Prior Lake State Bank in Prior Lake, Minnesota (MN)
| Prior Lake State Bank | |
|---|---|
| General | FDIC Certificate #: 10166 Status: Active Federal Reserve ID: 848752 Bank Holding Company (Regulatory Top Holder): Norlo, Inc. (RSSDID: 1125610, Location: Prior Lake, MN) Date Established: January 01, 1903 WWW: http://www.priorlake.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) OTS Docket #: 12937 FDIC's unique #: 6507 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: 16677 Duluth Avenue, S.E., Prior Lake, MN 55372 County: Scott 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 | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $191.5 mil Equity capital: $25.3 mil Deposits held in domestic offices: $165.6 mil Return on assets (ROA): 1.55% ($3.0 mil) Quarterly return on assets: 1.71% ($3.3 mil) Return on Equity (ROE): 11.67% ($2.9 mil) Quarterly return on equity: 12.76% ($3.2 mil) Net income: $2.9 mil Quarterly Net income: $0.8 mil Pretax return on assets: 1.55% ($2,967.8 mil) Quarterly Pretax return on assets: 1.71% ($3,274.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 34 |
| Total assets | $191,474 |
| Cash and due from depository institutions | $5,492 |
| Interest-bearing balances | $2,050 |
| Securities | $57,613 |
| Federal funds sold & reverse repurchase agreements | $19,375 |
| Net loans & leases | $102,118 |
| Loan loss allowance | $1,618 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $587 |
| Other real estate owned | $3,397 |
| Goodwill and other intangibles | $0 |
| All other assets | $2,892 |
| Life insurance assets | $191,474 |
| Total liabilities and capital | $166,185 |
| Total liabilities | $165,613 |
| Total deposits | $152,570 |
| Interest-bearing deposits | $165,613 |
| Deposits held in domestic offices | $81 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $572 |
| All other liabilities | $25,289 |
| Total equity capital | $25,289 |
| Total bank equity capital | $25,289 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $13,950 |
| Undivided profits | $11,289 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $227 |
| Income earned, not collected on loans | $2,539 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $661 |
| Average Assets, year-to-date | $181,156 |
| Average Assets, quarterly | $2,650 |
| Volatile liabilities | $184,923 |
| Insider loans | $187,861 |
| FHLB advances | $122,435 |
| Loans and leases held for sale | $187,623 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $24,944 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $23,130 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $7,131 |
| Total interest expense | $802 |
| Net interest income | $6,329 |
| Provision for loan and lease losses | $925 |
| Total noninterest income | $1,050 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $459 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $591 |
| Total noninterest expense | $3,594 |
| Salaries and employee benefits | $2,133 |
| Premises and equipment expense | $211 |
| Additional noninterest expense | $1,250 |
| Pre-tax net operating income | $2,860 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $2,860 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,860 |
| Net charge-offs | $0 |
| Cash dividends | $2,860 |
| Sale, conversion, retirement of capital stock, net | $799 |
| Net operating income | $1,194 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.12% |
| Cost of funding earning assets | 0.46% |
| Net interest margin | 3.65% |
| Noninterest income to earning assets | 0.61% |
| Noninterest expense to earning assets | 2.07% |
| Net operating income to assets | 1.55% |
| Return on assets (ROA) | 1.55% |
| Pretax return on assets | 1.55% |
| Return on equity (ROE) | 11.67% |
| Retained earnings to average equity (YTD only) | 6.80% |
| Net charge-offs to loans | 0.75% |
| Credit loss provision to net charge-offs | 115.77% |
| Efficiency ratio | 4.74% |
| Assets per employee | $48,706 |
| Cash dividends to net income (YTD only) | 5.63% |
| Condition Ratios (%) | |
| Loss allowance to loans | 41.75% |
| Loss allowance to noncurrent loans | 1.56% |
| Noncurrent assets plus other real estate owned to assets | 63.73% |
| Noncurrent loans to loans | 3.10% |
| Net loans and leases to deposits | 2.45% |
| Net loans and leases to core deposits | 61.66% |
| Equity capital to assets | 63.01% |
| Core capital (leverage) ratio | 13.21% |
| Tier 1 risk-based capital ratio | 13.29% |
| Total risk-based capital ratio | 20.37% |
| Memoranda | |
| Average assets | $22 |
| Average earning assets | $184,923 |
| Average equity | $24,504 |
| Average loans | $173,249 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6507 | Prior Lake State Bank | 16677 Duluth Avenue, S.E., Prior Lake, MN 55372 | January 01, 1903 | Full Service Brick and Mortar |  |
| 1 | 221981 | Crossroads Facility | 14033 Commerce Avenue, Prior Lake, MN 55372 | September 03, 1985 | Full Service Brick and Mortar |  |
| 2 | 467780 | Mckenna Crossing Branch | 13810 Shepherd's Path Nw, Suite 139, Prior Lake, MN 55379 | August 09, 2007 | | |
| 3 | 477852 | Mckenna Crossing Branch | 13810 Shepherd's Path N.W. Suite 139, Prior Lake, MN 55379 | August 09, 2007 | Full Service Brick and Mortar | |
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