Minnwest Bank Central in Montevideo, Minnesota (MN)
| Minnwest Bank Central | |
|---|---|
| General | FDIC Certificate #: 1398 Status: Active Federal Reserve ID: 699552 Bank Holding Company (Regulatory Top Holder): Minnwest Corporation (RSSDID: 1141348, Location: Minnetonka, MN) Date Established: September 04, 1930 WWW: http://www.minnwestbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Domestic: 4, Interstate: No) OTS Docket #: 12430 FDIC's unique #: 920 Numeric code: 21 Regulator: FDIC 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: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 15, 2008 Last Structure Change Process Date: April 01, 2008 Last Data Update: April 01, 2008 Data Source Date: April 05, 2012 |
| Location | Address: 107 North First Street, Montevideo, MN 56265 County: Chippewa Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Participated in Absorption/Consolidation/Merger |
| Financial Summary | Total assets: $319.8 mil Equity capital: $29.4 mil Deposits held in domestic offices: $254.3 mil Return on assets (ROA): 0.70% ($2.2 mil) Quarterly return on assets: 0.48% ($1.5 mil) Return on Equity (ROE): 7.65% ($2.2 mil) Quarterly return on equity: 5.10% ($1.5 mil) Net income: $2.2 mil Quarterly Net income: $0.4 mil Pretax return on assets: 1.08% ($3,453.8 mil) Quarterly Pretax return on assets: 0.72% ($2,302.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 52 |
| Total assets | $319,799 |
| Cash and due from depository institutions | $15,567 |
| Interest-bearing balances | $13,382 |
| Securities | $28,658 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $255,447 |
| Loan loss allowance | $2,757 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,632 |
| Other real estate owned | $9,621 |
| Goodwill and other intangibles | $234 |
| All other assets | $8,640 |
| Life insurance assets | $319,799 |
| Total liabilities and capital | $290,403 |
| Total liabilities | $254,270 |
| Total deposits | $223,983 |
| Interest-bearing deposits | $254,270 |
| Deposits held in domestic offices | $91 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $34,587 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,546 |
| All other liabilities | $29,396 |
| Total equity capital | $29,396 |
| Total bank equity capital | $29,396 |
| Perpetual preferred stock | $0 |
| Common stock | $500 |
| Surplus | $22,500 |
| Undivided profits | $6,396 |
| 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 | $1,689 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $4,282 |
| Average Assets, year-to-date | $297,487 |
| Average Assets, quarterly | $43,939 |
| Volatile liabilities | $319,932 |
| Insider loans | $314,668 |
| FHLB advances | $270,991 |
| Loans and leases held for sale | $311,691 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $28,946 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $77,136 |
| Derivatives | $4,729 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $14,664 |
| Total interest expense | $4,295 |
| Net interest income | $10,369 |
| Provision for loan and lease losses | $120 |
| Total noninterest income | -$231 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $570 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$801 |
| Total noninterest expense | $6,563 |
| Salaries and employee benefits | $3,054 |
| Premises and equipment expense | $527 |
| Additional noninterest expense | $2,982 |
| Pre-tax net operating income | $3,455 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $1,212 |
| Income before extraordinary items | $2,243 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,243 |
| Net charge-offs | $0 |
| Cash dividends | $2,243 |
| Sale, conversion, retirement of capital stock, net | $346 |
| Net operating income | $2,200 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.96% |
| Cost of funding earning assets | 1.45% |
| Net interest margin | 3.50% |
| Noninterest income to earning assets | -0.08% |
| Noninterest expense to earning assets | 2.22% |
| Net operating income to assets | 0.70% |
| Return on assets (ROA) | 0.70% |
| Pretax return on assets | 1.08% |
| Return on equity (ROE) | 7.65% |
| Retained earnings to average equity (YTD only) | 0.15% |
| Net charge-offs to loans | 0.14% |
| Credit loss provision to net charge-offs | 34.68% |
| Efficiency ratio | 10.33% |
| Assets per employee | $64,737 |
| Cash dividends to net income (YTD only) | 6.15% |
| Condition Ratios (%) | |
| Loss allowance to loans | 98.08% |
| Loss allowance to noncurrent loans | 1.07% |
| Noncurrent assets plus other real estate owned to assets | 163.23% |
| Noncurrent loans to loans | 3.54% |
| Net loans and leases to deposits | 0.65% |
| Net loans and leases to core deposits | 100.46% |
| Equity capital to assets | 114.65% |
| Core capital (leverage) ratio | 9.19% |
| Tier 1 risk-based capital ratio | 9.29% |
| Total risk-based capital ratio | 10.68% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $319,932 |
| Average equity | $29,322 |
| Average loans | $295,937 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 920 | Minnwest Bank Central | 107 North First Street, Montevideo, MN 56265 | September 04, 1930 | Full Service Brick and Mortar |  |
| 2 | 189464 | Montevideo Branch | 1404 East State Highway 7, Montevideo, MN 56265 | November 15, 1993 | Full Service Brick and Mortar |  |
| 5 | 9732 | Dawson Branch | 579 Pine Street, Dawson, MN 56232 | July 18, 1931 | Full Service Brick and Mortar | |
| 8 | 5995 | Minnwest Bank Ortonville Branch | 21 Se 2nd Street, Ortonville, MN 56278 | May 05, 1930 | Full Service Brick and Mortar | |
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