FDIC Certificate #: 9344 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Minnwest Bank Central (#1398) Federal Reserve ID: 753351 Date Established: May 05, 1930 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 13915 FDIC's unique #: 5995 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 15, 2008 Last Structure Change Process Date: April 01, 2008 Last Data Update: April 01, 2008 Data Source Date: April 05, 2012
Location
Address: 21 Se 2nd Street, Ortonville, MN 56278 County: Big Stone Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West
Financial Summary
Total assets: $96.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
15Total employees (full-time equivalent)
$96,428Total assets
$2,919Cash and due from depository institutions
$53Interest-bearing balances
$8,996Securities
$5,300Federal funds sold & reverse repurchase agreements
$75,902Net loans & leases
$756Loan loss allowance
$0Trading account assets
$570Bank premises and fixed assets
$0Other real estate owned
$87Goodwill and other intangibles
$0Life insurance assets
$2,654All other assets
$96,428Total liabilities and capital
$87,209Total liabilities
$80,813Total deposits
$71,394Interest-bearing deposits
$80,813Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$4,905Other borrowed funds
$0Subordinated debt
$1,491All other liabilities
$9,219Total equity capital
$9,219Total bank equity capital
$9,219Perpetual preferred stock
$0Common stock
$500Surplus
$5,250Undivided profits
Memoranda
$3,469Noncurrent loans and leases
$20,933Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$244Earning assets
$0Long-term assets (5+ years)
$1,904Average Assets, year-to-date
$90,251Average Assets, quarterly
$6,900Volatile liabilities
$90,793Insider loans
$94,648FHLB advances
$8,044Loans and leases held for sale
$277Unused loan commitments
$4,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$20,933Total unused commitments
$0Restructured Loans and leases
$756Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$6,569Total interest income
$3,183Total interest expense
$3,386Net interest income
-$430Provision for loan and lease losses
$265Total noninterest income
$0Fiduciary activities
$207Service charges on deposit accounts
$0Trading account gains & fees
$58Additional noninterest income
$1,669Total noninterest expense
$904Salaries and employee benefits
$117Premises and equipment expense
$648Additional noninterest expense
$2,412Pre-tax net operating income
$0Securities gains (losses)
$915Applicable income taxes
$1,497Income before extraordinary items
$0Extraordinary gains - net
$1,497Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$14Sale, conversion, retirement of capital stock, net
$1,000Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.69%Yield on earning assets
3.73%Cost of funding earning assets
3.97%Net interest margin
0.31%Noninterest income to earning assets
1.95%Noninterest expense to earning assets
1.65%Net operating income to assets
1.65%Return on assets (ROA)
2.66%Pretax return on assets
17.48%Return on equity (ROE)
5.80%Retained earnings to average equity (YTD only)
0.02%Net charge-offs to loans
-3071.43%Credit loss provision to net charge-offs
141.57%Efficiency ratio
44,755Assets per employee
6.43%Cash dividends to net income (YTD only)
Condition Ratios (%)
66.80%Loss allowance to loans
0.99%Loss allowance to noncurrent loans
309.84%Noncurrent assets plus other real estate owned to assets
0.25%Noncurrent loans to loans
0.32%Net loans and leases to deposits
93.92%Net loans and leases to core deposits
104.31%Equity capital to assets
9.56%Core capital (leverage) ratio
9.69%Tier 1 risk-based capital ratio
11.62%Total risk-based capital ratio
Memoranda
$13Average assets
$90,793Average earning assets
$8,566Average equity
$85,381Average loans
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