Rushford State Bank (Incorporated) in Rushford, Minnesota (MN)
| Rushford State Bank (Incorporated) | |
|---|---|
| General | FDIC Certificate #: 11411 Status: Active Federal Reserve ID: 884657 Bank Holding Company (Regulatory Top Holder): Rushford State Bancorp, Inc. (RSSDID: 1132195, Location: Rushford, MN) Date Established: March 07, 1867 WWW: http://www.rushfordstatebank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 7285 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: January 04, 2007 Last Structure Change Process Date: January 10, 2007 Last Data Update: January 10, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 219 S. Mill Street, Rushford, MN 55971 County: Fillmore 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 |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $46.9 mil Equity capital: $3.8 mil Deposits held in domestic offices: $41.2 mil Return on assets (ROA): 0.94% ($0.4 mil) Quarterly return on assets: 0.84% ($0.4 mil) Return on Equity (ROE): 12.01% ($0.5 mil) Quarterly return on equity: 10.64% ($0.4 mil) Net income: $0.4 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.94% ($441.3 mil) Quarterly Pretax return on assets: 0.84% ($394.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 14 |
| Total assets | $46,945 |
| Cash and due from depository institutions | $3,267 |
| Interest-bearing balances | $2,080 |
| Securities | $7,322 |
| Federal funds sold & reverse repurchase agreements | $1,064 |
| Net loans & leases | $33,127 |
| Loan loss allowance | $349 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $661 |
| Other real estate owned | $58 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,446 |
| Life insurance assets | $46,945 |
| Total liabilities and capital | $43,145 |
| Total liabilities | $41,199 |
| Total deposits | $34,332 |
| Interest-bearing deposits | $41,199 |
| Deposits held in domestic offices | $95 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,800 |
| Other borrowed funds | $0 |
| Subordinated debt | $146 |
| All other liabilities | $3,800 |
| Total equity capital | $3,800 |
| Total bank equity capital | $3,800 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $2,700 |
| Undivided profits | $1,000 |
| 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 | $405 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $363 |
| Average Assets, year-to-date | $43,593 |
| Average Assets, quarterly | $10,008 |
| Volatile liabilities | $46,617 |
| Insider loans | $47,501 |
| FHLB advances | $33,466 |
| Loans and leases held for sale | $48,443 |
| Unused loan commitments | $706 |
| Tier 1 (core) risk-based capital | $706 |
| Tier 2 risk-based capital | $3,663 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $3,642 |
| Derivatives | $51 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,564 |
| Total interest expense | $475 |
| Net interest income | $2,089 |
| Provision for loan and lease losses | $90 |
| Total noninterest income | $177 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $98 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $79 |
| Total noninterest expense | $1,737 |
| Salaries and employee benefits | $907 |
| Premises and equipment expense | $186 |
| Additional noninterest expense | $644 |
| Pre-tax net operating income | $439 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $439 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $439 |
| Net charge-offs | $0 |
| Cash dividends | $439 |
| Sale, conversion, retirement of capital stock, net | $194 |
| Net operating income | $239 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.91% |
| Cost of funding earning assets | 1.10% |
| Net interest margin | 4.82% |
| Noninterest income to earning assets | 0.41% |
| Noninterest expense to earning assets | 4.01% |
| Net operating income to assets | 0.94% |
| Return on assets (ROA) | 0.94% |
| Pretax return on assets | 0.94% |
| Return on equity (ROE) | 12.01% |
| Retained earnings to average equity (YTD only) | 5.47% |
| Net charge-offs to loans | 0.56% |
| Credit loss provision to net charge-offs | 46.39% |
| Efficiency ratio | 2.73% |
| Assets per employee | $76,655 |
| Cash dividends to net income (YTD only) | 3.35% |
| Condition Ratios (%) | |
| Loss allowance to loans | 54.44% |
| Loss allowance to noncurrent loans | 1.04% |
| Noncurrent assets plus other real estate owned to assets | 86.17% |
| Noncurrent loans to loans | 0.99% |
| Net loans and leases to deposits | 1.21% |
| Net loans and leases to core deposits | 80.41% |
| Equity capital to assets | 82.39% |
| Core capital (leverage) ratio | 8.09% |
| Tier 1 risk-based capital ratio | 7.56% |
| Total risk-based capital ratio | 10.95% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $46,617 |
| Average equity | $3,657 |
| Average loans | $43,352 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7285 | Rushford State Bank (Incorporated) | 219 S. Mill Street, Rushford, MN 55971 | March 07, 1867 | Full Service Brick and Mortar |  |
| 2 | 486614 | Rushford State Bank Houston Office | 119 East Cedar Street, Houston, MN 55943 | January 05, 2009 | Full Service Retail |  |
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