Security Bank Waconia in Waconia, Minnesota (MN)
| Security Bank Waconia | |
|---|---|
| General | FDIC Certificate #: 24173 Status: Active Federal Reserve ID: 190554 Bank Holding Company (Regulatory Top Holder): Security Bancshares Co. (RSSDID: 1124789, Location: Glencoe, MN) Date Established: December 20, 1982 WWW: http://www.security-banks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Domestic: 6, Interstate: No) FDIC's unique #: 16831 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: December 20, 1982 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: 539 South Elm Street, Waconia, MN 55387 County: Carver 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: $170.8 mil Equity capital: $15.9 mil Deposits held in domestic offices: $154.8 mil Return on assets (ROA): 0.72% ($1.2 mil) Quarterly return on assets: 0.40% ($0.7 mil) Return on Equity (ROE): 7.98% ($1.3 mil) Quarterly return on equity: 4.33% ($0.7 mil) Net income: $1.2 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.72% ($1,229.9 mil) Quarterly Pretax return on assets: 0.40% ($683.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 32 |
| Total assets | $170,825 |
| Cash and due from depository institutions | $21,908 |
| Interest-bearing balances | $16,500 |
| Securities | $40,041 |
| Federal funds sold & reverse repurchase agreements | $1,400 |
| Net loans & leases | $97,696 |
| Loan loss allowance | $2,431 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,640 |
| Other real estate owned | $5,133 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,007 |
| Life insurance assets | $170,825 |
| Total liabilities and capital | $154,898 |
| Total liabilities | $154,754 |
| Total deposits | $134,271 |
| Interest-bearing deposits | $154,754 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $144 |
| All other liabilities | $15,927 |
| Total equity capital | $15,927 |
| Total bank equity capital | $15,927 |
| Perpetual preferred stock | $0 |
| Common stock | $730 |
| Surplus | $10,770 |
| Undivided profits | $4,427 |
| 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 | $592 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $595 |
| Average Assets, year-to-date | $155,637 |
| Average Assets, quarterly | $20,654 |
| Volatile liabilities | $170,942 |
| Insider loans | $171,736 |
| FHLB advances | $120,807 |
| Loans and leases held for sale | $173,819 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $15,552 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $12,502 |
| Derivatives | $348 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $7,968 |
| Total interest expense | $1,586 |
| Net interest income | $6,382 |
| Provision for loan and lease losses | $1,535 |
| Total noninterest income | $717 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $213 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $504 |
| Total noninterest expense | $4,364 |
| Salaries and employee benefits | $1,718 |
| Premises and equipment expense | $919 |
| Additional noninterest expense | $1,727 |
| Pre-tax net operating income | $1,200 |
| Securities gains (losses) | $33 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $1,231 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,231 |
| Net charge-offs | $0 |
| Cash dividends | $1,231 |
| Sale, conversion, retirement of capital stock, net | $2,687 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.05% |
| Cost of funding earning assets | 1.00% |
| Net interest margin | 4.04% |
| Noninterest income to earning assets | 0.45% |
| Noninterest expense to earning assets | 2.76% |
| Net operating income to assets | 0.70% |
| Return on assets (ROA) | 0.72% |
| Pretax return on assets | 0.72% |
| Return on equity (ROE) | 7.98% |
| Retained earnings to average equity (YTD only) | 7.98% |
| Net charge-offs to loans | 2.40% |
| Credit loss provision to net charge-offs | 57.13% |
| Efficiency ratio | 1.02% |
| Assets per employee | $61,065 |
| Cash dividends to net income (YTD only) | 5.34% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.43% |
| Noncurrent assets plus other real estate owned to assets | 410.64% |
| Noncurrent loans to loans | 3.35% |
| Net loans and leases to deposits | 0.59% |
| Net loans and leases to core deposits | 63.13% |
| Equity capital to assets | 64.28% |
| Core capital (leverage) ratio | 9.32% |
| Tier 1 risk-based capital ratio | 8.95% |
| Total risk-based capital ratio | 12.87% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $170,942 |
| Average equity | $15,433 |
| Average loans | $157,890 |
| 6 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 16831 | Security Bank Waconia | 539 South Elm Street, Waconia, MN 55387 | December 20, 1982 | Full Service Brick and Mortar |  |
| 1 | 257009 | Chaska Branch | 1575 White Oak Drive, Chaska, MN 55318 | April 01, 1992 | Full Service Brick and Mortar |  |
| 2 | 222760 | Detached Facility | 317 Ash Avenue North, Mayer, MN 55360 | Febuary 01, 1978 | Limited Service Facility | |
| 3 | 222761 | New Germany Branch | 270 Broadway Street East, New Germany, MN 55367 | June 18, 1990 | Full Service Brick and Mortar | |
| 4 | 418734 | Instore Branch | 835 Market Place, Waconia, MN 55387 | April 16, 2003 | Full Service Retail | |
| 5 | 459446 | Cologne Branch | 1110 Village Parkway, Cologne, MN 55322 | October 23, 2006 | Full Service Brick and Mortar | |
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