Glenwood State Bank (Incorporated) in Glenwood, Minnesota (MN)
| Glenwood State Bank (Incorporated) | |
|---|---|
| General | FDIC Certificate #: 8853 Status: Active Federal Reserve ID: 975854 Date Established: May 09, 1907 WWW: http://www.glenwoodstate.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 5648 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: July 10, 2007 Last Structure Change Process Date: July 11, 2007 Last Data Update: July 11, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 5 East Minnesota Street, Glenwood, MN 56334 County: Pope Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| Financial Summary | Total assets: $187.7 mil Equity capital: $17.9 mil Deposits held in domestic offices: $154.0 mil Return on assets (ROA): 0.82% ($1.5 mil) Quarterly return on assets: 0.02% ($0.0 mil) Return on Equity (ROE): 8.41% ($1.5 mil) Quarterly return on equity: 0.20% ($0.0 mil) Net income: $1.5 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.82% ($1,539.4 mil) Quarterly Pretax return on assets: 0.02% ($37.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 45 |
| Total assets | $187,737 |
| Cash and due from depository institutions | $12,049 |
| Interest-bearing balances | $8,736 |
| Securities | $2,373 |
| Federal funds sold & reverse repurchase agreements | $167 |
| Net loans & leases | $161,507 |
| Loan loss allowance | $2,322 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,200 |
| Other real estate owned | $3,946 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,495 |
| Life insurance assets | $187,737 |
| Total liabilities and capital | $169,831 |
| Total liabilities | $154,039 |
| Total deposits | $128,604 |
| Interest-bearing deposits | $154,039 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $15,602 |
| Other borrowed funds | $0 |
| Subordinated debt | $190 |
| All other liabilities | $17,906 |
| Total equity capital | $17,906 |
| Total bank equity capital | $17,906 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $16,400 |
| Undivided profits | $1,406 |
| 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 | $2,631 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $959 |
| Average Assets, year-to-date | $172,783 |
| Average Assets, quarterly | $13,021 |
| Volatile liabilities | $181,433 |
| Insider loans | $184,555 |
| FHLB advances | $170,223 |
| Loans and leases held for sale | $190,060 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $17,862 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $26,575 |
| Derivatives | $7,011 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $9,512 |
| Total interest expense | $2,566 |
| Net interest income | $6,946 |
| Provision for loan and lease losses | $700 |
| Total noninterest income | $184 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $376 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$192 |
| Total noninterest expense | $4,935 |
| Salaries and employee benefits | $2,779 |
| Premises and equipment expense | $508 |
| Additional noninterest expense | $1,648 |
| Pre-tax net operating income | $1,495 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $5 |
| Income before extraordinary items | $1,490 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,490 |
| Net charge-offs | $0 |
| Cash dividends | $1,490 |
| Sale, conversion, retirement of capital stock, net | $493 |
| Net operating income | $729 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.67% |
| Cost of funding earning assets | 1.53% |
| Net interest margin | 4.14% |
| Noninterest income to earning assets | 0.11% |
| Noninterest expense to earning assets | 2.94% |
| Net operating income to assets | 0.82% |
| Return on assets (ROA) | 0.82% |
| Pretax return on assets | 0.82% |
| Return on equity (ROE) | 8.41% |
| Retained earnings to average equity (YTD only) | 4.29% |
| Net charge-offs to loans | 0.31% |
| Credit loss provision to net charge-offs | 141.99% |
| Efficiency ratio | 4.45% |
| Assets per employee | $69,215 |
| Cash dividends to net income (YTD only) | 4.17% |
| Condition Ratios (%) | |
| Loss allowance to loans | 48.93% |
| Loss allowance to noncurrent loans | 1.42% |
| Noncurrent assets plus other real estate owned to assets | 88.26% |
| Noncurrent loans to loans | 3.50% |
| Net loans and leases to deposits | 1.61% |
| Net loans and leases to core deposits | 104.85% |
| Equity capital to assets | 109.39% |
| Core capital (leverage) ratio | 9.54% |
| Tier 1 risk-based capital ratio | 9.40% |
| Total risk-based capital ratio | 10.49% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $181,433 |
| Average equity | $17,726 |
| Average loans | $167,728 |
| 3 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5648 | Glenwood State Bank (Incorporated) | 5 East Minnesota Street, Glenwood, MN 56334 | May 09, 1907 | Full Service Brick and Mortar |  |
| 1 | 219061 | Detached Facility | Washington And Central Streets, Villard, MN 56385 | December 08, 1980 | Limited Service Facility |  |
| 2 | 473138 | Alexandria Branch | 2221 South Broadway, Alexandria, MN 56308 | March 14, 2008 | Full Service Brick and Mortar | |
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