FDIC Certificate #: 22691 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Lakewood Bank, National Association (#18969) Federal Reserve ID: 812959 Date Established: August 01, 1978 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 15842 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: August 01, 1978 Last Structure Change Effective Date: December 07, 1998 Last Structure Change Process Date: Febuary 03, 1999 Last Data Update: Febuary 03, 1999 Data Source Date: April 05, 2012
Location
Address: County Road 18 And Cullen Lake Road, Nisswa, MN 56468 County: Crow Wing 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 Core Based Statistical Area (CBSA): Brainerd, MN (#14660) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $28.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
14Total employees (full-time equivalent)
$26,180Total assets
$791Cash and due from depository institutions
$99Interest-bearing balances
$5,843Securities
$1,752Federal funds sold & reverse repurchase agreements
$16,454Net loans & leases
$177Loan loss allowance
$0Trading account assets
$1,005Bank premises and fixed assets
$100Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$235All other assets
$26,180Total liabilities and capital
$23,566Total liabilities
$23,236Total deposits
$18,546Interest-bearing deposits
$23,236Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$254Other borrowed funds
$0Subordinated debt
$76All other liabilities
$2,614Total equity capital
$2,614Total bank equity capital
$2,614Perpetual preferred stock
$0Common stock
$300Surplus
$1,300Undivided profits
Memoranda
$1,014Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$183Earning assets
$0Long-term assets (5+ years)
$101Average Assets, year-to-date
$24,148Average Assets, quarterly
$2,840Volatile liabilities
$25,288Insider loans
$26,120FHLB advances
$2,354Loans and leases held for sale
$423Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,396Total unused commitments
$0Restructured Loans and leases
$17,188Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$2,012Total interest income
$757Total interest expense
$1,255Net interest income
$66Provision for loan and lease losses
$214Total noninterest income
$0Fiduciary activities
$134Service charges on deposit accounts
$0Trading account gains & fees
$80Additional noninterest income
$939Total noninterest expense
$441Salaries and employee benefits
$199Premises and equipment expense
$299Additional noninterest expense
$464Pre-tax net operating income
$0Securities gains (losses)
$137Applicable income taxes
$327Income before extraordinary items
$0Extraordinary gains - net
$327Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$52Sale, conversion, retirement of capital stock, net
$483Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.79%Yield on earning assets
3.31%Cost of funding earning assets
5.48%Net interest margin
0.94%Noninterest income to earning assets
4.10%Noninterest expense to earning assets
1.29%Net operating income to assets
1.29%Return on assets (ROA)
1.83%Pretax return on assets
12.78%Return on equity (ROE)
-6.10%Retained earnings to average equity (YTD only)
0.32%Net charge-offs to loans
126.92%Credit loss provision to net charge-offs
10.19%Efficiency ratio
63,921Assets per employee
1.87%Cash dividends to net income (YTD only)
Condition Ratios (%)
147.71%Loss allowance to loans
1.06%Loss allowance to noncurrent loans
96.72%Noncurrent assets plus other real estate owned to assets
1.08%Noncurrent loans to loans
1.10%Net loans and leases to deposits
70.81%Net loans and leases to core deposits
78.80%Equity capital to assets
9.98%Core capital (leverage) ratio
9.80%Tier 1 risk-based capital ratio
15.01%Total risk-based capital ratio
Memoranda
$16Average assets
$25,288Average earning assets
$2,559Average equity
$22,886Average loans
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