FDIC Certificate #: 15890 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Independent Bank (#1900) Federal Reserve ID: 92854 Date Established: May 05, 1936 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 10126 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: April 29, 1942 Last Structure Change Effective Date: December 31, 2011 Last Structure Change Process Date: January 11, 2012 Last Data Update: January 11, 2012 Data Source Date: April 05, 2012
Location
Address: 106 Main Street, Lucan, MN 56255 County: Redwood 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: $41.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
8Total employees (full-time equivalent)
$37,641Total assets
$4,061Cash and due from depository institutions
$2,717Interest-bearing balances
$10,305Securities
$0Federal funds sold & reverse repurchase agreements
$21,617Net loans & leases
$246Loan loss allowance
$0Trading account assets
$172Bank premises and fixed assets
$4Other real estate owned
$0Goodwill and other intangibles
$795Life insurance assets
$1,482All other assets
$37,641Total liabilities and capital
$33,543Total liabilities
$33,022Total deposits
$26,195Interest-bearing deposits
$33,022Deposits held in domestic offices
98.96%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$521All other liabilities
$4,098Total equity capital
$4,098Total bank equity capital
$4,098Perpetual preferred stock
$0Common stock
$25Surplus
$2,675Undivided profits
Memoranda
$1,398Noncurrent loans and leases
$764Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$52Earning assets
$15Long-term assets (5+ years)
$485Average Assets, year-to-date
$34,639Average Assets, quarterly
$8,212Volatile liabilities
$37,118Insider loans
$37,796FHLB advances
$4,583Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$764Total unused commitments
$77Restructured Loans and leases
$246Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$1,662Total interest income
$485Total interest expense
$1,177Net interest income
$0Provision for loan and lease losses
$123Total noninterest income
$0Fiduciary activities
$94Service charges on deposit accounts
$0Trading account gains & fees
$29Additional noninterest income
$999Total noninterest expense
$618Salaries and employee benefits
$69Premises and equipment expense
$312Additional noninterest expense
$301Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$301Income before extraordinary items
$0Extraordinary gains - net
$301Net income attributable to bank
$0Net charge-offs
$301Cash dividends
$33Sale, conversion, retirement of capital stock, net
$191Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.98%Yield on earning assets
1.45%Cost of funding earning assets
3.53%Net interest margin
0.37%Noninterest income to earning assets
3.00%Noninterest expense to earning assets
0.81%Net operating income to assets
0.81%Return on assets (ROA)
0.81%Pretax return on assets
7.32%Return on equity (ROE)
2.67%Retained earnings to average equity (YTD only)
0.16%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
9.12%Efficiency ratio
76,846Assets per employee
4.71%Cash dividends to net income (YTD only)
Condition Ratios (%)
63.46%Loss allowance to loans
1.13%Loss allowance to noncurrent loans
473.08%Noncurrent assets plus other real estate owned to assets
0.15%Noncurrent loans to loans
0.24%Net loans and leases to deposits
65.46%Net loans and leases to core deposits
76.01%Equity capital to assets
10.89%Core capital (leverage) ratio
10.47%Tier 1 risk-based capital ratio
15.78%Total risk-based capital ratio
Memoranda
$17Average assets
$37,118Average earning assets
$4,113Average equity
$33,350Average loans
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