Security State Bank of Hibbing in Hibbing, Minnesota (MN)
| Security State Bank of Hibbing | |
|---|---|
| General | FDIC Certificate #: 10175 Status: Active Federal Reserve ID: 950356 Bank Holding Company (Regulatory Top Holder): Security Financial Services, Inc. (RSSDID: 1128817, Location: Hibbing, MN) Date Established: Febuary 11, 1911 WWW: http://www.ssbhibbing.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) FDIC's unique #: 6516 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: No 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: 701 East Howard Street, Hibbing, MN 55746 County: St. Louis 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): Duluth-Superior, MN-WI (#2240) Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260) CBSA Metro Statistical Area: Duluth, MN-WI (#20260) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $98.9 mil Equity capital: $9.5 mil Deposits held in domestic offices: $87.1 mil Return on assets (ROA): 0.61% ($0.6 mil) Quarterly return on assets: 0.82% ($0.8 mil) Return on Equity (ROE): 6.12% ($0.6 mil) Quarterly return on equity: 8.47% ($0.8 mil) Net income: $0.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.77% ($761.8 mil) Quarterly Pretax return on assets: 1.09% ($1,078.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 22 |
| Total assets | $98,938 |
| Cash and due from depository institutions | $16,034 |
| Interest-bearing balances | $11,298 |
| Securities | $24,156 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $48,178 |
| Loan loss allowance | $1,947 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,929 |
| Other real estate owned | $3,678 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,963 |
| Life insurance assets | $98,938 |
| Total liabilities and capital | $89,399 |
| Total liabilities | $87,059 |
| Total deposits | $58,685 |
| Interest-bearing deposits | $87,059 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $2,340 |
| All other liabilities | $9,539 |
| Total equity capital | $9,539 |
| Total bank equity capital | $9,539 |
| Perpetual preferred stock | $0 |
| Common stock | $750 |
| Surplus | $7,758 |
| Undivided profits | $1,031 |
| 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 | $2,149 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $347 |
| Average Assets, year-to-date | $83,632 |
| Average Assets, quarterly | $22,440 |
| Volatile liabilities | $95,421 |
| Insider loans | $100,251 |
| FHLB advances | $62,303 |
| Loans and leases held for sale | $98,935 |
| Unused loan commitments | $2,284 |
| Tier 1 (core) risk-based capital | $2,284 |
| Tier 2 risk-based capital | $9,622 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $15,772 |
| Derivatives | $1,974 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $3,799 |
| Total interest expense | $506 |
| Net interest income | $3,293 |
| Provision for loan and lease losses | $254 |
| Total noninterest income | $990 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $200 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $790 |
| Total noninterest expense | $3,305 |
| Salaries and employee benefits | $1,409 |
| Premises and equipment expense | $346 |
| Additional noninterest expense | $1,550 |
| Pre-tax net operating income | $724 |
| Securities gains (losses) | $8 |
| Applicable income taxes | $147 |
| Income before extraordinary items | $585 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $585 |
| Net charge-offs | $0 |
| Cash dividends | $585 |
| Sale, conversion, retirement of capital stock, net | $14 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.71% |
| Cost of funding earning assets | 0.63% |
| Net interest margin | 4.08% |
| Noninterest income to earning assets | 1.23% |
| Noninterest expense to earning assets | 4.09% |
| Net operating income to assets | 0.61% |
| Return on assets (ROA) | 0.61% |
| Pretax return on assets | 0.77% |
| Return on equity (ROE) | 6.12% |
| Retained earnings to average equity (YTD only) | 6.12% |
| Net charge-offs to loans | 0.03% |
| Credit loss provision to net charge-offs | 1814.29% |
| Efficiency ratio | 69.86% |
| Assets per employee | $77,166 |
| Cash dividends to net income (YTD only) | 4.50% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 3.88% |
| Noncurrent assets plus other real estate owned to assets | 90.60% |
| Noncurrent loans to loans | 5.89% |
| Net loans and leases to deposits | 4.29% |
| Net loans and leases to core deposits | 55.34% |
| Equity capital to assets | 59.30% |
| Core capital (leverage) ratio | 9.64% |
| Tier 1 risk-based capital ratio | 9.73% |
| Total risk-based capital ratio | 15.44% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $95,421 |
| Average equity | $9,563 |
| Average loans | $80,715 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6516 | Security State Bank Of Hibbing | 701 East Howard Street, Hibbing, MN 55746 | Febuary 11, 1911 | Full Service Brick and Mortar |  |
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