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

This bank is inactive as of April 30, 1994

Security State Bank of Hammond in Hammond, Minnesota (MN)
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Security State Bank of Hammond - Overview

General
FDIC Certificate #: 10981
Status: Inactive
Closing history: Corrections
Acquiring institution: Minnwest Bank Metro (#17898)
Federal Reserve ID: 978453
Date Established: January 01, 1924
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 7034
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: January 01, 1934
Last Structure Change Effective Date: April 30, 1994
Last Structure Change Process Date: May 23, 1994
Last Data Update: June 06, 1994
Data Source Date: April 05, 2012
Location
Address: Main Street, Hammond, MN 55938
County: Wabasha
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): Rochester, MN (#40340)
CBSA Metro Statistical Area: Rochester, MN (#40340)
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $12.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

Dollar figures in thousands
0Total employees (full-time equivalent)
$5Total assets
$12,829Cash and due from depository institutions
$921Interest-bearing balances
$0Securities
$7,746Federal funds sold & reverse repurchase agreements
$1,900Net loans & leases
$1,812Loan loss allowance
$134Trading account assets
$0Bank premises and fixed assets
$54Other real estate owned
$0Goodwill and other intangibles
$396Life insurance assets
$0All other assets
$0Total liabilities and capital
$12,829Total liabilities
$10,708Total deposits
$10,534Interest-bearing deposits
$10,012Deposits held in domestic offices
10534.00%% insured (estimated)
$99Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$174Total equity capital
$174Total bank equity capital
$2,121Perpetual preferred stock
$0Common stock
$30Surplus
$370Undivided profits
Memoranda
$1,721Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$81Income earned, not collected on loans
$23Earning assets
$11,458Long-term assets (5+ years)
$3,689Average Assets, year-to-date
$12,771Average Assets, quarterly
$12,654Volatile liabilities
$500Insider loans
$38FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,121Total risk weighted assets
$3,411Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$742Total interest expense
$490Net interest income
$252Provision for loan and lease losses
$0Total noninterest income
$52Fiduciary activities
$0Service charges on deposit accounts
$51Trading account gains & fees
$0Additional noninterest income
$1Total noninterest expense
$346Salaries and employee benefits
$155Premises and equipment expense
$16Additional noninterest expense
$175Pre-tax net operating income
-$42Securities gains (losses)
$100Applicable income taxes
$20Income before extraordinary items
$38Extraordinary gains - net
$0Net income attributable to bank
$38Net charge-offs
-$35Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
6.52%Cost of funding earning assets
4.30%Net interest margin
2.21%Noninterest income to earning assets
0.46%Noninterest expense to earning assets
3.04%Net operating income to assets
-0.22%Return on assets (ROA)
0.30%Pretax return on assets
0.45%Return on equity (ROE)
1.80%Retained earnings to average equity (YTD only)
1.80%Net charge-offs to loans
-1.63%Credit loss provision to net charge-offs
0.00%Efficiency ratio
113,816Assets per employee
2.57%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
6.89%Loss allowance to noncurrent loans
165.43%Noncurrent assets plus other real estate owned to assets
0.63%Noncurrent loans to loans
4.16%Net loans and leases to deposits
17.20%Net loans and leases to core deposits
18.06%Equity capital to assets
16.53%Core capital (leverage) ratio
16.49%Tier 1 risk-based capital ratio
62.18%Total risk-based capital ratio
Memoranda
$63Average assets
$12,771Average earning assets
$2,107Average equity
$11,385Average loans

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