Red River State Bank in Halstad, Minnesota (MN)
| Red River State Bank | |
|---|---|
| General | FDIC Certificate #: 15820 Status: Active Federal Reserve ID: 1005655 Bank Holding Company (Regulatory Top Holder): Red River Financial Services, Inc. (RSSDID: 2142324, Location: Halstad, MN) Date Established: January 01, 1934 WWW: http://www.redriverbank.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 #: 10063 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: May 26, 1941 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: 300 2nd Avenue, Halstad, MN 56548 County: Norman 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 | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $55.6 mil Equity capital: $5.0 mil Deposits held in domestic offices: $50.4 mil Return on assets (ROA): 1.59% ($0.9 mil) Quarterly return on assets: 1.29% ($0.7 mil) Return on Equity (ROE): 16.32% ($0.8 mil) Quarterly return on equity: 13.26% ($0.7 mil) Net income: $0.8 mil Quarterly Net income: $0.2 mil Pretax return on assets: 1.59% ($884.3 mil) Quarterly Pretax return on assets: 1.29% ($717.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 10 |
| Total assets | $55,617 |
| Cash and due from depository institutions | $2,121 |
| Interest-bearing balances | $1,225 |
| Securities | $0 |
| Federal funds sold & reverse repurchase agreements | $13,283 |
| Net loans & leases | $39,199 |
| Loan loss allowance | $394 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $323 |
| Other real estate owned | $25 |
| Goodwill and other intangibles | $0 |
| All other assets | $666 |
| Life insurance assets | $55,617 |
| Total liabilities and capital | $50,599 |
| Total liabilities | $50,370 |
| Total deposits | $37,521 |
| Interest-bearing deposits | $50,370 |
| Deposits held in domestic offices | $71 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $229 |
| All other liabilities | $5,018 |
| Total equity capital | $5,018 |
| Total bank equity capital | $5,018 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $2,075 |
| Undivided profits | $2,843 |
| 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 | $383 |
| Earning assets | $69 |
| Long-term assets (5+ years) | $323 |
| Average Assets, year-to-date | $53,707 |
| Average Assets, quarterly | $16,765 |
| Volatile liabilities | $49,682 |
| Insider loans | $51,072 |
| FHLB advances | $43,282 |
| Loans and leases held for sale | $48,331 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $5,018 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,741 |
| Derivatives | $306 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,690 |
| Total interest expense | $633 |
| Net interest income | $2,057 |
| Provision for loan and lease losses | $106 |
| Total noninterest income | $115 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $62 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $53 |
| Total noninterest expense | $1,276 |
| Salaries and employee benefits | $659 |
| Premises and equipment expense | $98 |
| Additional noninterest expense | $519 |
| Pre-tax net operating income | $790 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $790 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $790 |
| Net charge-offs | $0 |
| Cash dividends | $790 |
| Sale, conversion, retirement of capital stock, net | $73 |
| Net operating income | $431 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.62% |
| Cost of funding earning assets | 1.32% |
| Net interest margin | 4.30% |
| Noninterest income to earning assets | 0.24% |
| Noninterest expense to earning assets | 2.67% |
| Net operating income to assets | 1.59% |
| Return on assets (ROA) | 1.59% |
| Pretax return on assets | 1.59% |
| Return on equity (ROE) | 16.32% |
| Retained earnings to average equity (YTD only) | 7.42% |
| Net charge-offs to loans | 0.18% |
| Credit loss provision to net charge-offs | 145.21% |
| Efficiency ratio | 12.27% |
| Assets per employee | $58,748 |
| Cash dividends to net income (YTD only) | 5.56% |
| Condition Ratios (%) | |
| Loss allowance to loans | 54.56% |
| Loss allowance to noncurrent loans | 1.00% |
| Noncurrent assets plus other real estate owned to assets | 102.87% |
| Noncurrent loans to loans | 0.73% |
| Net loans and leases to deposits | 0.97% |
| Net loans and leases to core deposits | 77.82% |
| Equity capital to assets | 97.07% |
| Core capital (leverage) ratio | 9.02% |
| Tier 1 risk-based capital ratio | 10.38% |
| Total risk-based capital ratio | 11.59% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $49,682 |
| Average equity | $4,841 |
| Average loans | $47,834 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 10063 | Red River State Bank | 300 2nd Avenue, Halstad, MN 56548 | January 01, 1934 | Full Service Brick and Mortar |  |
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