Park State Bank in Duluth, Minnesota (MN)
| Park State Bank | |
|---|---|
| General | FDIC Certificate #: 8851 Status: Active Federal Reserve ID: 286457 Bank Holding Company (Regulatory Top Holder): Park Bank Corporation Of Duluth (RSSDID: 2359887, Location: Duluth, MN) Date Established: June 28, 1916 WWW: http://www.parkstatebank.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 #: 5646 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: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: April 20, 2011 Last Structure Change Process Date: April 22, 2011 Last Data Update: April 22, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 2630 West Superior Street, Duluth, MN 55806 County: St. Louis 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 Metropolitan Statistical Area (MSA): Duluth-Superior, MN-WI (#2240) Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260) CBSA Metro Statistical Area: Duluth, MN-WI (#20260) |
| Financial Summary | Total assets: $29.5 mil Equity capital: $1.6 mil Deposits held in domestic offices: $27.9 mil Return on assets (ROA): -0.14% (-$0.0 mil) Quarterly return on assets: 0.20% ($0.1 mil) Return on Equity (ROE): -3.08% (-$0.1 mil) Quarterly return on equity: 3.72% ($0.1 mil) Net income: -$0.0 mil Quarterly Net income: $0.0 mil Pretax return on assets: -0.14% (-$41.3 mil) Quarterly Pretax return on assets: 0.20% ($59.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 13 |
| Total assets | $29,488 |
| Cash and due from depository institutions | $3,696 |
| Interest-bearing balances | $1,284 |
| Securities | $3,648 |
| Federal funds sold & reverse repurchase agreements | $860 |
| Net loans & leases | $19,170 |
| Loan loss allowance | $317 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $361 |
| Other real estate owned | $1,037 |
| Goodwill and other intangibles | $0 |
| All other assets | $716 |
| Life insurance assets | $29,488 |
| Total liabilities and capital | $27,875 |
| Total liabilities | $27,854 |
| Total deposits | $21,044 |
| Interest-bearing deposits | $27,854 |
| Deposits held in domestic offices | $96 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $21 |
| All other liabilities | $1,613 |
| Total equity capital | $1,613 |
| Total bank equity capital | $1,613 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $2,810 |
| Undivided profits | $-1,247 |
| 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 | $94 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $124 |
| Average Assets, year-to-date | $24,962 |
| Average Assets, quarterly | $5,266 |
| Volatile liabilities | $30,486 |
| Insider loans | $29,943 |
| FHLB advances | $18,941 |
| Loans and leases held for sale | $30,850 |
| Unused loan commitments | $375 |
| Tier 1 (core) risk-based capital | $375 |
| Tier 2 risk-based capital | $1,600 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $748 |
| Derivatives | $144 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,502 |
| Total interest expense | $179 |
| Net interest income | $1,323 |
| Provision for loan and lease losses | $11 |
| Total noninterest income | $384 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $357 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $27 |
| Total noninterest expense | $1,749 |
| Salaries and employee benefits | $751 |
| Premises and equipment expense | $172 |
| Additional noninterest expense | $826 |
| Pre-tax net operating income | -$53 |
| Securities gains (losses) | $9 |
| Applicable income taxes | $0 |
| Income before extraordinary items | -$44 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$44 |
| Net charge-offs | $0 |
| Cash dividends | -$44 |
| Sale, conversion, retirement of capital stock, net | $330 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.73% |
| Cost of funding earning assets | 0.68% |
| Net interest margin | 5.05% |
| Noninterest income to earning assets | 1.47% |
| Noninterest expense to earning assets | 6.68% |
| Net operating income to assets | -0.17% |
| Return on assets (ROA) | -0.14% |
| Pretax return on assets | -0.14% |
| Return on equity (ROE) | -3.08% |
| Retained earnings to average equity (YTD only) | -3.08% |
| Net charge-offs to loans | 1.58% |
| Credit loss provision to net charge-offs | 3.33% |
| Efficiency ratio | -0.13% |
| Assets per employee | $102,460 |
| Cash dividends to net income (YTD only) | 2.27% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.63% |
| Noncurrent assets plus other real estate owned to assets | 337.23% |
| Noncurrent loans to loans | 3.84% |
| Net loans and leases to deposits | 0.48% |
| Net loans and leases to core deposits | 68.82% |
| Equity capital to assets | 70.30% |
| Core capital (leverage) ratio | 5.47% |
| Tier 1 risk-based capital ratio | 5.19% |
| Total risk-based capital ratio | 8.45% |
| Memoranda | |
| Average assets | $10 |
| Average earning assets | $30,486 |
| Average equity | $1,427 |
| Average loans | $26,197 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5646 | Park State Bank | 2630 West Superior Street, Duluth, MN 55806 | June 28, 1916 | Full Service Brick and Mortar |  |
| 3 | 432652 | Park State Bank - Minneapolis Branch | 430 1st Avenue, Suite #104, Minneapolis, MN 55401 | October 05, 2004 | Full Service Brick and Mortar |  |
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