Platinum Bank in Oakdale, Minnesota (MN)
| Platinum Bank | |
|---|---|
| General | FDIC Certificate #: 58511 Status: Active Federal Reserve ID: 3538009 Bank Holding Company (Regulatory Top Holder): Platinum Bancorp, Inc. (RSSDID: 3537990, Location: Oakdale, MN) Date Established: Febuary 12, 2007 WWW: http://www.platinumbankmn.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) FDIC's unique #: 455065 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: Febuary 12, 2007 Last Structure Change Effective Date: December 04, 2007 Last Structure Change Process Date: April 25, 2008 Last Data Update: April 25, 2008 Data Source Date: April 05, 2012 |
| Location | Address: 7667 10th Street North, Oakdale, MN 55128 County: Washington 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): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460) |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $133.8 mil Equity capital: $14.2 mil Deposits held in domestic offices: $119.2 mil Return on assets (ROA): 0.94% ($1.3 mil) Quarterly return on assets: 0.00% ($0.0 mil) Return on Equity (ROE): 9.79% ($1.4 mil) Quarterly return on equity: 0.03% ($0.0 mil) Net income: $1.1 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.94% ($1,257.9 mil) Quarterly Pretax return on assets: 0.00% ($0.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 14 |
| Total assets | $133,815 |
| Cash and due from depository institutions | $1,851 |
| Interest-bearing balances | $0 |
| Securities | $30,431 |
| Federal funds sold & reverse repurchase agreements | $7,750 |
| Net loans & leases | $86,674 |
| Loan loss allowance | $1,000 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,166 |
| Other real estate owned | $2,074 |
| Goodwill and other intangibles | $0 |
| All other assets | $869 |
| Life insurance assets | $133,815 |
| Total liabilities and capital | $119,644 |
| Total liabilities | $119,180 |
| Total deposits | $102,608 |
| Interest-bearing deposits | $119,180 |
| Deposits held in domestic offices | $68 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $464 |
| All other liabilities | $14,171 |
| Total equity capital | $14,171 |
| Total bank equity capital | $14,171 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $13,713 |
| Undivided profits | $358 |
| 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 | $962 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $487 |
| Average Assets, year-to-date | $124,855 |
| Average Assets, quarterly | $42,202 |
| Volatile liabilities | $118,377 |
| Insider loans | $134,320 |
| FHLB advances | $87,124 |
| Loans and leases held for sale | $135,319 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $14,165 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $13,428 |
| Derivatives | $918 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $6,001 |
| Total interest expense | $1,532 |
| Net interest income | $4,469 |
| Provision for loan and lease losses | $116 |
| Total noninterest income | $274 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $208 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $66 |
| Total noninterest expense | $3,831 |
| Salaries and employee benefits | $1,883 |
| Premises and equipment expense | $347 |
| Additional noninterest expense | $1,601 |
| Pre-tax net operating income | $796 |
| Securities gains (losses) | $316 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $1,112 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,112 |
| Net charge-offs | $0 |
| Cash dividends | $1,112 |
| Sale, conversion, retirement of capital stock, net | $274 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.45% |
| Cost of funding earning assets | 1.39% |
| Net interest margin | 4.06% |
| Noninterest income to earning assets | 0.25% |
| Noninterest expense to earning assets | 3.48% |
| Net operating income to assets | 0.67% |
| Return on assets (ROA) | 0.94% |
| Pretax return on assets | 0.94% |
| Return on equity (ROE) | 9.79% |
| Retained earnings to average equity (YTD only) | 9.79% |
| Net charge-offs to loans | 0.32% |
| Credit loss provision to net charge-offs | 42.34% |
| Efficiency ratio | 3.33% |
| Assets per employee | $80,772 |
| Cash dividends to net income (YTD only) | 9.56% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.14% |
| Noncurrent assets plus other real estate owned to assets | 103.95% |
| Noncurrent loans to loans | 2.27% |
| Net loans and leases to deposits | 1.10% |
| Net loans and leases to core deposits | 72.73% |
| Equity capital to assets | 80.56% |
| Core capital (leverage) ratio | 10.59% |
| Tier 1 risk-based capital ratio | 10.47% |
| Total risk-based capital ratio | 16.26% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $118,377 |
| Average equity | $11,360 |
| Average loans | $110,107 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 455065 | Platinum Bank | 7667 10th Street North, Oakdale, MN 55128 | Febuary 12, 2007 | Full Service Brick and Mortar |  |
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