Premier Bank Minnesota in Farmington, Minnesota (MN)
| Premier Bank Minnesota | |
|---|---|
| General | FDIC Certificate #: 33204 Status: Active Federal Reserve ID: 1481745 Date Established: October 05, 1990 WWW: http://www.premierbanks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 8 (Domestic: 8, Interstate: No) FDIC's unique #: 46444 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: October 05, 1990 Last Structure Change Effective Date: March 28, 2012 Last Structure Change Process Date: March 28, 2012 Last Data Update: March 28, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 316 Oak Street, Farmington, MN 55024 County: Dakota 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: $176.6 mil Equity capital: $13.0 mil Deposits held in domestic offices: $162.7 mil Return on assets (ROA): -0.30% (-$0.5 mil) Quarterly return on assets: -2.35% (-$4.2 mil) Return on Equity (ROE): -4.16% (-$0.5 mil) Quarterly return on equity: -31.26% (-$4.1 mil) Net income: -$0.6 mil Quarterly Net income: -$1.1 mil Pretax return on assets: -0.30% (-$529.7 mil) Quarterly Pretax return on assets: -2.35% (-$4,149.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 35 |
| Total assets | $176,562 |
| Cash and due from depository institutions | $9,151 |
| Interest-bearing balances | $4,549 |
| Securities | $35,402 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $111,426 |
| Loan loss allowance | $3,404 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,728 |
| Other real estate owned | $15,794 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,061 |
| Life insurance assets | $176,562 |
| Total liabilities and capital | $163,551 |
| Total liabilities | $162,723 |
| Total deposits | $136,127 |
| Interest-bearing deposits | $162,723 |
| Deposits held in domestic offices | $95 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $828 |
| All other liabilities | $13,011 |
| Total equity capital | $13,011 |
| Total bank equity capital | $13,011 |
| Perpetual preferred stock | $0 |
| Common stock | $2,178 |
| Surplus | $14,095 |
| Undivided profits | $-3,262 |
| 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 | $2,373 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $693 |
| Average Assets, year-to-date | $151,377 |
| Average Assets, quarterly | $21,031 |
| Volatile liabilities | $187,930 |
| Insider loans | $179,641 |
| FHLB advances | $129,273 |
| Loans and leases held for sale | $180,650 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $12,901 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $11,902 |
| Derivatives | $1,745 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $7,665 |
| Total interest expense | $1,735 |
| Net interest income | $5,930 |
| Provision for loan and lease losses | $1,850 |
| Total noninterest income | $1,301 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $545 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $756 |
| Total noninterest expense | $6,308 |
| Salaries and employee benefits | $1,778 |
| Premises and equipment expense | $869 |
| Additional noninterest expense | $3,661 |
| Pre-tax net operating income | -$927 |
| Securities gains (losses) | $358 |
| Applicable income taxes | $0 |
| Income before extraordinary items | -$569 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$569 |
| Net charge-offs | $0 |
| Cash dividends | -$569 |
| Sale, conversion, retirement of capital stock, net | $3,061 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.83% |
| Cost of funding earning assets | 1.09% |
| Net interest margin | 3.74% |
| Noninterest income to earning assets | 0.82% |
| Noninterest expense to earning assets | 3.98% |
| Net operating income to assets | -0.49% |
| Return on assets (ROA) | -0.30% |
| Pretax return on assets | -0.30% |
| Return on equity (ROE) | -4.16% |
| Retained earnings to average equity (YTD only) | -4.16% |
| Net charge-offs to loans | 2.49% |
| Credit loss provision to net charge-offs | 60.44% |
| Efficiency ratio | 0.30% |
| Assets per employee | $86,323 |
| Cash dividends to net income (YTD only) | 5.04% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.96% |
| Noncurrent assets plus other real estate owned to assets | 143.45% |
| Noncurrent loans to loans | 10.29% |
| Net loans and leases to deposits | 2.07% |
| Net loans and leases to core deposits | 68.48% |
| Equity capital to assets | 69.79% |
| Core capital (leverage) ratio | 7.37% |
| Tier 1 risk-based capital ratio | 7.14% |
| Total risk-based capital ratio | 9.98% |
| Memoranda | |
| Average assets | $11 |
| Average earning assets | $187,930 |
| Average equity | $13,686 |
| Average loans | $158,613 |
| 8 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 46444 | Premier Bank Minnesota | 316 Oak Street, Farmington, MN 55024 | October 05, 1990 | Full Service Brick and Mortar |  |
| 2 | 282179 | Faribault Branch | 417 N.W. Fourth Street, Faribault, MN 55021 | January 01, 1910 | Full Service Brick and Mortar |  |
| 4 | 282180 | Northfield Branch | 112 East Fifth Street, Northfield, MN 55057 | January 01, 1910 | Full Service Brick and Mortar | |
| 5 | 282181 | Owatonna Branch | 209 East Main Street, Owatonna, MN 55060 | January 01, 1910 | Full Service Brick and Mortar | |
| 6 | 289375 | Bloomington Branch | 500 West 98th Street, Bloomington, MN 55420 | March 16, 1998 | Full Service Brick and Mortar | |
| 8 | 190423 | Albertville Branch | 11055 61st Street Ne, Albertville, MN 55301 | August 10, 1998 | Full Service Brick and Mortar | |
| 11 | 450885 | Monticello Branch | 4134 Deegan Avenue, N.E., Monticello, MN 55362 | April 27, 2006 | Full Service Brick and Mortar | |
| 12 | 457238 | Hastings Branch | 101 East 10th Street, Hastings, MN 55033 | December 18, 2006 | Full Service Brick and Mortar | |
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