Flagship Bank Winsted in Winsted, Minnesota (MN)
| Flagship Bank Winsted | |
|---|---|
| General | FDIC Certificate #: 10170 Status: Active Federal Reserve ID: 810151 Bank Holding Company (Regulatory Top Holder): Flagship Financial Group, Inc. (RSSDID: 1128675, Location: Eden Prairie, MN) Date Established: April 02, 1932 WWW: http://www.flagshipbanks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 10770 FDIC's unique #: 6511 Numeric code: 21 Regulator: FDIC 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: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: December 01, 2006 Last Structure Change Process Date: March 06, 2007 Last Data Update: March 06, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 110 First Street, North, Winsted, MN 55395 County: Mcleod Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Hutchinson, MN (#26780) CBSA Micro Statistical Area: Yes |
| History of Changes | Name Change |
| Financial Summary | Total assets: $39.4 mil Equity capital: $4.0 mil Deposits held in domestic offices: $34.8 mil Return on assets (ROA): -0.16% (-$0.1 mil) Quarterly return on assets: -0.44% (-$0.2 mil) Return on Equity (ROE): -1.58% (-$0.1 mil) Quarterly return on equity: -4.26% (-$0.2 mil) Net income: -$0.1 mil Quarterly Net income: -$0.0 mil Pretax return on assets: -0.25% (-$98.5 mil) Quarterly Pretax return on assets: -0.69% (-$272.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 16 |
| Total assets | $39,420 |
| Cash and due from depository institutions | $11,939 |
| Interest-bearing balances | $9,741 |
| Securities | $1,445 |
| Federal funds sold & reverse repurchase agreements | $270 |
| Net loans & leases | $20,916 |
| Loan loss allowance | $535 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $919 |
| Other real estate owned | $1,140 |
| Goodwill and other intangibles | $564 |
| All other assets | $2,227 |
| Life insurance assets | $39,420 |
| Total liabilities and capital | $35,400 |
| Total liabilities | $34,753 |
| Total deposits | $27,034 |
| Interest-bearing deposits | $34,753 |
| Deposits held in domestic offices | $95 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $647 |
| All other liabilities | $4,020 |
| Total equity capital | $4,020 |
| Total bank equity capital | $4,020 |
| Perpetual preferred stock | $0 |
| Common stock | $60 |
| Surplus | $3,501 |
| Undivided profits | $459 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $809 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $163 |
| Average Assets, year-to-date | $32,372 |
| Average Assets, quarterly | $1,703 |
| Volatile liabilities | $40,735 |
| Insider loans | $39,462 |
| FHLB advances | $24,250 |
| Loans and leases held for sale | $38,682 |
| Unused loan commitments | $1,370 |
| Tier 1 (core) risk-based capital | $1,370 |
| Tier 2 risk-based capital | $3,208 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $3,186 |
| Derivatives | $1,069 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,655 |
| Total interest expense | $278 |
| Net interest income | $1,377 |
| Provision for loan and lease losses | $440 |
| Total noninterest income | $1,105 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $195 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $910 |
| Total noninterest expense | $2,172 |
| Salaries and employee benefits | $1,196 |
| Premises and equipment expense | $199 |
| Additional noninterest expense | $777 |
| Pre-tax net operating income | -$130 |
| Securities gains (losses) | $28 |
| Applicable income taxes | -$38 |
| Income before extraordinary items | -$64 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$64 |
| Net charge-offs | $0 |
| Cash dividends | -$64 |
| Sale, conversion, retirement of capital stock, net | $553 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.91% |
| Cost of funding earning assets | 0.82% |
| Net interest margin | 4.08% |
| Noninterest income to earning assets | 3.28% |
| Noninterest expense to earning assets | 6.44% |
| Net operating income to assets | -0.20% |
| Return on assets (ROA) | -0.16% |
| Pretax return on assets | -0.25% |
| Return on equity (ROE) | -1.58% |
| Retained earnings to average equity (YTD only) | -1.58% |
| Net charge-offs to loans | 2.31% |
| Credit loss provision to net charge-offs | 79.57% |
| Efficiency ratio | 0.56% |
| Assets per employee | $86,060 |
| Cash dividends to net income (YTD only) | 2.46% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.49% |
| Noncurrent assets plus other real estate owned to assets | 66.13% |
| Noncurrent loans to loans | 4.94% |
| Net loans and leases to deposits | 3.77% |
| Net loans and leases to core deposits | 60.18% |
| Equity capital to assets | 60.18% |
| Core capital (leverage) ratio | 10.20% |
| Tier 1 risk-based capital ratio | 8.29% |
| Total risk-based capital ratio | 13.23% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $40,735 |
| Average equity | $4,057 |
| Average loans | $33,736 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6511 | Flagship Bank Winsted | 110 First Street, North, Winsted, MN 55395 | April 02, 1932 | Full Service Brick and Mortar |  |
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