Security State Bank of Fergus Falls in Fergus Falls, Minnesota (MN)
| Security State Bank of Fergus Falls | |
|---|---|
| General | FDIC Certificate #: 17733 Status: Active Federal Reserve ID: 942258 Bank Holding Company (Regulatory Top Holder): Fergus Falls Bancshares, Inc. (RSSDID: 1125414, Location: Fergus Falls, MN) Date Established: April 01, 1957 WWW: http://www.ssbfergus.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) OTS Docket #: 10312 FDIC's unique #: 11690 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: April 01, 1957 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: 128 Washington Avenue, East, Fergus Falls, MN 56537 County: Otter Tail Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Fergus Falls, MN (#22260) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $144.5 mil Equity capital: $12.3 mil Deposits held in domestic offices: $115.8 mil Return on assets (ROA): 0.82% ($1.2 mil) Quarterly return on assets: 0.98% ($1.4 mil) Return on Equity (ROE): 9.96% ($1.2 mil) Quarterly return on equity: 11.46% ($1.4 mil) Net income: $1.2 mil Quarterly Net income: $0.4 mil Pretax return on assets: 0.82% ($1,184.8 mil) Quarterly Pretax return on assets: 0.98% ($1,416.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 25 |
| Total assets | $144,492 |
| Cash and due from depository institutions | $15,651 |
| Interest-bearing balances | $12,259 |
| Securities | $29,766 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $95,199 |
| Loan loss allowance | $1,003 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $929 |
| Other real estate owned | $545 |
| Goodwill and other intangibles | $0 |
| All other assets | $2,402 |
| Life insurance assets | $144,492 |
| Total liabilities and capital | $132,170 |
| Total liabilities | $115,778 |
| Total deposits | $97,547 |
| Interest-bearing deposits | $115,778 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $16,128 |
| Other borrowed funds | $0 |
| Subordinated debt | $264 |
| All other liabilities | $12,322 |
| Total equity capital | $12,322 |
| Total bank equity capital | $12,322 |
| Perpetual preferred stock | $0 |
| Common stock | $216 |
| Surplus | $8,284 |
| Undivided profits | $3,822 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $899 |
| Income earned, not collected on loans | $1,351 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,079 |
| Average Assets, year-to-date | $137,224 |
| Average Assets, quarterly | $43,862 |
| Volatile liabilities | $142,633 |
| Insider loans | $143,967 |
| FHLB advances | $107,541 |
| Loans and leases held for sale | $142,717 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $12,562 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $34,161 |
| Derivatives | $163 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,885 |
| Total interest expense | $1,581 |
| Net interest income | $4,304 |
| Provision for loan and lease losses | $932 |
| Total noninterest income | $298 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $114 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $184 |
| Total noninterest expense | $2,494 |
| Salaries and employee benefits | $1,592 |
| Premises and equipment expense | $193 |
| Additional noninterest expense | $709 |
| Pre-tax net operating income | $1,176 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $1,174 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,174 |
| Net charge-offs | $0 |
| Cash dividends | $1,174 |
| Sale, conversion, retirement of capital stock, net | $420 |
| Net operating income | $260 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.31% |
| Cost of funding earning assets | 1.16% |
| Net interest margin | 3.15% |
| Noninterest income to earning assets | 0.22% |
| Noninterest expense to earning assets | 1.83% |
| Net operating income to assets | 0.82% |
| Return on assets (ROA) | 0.82% |
| Pretax return on assets | 0.82% |
| Return on equity (ROE) | 9.96% |
| Retained earnings to average equity (YTD only) | 7.76% |
| Net charge-offs to loans | 0.45% |
| Credit loss provision to net charge-offs | 221.90% |
| Efficiency ratio | 5.02% |
| Assets per employee | $54,194 |
| Cash dividends to net income (YTD only) | 5.78% |
| Condition Ratios (%) | |
| Loss allowance to loans | 22.15% |
| Loss allowance to noncurrent loans | 1.04% |
| Noncurrent assets plus other real estate owned to assets | 74.24% |
| Noncurrent loans to loans | 1.31% |
| Net loans and leases to deposits | 1.40% |
| Net loans and leases to core deposits | 82.23% |
| Equity capital to assets | 100.76% |
| Core capital (leverage) ratio | 8.53% |
| Tier 1 risk-based capital ratio | 8.80% |
| Total risk-based capital ratio | 11.68% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $142,633 |
| Average equity | $11,782 |
| Average loans | $136,590 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 11690 | Security State Bank Of Fergus Falls | 128 Washington Avenue, East, Fergus Falls, MN 56537 | April 01, 1957 | Full Service Brick and Mortar |  |
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