FDIC Certificate #: 5098 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:American Bank of the North (#10954) Federal Reserve ID: 336352 Date Established: January 01, 1905 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) FDIC's unique #: 3407 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: January 02, 2002 Last Structure Change Process Date: January 30, 2002 Last Data Update: January 30, 2002 Data Source Date: April 05, 2012
Location
Address: Main Street, Bovey, MN 55709 County: Itasca Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Grand Forks Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West
Financial Summary
Total assets: $13.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
7Total employees (full-time equivalent)
$13,648Total assets
$3,591Cash and due from depository institutions
$593Interest-bearing balances
$2,044Securities
$1,700Federal funds sold & reverse repurchase agreements
$6,031Net loans & leases
$97Loan loss allowance
$0Trading account assets
$74Bank premises and fixed assets
$122Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$86All other assets
$13,648Total liabilities and capital
$12,619Total liabilities
$12,578Total deposits
$10,183Interest-bearing deposits
$12,578Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$41All other liabilities
$1,029Total equity capital
$1,029Total bank equity capital
$1,029Perpetual preferred stock
$0Common stock
$60Surplus
$145Undivided profits
Memoranda
$824Noncurrent loans and leases
$125Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$15Earning assets
$0Long-term assets (5+ years)
$65Average Assets, year-to-date
$10,368Average Assets, quarterly
$2,720Volatile liabilities
$12,606Insider loans
$13,209FHLB advances
$355Loans and leases held for sale
$15Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$125Total unused commitments
$120Restructured Loans and leases
$76Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$841Total interest income
$366Total interest expense
$475Net interest income
$0Provision for loan and lease losses
$88Total noninterest income
$0Fiduciary activities
$82Service charges on deposit accounts
$0Trading account gains & fees
$6Additional noninterest income
$543Total noninterest expense
$267Salaries and employee benefits
$46Premises and equipment expense
$230Additional noninterest expense
$20Pre-tax net operating income
$0Securities gains (losses)
$3Applicable income taxes
$17Income before extraordinary items
$0Extraordinary gains - net
$17Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$1Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.57%Yield on earning assets
3.29%Cost of funding earning assets
4.27%Net interest margin
0.79%Noninterest income to earning assets
4.89%Noninterest expense to earning assets
0.13%Net operating income to assets
0.13%Return on assets (ROA)
0.16%Pretax return on assets
1.64%Return on equity (ROE)
1.64%Retained earnings to average equity (YTD only)
-0.01%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
96,448Assets per employee
1.95%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.58%Loss allowance to noncurrent loans
646.67%Noncurrent assets plus other real estate owned to assets
1.00%Noncurrent loans to loans
0.24%Net loans and leases to deposits
47.95%Net loans and leases to core deposits
49.34%Equity capital to assets
7.54%Core capital (leverage) ratio
7.56%Tier 1 risk-based capital ratio
16.07%Total risk-based capital ratio
Memoranda
$17Average assets
$12,606Average earning assets
$1,035Average equity
$11,112Average loans
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