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

This bank is inactive as of April 24, 2006

Security State Bank in Sheldon, Iowa (IA)
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Security State Bank - Overview

General
FDIC Certificate #: 8102
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Northwestern Bank (#13411)
Federal Reserve ID: 535847
Date Established: January 06, 1928
WWW: http://www.ssbsheldoniowa.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 13761
FDIC's unique #: 5154
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: April 24, 2006
Last Structure Change Process Date: May 12, 2006
Last Data Update: May 12, 2006
Data Source Date: April 05, 2012
Location
Address: 934 Third Avenue, Sheldon, IA 51201
County: O'brien
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $57.3 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, 2005)

Dollar figures in thousands
16Total employees (full-time equivalent)
$60,919Total assets
$2,608Cash and due from depository institutions
$0Interest-bearing balances
$4,867Securities
$0Federal funds sold & reverse repurchase agreements
$47,472Net loans & leases
$865Loan loss allowance
$0Trading account assets
$1,548Bank premises and fixed assets
$7Other real estate owned
$1,419Goodwill and other intangibles
$0Life insurance assets
$2,998All other assets
$60,919Total liabilities and capital
$54,769Total liabilities
$41,469Total deposits
$33,738Interest-bearing deposits
$41,469Deposits held in domestic offices
0.00%% insured (estimated)
$6,475Federal funds purchased & repurchase agreements
$0Trading liabilities
$6,000Other borrowed funds
$0Subordinated debt
$825All other liabilities
$6,150Total equity capital
$6,150Total bank equity capital
$6,150Perpetual preferred stock
$0Common stock
$255Surplus
$9,672Undivided profits
Memoranda
$-3,777Noncurrent loans and leases
$7,258Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$99Earning assets
$0Long-term assets (5+ years)
$626Average Assets, year-to-date
$52,339Average Assets, quarterly
$8,870Volatile liabilities
$59,051Insider loans
$58,605FHLB advances
$9,911Loans and leases held for sale
$2,433Unused loan commitments
$6,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,258Total unused commitments
$0Restructured Loans and leases
$621Derivatives

Income and Expense (December 31, 2005)

Dollar figures in thousands
$2,963Total interest income
$1,118Total interest expense
$1,845Net interest income
$0Provision for loan and lease losses
$460Total noninterest income
$0Fiduciary activities
$153Service charges on deposit accounts
$0Trading account gains & fees
$307Additional noninterest income
$1,517Total noninterest expense
$651Salaries and employee benefits
$184Premises and equipment expense
$682Additional noninterest expense
$788Pre-tax net operating income
$0Securities gains (losses)
$248Applicable income taxes
$540Income before extraordinary items
$0Extraordinary gains - net
$540Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$73Sale, conversion, retirement of capital stock, net
$2,000Net operating income

Performance and Condition Ratios (December 31, 2005)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.83%Yield on earning assets
2.20%Cost of funding earning assets
3.63%Net interest margin
0.91%Noninterest income to earning assets
2.99%Noninterest expense to earning assets
0.91%Net operating income to assets
0.91%Return on assets (ROA)
1.33%Pretax return on assets
7.18%Return on equity (ROE)
-19.42%Retained earnings to average equity (YTD only)
0.16%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
10.79%Efficiency ratio
60,781Assets per employee
3.81%Cash dividends to net income (YTD only)
Condition Ratios (%)
370.37%Loss allowance to loans
1.79%Loss allowance to noncurrent loans
873.74%Noncurrent assets plus other real estate owned to assets
0.17%Noncurrent loans to loans
0.20%Net loans and leases to deposits
114.48%Net loans and leases to core deposits
124.82%Equity capital to assets
10.10%Core capital (leverage) ratio
8.35%Tier 1 risk-based capital ratio
9.70%Total risk-based capital ratio
Memoranda
$11Average assets
$59,051Average earning assets
$7,519Average equity
$50,786Average loans

Total Fiduciary and Related Assets (December 31, 2002)

Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
YesFiduciary powers granted
YesFiduciary or related activity
$1,187Managed Assets
1Number of Accounts
$1,187Personal trust and agency accounts
$287Employee benefit-defined contribution accounts
$0Employee benefit-defined benefit accounts
$0Other retirement accounts
$706Corporate trust and agency accounts
$0Investment management agency accounts
$194Other fiduciary accounts
$0Fiduciary accounts held in foreign offices
$0Non-managed Assets
6Number of Accounts
$0Personal trust and agency accounts
$0Employee benefit-defined contribution accounts
$0Employee benefit-defined benefit accounts
$0Other retirement accounts
$0Corporate trust and agency accounts
$0Other fiduciary accounts
$0Fiduciary accounts held in foreign offices

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