Prime Security Bank in Karlstad, Minnesota (MN)
| Prime Security Bank | |
|---|---|
| General | FDIC Certificate #: 10971 Status: Active Federal Reserve ID: 909756 Bank Holding Company (Regulatory Top Holder): North State Bancshares, Inc. (RSSDID: 2130303, Location: Shakopee, MN) Date Established: June 05, 1925 WWW: http://www.primesecurity.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Domestic: 4, Interstate: No) FDIC's unique #: 7025 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: 201 Main Street, Karlstad, MN 56732 County: Kittson Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Grand Forks Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Change in Location Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $68.8 mil Equity capital: $4.3 mil Deposits held in domestic offices: $59.4 mil Return on assets (ROA): -1.10% (-$0.8 mil) Quarterly return on assets: -3.55% (-$2.4 mil) Return on Equity (ROE): -17.35% (-$0.7 mil) Quarterly return on equity: -53.03% (-$2.1 mil) Net income: -$0.8 mil Quarterly Net income: -$0.6 mil Pretax return on assets: -1.10% (-$757.2 mil) Quarterly Pretax return on assets: -3.55% (-$2,443.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 20 |
| Total assets | $68,835 |
| Cash and due from depository institutions | $15,119 |
| Interest-bearing balances | $13,976 |
| Securities | $509 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $45,022 |
| Loan loss allowance | $1,328 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,445 |
| Other real estate owned | $3,535 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,205 |
| Life insurance assets | $68,835 |
| Total liabilities and capital | $64,530 |
| Total liabilities | $59,355 |
| Total deposits | $50,109 |
| Interest-bearing deposits | $59,355 |
| Deposits held in domestic offices | $96 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $5,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $175 |
| All other liabilities | $4,305 |
| Total equity capital | $4,305 |
| Total bank equity capital | $4,305 |
| Perpetual preferred stock | $0 |
| Common stock | $120 |
| Surplus | $8,430 |
| Undivided profits | $-4,245 |
| 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 | $2,028 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $192 |
| Average Assets, year-to-date | $59,507 |
| Average Assets, quarterly | $1,425 |
| Volatile liabilities | $76,603 |
| Insider loans | $68,858 |
| FHLB advances | $49,539 |
| Loans and leases held for sale | $69,417 |
| Unused loan commitments | $542 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $4,300 |
| Total risk weighted assets | $542 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $4,844 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $3,151 |
| Total interest expense | $873 |
| Net interest income | $2,278 |
| Provision for loan and lease losses | $287 |
| Total noninterest income | $381 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $214 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $167 |
| Total noninterest expense | $3,212 |
| Salaries and employee benefits | $1,403 |
| Premises and equipment expense | $440 |
| Additional noninterest expense | $1,369 |
| Pre-tax net operating income | -$840 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $2 |
| Income before extraordinary items | -$842 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$842 |
| Net charge-offs | $0 |
| Cash dividends | -$842 |
| Sale, conversion, retirement of capital stock, net | $25 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.79% |
| Cost of funding earning assets | 1.33% |
| Net interest margin | 3.46% |
| Noninterest income to earning assets | 0.58% |
| Noninterest expense to earning assets | 4.88% |
| Net operating income to assets | -1.10% |
| Return on assets (ROA) | -1.10% |
| Pretax return on assets | -1.10% |
| Return on equity (ROE) | -17.35% |
| Retained earnings to average equity (YTD only) | -17.35% |
| Net charge-offs to loans | 0.05% |
| Credit loss provision to net charge-offs | 1148.00% |
| Efficiency ratio | -22.12% |
| Assets per employee | $120,797 |
| Cash dividends to net income (YTD only) | 3.44% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.87% |
| Noncurrent assets plus other real estate owned to assets | 65.48% |
| Noncurrent loans to loans | 8.08% |
| Net loans and leases to deposits | 4.38% |
| Net loans and leases to core deposits | 75.85% |
| Equity capital to assets | 77.37% |
| Core capital (leverage) ratio | 6.25% |
| Tier 1 risk-based capital ratio | 6.19% |
| Total risk-based capital ratio | 8.68% |
| Memoranda | |
| Average assets | $10 |
| Average earning assets | $76,603 |
| Average equity | $4,853 |
| Average loans | $65,825 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7025 | Prime Security Bank | 201 Main Street, Karlstad, MN 56732 | June 05, 1925 | Full Service Brick and Mortar |  |
| 2 | 223529 | Lancaster Branch | 120 Central Avenue, Lancaster, MN 56735 | October 10, 1995 | Full Service Brick and Mortar |  |
| 3 | 223530 | Shakopee Branch | 1305 Vierling Drive East, Shakopee, MN 55379 | August 24, 1998 | Full Service Brick and Mortar | |
| 5 | 471462 | Eagan Branch | 1595 Thomas Center Drive, Eagan, MN 55122 | Febuary 06, 2008 | Full Service Brick and Mortar | |
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