Heritage Bank National Association in Spicer, Minnesota (MN), IA
| Heritage Bank National Association | |
|---|---|
| General | FDIC Certificate #: 19254 Status: Active Federal Reserve ID: 901358 Bank Holding Company (Regulatory Top Holder): Heritage Bancshares Group, Inc. (RSSDID: 2144739, Location: Willmar, MN) Date Established: October 08, 1964 WWW: http://www.heritagebankna.com Trust Powers Granted: No Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 13 (Domestic: 13, Interstate: Yes) OTS Docket #: 11456 FDIC's unique #: 13069 Numeric code: 3 Regulator: OCC 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: No Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: October 08, 1964 Last Structure Change Effective Date: July 01, 2011 Last Structure Change Process Date: July 27, 2011 Last Data Update: July 27, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 120 South Street West, Spicer, MN 56288 County: Kandiyohi 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 Core Based Statistical Area (CBSA): Willmar, MN (#48820) CBSA Micro Statistical Area: Yes |
| History of Changes | Participated in Absorption/Consolidation/Merger |
| Financial Summary | Total assets: $463.2 mil Equity capital: $44.1 mil Deposits held in domestic offices: $380.6 mil Return on assets (ROA): 1.16% ($5.4 mil) Quarterly return on assets: 1.30% ($6.0 mil) Return on Equity (ROE): 11.19% ($4.9 mil) Quarterly return on equity: 11.78% ($5.2 mil) Net income: $4.1 mil Quarterly Net income: $1.3 mil Pretax return on assets: 1.17% ($5,419.2 mil) Quarterly Pretax return on assets: 1.30% ($6,021.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 113 |
| Total assets | $463,178 |
| Cash and due from depository institutions | $21,642 |
| Interest-bearing balances | $2,589 |
| Securities | $176,186 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $249,269 |
| Loan loss allowance | $4,360 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,977 |
| Other real estate owned | $584 |
| Goodwill and other intangibles | $1,494 |
| All other assets | $10,026 |
| Life insurance assets | $463,178 |
| Total liabilities and capital | $419,055 |
| Total liabilities | $380,615 |
| Total deposits | $303,767 |
| Interest-bearing deposits | $380,615 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 11435.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $24,906 |
| Other borrowed funds | $0 |
| Subordinated debt | $2,099 |
| All other liabilities | $44,123 |
| Total equity capital | $44,123 |
| Total bank equity capital | $44,123 |
| Perpetual preferred stock | $0 |
| Common stock | $970 |
| Surplus | $28,049 |
| Undivided profits | $15,104 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $1,375 |
| Income earned, not collected on loans | $4,542 |
| Earning assets | $74 |
| Long-term assets (5+ years) | $2,643 |
| Average Assets, year-to-date | $428,044 |
| Average Assets, quarterly | $85,942 |
| Volatile liabilities | $348,856 |
| Insider loans | $400,471 |
| FHLB advances | $294,269 |
| Loans and leases held for sale | $415,033 |
| Unused loan commitments | $2,510 |
| Tier 1 (core) risk-based capital | $2,510 |
| Tier 2 risk-based capital | $41,206 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $56,716 |
| Derivatives | $4,092 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $16,181 |
| Total interest expense | $2,421 |
| Net interest income | $13,760 |
| Provision for loan and lease losses | $1,325 |
| Total noninterest income | $2,930 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $808 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $2,122 |
| Total noninterest expense | $11,267 |
| Salaries and employee benefits | $6,912 |
| Premises and equipment expense | $1,322 |
| Additional noninterest expense | $3,033 |
| Pre-tax net operating income | $4,098 |
| Securities gains (losses) | -$2 |
| Applicable income taxes | $32 |
| Income before extraordinary items | $4,064 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $4,064 |
| Net charge-offs | $0 |
| Cash dividends | $4,064 |
| Sale, conversion, retirement of capital stock, net | $1,478 |
| Net operating income | $2,550 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.07% |
| Cost of funding earning assets | 0.76% |
| Net interest margin | 4.31% |
| Noninterest income to earning assets | 0.92% |
| Noninterest expense to earning assets | 3.53% |
| Net operating income to assets | 1.17% |
| Return on assets (ROA) | 1.16% |
| Pretax return on assets | 1.17% |
| Return on equity (ROE) | 11.19% |
| Retained earnings to average equity (YTD only) | 4.17% |
| Net charge-offs to loans | 0.64% |
| Credit loss provision to net charge-offs | 89.65% |
| Efficiency ratio | 3.67% |
| Assets per employee | $67,124 |
| Cash dividends to net income (YTD only) | 4.10% |
| Condition Ratios (%) | |
| Loss allowance to loans | 62.75% |
| Loss allowance to noncurrent loans | 1.72% |
| Noncurrent assets plus other real estate owned to assets | 95.99% |
| Noncurrent loans to loans | 1.11% |
| Net loans and leases to deposits | 1.79% |
| Net loans and leases to core deposits | 65.49% |
| Equity capital to assets | 99.06% |
| Core capital (leverage) ratio | 9.53% |
| Tier 1 risk-based capital ratio | 9.93% |
| Total risk-based capital ratio | 14.00% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $348,856 |
| Average equity | $36,321 |
| Average loans | $319,136 |
| 9 Iowa Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 5 | 17451 | Heritage Bank, National Association Branch | 101 North Main Street, Holstein, IA 51025 | June 21, 1984 | Full Service Brick and Mortar |  |
| 6 | 625 | Aurelia Branch | 148 Main Street, Aurelia, IA 51005 | August 12, 1931 | Full Service Brick and Mortar | |
| 7 | 186742 | Cushing Branch | 200-202 Main Street, Cushing, IA 51018 | June 12, 1978 | Full Service Brick and Mortar | |
| 8 | 16017 | Lytton Branch | 200 Main Street, Lytton, IA 50561 | January 01, 1915 | Full Service Brick and Mortar | |
| 9 | 1023 | Alta Main Branch | 202 Main Street, Alta, IA 51002 | January 01, 1927 | Full Service Brick and Mortar | |
| 10 | 174 | Anthon Main Branch | 15 East Main Street, Anthon, IA 51004 | December 14, 1929 | Full Service Brick and Mortar | |
| 11 | 43735 | Sioux City Branch | 4530 Singing Hills Boulevard, Sioux City, IA 51106 | January 01, 1955 | Full Service Brick and Mortar | |
| 12 | 451649 | Storm Lake Branch | 210 East 5th Street, Storm Lake, IA 50588 | March 06, 2006 | Full Service Brick and Mortar | |
| 13 | 476977 | 6th Street Branch | 600 Pierce Street, Sioux City, IA 51101 | May 01, 2008 | Full Service Brick and Mortar | |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 13069 | Heritage Bank National Association | 120 South Street West, Spicer, MN 56288 | October 08, 1964 | Full Service Brick and Mortar |  |
| 2 | 6241 | Pennock Branch | 242 1st Street, Pennock, MN 56279 | January 01, 1904 | Full Service Brick and Mortar | |
| 3 | 419130 | Willmar Branch | 310 1st Street Sw, Willmar, MN 56201 | March 24, 2003 | Full Service Brick and Mortar | |
| 4 | 1051 | Raymond Branch | 202 Cofield North, Raymond, MN 56282 | December 07, 1912 | Full Service Brick and Mortar | |
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