Security State Bank of Aitkin in city_name, state_name - Detailed Financial Reports, Location

Security State Bank of Aitkin in Aitkin, Minnesota (MN)
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Security State Bank of Aitkin routing number info

Security State Bank of Aitkin - Overview

General
FDIC Certificate #: 16656
Status: Active
Federal Reserve ID: 267652
Bank Holding Company (Regulatory Top Holder): Security State Agency Of Aitkin, Inc. (RSSDID: 1125441, Location: Aitkin, MN)
Date Established: December 23, 1947
WWW: http://www.ssbmn.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 10704
FDIC's unique #: 10789
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 02, 1948
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
Location
Address: 402 Minnesota Avenue North, Aitkin, MN 56431
County: Aitkin
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
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $85.4 mil
Equity capital: $9.6 mil
Deposits held in domestic offices: $74.9 mil
Return on assets (ROA): 1.27% ($1.1 mil)
Quarterly return on assets: 1.12% ($1.0 mil)
Return on Equity (ROE): 11.94% ($1.2 mil)
Quarterly return on equity: 10.17% ($1.0 mil)
Net income: $1.1 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.27% ($1,085.0 mil)
Quarterly Pretax return on assets: 1.12% ($956.8 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, 2011)

Dollar figures in thousands
25Total employees (full-time equivalent)
$85,433Total assets
$4,859Cash and due from depository institutions
$4,256Interest-bearing balances
$12,515Securities
$0Federal funds sold & reverse repurchase agreements
$59,831Net loans & leases
$679Loan loss allowance
$0Trading account assets
$1,786Bank premises and fixed assets
$2,263Other real estate owned
$0Goodwill and other intangibles
$85,433Life insurance assets
$4,179All other assets
$75,862Total liabilities and capital
$74,881Total liabilities
$52,382Total deposits
$74,881Interest-bearing deposits
$96Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$981Subordinated debt
$9,571All other liabilities
$9,571Total equity capital
$9,571Total bank equity capital
$0Perpetual preferred stock
$270Common stock
$6,730Surplus
$2,571Undivided profits
Memoranda
$0Noncurrent loans and leases
$622Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$462Income earned, not collected on loans
$0Earning assets
$354Long-term assets (5+ years)
$76,602Average Assets, year-to-date
$6,311Average Assets, quarterly
$86,785Volatile liabilities
$86,602Insider loans
$69,004FHLB advances
$87,159Loans and leases held for sale
$2,827Unused loan commitments
$2,827Tier 1 (core) risk-based capital
$9,373Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$9,208Restructured Loans and leases
$1,905Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$4,331Total interest income
$401Total interest expense
$3,930Net interest income
$590Provision for loan and lease losses
$272Total noninterest income
$0Fiduciary activities
$114Service charges on deposit accounts
$0Trading account gains & fees
$158Additional noninterest income
$2,509Total noninterest expense
$1,414Salaries and employee benefits
$312Premises and equipment expense
$783Additional noninterest expense
$1,103Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$1,103Income before extraordinary items
$0Extraordinary gains - net
$1,103Net income attributable to bank
$0Net charge-offs
$1,103Cash dividends
$610Sale, conversion, retirement of capital stock, net
$650Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.57%Yield on earning assets
0.52%Cost of funding earning assets
5.06%Net interest margin
0.35%Noninterest income to earning assets
3.23%Noninterest expense to earning assets
1.27%Net operating income to assets
1.27%Return on assets (ROA)
1.27%Pretax return on assets
11.94%Return on equity (ROE)
4.90%Retained earnings to average equity (YTD only)
1.01%Net charge-offs to loans
96.72%Credit loss provision to net charge-offs
2.78%Efficiency ratio
59,710Assets per employee
3.42%Cash dividends to net income (YTD only)
Condition Ratios (%)
58.93%Loss allowance to loans
1.12%Loss allowance to noncurrent loans
146.97%Noncurrent assets plus other real estate owned to assets
3.19%Noncurrent loans to loans
0.76%Net loans and leases to deposits
79.90%Net loans and leases to core deposits
79.90%Equity capital to assets
11.20%Core capital (leverage) ratio
10.75%Tier 1 risk-based capital ratio
13.58%Total risk-based capital ratio
Memoranda
$15Average assets
$86,785Average earning assets
$9,237Average equity
$77,730Average loans

List of branches

4 Minnesota Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	10789	Security State Bank Of Aitkin	402 Minnesota Avenue North, Aitkin, MN 56431	December 23, 1947	Full Service Brick and Mortar
1	238534	Detached Facility	27310 Central Street, Garrison, MN 56450	September 01, 1978	Full Service Brick and Mortar
2	55110	Detached Facility	6 Wisconsin Street, Grand Marais, MN 55604	October 03, 1994	Full Service Brick and Mortar
3	461764	Paulbecks County Market Branch	Red Oak Drive, Aitkin, MN 56431	March 01, 2007	Full Service Retail

Security State Bank of Aitkin in Aitkin, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Security State Bank of Aitkin - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Security State Bank of Aitkin in Aitkin, Minnesota (MN)Overview, Financial Summary, Detailed Financial Reports, Branches

Security State Bank of Aitkin - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Security State Bank of Aitkin in Aitkin, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches