Frandsen Bank & Trust in Lonsdale, Minnesota (MN), ND, WI
| Frandsen Bank & Trust | |
|---|---|
| General | FDIC Certificate #: 1399 Status: Active Federal Reserve ID: 751656 Bank Holding Company (Regulatory Top Holder): Frandsen Financial Corporation (RSSDID: 1128358, Location: Arden Hills, MN) Date Established: August 01, 1901 WWW: http://www.frandsenbank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 38 (Domestic: 37, Interstate: Yes) OTS Docket #: 11453 FDIC's unique #: 921 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: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 17, 2012 Last Structure Change Process Date: March 26, 2012 Last Data Update: March 26, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 116 Central Street West, Lonsdale, MN 55046 County: Rice 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): Faribault-Northfield, MN (#22060) CBSA Micro Statistical Area: Yes |
| History of Changes | Participated in Absorption/Consolidation/Merger |
| Financial Summary | Total assets: $1,439.6 mil Equity capital: $188.8 mil Deposits held in domestic offices: $1,194.5 mil Return on assets (ROA): 0.92% ($13.2 mil) Quarterly return on assets: 1.41% ($20.3 mil) Return on Equity (ROE): 7.00% ($13.2 mil) Quarterly return on equity: 10.64% ($20.1 mil) Net income: $12.9 mil Quarterly Net income: $5.0 mil Pretax return on assets: 1.03% ($14,828.0 mil) Quarterly Pretax return on assets: 1.41% ($20,298.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 319 |
| Total assets | $1,439,611 |
| Cash and due from depository institutions | $46,772 |
| Interest-bearing balances | $10,223 |
| Securities | $444,023 |
| Federal funds sold & reverse repurchase agreements | $1,930 |
| Net loans & leases | $794,394 |
| Loan loss allowance | $16,847 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $27,375 |
| Other real estate owned | $16,117 |
| Goodwill and other intangibles | $68,471 |
| All other assets | $40,529 |
| Life insurance assets | $1,439,611 |
| Total liabilities and capital | $1,250,823 |
| Total liabilities | $1,194,467 |
| Total deposits | $1,135,064 |
| Interest-bearing deposits | $1,194,467 |
| Deposits held in domestic offices | $91 |
| % insured (estimated) | 34272.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $12,390 |
| Other borrowed funds | $0 |
| Subordinated debt | $9,694 |
| All other liabilities | $188,788 |
| Total equity capital | $188,788 |
| Total bank equity capital | $188,788 |
| Perpetual preferred stock | $0 |
| Common stock | $290 |
| Surplus | $167,177 |
| Undivided profits | $21,321 |
| 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 | $19,659 |
| Earning assets | $90 |
| Long-term assets (5+ years) | $6,357 |
| Average Assets, year-to-date | $1,250,570 |
| Average Assets, quarterly | $422,055 |
| Volatile liabilities | $1,399,903 |
| Insider loans | $1,416,538 |
| FHLB advances | $907,972 |
| Loans and leases held for sale | $1,341,705 |
| Unused loan commitments | $24,436 |
| Tier 1 (core) risk-based capital | $24,436 |
| Tier 2 risk-based capital | $118,651 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $159,921 |
| Derivatives | $358 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $58,213 |
| Total interest expense | $7,020 |
| Net interest income | $51,193 |
| Provision for loan and lease losses | $5,182 |
| Total noninterest income | $12,715 |
| Fiduciary activities | $1,129 |
| Service charges on deposit accounts | $4,279 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $7,307 |
| Total noninterest expense | $44,708 |
| Salaries and employee benefits | $19,018 |
| Premises and equipment expense | $4,858 |
| Additional noninterest expense | $20,832 |
| Pre-tax net operating income | $14,018 |
| Securities gains (losses) | $394 |
| Applicable income taxes | $1,480 |
| Income before extraordinary items | $12,932 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $12,932 |
| Net charge-offs | $0 |
| Cash dividends | $12,932 |
| Sale, conversion, retirement of capital stock, net | $5,235 |
| Net operating income | $10,755 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.79% |
| Cost of funding earning assets | 0.58% |
| Net interest margin | 4.21% |
| Noninterest income to earning assets | 1.05% |
| Noninterest expense to earning assets | 3.68% |
| Net operating income to assets | 0.90% |
| Return on assets (ROA) | 0.92% |
| Pretax return on assets | 1.03% |
| Return on equity (ROE) | 7.00% |
| Retained earnings to average equity (YTD only) | 1.18% |
| Net charge-offs to loans | 0.64% |
| Credit loss provision to net charge-offs | 98.99% |
| Efficiency ratio | 3.67% |
| Assets per employee | $68,674 |
| Cash dividends to net income (YTD only) | 4.51% |
| Condition Ratios (%) | |
| Loss allowance to loans | 83.17% |
| Loss allowance to noncurrent loans | 2.08% |
| Noncurrent assets plus other real estate owned to assets | 85.70% |
| Noncurrent loans to loans | 2.49% |
| Net loans and leases to deposits | 2.42% |
| Net loans and leases to core deposits | 66.51% |
| Equity capital to assets | 67.50% |
| Core capital (leverage) ratio | 13.11% |
| Tier 1 risk-based capital ratio | 8.84% |
| Total risk-based capital ratio | 13.07% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $1,399,903 |
| Average equity | $184,669 |
| Average loans | $1,214,998 |
| Total Fiduciary and Related Assets (December 31, 2011) (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 | $201,732 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $145,208 |
| Employee benefit-defined contribution accounts | $65,382 |
| Employee benefit-defined benefit accounts | $5,330 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $0 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $74,496 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 848 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $56,524 |
| Corporate trust and agency accounts | $1,685 |
| Other fiduciary accounts | $10,274 |
| Fiduciary accounts held in foreign offices | $43,565 |
| 32 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 921 | Frandsen Bank & Trust | 116 Central Street West, Lonsdale, MN 55046 | August 01, 1901 | Full Service Brick and Mortar |  |
| 1 | 189466 | North Garden Branch New Ulm | 2005 North Garden, New Ulm, MN 56073 | Febuary 18, 1988 | Full Service Brick and Mortar |  |
| 2 | 189467 | South Broadway Branch New Ulm | 1823 South Broadway, New Ulm, MN 56073 | November 21, 1988 | Full Service Brick and Mortar | |
| 5 | 433005 | New Ulm Main Branch | 100 North Minnesota Street, New Ulm, MN 56073 | November 01, 2004 | Full Service Brick and Mortar | |
| 6 | 917 | Dundas Branch | 715 Stafford Road North, Dundas, MN 55019 | April 18, 1912 | Full Service Brick and Mortar | |
| 7 | 441974 | Forest Lake Branch | 2001 West Broadway Avenue, Forest Lake, MN 55025 | July 21, 2005 | Full Service Brick and Mortar | |
| 8 | 6548 | Foley Branch | 341 Fourth Avenue, Foley, MN 56329 | May 03, 1903 | Full Service Brick and Mortar | |
| 9 | 12574 | Montgomery Branch | 125 First Street South, Montgomery, MN 56069 | Febuary 26, 1963 | Full Service Brick and Mortar | |
| 10 | 480928 | Foley Drive-Thu Branch | 341 Fourth Avenue, Foley, MN 56329 | June 30, 2008 | Limited Service Facility | |
| 11 | 13001 | East Grand Forks Branch | 1413 Central Avenue, N.W., East Grand Forks, MN 56721 | July 20, 1964 | Full Service Brick and Mortar | |
| 12 | 6258 | Warren Branch | 524-528 North First Street, Warren, MN 56762 | May 17, 1926 | Full Service Brick and Mortar | |
| 15 | 13166 | Oslo Branch | 212 Main Street, Oslo, MN 56744 | January 25, 1965 | Full Service Brick and Mortar | |
| 20 | 5230 | Ada Branch | 410 Second Street West, Ada, MN 56510 | March 01, 1881 | Full Service Brick and Mortar | |
| 21 | 60756 | Nisswa Branch | 24110 Smiley Road, Nisswa, MN 56468 | October 10, 1997 | Full Service Brick and Mortar | |
| 22 | 290727 | Crosslake Branch | 35470 Cty Rd 3, Crosslake, MN 56442 | October 10, 1997 | Full Service Brick and Mortar | |
| 23 | 361762 | Baxter Branch | 7429 Excelsior Rd, Baxter, MN 56425 | November 06, 2000 | Full Service Brick and Mortar | |
| 24 | 12701 | Waterville Branch | 320 East Main Street, Waterville, MN 56096 | August 01, 1963 | Full Service Brick and Mortar | |
| 25 | 246633 | Northridge Branch | 1661 Commerce Drive, North Mankato, MN 56003 | November 06, 1980 | Full Service Brick and Mortar | |
| 26 | 3498 | Minnesota Lake Branch | Main Street, Minnesota Lake, MN 56068 | November 01, 1902 | Full Service Brick and Mortar | |
| 27 | 357473 | North Mankato Drive-Thru Branch | 245 Belgrade Avenue, North Mankato, MN 56003 | November 23, 1999 | Limited Service Facility | |
| 28 | 360222 | Madison Avenue Branch | 1580 Madison Avenue, Mankato, MN 56001 | March 19, 2001 | Full Service Brick and Mortar | |
| 29 | 6763 | Hector Branch | 206 Main Street, Hector, MN 55342 | September 28, 1931 | Full Service Brick and Mortar | |
| 30 | 6513 | Fairfax Branch | 100 S Park St, Fairfax, MN 55332 | January 01, 1901 | Full Service Brick and Mortar | |
| 31 | 455412 | North Mankato Main Branch | 245 Belgrade Avenue, North Mankato, MN 56003 | September 11, 2006 | Full Service Brick and Mortar | |
| 32 | 46859 | Jordan Branch | 200 Creek Lane, Jordan, MN 55352 | January 02, 1991 | Full Service Brick and Mortar | |
| 35 | 3408 | Braham Branch | 121 South Main, Braham, MN 55006 | August 29, 1899 | Full Service Brick and Mortar | |
| 36 | 3511 | Pine City Branch | 560 East Third Avenue, Pine City, MN 55063 | December 03, 1896 | Full Service Brick and Mortar | |
| 37 | 44038 | Queen City Federal Savings Bank Bran | 501 Chestnut St, Virginia, MN 55792 | August 17, 1960 | Full Service Brick and Mortar | |
| 38 | 283809 | 102 East Sheridan Branch | 102 East Sheridan, Ely, MN 55731 | August 17, 1960 | Full Service Brick and Mortar | |
| 39 | 10118 | Tower Office | 415 Main St, Tower, MN 55790 | Febuary 25, 1942 | Full Service Brick and Mortar | |
| 40 | 452360 | Cloquet Branch | 712 Hwy 33 S., Cloquet, MN 55720 | October 21, 1996 | Full Service Brick and Mortar | |
| 41 | 5210 | Bird Island Branch | 205 South Main Street, Bird Island, MN 55310 | January 01, 1908 | Full Service Brick and Mortar | |
| 4 North Dakota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 16 | 12628 | Grand Forks Branch | 1616 South Washington Street, Grand Forks, ND 58201 | April 30, 1963 | Full Service Brick and Mortar | |
| 17 | 246404 | Columbia Park Branch | 28th Avenue South And Columbia Road, Grand Forks, ND 58201 | September 01, 1978 | Full Service Brick and Mortar | |
| 18 | 246405 | Columbia Mall Depository Branch | 2800 South Columbia Road, Grand Forks, ND 58201 | Febuary 15, 1997 | Limited Service Facility | |
| 19 | 433187 | University Village Office | 2755 10th Avenue North, Grand Forks, ND 58203 | November 22, 2004 | Full Service Brick and Mortar | |
| 2 Wisconsin Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 33 | 6121 | Luck Branch | 200 Main Street South, Luck, WI 54853 | January 24, 1931 | Full Service Brick and Mortar | |
| 34 | 220313 | Dresser Branch | Highway 35, Dresser, WI 54009 | January 24, 1931 | Full Service Brick and Mortar | |
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