Security State Bank of Kenyon in Kenyon, Minnesota (MN)
| Security State Bank of Kenyon | |
|---|---|
| General | FDIC Certificate #: 15597 Status: Active Federal Reserve ID: 984454 Bank Holding Company (Regulatory Top Holder): Ellingson Corporation (RSSDID: 1121881, Location: Kenyon, MN) Date Established: July 23, 1934 WWW: http://www.ssbkenyon.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 #: 11201 FDIC's unique #: 9883 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 21, 1938 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: 602 Second Street, Kenyon, MN 55946 County: Goodhue 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 Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Red Wing, MN (#39860) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $53.2 mil Equity capital: $4.8 mil Deposits held in domestic offices: $44.4 mil Return on assets (ROA): 0.49% ($0.3 mil) Quarterly return on assets: 0.79% ($0.4 mil) Return on Equity (ROE): 5.70% ($0.3 mil) Quarterly return on equity: 9.00% ($0.5 mil) Net income: $0.3 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.49% ($260.7 mil) Quarterly Pretax return on assets: 0.79% ($420.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 16 |
| Total assets | $53,214 |
| Cash and due from depository institutions | $4,984 |
| Interest-bearing balances | $1,019 |
| Securities | $5,893 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $38,104 |
| Loan loss allowance | $1,402 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,086 |
| Other real estate owned | $184 |
| Goodwill and other intangibles | $0 |
| All other assets | $2,963 |
| Life insurance assets | $53,214 |
| Total liabilities and capital | $48,454 |
| Total liabilities | $44,388 |
| Total deposits | $35,515 |
| Interest-bearing deposits | $44,388 |
| Deposits held in domestic offices | $97 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $3,575 |
| Other borrowed funds | $0 |
| Subordinated debt | $491 |
| All other liabilities | $4,760 |
| Total equity capital | $4,760 |
| Total bank equity capital | $4,760 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $5,150 |
| Undivided profits | $-490 |
| 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 | $1,821 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $619 |
| Average Assets, year-to-date | $45,016 |
| Average Assets, quarterly | $2,759 |
| Volatile liabilities | $53,045 |
| Insider loans | $53,407 |
| FHLB advances | $41,242 |
| Loans and leases held for sale | $54,145 |
| Unused loan commitments | $2,021 |
| Tier 1 (core) risk-based capital | $2,021 |
| Tier 2 risk-based capital | $4,741 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $4,697 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,533 |
| Total interest expense | $522 |
| Net interest income | $2,011 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $182 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $88 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $94 |
| Total noninterest expense | $1,931 |
| Salaries and employee benefits | $1,149 |
| Premises and equipment expense | $210 |
| Additional noninterest expense | $572 |
| Pre-tax net operating income | $262 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $1 |
| Income before extraordinary items | $261 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $261 |
| Net charge-offs | $0 |
| Cash dividends | $261 |
| Sale, conversion, retirement of capital stock, net | -$42 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.88% |
| Cost of funding earning assets | 1.21% |
| Net interest margin | 4.67% |
| Noninterest income to earning assets | 0.42% |
| Noninterest expense to earning assets | 4.49% |
| Net operating income to assets | 0.49% |
| Return on assets (ROA) | 0.49% |
| Pretax return on assets | 0.49% |
| Return on equity (ROE) | 5.70% |
| Retained earnings to average equity (YTD only) | 5.70% |
| Net charge-offs to loans | -0.11% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 0.00% |
| Assets per employee | $88,053 |
| Cash dividends to net income (YTD only) | 3.33% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 3.55% |
| Noncurrent assets plus other real estate owned to assets | 76.99% |
| Noncurrent loans to loans | 3.77% |
| Net loans and leases to deposits | 4.61% |
| Net loans and leases to core deposits | 85.84% |
| Equity capital to assets | 86.88% |
| Core capital (leverage) ratio | 8.95% |
| Tier 1 risk-based capital ratio | 8.76% |
| Total risk-based capital ratio | 11.50% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $53,045 |
| Average equity | $4,580 |
| Average loans | $43,047 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 9883 | Security State Bank Of Kenyon | 602 Second Street, Kenyon, MN 55946 | July 23, 1934 | Full Service Brick and Mortar |  |
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