Security State Bank in Red Oak, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 06, 2004

Security State Bank in Red Oak, Iowa (IA)
Show street view No street view available for this location

Security State Bank - Overview

General
FDIC Certificate #: 16951
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Great Western Bank (#35516)
Federal Reserve ID: 321844
Date Established: November 15, 1950
WWW: http://www.securitystatebank.net
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 14527
FDIC's unique #: 11029
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: November 15, 1950
Last Structure Change Effective Date: November 06, 2004
Last Structure Change Process Date: November 17, 2004
Last Data Update: November 17, 2004
Data Source Date: April 05, 2012
Location
Address: 2100 Commerce, Red Oak, IA 51566
County: Montgomery
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Omaha
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $61.4 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, 2003)

Dollar figures in thousands
28Total employees (full-time equivalent)
$60,006Total assets
$1,746Cash and due from depository institutions
$65Interest-bearing balances
$10,725Securities
$0Federal funds sold & reverse repurchase agreements
$44,660Net loans & leases
$973Loan loss allowance
$0Trading account assets
$1,238Bank premises and fixed assets
$34Other real estate owned
$782Goodwill and other intangibles
$0Life insurance assets
$821All other assets
$60,006Total liabilities and capital
$54,955Total liabilities
$52,721Total deposits
$47,457Interest-bearing deposits
$52,721Deposits held in domestic offices
0.00%% insured (estimated)
$880Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,250Other borrowed funds
$0Subordinated debt
$104All other liabilities
$5,051Total equity capital
$5,051Total bank equity capital
$5,051Perpetual preferred stock
$0Common stock
$100Surplus
$3,896Undivided profits
Memoranda
$1,055Noncurrent loans and leases
$7,071Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$810Earning assets
$0Long-term assets (5+ years)
$656Average Assets, year-to-date
$55,450Average Assets, quarterly
$15,805Volatile liabilities
$60,037Insider loans
$59,369FHLB advances
$4,720Loans and leases held for sale
$175Unused loan commitments
$1,250Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,071Total unused commitments
$0Restructured Loans and leases
$558Derivatives

Income and Expense (December 31, 2003)

Dollar figures in thousands
$3,388Total interest income
$1,055Total interest expense
$2,333Net interest income
$415Provision for loan and lease losses
$349Total noninterest income
$0Fiduciary activities
$216Service charges on deposit accounts
$0Trading account gains & fees
$133Additional noninterest income
$1,704Total noninterest expense
$1,028Salaries and employee benefits
$186Premises and equipment expense
$490Additional noninterest expense
$563Pre-tax net operating income
$18Securities gains (losses)
$224Applicable income taxes
$357Income before extraordinary items
$0Extraordinary gains - net
$357Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$4Sale, conversion, retirement of capital stock, net
$300Net operating income

Performance and Condition Ratios (December 31, 2003)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.16%Yield on earning assets
1.92%Cost of funding earning assets
4.24%Net interest margin
0.63%Noninterest income to earning assets
3.10%Noninterest expense to earning assets
0.58%Net operating income to assets
0.59%Return on assets (ROA)
0.97%Pretax return on assets
7.14%Return on equity (ROE)
1.14%Retained earnings to average equity (YTD only)
-0.01%Net charge-offs to loans
-10375.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
63,535Assets per employee
2.14%Cash dividends to net income (YTD only)
Condition Ratios (%)
84.03%Loss allowance to loans
2.13%Loss allowance to noncurrent loans
120.12%Noncurrent assets plus other real estate owned to assets
1.41%Noncurrent loans to loans
1.78%Net loans and leases to deposits
84.71%Net loans and leases to core deposits
91.36%Equity capital to assets
8.42%Core capital (leverage) ratio
7.09%Tier 1 risk-based capital ratio
9.56%Total risk-based capital ratio
Memoranda
$11Average assets
$60,037Average earning assets
$4,999Average equity
$55,024Average 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 Security State Bank.
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.