The First State Bank of Graceville in Graceville, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 22, 1995

The First State Bank of Graceville in Graceville, Minnesota (MN)
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The First State Bank of Graceville - Overview

General
FDIC Certificate #: 15623
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: West Central Bank (#10211)
Federal Reserve ID: 50359
Date Established: January 01, 1904
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 9904
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: October 31, 1938
Last Structure Change Effective Date: September 22, 1995
Last Structure Change Process Date: October 04, 1995
Last Data Update: October 04, 1995
Data Source Date: April 05, 2012
Location
Address: 228 Studdart Avenue, Graceville, MN 56240
County: Big Stone
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial Summary
Total assets: $11.7 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
$11,500Cash and due from depository institutions
$1,234Interest-bearing balances
$0Securities
$2,257Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$7,099Loan loss allowance
$114Trading account assets
$0Bank premises and fixed assets
$155Other real estate owned
$15Goodwill and other intangibles
$740Life insurance assets
$0All other assets
$0Total liabilities and capital
$11,500Total liabilities
$10,686Total deposits
$10,234Interest-bearing deposits
$9,056Deposits held in domestic offices
10234.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$348Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$104Total equity capital
$104Total bank equity capital
$814Perpetual preferred stock
$0Common stock
$100Surplus
$550Undivided profits
Memoranda
$164Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$50Income earned, not collected on loans
$200Earning assets
$9,356Long-term assets (5+ years)
$1,037Average Assets, year-to-date
$11,488Average Assets, quarterly
$11,505Volatile liabilities
$810Insider loans
$0FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$1,017Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$847Total risk weighted assets
$8,158Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$772Total interest expense
$339Net interest income
$433Provision for loan and lease losses
$148Total noninterest income
$84Fiduciary activities
$0Service charges on deposit accounts
$46Trading account gains & fees
$0Additional noninterest income
$38Total noninterest expense
$310Salaries and employee benefits
$121Premises and equipment expense
$33Additional noninterest expense
$156Pre-tax net operating income
$59Securities gains (losses)
$1Applicable income taxes
$35Income before extraordinary items
$25Extraordinary gains - net
$0Net income attributable to bank
$25Net charge-offs
$119Cash dividends
$129Sale, 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
7.74%Cost of funding earning assets
3.40%Net interest margin
4.34%Noninterest income to earning assets
0.84%Noninterest expense to earning assets
3.11%Net operating income to assets
0.21%Return on assets (ROA)
0.22%Pretax return on assets
0.52%Return on equity (ROE)
2.94%Retained earnings to average equity (YTD only)
-12.24%Net charge-offs to loans
1.61%Credit loss provision to net charge-offs
124.37%Efficiency ratio
59,961Assets per employee
2.30%Cash dividends to net income (YTD only)
Condition Ratios (%)
516.00%Loss allowance to loans
1.58%Loss allowance to noncurrent loans
228.00%Noncurrent assets plus other real estate owned to assets
0.57%Noncurrent loans to loans
0.69%Net loans and leases to deposits
69.37%Net loans and leases to core deposits
72.65%Equity capital to assets
7.08%Core capital (leverage) ratio
7.42%Tier 1 risk-based capital ratio
10.38%Total risk-based capital ratio
Memoranda
$12Average assets
$11,488Average earning assets
$850Average equity
$9,980Average loans

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