FDIC Certificate #: 10175 Status: Active Federal Reserve ID: 950356 Bank Holding Company (Regulatory Top Holder): Security Financial Services, Inc. (RSSDID: 1128817, Location: Hibbing, MN) Date Established: Febuary 11, 1911 WWW:http://www.ssbhibbing.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 6516 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: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 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: 701 East Howard Street, Hibbing, MN 55746 County: St. Louis 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 Metropolitan Statistical Area (MSA): Duluth-Superior, MN-WI (#2240) Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260) CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $98.9 mil Equity capital: $9.5 mil Deposits held in domestic offices: $87.1 mil Return on assets (ROA): 0.61% ($0.6 mil) Quarterly return on assets: 0.82% ($0.8 mil) Return on Equity (ROE): 6.12% ($0.6 mil) Quarterly return on equity: 8.47% ($0.8 mil) Net income: $0.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.77% ($761.8 mil) Quarterly Pretax return on assets: 1.09% ($1,078.4 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
22Total employees (full-time equivalent)
$98,938Total assets
$16,034Cash and due from depository institutions
$11,298Interest-bearing balances
$24,156Securities
$0Federal funds sold & reverse repurchase agreements
$48,178Net loans & leases
$1,947Loan loss allowance
$0Trading account assets
$1,929Bank premises and fixed assets
$3,678Other real estate owned
$0Goodwill and other intangibles
$98,938Life insurance assets
$4,963All other assets
$89,399Total liabilities and capital
$87,059Total liabilities
$58,685Total deposits
$87,059Interest-bearing deposits
$93Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$2,340Subordinated debt
$9,539All other liabilities
$9,539Total equity capital
$9,539Total bank equity capital
$0Perpetual preferred stock
$750Common stock
$7,758Surplus
$1,031Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,149Income earned, not collected on loans
$0Earning assets
$347Long-term assets (5+ years)
$83,632Average Assets, year-to-date
$22,440Average Assets, quarterly
$95,421Volatile liabilities
$100,251Insider loans
$62,303FHLB advances
$98,935Loans and leases held for sale
$2,284Unused loan commitments
$2,284Tier 1 (core) risk-based capital
$9,622Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$15,772Restructured Loans and leases
$1,974Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$3,799Total interest income
$506Total interest expense
$3,293Net interest income
$254Provision for loan and lease losses
$990Total noninterest income
$0Fiduciary activities
$200Service charges on deposit accounts
$0Trading account gains & fees
$790Additional noninterest income
$3,305Total noninterest expense
$1,409Salaries and employee benefits
$346Premises and equipment expense
$1,550Additional noninterest expense
$724Pre-tax net operating income
$8Securities gains (losses)
$147Applicable income taxes
$585Income before extraordinary items
$0Extraordinary gains - net
$585Net income attributable to bank
$0Net charge-offs
$585Cash dividends
$14Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.71%Yield on earning assets
0.63%Cost of funding earning assets
4.08%Net interest margin
1.23%Noninterest income to earning assets
4.09%Noninterest expense to earning assets
0.61%Net operating income to assets
0.61%Return on assets (ROA)
0.77%Pretax return on assets
6.12%Return on equity (ROE)
6.12%Retained earnings to average equity (YTD only)
0.03%Net charge-offs to loans
1814.29%Credit loss provision to net charge-offs
69.86%Efficiency ratio
77,166Assets per employee
4.50%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.88%Loss allowance to noncurrent loans
90.60%Noncurrent assets plus other real estate owned to assets
5.89%Noncurrent loans to loans
4.29%Net loans and leases to deposits
55.34%Net loans and leases to core deposits
59.30%Equity capital to assets
9.64%Core capital (leverage) ratio
9.73%Tier 1 risk-based capital ratio
15.44%Total risk-based capital ratio
Memoranda
$17Average assets
$95,421Average earning assets
$9,563Average equity
$80,715Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
6516
Security State Bank Of Hibbing
701 East Howard Street, Hibbing, MN 55746
Febuary 11, 1911
Full Service Brick and Mortar
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