Highland Bank in Saint Michael, Minnesota (MN)
| Highland Bank | |
|---|---|
| General | FDIC Certificate #: 16111 Status: Active Federal Reserve ID: 764058 Bank Holding Company (Regulatory Top Holder): Highland Bancshares, Inc. (RSSDID: 1124659, Location: Saint Michael, MN) Date Established: December 28, 1943 WWW: http://www.highlandbanks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Domestic: 6, Interstate: No) OTS Docket #: 9639 FDIC's unique #: 10328 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 03, 1944 Last Structure Change Effective Date: August 09, 2008 Last Structure Change Process Date: August 18, 2008 Last Data Update: August 18, 2008 Data Source Date: April 05, 2012 |
| Location | Address: 701 Central Avenue East, Saint Michael, MN 55376 County: Wright Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460) |
| History of Changes | Participated in Absorption/Consolidation/Merger |
| Financial Summary | Total assets: $466.6 mil Equity capital: $34.8 mil Deposits held in domestic offices: $345.9 mil Return on assets (ROA): 0.37% ($1.7 mil) Quarterly return on assets: -0.62% (-$2.9 mil) Return on Equity (ROE): 5.09% ($1.8 mil) Quarterly return on equity: -8.01% (-$2.8 mil) Net income: $1.7 mil Quarterly Net income: -$0.7 mil Pretax return on assets: 0.37% ($1,726.2 mil) Quarterly Pretax return on assets: -0.62% (-$2,892.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 91 |
| Total assets | $466,552 |
| Cash and due from depository institutions | $40,279 |
| Interest-bearing balances | $31,821 |
| Securities | $164,260 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $234,408 |
| Loan loss allowance | $6,846 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,051 |
| Other real estate owned | $12,642 |
| Goodwill and other intangibles | $4,047 |
| All other assets | $6,865 |
| Life insurance assets | $466,552 |
| Total liabilities and capital | $431,750 |
| Total liabilities | $345,927 |
| Total deposits | $258,619 |
| Interest-bearing deposits | $345,927 |
| Deposits held in domestic offices | $91 |
| % insured (estimated) | 27557.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $51,312 |
| Other borrowed funds | $0 |
| Subordinated debt | $6,954 |
| All other liabilities | $34,802 |
| Total equity capital | $34,802 |
| Total bank equity capital | $34,802 |
| Perpetual preferred stock | $0 |
| Common stock | $250 |
| Surplus | $56,984 |
| Undivided profits | $-22,432 |
| 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 | $10,599 |
| Earning assets | $773 |
| Long-term assets (5+ years) | $1,896 |
| Average Assets, year-to-date | $430,489 |
| Average Assets, quarterly | $149,081 |
| Volatile liabilities | $466,187 |
| Insider loans | $464,038 |
| FHLB advances | $281,280 |
| Loans and leases held for sale | $463,060 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $32,783 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $46,699 |
| Derivatives | $27 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $23,826 |
| Total interest expense | $5,799 |
| Net interest income | $18,027 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $488 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $1,162 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$674 |
| Total noninterest expense | $15,711 |
| Salaries and employee benefits | $6,751 |
| Premises and equipment expense | $1,540 |
| Additional noninterest expense | $7,420 |
| Pre-tax net operating income | $2,804 |
| Securities gains (losses) | -$1,059 |
| Applicable income taxes | $5 |
| Income before extraordinary items | $1,740 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,740 |
| Net charge-offs | $0 |
| Cash dividends | $1,740 |
| Sale, conversion, retirement of capital stock, net | $1,144 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.54% |
| Cost of funding earning assets | 1.35% |
| Net interest margin | 4.19% |
| Noninterest income to earning assets | 0.11% |
| Noninterest expense to earning assets | 3.65% |
| Net operating income to assets | 0.60% |
| Return on assets (ROA) | 0.37% |
| Pretax return on assets | 0.37% |
| Return on equity (ROE) | 5.09% |
| Retained earnings to average equity (YTD only) | 5.09% |
| Net charge-offs to loans | 0.44% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 2.45% |
| Assets per employee | $81,312 |
| Cash dividends to net income (YTD only) | 5.13% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.84% |
| Noncurrent assets plus other real estate owned to assets | 64.59% |
| Noncurrent loans to loans | 4.98% |
| Net loans and leases to deposits | 4.39% |
| Net loans and leases to core deposits | 67.76% |
| Equity capital to assets | 70.43% |
| Core capital (leverage) ratio | 7.46% |
| Tier 1 risk-based capital ratio | 7.08% |
| Total risk-based capital ratio | 11.65% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $466,187 |
| Average equity | $34,154 |
| Average loans | $430,030 |
| 6 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 10328 | Highland Bank | 701 Central Avenue East, Saint Michael, MN 55376 | December 28, 1943 | Full Service Brick and Mortar |  |
| 1 | 237314 | Albertville Branch | 5985 Large Avenue Ne, Albertville, MN 55301 | March 01, 1978 | Full Service Brick and Mortar |  |
| 2 | 237315 | Maple Grove Branch | 13370 Grove Drive, Maple Grove, MN 55369 | June 14, 1990 | Full Service Brick and Mortar | |
| 3 | 10570 | St Paul Branch | 2100 Ford Parkway, Saint Paul, MN 55116 | April 01, 1946 | Full Service Brick and Mortar | |
| 5 | 237993 | Bloomington Branch | 5270 West 84th Street, Bloomington, MN 55437 | March 02, 1987 | Full Service Brick and Mortar | |
| 9 | 15813 | Ridgedale State Bank Branch | 1730 Plymouth Road, Minnetonka, MN 55305 | May 22, 1978 | Full Service Brick and Mortar | |
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