1st Financial Bank USA in Dakota Dunes, South Dakota (SD)
| 1st Financial Bank USA | |
|---|---|
| General | FDIC Certificate #: 1673 Status: Active Federal Reserve ID: 526452 Date Established: January 01, 1910 WWW: http://www.1fbusa.com 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 #: 1100 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Credit Card Institutions: Yes Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Credit-Card 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: Febuary 17, 2011 |
| Location | Address: 331 North Dakota Dunes Boulevard, Dakota Dunes, SD 57049 County: Union 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: Central Office of Thrift Supervision Region: West Combined Statistical Area (CSA): Sioux City-Vermillion, IA-NE-SD (#512) Core Based Statistical Area (CBSA): Sioux City, IA-NE-SD (#43580) CBSA Metro Statistical Area: Sioux City, IA-NE-SD (#43580) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $4.7 mil Equity capital: $10.0 mil Deposits held in domestic offices: $33.0 mil Return on assets (ROA): 1.02.1931% ($0.1 mil) Quarterly return on assets: 1.03.2024% ($0.1 mil) Return on Equity (ROE): 1.12.2017% ($0.1 mil) Quarterly return on equity: 16.09.2011% ($1.6 mil) Net income: $0.9 mil Quarterly Net income: $0.4 mil Pretax return on assets: 1.03.1975% ($48.8 mil) Quarterly Pretax return on assets: 1.05.1932% ($49.7 mil) |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 501 |
| Total assets | $481,722 |
| Cash and due from depository institutions | $87,046 |
| Interest-bearing balances | $77,008 |
| Securities | $219,376 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $63,334 |
| Loan loss allowance | $5,790 |
| Trading account assets | $2 |
| Bank premises and fixed assets | $7,655 |
| Other real estate owned | $89 |
| Goodwill and other intangibles | $0 |
| All other assets | $104,220 |
| Life insurance assets | $0 |
| Total liabilities and capital | $481,722 |
| Total liabilities | $375,309 |
| Total deposits | $330,683 |
| Interest-bearing deposits | $323,316 |
| Deposits held in domestic offices | $330,683 |
| % insured (estimated) | 98.71% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $44,626 |
| Total equity capital | $106,413 |
| Total bank equity capital | $106,413 |
| Perpetual preferred stock | $106,413 |
| Common stock | $0 |
| Surplus | $88 |
| Undivided profits | $17,800 |
| Memoranda | |
| Noncurrent loans and leases | $88,525 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $2,121,738 |
| Income earned, not collected on loans | $0 |
| Earning assets | $1,984 |
| Long-term assets (5+ years) | $27 |
| Average Assets, year-to-date | $366 |
| Average Assets, quarterly | $359,720 |
| Volatile liabilities | $76,799 |
| Insider loans | $502,566 |
| FHLB advances | $477,662 |
| Loans and leases held for sale | $12,148 |
| Unused loan commitments | $339 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $29,526 |
| Total risk weighted assets | $0 |
| Total unused commitments | $2,121,738 |
| Restructured Loans and leases | $0 |
| Derivatives | $5,081 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $80,780 |
| Total interest expense | $8,407 |
| Net interest income | $72,373 |
| Provision for loan and lease losses | $2,175 |
| Total noninterest income | $39,749 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $64 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $39,685 |
| Total noninterest expense | $91,834 |
| Salaries and employee benefits | $35,530 |
| Premises and equipment expense | $10,089 |
| Additional noninterest expense | $46,215 |
| Pre-tax net operating income | $18,113 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $6,944 |
| Income before extraordinary items | $11,169 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $11,169 |
| Net charge-offs | $0 |
| Cash dividends | $11,169 |
| Sale, conversion, retirement of capital stock, net | $7,700 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 21.47% |
| Cost of funding earning assets | 2.23% |
| Net interest margin | 19.24% |
| Noninterest income to earning assets | 10.57% |
| Noninterest expense to earning assets | 24.41% |
| Net operating income to assets | 2.22% |
| Return on assets (ROA) | 2.22% |
| Pretax return on assets | 3.60% |
| Return on equity (ROE) | 11.34% |
| Retained earnings to average equity (YTD only) | 11.34% |
| Net charge-offs to loans | 9.45% |
| Credit loss provision to net charge-offs | 28.25% |
| Efficiency ratio | 2.63% |
| Assets per employee | $81,905 |
| Cash dividends to net income (YTD only) | 0.96% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 8.38% |
| Noncurrent assets plus other real estate owned to assets | 291.83% |
| Noncurrent loans to loans | 0.43% |
| Net loans and leases to deposits | 2.87% |
| Net loans and leases to core deposits | 19.15% |
| Equity capital to assets | 19.88% |
| Core capital (leverage) ratio | 22.09% |
| Tier 1 risk-based capital ratio | 20.03% |
| Total risk-based capital ratio | 36.29% |
| Memoranda | |
| Average assets | $38 |
| Average earning assets | $502,566 |
| Average equity | $98,486 |
| Average loans | $376,195 |
| Bank Assets Sold and Securitized (December 31, 2010) (Dollar figures in thousands) | |
| Principal balance with servicing or other recourse retained | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $780,000 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| 2 South Dakota Branches as of Febuary 17, 2011 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 1100 | 1st Financial Bank Usa | 331 North Dakota Dunes Boulevard, Dakota Dunes, SD 57049 | January 01, 1910 | Full Service Brick and Mortar |  |
| 1 | 189981 | Dupree Branch | Main Street, Dupree, SD 57623 | December 15, 1994 | Full Service Brick and Mortar |  |
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