Sturgeon Lake State Bank in Sturgeon Lake, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 01, 1995

Sturgeon Lake State Bank in Sturgeon Lake, Minnesota (MN)
Show street view No street view available for this location

Sturgeon Lake State Bank - Overview

General
FDIC Certificate #: 12194
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Woodlands National Bank (#1417)
Federal Reserve ID: 772156
Date Established: March 17, 1915
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 7745
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 01, 1995
Last Structure Change Process Date: May 24, 1995
Last Data Update: May 24, 1995
Data Source Date: April 05, 2012
Location
Address: Main Street, Sturgeon Lake, MN 55783
County: Pine
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
Financial Summary
Total assets: $11.5 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$5Total assets
$12,642Cash and due from depository institutions
$1,868Interest-bearing balances
$1,428Securities
$3,115Federal funds sold & reverse repurchase agreements
$1,800Net loans & leases
$5,629Loan loss allowance
$70Trading account assets
$0Bank premises and fixed assets
$35Other real estate owned
$36Goodwill and other intangibles
$159Life insurance assets
$0All other assets
$0Total liabilities and capital
$12,642Total liabilities
$11,848Total deposits
$10,631Interest-bearing deposits
$9,200Deposits held in domestic offices
10631.00%% insured (estimated)
$100Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$1,217Total equity capital
$1,217Total bank equity capital
$794Perpetual preferred stock
$0Common stock
$25Surplus
$475Undivided profits
Memoranda
$294Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$63Earning assets
$11,972Long-term assets (5+ years)
$1,935Average Assets, year-to-date
$12,541Average Assets, quarterly
$12,780Volatile liabilities
$100Insider loans
$94FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$794Total risk weighted assets
$6,033Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$886Total interest expense
$354Net interest income
$532Provision for loan and lease losses
$41Total noninterest income
$54Fiduciary activities
$0Service charges on deposit accounts
$40Trading account gains & fees
$0Additional noninterest income
$14Total noninterest expense
$521Salaries and employee benefits
$349Premises and equipment expense
$18Additional noninterest expense
$154Pre-tax net operating income
$24Securities gains (losses)
$0Applicable income taxes
-$5Income before extraordinary items
$29Extraordinary gains - net
$0Net income attributable to bank
$29Net charge-offs
$43Cash dividends
$1,174Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.49%Cost of funding earning assets
2.99%Net interest margin
4.50%Noninterest income to earning assets
0.46%Noninterest expense to earning assets
4.41%Net operating income to assets
0.23%Return on assets (ROA)
0.23%Pretax return on assets
0.19%Return on equity (ROE)
1.70%Retained earnings to average equity (YTD only)
-67.08%Net charge-offs to loans
0.79%Credit loss provision to net charge-offs
95.35%Efficiency ratio
88,908Assets per employee
2.53%Cash dividends to net income (YTD only)
Condition Ratios (%)
4048.28%Loss allowance to loans
1.23%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.28%Noncurrent loans to loans
0.00%Net loans and leases to deposits
52.95%Net loans and leases to core deposits
53.45%Equity capital to assets
6.28%Core capital (leverage) ratio
6.14%Tier 1 risk-based capital ratio
13.16%Total risk-based capital ratio
Memoranda
$14Average assets
$12,541Average earning assets
$1,707Average equity
$11,821Average loans

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

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Sturgeon Lake State Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.