Granite Falls Bank in Granite Falls, Minnesota (MN)
| Granite Falls Bank | |
|---|---|
| General | FDIC Certificate #: 10998 Status: Active Federal Reserve ID: 20857 Bank Holding Company (Regulatory Top Holder): Independent Bancshares, Inc. (RSSDID: 2466235, Location: Clarkfield, MN) Date Established: January 01, 1878 WWW: http://www.granitefallsbank.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) FDIC's unique #: 7048 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural 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: April 05, 2012 |
| Location | Address: 702 Prentice Street, Granite Falls, MN 56241 County: Yellow Medicine 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 |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $193.6 mil Equity capital: $22.1 mil Deposits held in domestic offices: $163.4 mil Return on assets (ROA): 1.57% ($3.0 mil) Quarterly return on assets: 1.39% ($2.7 mil) Return on Equity (ROE): 16.60% ($3.7 mil) Quarterly return on equity: 12.93% ($2.8 mil) Net income: $3.2 mil Quarterly Net income: $0.7 mil Pretax return on assets: 1.57% ($3,039.5 mil) Quarterly Pretax return on assets: 1.39% ($2,691.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 16 |
| Total assets | $193,599 |
| Cash and due from depository institutions | $12,668 |
| Interest-bearing balances | $9,285 |
| Securities | $123,161 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $52,876 |
| Loan loss allowance | $449 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,331 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $142 |
| All other assets | $3,421 |
| Life insurance assets | $193,599 |
| Total liabilities and capital | $171,548 |
| Total liabilities | $163,398 |
| Total deposits | $70,055 |
| Interest-bearing deposits | $163,398 |
| Deposits held in domestic offices | $85 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $7,986 |
| Other borrowed funds | $0 |
| Subordinated debt | $164 |
| All other liabilities | $22,051 |
| Total equity capital | $22,051 |
| Total bank equity capital | $22,051 |
| Perpetual preferred stock | $0 |
| Common stock | $200 |
| Surplus | $9,800 |
| Undivided profits | $12,051 |
| 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 | $326 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,797 |
| Average Assets, year-to-date | $185,322 |
| Average Assets, quarterly | $83,255 |
| Volatile liabilities | $203,342 |
| Insider loans | $200,439 |
| FHLB advances | $83,286 |
| Loans and leases held for sale | $194,854 |
| Unused loan commitments | $237 |
| Tier 1 (core) risk-based capital | $237 |
| Tier 2 risk-based capital | $17,304 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $24,993 |
| Derivatives | $180 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $6,038 |
| Total interest expense | $618 |
| Net interest income | $5,420 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $212 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $115 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $97 |
| Total noninterest expense | $2,551 |
| Salaries and employee benefits | $1,436 |
| Premises and equipment expense | $251 |
| Additional noninterest expense | $864 |
| Pre-tax net operating income | $3,081 |
| Securities gains (losses) | $102 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $3,183 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $3,183 |
| Net charge-offs | $0 |
| Cash dividends | $3,183 |
| Sale, conversion, retirement of capital stock, net | $172 |
| Net operating income | $300 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 3.09% |
| Cost of funding earning assets | 0.32% |
| Net interest margin | 2.77% |
| Noninterest income to earning assets | 0.11% |
| Noninterest expense to earning assets | 1.30% |
| Net operating income to assets | 1.52% |
| Return on assets (ROA) | 1.57% |
| Pretax return on assets | 1.57% |
| Return on equity (ROE) | 16.60% |
| Retained earnings to average equity (YTD only) | 15.03% |
| Net charge-offs to loans | 0.32% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 17.91% |
| Assets per employee | $45,295 |
| Cash dividends to net income (YTD only) | 12.10% |
| Condition Ratios (%) | |
| Loss allowance to loans | 9.43% |
| Loss allowance to noncurrent loans | 0.84% |
| Noncurrent assets plus other real estate owned to assets | 137.73% |
| Noncurrent loans to loans | 0.17% |
| Net loans and leases to deposits | 0.61% |
| Net loans and leases to core deposits | 32.36% |
| Equity capital to assets | 33.38% |
| Core capital (leverage) ratio | 11.39% |
| Tier 1 risk-based capital ratio | 8.88% |
| Total risk-based capital ratio | 20.78% |
| Memoranda | |
| Average assets | $21 |
| Average earning assets | $203,342 |
| Average equity | $19,180 |
| Average loans | $195,495 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7048 | Granite Falls Bank | 702 Prentice Street, Granite Falls, MN 56241 | January 01, 1878 | Full Service Brick and Mortar |  |
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