Norwest Bank Cloquet, National Association - Overview
General
FDIC Certificate #: 18990 Status: Inactive Closing history: Consolidated - Without Assistance Acquiring institution:Norwest Bank Minnesota North, National Association (#5125) Federal Reserve ID: 114653 Date Established: January 02, 1964 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 2 (Interstate: No) FDIC's unique #: 12833 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: January 02, 1964 Last Structure Change Effective Date: September 12, 1998 Last Structure Change Process Date: September 23, 1998 Last Data Update: September 23, 1998 Data Source Date: April 05, 2012
Location
Address: 1204 Cloquet Avenue, Cloquet, MN 55720 County: Carlton 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): Duluth, MN-WI (#20260) CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
Financial Summary
Total assets: $66.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
36Total employees (full-time equivalent)
$64,971Total assets
$3,576Cash and due from depository institutions
$0Interest-bearing balances
$12,497Securities
$8,885Federal funds sold & reverse repurchase agreements
$34,295Net loans & leases
$1,043Loan loss allowance
$0Trading account assets
$492Bank premises and fixed assets
$129Other real estate owned
$4,309Goodwill and other intangibles
$0Life insurance assets
$788All other assets
$64,971Total liabilities and capital
$52,342Total liabilities
$51,980Total deposits
$43,364Interest-bearing deposits
$51,980Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$362All other liabilities
$12,629Total equity capital
$12,629Total bank equity capital
$12,629Perpetual preferred stock
$0Common stock
$370Surplus
$11,930Undivided profits
Memoranda
$329Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$908Earning assets
$0Long-term assets (5+ years)
$249Average Assets, year-to-date
$55,677Average Assets, quarterly
$6,454Volatile liabilities
$66,340Insider loans
$66,047FHLB advances
$1,217Loans and leases held for sale
$30Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,445Total unused commitments
$0Restructured Loans and leases
$30,625Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$4,588Total interest income
$1,890Total interest expense
$2,698Net interest income
$540Provision for loan and lease losses
$428Total noninterest income
$0Fiduciary activities
$216Service charges on deposit accounts
$0Trading account gains & fees
$212Additional noninterest income
$2,278Total noninterest expense
$1,116Salaries and employee benefits
$350Premises and equipment expense
$812Additional noninterest expense
$308Pre-tax net operating income
$0Securities gains (losses)
$63Applicable income taxes
$245Income before extraordinary items
$0Extraordinary gains - net
$245Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$44Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.87%Yield on earning assets
3.24%Cost of funding earning assets
4.63%Net interest margin
0.73%Noninterest income to earning assets
3.91%Noninterest expense to earning assets
0.37%Net operating income to assets
0.37%Return on assets (ROA)
0.46%Pretax return on assets
2.10%Return on equity (ROE)
2.10%Retained earnings to average equity (YTD only)
0.11%Net charge-offs to loans
1227.27%Credit loss provision to net charge-offs
19.27%Efficiency ratio
68,106Assets per employee
1.80%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.95%Loss allowance to noncurrent loans
114.87%Noncurrent assets plus other real estate owned to assets
1.60%Noncurrent loans to loans
2.57%Net loans and leases to deposits
65.98%Net loans and leases to core deposits
67.56%Equity capital to assets
19.44%Core capital (leverage) ratio
13.54%Tier 1 risk-based capital ratio
26.89%Total risk-based capital ratio
Memoranda
$28Average assets
$66,340Average earning assets
$11,665Average equity
$58,274Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Norwest Bank Cloquet, National Association.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: