Northern National Bank in Nisswa, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 19, 2009

Northern National Bank in Nisswa, Minnesota (MN)
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Northern National Bank - Overview

General
FDIC Certificate #: 34592
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Frandsen Bank & Trust (#1399)
Federal Reserve ID: 2582032
Date Established: October 10, 1997
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)
FDIC's unique #: 60756
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: October 10, 1997
Last Structure Change Effective Date: October 19, 2009
Last Structure Change Process Date: November 18, 2009
Last Data Update: November 18, 2009
Data Source Date: April 05, 2012
Location
Address: 24110 Smiley 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: $106.1 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, 2008)

Dollar figures in thousands
27Total employees (full-time equivalent)
$129,093Total assets
$4,852Cash and due from depository institutions
$0Interest-bearing balances
$20,538Securities
$0Federal funds sold & reverse repurchase agreements
$85,956Net loans & leases
$1,491Loan loss allowance
$0Trading account assets
$270Bank premises and fixed assets
$758Other real estate owned
$14,785Goodwill and other intangibles
$0Life insurance assets
$1,934All other assets
$129,093Total liabilities and capital
$104,208Total liabilities
$85,617Total deposits
$71,492Interest-bearing deposits
$85,617Deposits held in domestic offices
0.00%% insured (estimated)
$1,397Federal funds purchased & repurchase agreements
$0Trading liabilities
$16,737Other borrowed funds
$0Subordinated debt
$457All other liabilities
$24,885Total equity capital
$24,885Total bank equity capital
$24,885Perpetual preferred stock
$0Common stock
$100Surplus
$23,817Undivided profits
Memoranda
$968Noncurrent loans and leases
$17,569Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,786Earning assets
$0Long-term assets (5+ years)
$435Average Assets, year-to-date
$106,494Average Assets, quarterly
$16,480Volatile liabilities
$138,784Insider loans
$133,645FHLB advances
$28,193Loans and leases held for sale
$47Unused loan commitments
$9,185Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$17,569Total unused commitments
$112Restructured Loans and leases
$1,074Derivatives

Income and Expense (December 31, 2008)

Dollar figures in thousands
$4,341Total interest income
$1,157Total interest expense
$3,184Net interest income
$890Provision for loan and lease losses
$608Total noninterest income
$0Fiduciary activities
$130Service charges on deposit accounts
$0Trading account gains & fees
$478Additional noninterest income
$2,265Total noninterest expense
$1,081Salaries and employee benefits
$438Premises and equipment expense
$746Additional noninterest expense
$637Pre-tax net operating income
$1Securities gains (losses)
$2Applicable income taxes
$636Income before extraordinary items
$0Extraordinary gains - net
$636Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,044Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2008)

Dollar figures in thousands
Performance Ratios (%, annualized)
3.56%Yield on earning assets
0.95%Cost of funding earning assets
2.61%Net interest margin
0.50%Noninterest income to earning assets
1.86%Noninterest expense to earning assets
0.46%Net operating income to assets
0.46%Return on assets (ROA)
0.46%Pretax return on assets
3.48%Return on equity (ROE)
3.48%Retained earnings to average equity (YTD only)
1.03%Net charge-offs to loans
85.25%Credit loss provision to net charge-offs
1.46%Efficiency ratio
59,731Assets per employee
4.78%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.71%Loss allowance to noncurrent loans
53.52%Noncurrent assets plus other real estate owned to assets
2.75%Noncurrent loans to loans
3.19%Net loans and leases to deposits
100.40%Net loans and leases to core deposits
125.28%Equity capital to assets
19.28%Core capital (leverage) ratio
8.31%Tier 1 risk-based capital ratio
11.42%Total risk-based capital ratio
Memoranda
$13Average assets
$138,784Average earning assets
$18,285Average equity
$122,023Average loans

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