FDIC Certificate #: 8184 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Frandsen Bank & Trust (#1399) Federal Reserve ID: 395256 Bank Holding Company (Regulatory Top Holder): Frandsen Financial Corporation (RSSDID: 1128358, Location: Arden Hills, MN) Date Established: January 01, 1908 WWW:http://www.birdislandbank.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 #: 5210 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 17, 2012 Last Structure Change Process Date: March 26, 2012 Last Data Update: March 26, 2012 Data Source Date: April 05, 2012
Location
Address: 205 South Main Street, Bird Island, MN 55310 County: Renville Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West
Financial Summary
Total assets: $44.8 mil Equity capital: $3.9 mil Deposits held in domestic offices: $38.8 mil Return on assets (ROA): 0.70% ($0.3 mil) Quarterly return on assets: 0.50% ($0.2 mil) Return on Equity (ROE): 7.16% ($0.3 mil) Quarterly return on equity: 5.34% ($0.2 mil) Net income: $0.3 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.82% ($367.4 mil) Quarterly Pretax return on assets: 0.50% ($224.0 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
9Total employees (full-time equivalent)
$44,806Total assets
$6,218Cash and due from depository institutions
$2,300Interest-bearing balances
$21,126Securities
$612Federal funds sold & reverse repurchase agreements
$14,790Net loans & leases
$61Loan loss allowance
$0Trading account assets
$978Bank premises and fixed assets
$0Other real estate owned
$738Goodwill and other intangibles
$44,806Life insurance assets
$344All other assets
$40,879Total liabilities and capital
$38,803Total liabilities
$23,623Total deposits
$38,803Interest-bearing deposits
$93Deposits held in domestic offices
1000.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$1,000Trading liabilities
$0Other borrowed funds
$76Subordinated debt
$3,927All other liabilities
$3,927Total equity capital
$3,927Total bank equity capital
$0Perpetual preferred stock
$180Common stock
$3,346Surplus
$401Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$22Income earned, not collected on loans
$0Earning assets
$243Long-term assets (5+ years)
$38,828Average Assets, year-to-date
$16,884Average Assets, quarterly
$40,511Volatile liabilities
$41,993Insider loans
$21,723FHLB advances
$39,023Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$3,139Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$9,494Restructured Loans and leases
$24Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$1,303Total interest income
$64Total interest expense
$1,239Net interest income
$60Provision for loan and lease losses
$115Total noninterest income
$0Fiduciary activities
$73Service charges on deposit accounts
$0Trading account gains & fees
$42Additional noninterest income
$999Total noninterest expense
$531Salaries and employee benefits
$99Premises and equipment expense
$369Additional noninterest expense
$295Pre-tax net operating income
$37Securities gains (losses)
$47Applicable income taxes
$285Income before extraordinary items
$0Extraordinary gains - net
$285Net income attributable to bank
$0Net charge-offs
$285Cash dividends
$3Sale, conversion, retirement of capital stock, net
$713Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.57%Yield on earning assets
0.18%Cost of funding earning assets
3.40%Net interest margin
0.32%Noninterest income to earning assets
2.74%Noninterest expense to earning assets
0.62%Net operating income to assets
0.70%Return on assets (ROA)
0.82%Pretax return on assets
7.16%Return on equity (ROE)
-10.76%Retained earnings to average equity (YTD only)
0.02%Net charge-offs to loans
2000.00%Credit loss provision to net charge-offs
118.33%Efficiency ratio
70,089Assets per employee
4.98%Cash dividends to net income (YTD only)
Condition Ratios (%)
250.18%Loss allowance to loans
0.41%Loss allowance to noncurrent loans
277.27%Noncurrent assets plus other real estate owned to assets
0.05%Noncurrent loans to loans
0.15%Net loans and leases to deposits
38.12%Net loans and leases to core deposits
38.12%Equity capital to assets
8.76%Core capital (leverage) ratio
8.04%Tier 1 risk-based capital ratio
14.45%Total risk-based capital ratio
Memoranda
$15Average assets
$40,511Average earning assets
$3,979Average equity
$36,485Average loans
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