Lakewood Bank, National Association in Baxter, Minnesota (MN)
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Table of contents:
| Lakewood Bank, National Association | |
|---|---|
| General | FDIC Certificate #: 18969 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution: BlackRidgeBANK (#58580) Federal Reserve ID: 104056 Date Established: December 06, 1963 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 5 (Interstate: No) FDIC's unique #: 12814 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: December 06, 1963 Last Structure Change Effective Date: October 01, 2011 Last Structure Change Process Date: November 29, 2011 Last Data Update: November 29, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 14084 Baxter Drive, Ste 16, Baxter, MN 56425 County: Crow Wing 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 Core Based Statistical Area (CBSA): Brainerd, MN (#14660) CBSA Micro Statistical Area: Yes |
| Financial Summary | Total assets: $140.1 mil |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 30 |
| Total assets | $141,893 |
| Cash and due from depository institutions | $1,988 |
| Interest-bearing balances | $145 |
| Securities | $10,345 |
| Federal funds sold & reverse repurchase agreements | $10,086 |
| Net loans & leases | $103,742 |
| Loan loss allowance | $1,671 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,008 |
| Other real estate owned | $2,016 |
| Goodwill and other intangibles | $8,400 |
| All other assets | $2,308 |
| Life insurance assets | $0 |
| Total liabilities and capital | $141,893 |
| Total liabilities | $121,880 |
| Total deposits | $120,711 |
| Interest-bearing deposits | $101,072 |
| Deposits held in domestic offices | $120,711 |
| % insured (estimated) | 92.40% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $834 |
| Subordinated debt | $0 |
| All other liabilities | $335 |
| Total equity capital | $20,013 |
| Total bank equity capital | $20,013 |
| Perpetual preferred stock | $20,013 |
| Common stock | $0 |
| Surplus | $273 |
| Undivided profits | $18,325 |
| Memoranda | |
| Noncurrent loans and leases | $1,415 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $9,855 |
| Income earned, not collected on loans | $0 |
| Earning assets | $4,504 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $443 |
| Average Assets, quarterly | $124,318 |
| Volatile liabilities | $7,444 |
| Insider loans | $143,392 |
| FHLB advances | $144,648 |
| Loans and leases held for sale | $21,297 |
| Unused loan commitments | $49 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $1,596 |
| Total unused commitments | $9,855 |
| Restructured Loans and leases | $0 |
| Derivatives | $1,281 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $7,338 |
| Total interest expense | $2,022 |
| Net interest income | $5,316 |
| Provision for loan and lease losses | $395 |
| Total noninterest income | $769 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $350 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $419 |
| Total noninterest expense | $4,137 |
| Salaries and employee benefits | $1,829 |
| Premises and equipment expense | $545 |
| Additional noninterest expense | $1,763 |
| Pre-tax net operating income | $1,553 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $659 |
| Income before extraordinary items | $894 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $894 |
| Net charge-offs | $0 |
| Cash dividends | $894 |
| Sale, conversion, retirement of capital stock, net | $582 |
| Net operating income | $700 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.87% |
| Cost of funding earning assets | 1.62% |
| Net interest margin | 4.25% |
| Noninterest income to earning assets | 0.61% |
| Noninterest expense to earning assets | 3.31% |
| Net operating income to assets | 0.62% |
| Return on assets (ROA) | 0.62% |
| Pretax return on assets | 1.08% |
| Return on equity (ROE) | 4.48% |
| Retained earnings to average equity (YTD only) | 0.97% |
| Net charge-offs to loans | 0.52% |
| Credit loss provision to net charge-offs | 67.87% |
| Efficiency ratio | 3.35% |
| Assets per employee | $66,689 |
| Cash dividends to net income (YTD only) | 4.73% |
| Condition Ratios (%) | |
| Loss allowance to loans | 78.30% |
| Loss allowance to noncurrent loans | 1.59% |
| Noncurrent assets plus other real estate owned to assets | 37.10% |
| Noncurrent loans to loans | 4.60% |
| Net loans and leases to deposits | 4.27% |
| Net loans and leases to core deposits | 85.94% |
| Equity capital to assets | 103.49% |
| Core capital (leverage) ratio | 14.10% |
| Tier 1 risk-based capital ratio | 8.57% |
| Total risk-based capital ratio | 11.29% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $143,392 |
| Average equity | $19,938 |
| Average loans | $125,052 |
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