Pine Island Bank in Pine Island, Minnesota (MN)
| Pine Island Bank | |
|---|---|
| General | FDIC Certificate #: 12193 Status: Active Federal Reserve ID: 729459 Bank Holding Company (Regulatory Top Holder): Zumbrota Agency, Inc. (RSSDID: 1123111, Location: Zumbrota, MN) Date Established: July 27, 1931 WWW: http://www.pineislandbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 12466 FDIC's unique #: 7744 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: 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: 128 South Main Street, Pine Island, MN 55963 County: Goodhue 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): Red Wing, MN (#39860) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $70.8 mil Equity capital: $8.0 mil Deposits held in domestic offices: $56.3 mil Return on assets (ROA): 0.43% ($0.3 mil) Quarterly return on assets: 1.26% ($0.9 mil) Return on Equity (ROE): 3.95% ($0.3 mil) Quarterly return on equity: 11.16% ($0.9 mil) Net income: $0.3 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.43% ($304.5 mil) Quarterly Pretax return on assets: 1.26% ($892.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 17 |
| Total assets | $70,824 |
| Cash and due from depository institutions | $5,678 |
| Interest-bearing balances | $46 |
| Securities | $22,142 |
| Federal funds sold & reverse repurchase agreements | $51 |
| Net loans & leases | $38,372 |
| Loan loss allowance | $612 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,598 |
| Other real estate owned | $657 |
| Goodwill and other intangibles | $1,216 |
| All other assets | $1,110 |
| Life insurance assets | $70,824 |
| Total liabilities and capital | $62,855 |
| Total liabilities | $56,323 |
| Total deposits | $46,463 |
| Interest-bearing deposits | $56,323 |
| Deposits held in domestic offices | $90 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $6,419 |
| Other borrowed funds | $0 |
| Subordinated debt | $113 |
| All other liabilities | $7,969 |
| Total equity capital | $7,969 |
| Total bank equity capital | $7,969 |
| Perpetual preferred stock | $0 |
| Common stock | $400 |
| Surplus | $5,735 |
| Undivided profits | $1,834 |
| 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 | $719 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $484 |
| Average Assets, year-to-date | $60,611 |
| Average Assets, quarterly | $14,917 |
| Volatile liabilities | $68,052 |
| Insider loans | $69,609 |
| FHLB advances | $49,091 |
| Loans and leases held for sale | $67,470 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $5,775 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $3,259 |
| Derivatives | $18 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,952 |
| Total interest expense | $820 |
| Net interest income | $2,132 |
| Provision for loan and lease losses | $318 |
| Total noninterest income | $237 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $74 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $163 |
| Total noninterest expense | $1,756 |
| Salaries and employee benefits | $881 |
| Premises and equipment expense | $233 |
| Additional noninterest expense | $642 |
| Pre-tax net operating income | $295 |
| Securities gains (losses) | $1 |
| Applicable income taxes | $1 |
| Income before extraordinary items | $295 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $295 |
| Net charge-offs | $0 |
| Cash dividends | $295 |
| Sale, conversion, retirement of capital stock, net | $59 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.99% |
| Cost of funding earning assets | 1.39% |
| Net interest margin | 3.60% |
| Noninterest income to earning assets | 0.40% |
| Noninterest expense to earning assets | 2.97% |
| Net operating income to assets | 0.43% |
| Return on assets (ROA) | 0.43% |
| Pretax return on assets | 0.43% |
| Return on equity (ROE) | 3.95% |
| Retained earnings to average equity (YTD only) | 3.95% |
| Net charge-offs to loans | 0.16% |
| Credit loss provision to net charge-offs | 538.98% |
| Efficiency ratio | 10.39% |
| Assets per employee | $66,695 |
| Cash dividends to net income (YTD only) | 4.17% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.57% |
| Noncurrent assets plus other real estate owned to assets | 85.12% |
| Noncurrent loans to loans | 1.94% |
| Net loans and leases to deposits | 1.84% |
| Net loans and leases to core deposits | 68.13% |
| Equity capital to assets | 70.51% |
| Core capital (leverage) ratio | 11.25% |
| Tier 1 risk-based capital ratio | 8.56% |
| Total risk-based capital ratio | 11.76% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $68,052 |
| Average equity | $7,477 |
| Average loans | $59,150 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7744 | Pine Island Bank | 128 South Main Street, Pine Island, MN 55963 | July 27, 1931 | Full Service Brick and Mortar |  |
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