Security State Bank of Howard Lake in Howard Lake, Minnesota (MN)
| Security State Bank of Howard Lake | |
|---|---|
| General | FDIC Certificate #: 10206 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution: Citizens Alliance Bank (#1402) Federal Reserve ID: 1012859 Date Established: September 15, 1915 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 15572 FDIC's unique #: 6545 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: October 15, 2011 Last Structure Change Process Date: November 23, 2011 Last Data Update: November 23, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 900 Sixth Street, Howard Lake, MN 55349 County: Wright 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) |
| Financial Summary | Total assets: $79.4 mil |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 16 |
| Total assets | $77,345 |
| Cash and due from depository institutions | $10,208 |
| Interest-bearing balances | $7,286 |
| Securities | $14,158 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $46,887 |
| Loan loss allowance | $955 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,286 |
| Other real estate owned | $405 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,401 |
| Life insurance assets | $121 |
| Total liabilities and capital | $77,345 |
| Total liabilities | $69,730 |
| Total deposits | $63,600 |
| Interest-bearing deposits | $49,970 |
| Deposits held in domestic offices | $63,600 |
| % insured (estimated) | 89.04% |
| Federal funds purchased & repurchase agreements | $937 |
| Trading liabilities | $0 |
| Other borrowed funds | $5,106 |
| Subordinated debt | $0 |
| All other liabilities | $87 |
| Total equity capital | $7,615 |
| Total bank equity capital | $7,615 |
| Perpetual preferred stock | $7,615 |
| Common stock | $0 |
| Surplus | $50 |
| Undivided profits | $6,469 |
| Memoranda | |
| Noncurrent loans and leases | $1,096 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $7,193 |
| Income earned, not collected on loans | $0 |
| Earning assets | $1,727 |
| Long-term assets (5+ years) | $0 |
| Average Assets, year-to-date | $347 |
| Average Assets, quarterly | $68,331 |
| Volatile liabilities | $12,573 |
| Insider loans | $78,926 |
| FHLB advances | $79,099 |
| Loans and leases held for sale | $12,066 |
| Unused loan commitments | $92 |
| Tier 1 (core) risk-based capital | $5,106 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $0 |
| Total unused commitments | $7,193 |
| Restructured Loans and leases | $0 |
| Derivatives | $654 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $3,690 |
| Total interest expense | $1,098 |
| Net interest income | $2,592 |
| Provision for loan and lease losses | $54 |
| Total noninterest income | $740 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $357 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $383 |
| Total noninterest expense | $2,065 |
| Salaries and employee benefits | $753 |
| Premises and equipment expense | $517 |
| Additional noninterest expense | $795 |
| Pre-tax net operating income | $1,213 |
| Securities gains (losses) | $9 |
| Applicable income taxes | $4 |
| Income before extraordinary items | $1,218 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,218 |
| Net charge-offs | $0 |
| Cash dividends | $1,218 |
| Sale, conversion, retirement of capital stock, net | $703 |
| Net operating income | $668 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.20% |
| Cost of funding earning assets | 1.55% |
| Net interest margin | 3.65% |
| Noninterest income to earning assets | 1.04% |
| Noninterest expense to earning assets | 2.91% |
| Net operating income to assets | 1.53% |
| Return on assets (ROA) | 1.54% |
| Pretax return on assets | 1.55% |
| Return on equity (ROE) | 15.61% |
| Retained earnings to average equity (YTD only) | 7.05% |
| Net charge-offs to loans | 1.38% |
| Credit loss provision to net charge-offs | 7.68% |
| Efficiency ratio | 1.80% |
| Assets per employee | $61,975 |
| Cash dividends to net income (YTD only) | 4.83% |
| Condition Ratios (%) | |
| Loss allowance to loans | 54.84% |
| Loss allowance to noncurrent loans | 2.00% |
| Noncurrent assets plus other real estate owned to assets | 55.30% |
| Noncurrent loans to loans | 2.76% |
| Net loans and leases to deposits | 3.61% |
| Net loans and leases to core deposits | 73.72% |
| Equity capital to assets | 88.02% |
| Core capital (leverage) ratio | 9.85% |
| Tier 1 risk-based capital ratio | 9.16% |
| Total risk-based capital ratio | 14.17% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $78,926 |
| Average equity | $7,804 |
| Average loans | $70,969 |
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