First PREMIER Bank in Sioux Falls, South Dakota (SD)
| First PREMIER Bank | |
|---|---|
| General | FDIC Certificate #: 6085 Status: Active Federal Reserve ID: 374653 Bank Holding Company (Regulatory Top Holder): United National Corporation (RSSDID: 1842421, Location: Sioux Falls, SD) Date Established: January 01, 1914 WWW: http://www.firstpremier.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 17 (Domestic: 17, Interstate: No) OTS Docket #: 8938 FDIC's unique #: 4109 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) 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: Yes Asset Concentration Hierarchy: All Other Specialization > 1 Billion 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: 601 South Minnesota Avenue, Sioux Falls, SD 57104 County: Minnehaha 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 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 | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $1,187.0 mil Equity capital: $16.7 mil Deposits held in domestic offices: $95.1 mil Return on assets (ROA): 1.01.1950% ($12.0 mil) Quarterly return on assets: 1.01.2020% ($12.0 mil) Return on Equity (ROE): 10.01.2011% ($1.7 mil) Quarterly return on equity: 1.08.1941% ($0.2 mil) Net income: $1.3 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.01.1956% ($11,988.3 mil) Quarterly Pretax return on assets: 1.01.2026% ($11,988.3 mil) |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 277 |
| Total assets | $1,114,878 |
| Cash and due from depository institutions | $136,949 |
| Interest-bearing balances | $122,126 |
| Securities | $294,432 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $591,368 |
| Loan loss allowance | $9,016 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,769 |
| Other real estate owned | $1,027 |
| Goodwill and other intangibles | $0 |
| All other assets | $85,333 |
| Life insurance assets | $1,403 |
| Total liabilities and capital | $1,114,878 |
| Total liabilities | $949,812 |
| Total deposits | $864,163 |
| Interest-bearing deposits | $623,435 |
| Deposits held in domestic offices | $864,163 |
| % insured (estimated) | 42.25% |
| Federal funds purchased & repurchase agreements | $12,466 |
| Trading liabilities | $0 |
| Other borrowed funds | $60,000 |
| Subordinated debt | $0 |
| All other liabilities | $13,183 |
| Total equity capital | $165,066 |
| Total bank equity capital | $165,066 |
| Perpetual preferred stock | $165,066 |
| Common stock | $0 |
| Surplus | $4,160 |
| Undivided profits | $58,552 |
| Memoranda | |
| Noncurrent loans and leases | $102,354 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $77,688 |
| Income earned, not collected on loans | $0 |
| Earning assets | $3,701 |
| Long-term assets (5+ years) | $248 |
| Average Assets, year-to-date | $5,714 |
| Average Assets, quarterly | $1,007,926 |
| Volatile liabilities | $203,335 |
| Insider loans | $1,119,955 |
| FHLB advances | $1,150,920 |
| Loans and leases held for sale | $138,344 |
| Unused loan commitments | $3,007 |
| Tier 1 (core) risk-based capital | $60,000 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $4,202 |
| Total unused commitments | $77,688 |
| Restructured Loans and leases | $567 |
| Derivatives | $9,016 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $50,604 |
| Total interest expense | $18,566 |
| Net interest income | $32,038 |
| Provision for loan and lease losses | $6,100 |
| Total noninterest income | $22,877 |
| Fiduciary activities | $3,652 |
| Service charges on deposit accounts | $3,639 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $15,586 |
| Total noninterest expense | $32,041 |
| Salaries and employee benefits | $18,603 |
| Premises and equipment expense | $4,138 |
| Additional noninterest expense | $9,300 |
| Pre-tax net operating income | $16,774 |
| Securities gains (losses) | $101 |
| Applicable income taxes | $732 |
| Income before extraordinary items | $16,143 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $16,143 |
| Net charge-offs | $0 |
| Cash dividends | $16,143 |
| Sale, conversion, retirement of capital stock, net | $6,150 |
| Net operating income | $15,615 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.09% |
| Cost of funding earning assets | 1.87% |
| Net interest margin | 3.22% |
| Noninterest income to earning assets | 2.30% |
| Noninterest expense to earning assets | 3.22% |
