Kanabec State Bank in Mora, Minnesota (MN)
| Kanabec State Bank | |
|---|---|
| General | FDIC Certificate #: 8220 Status: Active Federal Reserve ID: 705958 Bank Holding Company (Regulatory Top Holder): First Citizens Financial Corp. (RSSDID: 1203509, Location: Mason City, IA) Date Established: May 01, 1917 WWW: http://www.kanabecstatebank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 11606 FDIC's unique #: 5243 Numeric code: 13 Regulator: FED 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: Mortgage Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: June 26, 2009 Last Structure Change Process Date: March 04, 2010 Last Data Update: March 04, 2010 Data Source Date: April 05, 2012 |
| Location | Address: 730 Forest Ave. E, Mora, MN 55051 County: Kanabec 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 |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $138.4 mil Equity capital: $17.4 mil Deposits held in domestic offices: $118.4 mil Return on assets (ROA): 0.45% ($0.6 mil) Quarterly return on assets: 0.22% ($0.3 mil) Return on Equity (ROE): 3.49% ($0.6 mil) Quarterly return on equity: 1.73% ($0.3 mil) Net income: $0.6 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.45% ($622.7 mil) Quarterly Pretax return on assets: 0.22% ($304.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 23 |
| Total assets | $138,375 |
| Cash and due from depository institutions | $3,656 |
| Interest-bearing balances | $2,899 |
| Securities | $67,331 |
| Federal funds sold & reverse repurchase agreements | $6,300 |
| Net loans & leases | $53,375 |
| Loan loss allowance | $1,255 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,292 |
| Other real estate owned | $280 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,141 |
| Life insurance assets | $138,375 |
| Total liabilities and capital | $120,992 |
| Total liabilities | $118,401 |
| Total deposits | $105,899 |
| Interest-bearing deposits | $118,401 |
| Deposits held in domestic offices | $74 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $2,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $591 |
| All other liabilities | $17,383 |
| Total equity capital | $17,383 |
| Total bank equity capital | $17,383 |
| Perpetual preferred stock | $0 |
| Common stock | $300 |
| Surplus | $5,204 |
| Undivided profits | $11,879 |
| 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 | $1,930 |
| Earning assets | $249 |
| Long-term assets (5+ years) | $516 |
| Average Assets, year-to-date | $129,905 |
| Average Assets, quarterly | $10,495 |
| Volatile liabilities | $134,060 |
| Insider loans | $137,931 |
| FHLB advances | $67,426 |
| Loans and leases held for sale | $135,339 |
| Unused loan commitments | $2,185 |
| Tier 1 (core) risk-based capital | $2,185 |
| Tier 2 risk-based capital | $16,569 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $7,543 |
| Derivatives | $110 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,073 |
| Total interest expense | $1,165 |
| Net interest income | $3,908 |
| Provision for loan and lease losses | $822 |
| Total noninterest income | $479 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $336 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $143 |
| Total noninterest expense | $3,016 |
| Salaries and employee benefits | $1,507 |
| Premises and equipment expense | $467 |
| Additional noninterest expense | $1,042 |
| Pre-tax net operating income | $549 |
| Securities gains (losses) | $50 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $597 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $597 |
| Net charge-offs | $0 |
| Cash dividends | $597 |
| Sale, conversion, retirement of capital stock, net | $1,255 |
| Net operating income | $300 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.05% |
| Cost of funding earning assets | 0.93% |
| Net interest margin | 3.12% |
| Noninterest income to earning assets | 0.38% |
| Noninterest expense to earning assets | 2.41% |
| Net operating income to assets | 0.41% |
| Return on assets (ROA) | 0.45% |
| Pretax return on assets | 0.45% |
| Return on equity (ROE) | 3.49% |
| Retained earnings to average equity (YTD only) | 1.74% |
| Net charge-offs to loans | 2.17% |
| Credit loss provision to net charge-offs | 65.50% |
| Efficiency ratio | 1.09% |
| Assets per employee | $68,749 |
| Cash dividends to net income (YTD only) | 6.02% |
| Condition Ratios (%) | |
| Loss allowance to loans | 50.25% |
| Loss allowance to noncurrent loans | 2.30% |
| Noncurrent assets plus other real estate owned to assets | 65.03% |
| Noncurrent loans to loans | 1.60% |
| Net loans and leases to deposits | 3.53% |
| Net loans and leases to core deposits | 45.08% |
| Equity capital to assets | 49.10% |
| Core capital (leverage) ratio | 12.56% |
| Tier 1 risk-based capital ratio | 12.24% |
| Total risk-based capital ratio | 24.57% |
| Memoranda | |
| Average assets | $26 |
| Average earning assets | $134,060 |
| Average equity | $17,099 |
| Average loans | $125,373 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5243 | Kanabec State Bank | 730 Forest Ave. E, Mora, MN 55051 | May 01, 1917 | Full Service Brick and Mortar |  |
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