FDIC Certificate #: 9947 Status: Active Federal Reserve ID: 300157 Bank Holding Company (Regulatory Top Holder): Lincoln Investment Company (RSSDID: 1122468, Location: Lennox, SD) Date Established: January 01, 1883 Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 6357 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: No Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 214 S Main St., Lennox, SD 57039 County: Lincoln Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Sioux Falls Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Sioux Falls, SD (#7760) Core Based Statistical Area (CBSA): Sioux Falls, SD (#43620) CBSA Metro Statistical Area: Sioux Falls, SD (#43620)
History of Changes
Change in Location
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $62.9 mil Equity capital: $7.7 mil Deposits held in domestic offices: $55.1 mil Return on assets (ROA): 0.21% ($0.1 mil) Quarterly return on assets: 0.16% ($0.1 mil) Return on Equity (ROE): 1.68% ($0.1 mil) Quarterly return on equity: 1.29% ($0.1 mil) Net income: $0.1 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.27% ($169.9 mil) Quarterly Pretax return on assets: 0.33% ($207.7 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
20Total employees (full-time equivalent)
$62,936Total assets
$12,901Cash and due from depository institutions
$11,077Interest-bearing balances
$10,903Securities
$7,385Federal funds sold & reverse repurchase agreements
$30,661Net loans & leases
$595Loan loss allowance
$0Trading account assets
$80Bank premises and fixed assets
$249Other real estate owned
$0Goodwill and other intangibles
$62,936Life insurance assets
$757All other assets
$55,264Total liabilities and capital
$55,140Total liabilities
$45,469Total deposits
$55,140Interest-bearing deposits
$94Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$22Trading liabilities
$0Other borrowed funds
$102Subordinated debt
$7,672All other liabilities
$7,672Total equity capital
$7,672Total bank equity capital
$0Perpetual preferred stock
$100Common stock
$400Surplus
$7,172Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$111Income earned, not collected on loans
$0Earning assets
$505Long-term assets (5+ years)
$60,026Average Assets, year-to-date
$452Average Assets, quarterly
$62,091Volatile liabilities
$62,354Insider loans
$32,561FHLB advances
$63,911Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$7,671Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$4,516Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$1,888Total interest income
$414Total interest expense
$1,474Net interest income
$0Provision for loan and lease losses
$258Total noninterest income
$0Fiduciary activities
$174Service charges on deposit accounts
$0Trading account gains & fees
$84Additional noninterest income
$1,563Total noninterest expense
$913Salaries and employee benefits
$147Premises and equipment expense
$503Additional noninterest expense
$169Pre-tax net operating income
$0Securities gains (losses)
$38Applicable income taxes
$131Income before extraordinary items
$0Extraordinary gains - net
$131Net income attributable to bank
$0Net charge-offs
$131Cash dividends
-$250Sale, conversion, retirement of capital stock, net
$420Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.20%Yield on earning assets
0.70%Cost of funding earning assets
2.50%Net interest margin
0.44%Noninterest income to earning assets
2.65%Noninterest expense to earning assets
0.21%Net operating income to assets
0.21%Return on assets (ROA)
0.27%Pretax return on assets
1.68%Return on equity (ROE)
-3.70%Retained earnings to average equity (YTD only)
-0.79%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
90,242Assets per employee
3.15%Cash dividends to net income (YTD only)
Condition Ratios (%)
320.61%Loss allowance to loans
1.90%Loss allowance to noncurrent loans
536.04%Noncurrent assets plus other real estate owned to assets
0.57%Noncurrent loans to loans
0.36%Net loans and leases to deposits
55.61%Net loans and leases to core deposits
55.61%Equity capital to assets
12.19%Core capital (leverage) ratio
12.00%Tier 1 risk-based capital ratio
23.56%Total risk-based capital ratio
Memoranda
$25Average assets
$62,091Average earning assets
$7,820Average equity
$59,050Average loans
List of branches
2 South Dakota Branches as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
6357
Valley Exchange Bank
214 S Main St., Lennox, SD 57039
January 01, 1883
Full Service Brick and Mortar
1
221596
Tea Branch
Main Street, Tea, SD 57064
August 09, 1975
Full Service Brick and Mortar
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