Security Bank USA in Bemidji, Minnesota (MN)
| Security Bank USA | |
|---|---|
| General | FDIC Certificate #: 1604 Status: Active Federal Reserve ID: 950758 Bank Holding Company (Regulatory Top Holder): Security State Bancshares Of Bemidji, Inc. (RSSDID: 1125496, Location: Bemidji, MN) Date Established: Febuary 07, 1910 WWW: http://www.securitybankusa.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) OTS Docket #: 14181 FDIC's unique #: 1048 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: 1025 Paul Bunyan Drive, N.W., Bemidji, MN 56601 County: Beltrami 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 Core Based Statistical Area (CBSA): Bemidji, MN (#13420) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $106.3 mil Equity capital: $10.2 mil Deposits held in domestic offices: $92.7 mil Return on assets (ROA): 1.26% ($1.3 mil) Quarterly return on assets: 1.32% ($1.4 mil) Return on Equity (ROE): 13.74% ($1.4 mil) Quarterly return on equity: 13.98% ($1.4 mil) Net income: $1.4 mil Quarterly Net income: $0.4 mil Pretax return on assets: 1.26% ($1,339.8 mil) Quarterly Pretax return on assets: 1.32% ($1,403.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 32 |
| Total assets | $106,333 |
| Cash and due from depository institutions | $8,947 |
| Interest-bearing balances | $6,057 |
| Securities | $5,742 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $83,997 |
| Loan loss allowance | $1,008 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,705 |
| Other real estate owned | $1,122 |
| Goodwill and other intangibles | $600 |
| All other assets | $1,220 |
| Life insurance assets | $106,333 |
| Total liabilities and capital | $96,147 |
| Total liabilities | $92,673 |
| Total deposits | $79,810 |
| Interest-bearing deposits | $92,673 |
| Deposits held in domestic offices | $87 |
| % insured (estimated) | 3186.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $288 |
| All other liabilities | $10,186 |
| Total equity capital | $10,186 |
| Total bank equity capital | $10,186 |
| Perpetual preferred stock | $0 |
| Common stock | $120 |
| Surplus | $5,880 |
| Undivided profits | $4,186 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $645 |
| Income earned, not collected on loans | $2,737 |
| Earning assets | $167 |
| Long-term assets (5+ years) | $399 |
| Average Assets, year-to-date | $95,796 |
| Average Assets, quarterly | $12,927 |
| Volatile liabilities | $108,469 |
| Insider loans | $108,492 |
| FHLB advances | $89,822 |
| Loans and leases held for sale | $108,724 |
| Unused loan commitments | $52 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $10,102 |
| Total risk weighted assets | $52 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $13,756 |
| Derivatives | $905 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,033 |
| Total interest expense | $825 |
| Net interest income | $4,208 |
| Provision for loan and lease losses | $480 |
| Total noninterest income | $1,187 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $407 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $780 |
| Total noninterest expense | $3,550 |
| Salaries and employee benefits | $1,776 |
| Premises and equipment expense | $656 |
| Additional noninterest expense | $1,118 |
| Pre-tax net operating income | $1,365 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $1,363 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,363 |
| Net charge-offs | $0 |
| Cash dividends | $1,363 |
| Sale, conversion, retirement of capital stock, net | $618 |
| Net operating income | $588 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.16% |
| Cost of funding earning assets | 0.85% |
| Net interest margin | 4.32% |
| Noninterest income to earning assets | 1.22% |
| Noninterest expense to earning assets | 3.64% |
| Net operating income to assets | 1.26% |
| Return on assets (ROA) | 1.26% |
| Pretax return on assets | 1.26% |
| Return on equity (ROE) | 13.74% |
| Retained earnings to average equity (YTD only) | 7.81% |
| Net charge-offs to loans | 0.73% |
| Credit loss provision to net charge-offs | 77.67% |
| Efficiency ratio | 2.99% |
| Assets per employee | $65,802 |
| Cash dividends to net income (YTD only) | 3.32% |
| Condition Ratios (%) | |
| Loss allowance to loans | 43.14% |
| Loss allowance to noncurrent loans | 1.19% |
| Noncurrent assets plus other real estate owned to assets | 36.83% |
| Noncurrent loans to loans | 3.63% |
| Net loans and leases to deposits | 3.22% |
| Net loans and leases to core deposits | 90.64% |
| Equity capital to assets | 94.01% |
| Core capital (leverage) ratio | 9.58% |
| Tier 1 risk-based capital ratio | 9.29% |
| Total risk-based capital ratio | 11.25% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $108,469 |
| Average equity | $9,918 |
| Average loans | $97,487 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 1048 | Security Bank Usa | 1025 Paul Bunyan Drive, N.W., Bemidji, MN 56601 | Febuary 07, 1910 | Full Service Brick and Mortar |  |
| 1 | 189900 | Detached Facility | 104-106 Fourth Street, Bemidji, MN 56601 | December 22, 1975 | Limited Service Facility |  |
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