Lake Country Community Bank in Morristown, Minnesota (MN)
| Lake Country Community Bank | |
|---|---|
| General | FDIC Certificate #: 17122 Status: Active Federal Reserve ID: 706450 Bank Holding Company (Regulatory Top Holder): Morristown Holding Company (RSSDID: 1142868, Location: Excelsior, MN) Date Established: May 02, 1928 WWW: http://www.lccbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 11165 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: No Asset Concentration Hierarchy: All Other Specialization < 1 Billion Date of Deposit Insurance: July 01, 1952 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: 111 Division Street, Morristown, MN 55052 County: Rice 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 Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Faribault-Northfield, MN (#22060) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $28.3 mil Equity capital: $2.0 mil Deposits held in domestic offices: $24.0 mil Return on assets (ROA): 0.11% ($0.0 mil) Quarterly return on assets: 0.16% ($0.0 mil) Return on Equity (ROE): 1.72% ($0.0 mil) Quarterly return on equity: 2.35% ($0.0 mil) Net income: $0.0 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.15% ($42.5 mil) Quarterly Pretax return on assets: 0.24% ($68.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 8 |
| Total assets | $28,330 |
| Cash and due from depository institutions | $3,871 |
| Interest-bearing balances | $1,662 |
| Securities | $325 |
| Federal funds sold & reverse repurchase agreements | $2,445 |
| Net loans & leases | $18,429 |
| Loan loss allowance | $979 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $217 |
| Other real estate owned | $1,163 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,880 |
| Life insurance assets | $28,330 |
| Total liabilities and capital | $26,285 |
| Total liabilities | $23,975 |
| Total deposits | $19,275 |
| Interest-bearing deposits | $23,975 |
| Deposits held in domestic offices | $96 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $2,066 |
| Other borrowed funds | $0 |
| Subordinated debt | $244 |
| All other liabilities | $2,045 |
| Total equity capital | $2,045 |
| Total bank equity capital | $2,045 |
| Perpetual preferred stock | $0 |
| Common stock | $175 |
| Surplus | $2,875 |
| Undivided profits | $-1,005 |
| 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 | $295 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $91 |
| Average Assets, year-to-date | $22,861 |
| Average Assets, quarterly | $3,647 |
| Volatile liabilities | $30,633 |
| Insider loans | $29,660 |
| FHLB advances | $16,440 |
| Loans and leases held for sale | $27,937 |
| Unused loan commitments | $643 |
| Tier 1 (core) risk-based capital | $643 |
| Tier 2 risk-based capital | $1,234 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,017 |
| Derivatives | $370 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,484 |
| Total interest expense | $391 |
| Net interest income | $1,093 |
| Provision for loan and lease losses | $242 |
| Total noninterest income | $170 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $69 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $101 |
| Total noninterest expense | $975 |
| Salaries and employee benefits | $475 |
| Premises and equipment expense | $153 |
| Additional noninterest expense | $347 |
| Pre-tax net operating income | $46 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $11 |
| Income before extraordinary items | $35 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $35 |
| Net charge-offs | $0 |
| Cash dividends | $35 |
| Sale, conversion, retirement of capital stock, net | $333 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.82% |
| Cost of funding earning assets | 1.53% |
| Net interest margin | 4.29% |
| Noninterest income to earning assets | 0.67% |
| Noninterest expense to earning assets | 3.83% |
| Net operating income to assets | 0.11% |
| Return on assets (ROA) | 0.11% |
| Pretax return on assets | 0.15% |
| Return on equity (ROE) | 1.72% |
| Retained earnings to average equity (YTD only) | 1.72% |
| Net charge-offs to loans | 1.54% |
| Credit loss provision to net charge-offs | 72.67% |
| Efficiency ratio | 0.86% |
| Assets per employee | $77,197 |
| Cash dividends to net income (YTD only) | 3.54% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 5.04% |
| Noncurrent assets plus other real estate owned to assets | 331.86% |
| Noncurrent loans to loans | 5.15% |
| Net loans and leases to deposits | 1.52% |
| Net loans and leases to core deposits | 76.87% |
| Equity capital to assets | 76.87% |
| Core capital (leverage) ratio | 7.22% |
| Tier 1 risk-based capital ratio | 4.42% |
| Total risk-based capital ratio | 7.51% |
| Memoranda | |
| Average assets | $9 |
| Average earning assets | $30,633 |
| Average equity | $2,035 |
| Average loans | $25,479 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 11165 | Lake Country Community Bank | 111 Division Street, Morristown, MN 55052 | May 02, 1928 | Full Service Brick and Mortar |  |
| 2 | 452515 | Nerstrand Branch | 313 Main St., Po Box 128, Nerstrand, MN 55053 | December 05, 2005 | Full Service Brick and Mortar |  |
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