Minnwest Bank Luverne in Luverne, Minnesota (MN)
| Minnwest Bank Luverne | |
|---|---|
| General | FDIC Certificate #: 8224 Status: Active Federal Reserve ID: 957159 Bank Holding Company (Regulatory Top Holder): Minnwest Corporation (RSSDID: 1141348, Location: Minnetonka, MN) Date Established: January 01, 1882 WWW: http://www.minnwestbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) OTS Docket #: 12315 FDIC's unique #: 5245 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 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 116 East Main, Luverne, MN 56156 County: Rock Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Sioux Falls Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $169.6 mil Equity capital: $14.9 mil Deposits held in domestic offices: $149.3 mil Return on assets (ROA): 0.45% ($0.8 mil) Quarterly return on assets: 0.56% ($1.0 mil) Return on Equity (ROE): 5.24% ($0.8 mil) Quarterly return on equity: 6.39% ($1.0 mil) Net income: $0.8 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.74% ($1,255.3 mil) Quarterly Pretax return on assets: 0.96% ($1,628.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 29 |
| Total assets | $169,629 |
| Cash and due from depository institutions | $26,890 |
| Interest-bearing balances | $22,411 |
| Securities | $21,344 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $115,053 |
| Loan loss allowance | $1,350 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $567 |
| Other real estate owned | $2,431 |
| Goodwill and other intangibles | $651 |
| All other assets | $2,693 |
| Life insurance assets | $169,629 |
| Total liabilities and capital | $154,708 |
| Total liabilities | $149,292 |
| Total deposits | $132,858 |
| Interest-bearing deposits | $149,292 |
| Deposits held in domestic offices | $89 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $4,786 |
| Other borrowed funds | $0 |
| Subordinated debt | $630 |
| All other liabilities | $14,921 |
| Total equity capital | $14,921 |
| Total bank equity capital | $14,921 |
| Perpetual preferred stock | $0 |
| Common stock | $500 |
| Surplus | $9,000 |
| Undivided profits | $5,421 |
| 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 | $1,585 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,234 |
| Average Assets, year-to-date | $158,808 |
| Average Assets, quarterly | $15,760 |
| Volatile liabilities | $170,078 |
| Insider loans | $167,924 |
| FHLB advances | $120,456 |
| Loans and leases held for sale | $168,535 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $14,194 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $39,507 |
| Derivatives | $7,700 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $6,923 |
| Total interest expense | $1,845 |
| Net interest income | $5,078 |
| Provision for loan and lease losses | $295 |
| Total noninterest income | $38 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $322 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$284 |
| Total noninterest expense | $3,561 |
| Salaries and employee benefits | $1,424 |
| Premises and equipment expense | $245 |
| Additional noninterest expense | $1,892 |
| Pre-tax net operating income | $1,260 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $497 |
| Income before extraordinary items | $763 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $763 |
| Net charge-offs | $0 |
| Cash dividends | $763 |
| Sale, conversion, retirement of capital stock, net | $597 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.35% |
| Cost of funding earning assets | 1.16% |
| Net interest margin | 3.19% |
| Noninterest income to earning assets | 0.02% |
| Noninterest expense to earning assets | 2.23% |
| Net operating income to assets | 0.45% |
| Return on assets (ROA) | 0.45% |
| Pretax return on assets | 0.74% |
| Return on equity (ROE) | 5.24% |
| Retained earnings to average equity (YTD only) | 5.24% |
| Net charge-offs to loans | 0.50% |
| Credit loss provision to net charge-offs | 49.41% |
| Efficiency ratio | 2.60% |
| Assets per employee | $68,628 |
| Cash dividends to net income (YTD only) | 5.85% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.16% |
| Noncurrent assets plus other real estate owned to assets | 85.17% |
| Noncurrent loans to loans | 2.37% |
| Net loans and leases to deposits | 1.36% |
| Net loans and leases to core deposits | 77.07% |
| Equity capital to assets | 77.79% |
| Core capital (leverage) ratio | 8.80% |
| Tier 1 risk-based capital ratio | 8.42% |
| Total risk-based capital ratio | 11.78% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $170,078 |
| Average equity | $14,556 |
| Average loans | $159,330 |
| 3 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5245 | Minnwest Bank Luverne | 116 East Main, Luverne, MN 56156 | January 01, 1882 | Full Service Brick and Mortar |  |
| 2 | 2601 | Minnwest Bank Luverne- Hwy 75 Branch | 800 S. Kniss, Luverne, MN 56156 | January 01, 1894 | Full Service Brick and Mortar |  |
| 3 | 5641 | Beaver Creek Facility | Main Street, Beaver Creek, MN 56116 | June 18, 1917 | Limited Service Facility | |
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