| Net operating income to assets | 1.43% |
| Return on assets (ROA) | 1.44% |
| Pretax return on assets | 1.51% |
| Return on equity (ROE) | 9.67% |
| Retained earnings to average equity (YTD only) | 0.32% |
| Net charge-offs to loans | 1.01% |
| Credit loss provision to net charge-offs | 99.19% |
| Efficiency ratio | 3.72% |
| Assets per employee | $58,347 |
| Cash dividends to net income (YTD only) | 4.02% |
| Condition Ratios (%) | |
| Loss allowance to loans | 96.73% |
| Loss allowance to noncurrent loans | 1.50% |
| Noncurrent assets plus other real estate owned to assets | 243.61% |
| Noncurrent loans to loans | 0.42% |
| Net loans and leases to deposits | 0.62% |
| Net loans and leases to core deposits | 68.43% |
| Equity capital to assets | 79.03% |
| Core capital (leverage) ratio | 14.81% |
| Tier 1 risk-based capital ratio | 14.59% |
| Total risk-based capital ratio | 21.93% |
| Memoranda | |
| Average assets | $23 |
| Average earning assets | $1,119,955 |
| Average equity | $167,013 |
| Average loans | $994,620 |
| Total Fiduciary and Related Assets (December 31, 2010) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $1,724,709 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $928,121 |
| Employee benefit-defined contribution accounts | $223,856 |
| Employee benefit-defined benefit accounts | $24,868 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $47,827 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $320,416 |
| Fiduciary accounts held in foreign offices | $311,154 |
| Non-managed Assets | $0 |
| Number of Accounts | 1101 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $46,562 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $796,588 |
| Corporate trust and agency accounts | $353,562 |
| Other fiduciary accounts | $88,314 |
| Fiduciary accounts held in foreign offices | $38,871 |
| 17 South Dakota Branches as of Febuary 17, 2011 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 4109 | First Premier Bank | 601 South Minnesota Avenue, Sioux Falls, SD 57104 | January 01, 1914 | Full Service Brick and Mortar |  |
| 4 | 208684 | Wakonda Branch | 115 Ohio Street, Wakonda, SD 57073 | July 01, 1965 | Full Service Brick and Mortar |  |
| 18 | 208667 | South Kiwanis Branch | 3401 South Kiwanis Avenue, Sioux Falls, SD 57105 | July 02, 1973 | Full Service Brick and Mortar | |
| 23 | 5748 | Watertown Branch | 1 East Kemp, Watertown, SD 57201 | January 27, 1902 | Full Service Brick and Mortar | |
| 24 | 2592 | Lake Norden Branch | 503 Main Avenue, Lake Norden, SD 57248 | January 01, 1928 | Full Service Brick and Mortar | |
| 25 | 219294 | Castlewood Branch | Second And Main, Castlewood, SD 57223 | Febuary 08, 1979 | Full Service Brick and Mortar | |
| 26 | 8028 | Kranzburg Branch | 102 Dakota Ave, Kranzburg, SD 57245 | August 21, 1912 | Full Service Brick and Mortar | |
| 27 | 208697 | Watertown 212 Branch | 1414 9th Avenue Se, Watertown, SD 57201 | July 18, 1988 | Full Service Brick and Mortar | |
| 29 | 208699 | Southeastern Dr Branch | 4000 S Southeastern Drive, Sioux Falls, SD 57103 | July 08, 1992 | Full Service Brick and Mortar | |
| 30 | 340774 | Sioux Falls - Benson Road Office Bra | 3700 Potsdam Avenue North, Sioux Falls, SD 57104 | April 03, 2000 | Full Service Brick and Mortar | |
| 31 | 357516 | 26th & Cliff Branch | 1808 South Cliff Avenue, Sioux Falls, SD 57105 | June 01, 2000 | Full Service Brick and Mortar | |
| 32 | 360101 | Watertown I29 Branch | 824 34th Street, Watertown, SD 57201 | March 08, 2001 | Full Service Brick and Mortar | |
| 33 | 430770 | Sioux Falls - Sertoma Branch | 6701 W 41st St, Sioux Falls, SD 57106 | January 01, 2004 | Full Service Brick and Mortar | |
| 34 | 453114 | 69th & Minnesota Branch | 6010 S Minnesota Ave, Sioux Falls, SD 57108 | May 25, 2006 | Full Service Brick and Mortar | |
| 35 | 453115 | Sycamore Branch | 536 N Sycamore Ave, Sioux Falls, SD 57110 | October 03, 2005 | Full Service Brick and Mortar | |
| 36 | 493104 | West Benson Branch | 4001 W. Benson, Sioux Falls, SD 57107 | October 01, 2008 | Full Service Brick and Mortar | |
| 37 | 499294 | Sanford Office | 1305 West 18th Street, Sioux Falls, SD 57105 | November 16, 2009 | Full Service Brick and Mortar | |
Based on public records. Inadvertent errors are possible.
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