    Net income: $7.1 mil
    Quarterly Net income: $3.2 mil
    Pretax return on assets: 0.94% ($12,767.9 mil)
    Quarterly Pretax return on assets: 1.52% ($20,645.9 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, 2011)

  • Dollar figures in thousands
  • 393Total employees (full-time equivalent)
  • $1,358,284Total assets
  • $155,144Cash and due from depository institutions
  • $151,710Interest-bearing balances
  • $812,806Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $317,848Net loans & leases
  • $4,565Loan loss allowance
  • $0Trading account assets
  • $17,077Bank premises and fixed assets
  • $3,938Other real estate owned
  • $1,567Goodwill and other intangibles
  • $1,358,284Life insurance assets
  • $49,904All other assets
  • $1,265,097Total liabilities and capital
  • $1,225,671Total liabilities
  • $151,087Total deposits
  • $1,225,671Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 7451.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $11,000Trading liabilities
  • $0Other borrowed funds
  • $20,975Subordinated debt
  • $93,187All other liabilities
  • $93,187Total equity capital
  • $93,187Total bank equity capital
  • $0Perpetual preferred stock
  • $20Common stock
  • $44,723Surplus
  • $48,444Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $10,464Income earned, not collected on loans
  • $0Earning assets
  • $4,395Long-term assets (5+ years)
  • $1,282,364Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $1,203,644Volatile liabilities
  • $1,316,690Insider loans
  • $475,384FHLB advances
  • $1,348,870Loans and leases held for sale
  • $14,667Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $83,773Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $45,474Restructured Loans and leases
  • $308Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $39,278Total interest income
  • $3,922Total interest expense
  • $35,356Net interest income
  • $1,005Provision for loan and lease losses
  • $54,501Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $54,501Additional noninterest income
  • $79,488Total noninterest expense
  • $31,977Salaries and employee benefits
  • $9,622Premises and equipment expense
  • $37,889Additional noninterest expense
  • $9,364Pre-tax net operating income
  • $1,942Securities gains (losses)
  • $4,183Applicable income taxes
  • $7,123Income before extraordinary items
  • $0Extraordinary gains - net
  • $7,123Net income attributable to bank
  • $0Net charge-offs
  • $7,123Cash dividends
  • $1,203Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.48%Yield on earning assets
  • 0.35%Cost of funding earning assets
  • 3.13%Net interest margin
  • 4.82%Noninterest income to earning assets
  • 7.03%Noninterest expense to earning assets
  • 0.49%Net operating income to assets
  • 0.59%Return on assets (ROA)
  • 0.94%Pretax return on assets
  • 8.35%Return on equity (ROE)
  • 8.35%Retained earnings to average equity (YTD only)
  • 0.37%Net charge-offs to loans
  • 83.54%Credit loss provision to net charge-offs
  • 8.62%Efficiency ratio
  • 88,171Assets per employee
  • 3.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.42%Loss allowance to noncurrent loans
  • 43.63%Noncurrent assets plus other real estate owned to assets
  • 1.06%Noncurrent loans to loans
  • 3.25%Net loans and leases to deposits
  • 25.93%Net loans and leases to core deposits
  • 26.03%Equity capital to assets
  • 6.86%Core capital (leverage) ratio
  • 6.21%Tier 1 risk-based capital ratio
  • 17.62%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $1,203,644Average earning assets
  • $85,336Average equity
  • $1,130,230Average loans

List of branches

  • 8 Iowa Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    043610Metabank121 East Fifth St, Storm Lake, IA 50588January 01, 1954Full Service Brick and Mortar
    102282038S L Plaza Shopping Cneter Branch1413 North Lake Avenue, Storm Lake, IA 50588January 01, 1954Full Service Brick and Mortar
    105404923624 Sixth Avenue Branch3624 Sixth Avenue, Des Moines, IA 50313January 01, 1921Full Service Brick and Mortar
    106282039Westtown Branch3448 Westtown Parkway, West Des Moines, IA 50266March 01, 1997Full Service Brick and Mortar
    108445907Ingersoll Avenue Branch3455 Ingersoll Avenue, Des Moines, IA 50312November 01, 2001Full Service Brick and Mortar
    10944590886th Street Branch4848 86th Street, Urbandale, IA 50322December 01, 2002Full Service Brick and Mortar
    112492437Sixth Avenue Branch418 Sixth Ave, Des Moines, IA 50309November 15, 2007Full Service Brick and Mortar
    113495481West Des Moines, S 68th Street Branch270 S 68th St, West Des Moines, IA 50266October 15, 2006Full Service Brick and Mortar
  • 4 South Dakota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    10342547Brookings Branch600 Main Avenue, Brookings, SD 57006January 01, 1913Full Service Brick and Mortar
    107445906Minnesota And 33rd BranchMinnesota At 33rd, Sioux Falls, SD 57101August 01, 2000Full Service Brick and Mortar
    110445909Elmwood Branch12th At Elmwood, Sioux Falls, SD 57104May 26, 2004Full Service Brick and Mortar
    111445910North Career Avenue Branch4900 S Western Ave, Sioux Falls, SD 57108July 22, 2004Full Service Brick and Mortar

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