Security Bank Minnesota in Albert Lea, Minnesota (MN)
| Security Bank Minnesota | |
|---|---|
| General | FDIC Certificate #: 10984 Status: Active Federal Reserve ID: 295057 Bank Holding Company (Regulatory Top Holder): Lake Bank Shares, Inc. Employee Stock Ownership Plan (RSSDID: 2728438, Location: Albert Lea, MN) Date Established: January 01, 1906 WWW: http://www.securitybankmn.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 2 (Domestic: 2, Interstate: No) OTS Docket #: 10501 FDIC's unique #: 7036 Numeric code: 13 Regulator: FED 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: 427 Bridge Avenue, Albert Lea, MN 56007 County: Freeborn 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 Core Based Statistical Area (CBSA): Albert Lea, MN (#10660) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $93.8 mil Equity capital: $10.7 mil Deposits held in domestic offices: $74.2 mil Return on assets (ROA): 1.22% ($1.1 mil) Quarterly return on assets: 1.02% ($1.0 mil) Return on Equity (ROE): 11.94% ($1.3 mil) Quarterly return on equity: 8.94% ($1.0 mil) Net income: $1.1 mil Quarterly Net income: $0.2 mil Pretax return on assets: 1.22% ($1,144.3 mil) Quarterly Pretax return on assets: 1.02% ($956.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 26 |
| Total assets | $93,793 |
| Cash and due from depository institutions | $2,553 |
| Interest-bearing balances | $547 |
| Securities | $31,716 |
| Federal funds sold & reverse repurchase agreements | $835 |
| Net loans & leases | $55,780 |
| Loan loss allowance | $931 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $305 |
| Other real estate owned | $44 |
| Goodwill and other intangibles | $0 |
| All other assets | $2,560 |
| Life insurance assets | $93,793 |
| Total liabilities and capital | $83,046 |
| Total liabilities | $74,166 |
| Total deposits | $59,071 |
| Interest-bearing deposits | $74,166 |
| Deposits held in domestic offices | $99 |
| % insured (estimated) | 7700.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $180 |
| All other liabilities | $10,747 |
| Total equity capital | $10,747 |
| Total bank equity capital | $10,747 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $6,500 |
| Undivided profits | $4,147 |
| 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 | $505 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $487 |
| Average Assets, year-to-date | $88,878 |
| Average Assets, quarterly | $32,794 |
| Volatile liabilities | $91,515 |
| Insider loans | $93,555 |
| FHLB advances | $63,321 |
| Loans and leases held for sale | $95,914 |
| Unused loan commitments | $930 |
| Tier 1 (core) risk-based capital | $930 |
| Tier 2 risk-based capital | $9,437 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $3,831 |
| Derivatives | $784 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $4,834 |
| Total interest expense | $553 |
| Net interest income | $4,281 |
| Provision for loan and lease losses | $590 |
| Total noninterest income | $213 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $204 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $9 |
| Total noninterest expense | $2,787 |
| Salaries and employee benefits | $1,546 |
| Premises and equipment expense | $264 |
| Additional noninterest expense | $977 |
| Pre-tax net operating income | $1,117 |
| Securities gains (losses) | $4 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $1,121 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,121 |
| Net charge-offs | $0 |
| Cash dividends | $1,121 |
| Sale, conversion, retirement of capital stock, net | $437 |
| Net operating income | $350 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.58% |
| Cost of funding earning assets | 0.64% |
| Net interest margin | 4.95% |
| Noninterest income to earning assets | 0.25% |
| Noninterest expense to earning assets | 3.22% |
| Net operating income to assets | 1.22% |
| Return on assets (ROA) | 1.22% |
| Pretax return on assets | 1.22% |
| Return on equity (ROE) | 11.94% |
| Retained earnings to average equity (YTD only) | 8.21% |
| Net charge-offs to loans | 0.75% |
| Credit loss provision to net charge-offs | 135.01% |
| Efficiency ratio | 3.91% |
| Assets per employee | $62,016 |
| Cash dividends to net income (YTD only) | 3.61% |
| Condition Ratios (%) | |
| Loss allowance to loans | 31.22% |
| Loss allowance to noncurrent loans | 1.64% |
| Noncurrent assets plus other real estate owned to assets | 184.36% |
| Noncurrent loans to loans | 0.59% |
| Net loans and leases to deposits | 0.89% |
| Net loans and leases to core deposits | 75.21% |
| Equity capital to assets | 79.22% |
| Core capital (leverage) ratio | 11.46% |
| Tier 1 risk-based capital ratio | 9.84% |
| Total risk-based capital ratio | 14.90% |
| Memoranda | |
| Average assets | $16 |
| Average earning assets | $91,515 |
| Average equity | $9,387 |
| Average loans | $86,557 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7036 | Security Bank Minnesota | 427 Bridge Avenue, Albert Lea, MN 56007 | January 01, 1906 | Full Service Brick and Mortar |  |
| 3 | 3440 | Security Bank Minnesota - Emmons | 201 Main Street, Emmons, MN 56029 | May 16, 1903 | Full Service Brick and Mortar |  |
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