Security State Bank of Marine in Marine On St. Croix, Minnesota (MN)
| Security State Bank of Marine | |
|---|---|
| General | FDIC Certificate #: 10163 Status: Active Federal Reserve ID: 990053 Bank Holding Company (Regulatory Top Holder): Marine Bancshares, Inc. (RSSDID: 2734028, Location: Marine On Saint Croix, MN) Date Established: May 12, 1919 WWW: http://www.themarinebank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Domestic: 4, Interstate: No) OTS Docket #: 12355 FDIC's unique #: 6504 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: All Other Specialization < 1 Billion 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: 120 Judd Street, Marine On St. Croix, MN 55047 County: Washington 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: $110.3 mil Equity capital: $11.3 mil Deposits held in domestic offices: $98.8 mil Return on assets (ROA): 0.62% ($0.7 mil) Quarterly return on assets: 0.62% ($0.7 mil) Return on Equity (ROE): 5.92% ($0.7 mil) Quarterly return on equity: 6.02% ($0.7 mil) Net income: $0.7 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.93% ($1,025.5 mil) Quarterly Pretax return on assets: 0.71% ($782.9 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 21 |
| Total assets | $110,273 |
| Cash and due from depository institutions | $24,525 |
| Interest-bearing balances | $22,671 |
| Securities | $8,795 |
| Federal funds sold & reverse repurchase agreements | $3,022 |
| Net loans & leases | $71,105 |
| Loan loss allowance | $1,204 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,159 |
| Other real estate owned | $710 |
| Goodwill and other intangibles | $0 |
| All other assets | $957 |
| Life insurance assets | $110,273 |
| Total liabilities and capital | $98,971 |
| Total liabilities | $98,791 |
| Total deposits | $82,418 |
| Interest-bearing deposits | $98,791 |
| 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 | $180 |
| All other liabilities | $11,302 |
| Total equity capital | $11,302 |
| Total bank equity capital | $11,302 |
| Perpetual preferred stock | $0 |
| Common stock | $150 |
| Surplus | $6,850 |
| Undivided profits | $4,302 |
| 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 | $593 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $347 |
| Average Assets, year-to-date | $105,593 |
| Average Assets, quarterly | $15,864 |
| Volatile liabilities | $106,249 |
| Insider loans | $108,201 |
| FHLB advances | $64,118 |
| Loans and leases held for sale | $108,593 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $11,277 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $7,307 |
| Derivatives | $350 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $4,935 |
| Total interest expense | $994 |
| Net interest income | $3,941 |
| Provision for loan and lease losses | $520 |
| Total noninterest income | $674 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $219 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $455 |
| Total noninterest expense | $3,109 |
| Salaries and employee benefits | $1,955 |
| Premises and equipment expense | $434 |
| Additional noninterest expense | $720 |
| Pre-tax net operating income | $986 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $330 |
| Income before extraordinary items | $656 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $656 |
| Net charge-offs | $0 |
| Cash dividends | $656 |
| Sale, conversion, retirement of capital stock, net | $541 |
| Net operating income | $660 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.86% |
| Cost of funding earning assets | 0.98% |
| Net interest margin | 3.88% |
| Noninterest income to earning assets | 0.66% |
| Noninterest expense to earning assets | 3.06% |
| Net operating income to assets | 0.62% |
| Return on assets (ROA) | 0.62% |
| Pretax return on assets | 0.93% |
| Return on equity (ROE) | 5.92% |
| Retained earnings to average equity (YTD only) | -0.04% |
| Net charge-offs to loans | 0.75% |
| Credit loss provision to net charge-offs | 96.12% |
| Efficiency ratio | 2.78% |
| Assets per employee | $67,367 |
| Cash dividends to net income (YTD only) | 5.25% |
| Condition Ratios (%) | |
| Loss allowance to loans | 100.61% |
| Loss allowance to noncurrent loans | 1.67% |
| Noncurrent assets plus other real estate owned to assets | 203.04% |
| Noncurrent loans to loans | 1.18% |
| Net loans and leases to deposits | 0.82% |
| Net loans and leases to core deposits | 71.98% |
| Equity capital to assets | 76.95% |
| Core capital (leverage) ratio | 10.25% |
| Tier 1 risk-based capital ratio | 10.38% |
| Total risk-based capital ratio | 17.59% |
| Memoranda | |
| Average assets | $19 |
| Average earning assets | $106,249 |
| Average equity | $11,089 |
| Average loans | $101,581 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6504 | Security State Bank Of Marine | 120 Judd Street, Marine On St. Croix, MN 55047 | May 12, 1919 | Full Service Brick and Mortar |  |
| 1 | 221977 | Scandia Branch | 21190 Ozark Avenue North, Scandia, MN 55073 | August 17, 1992 | Full Service Brick and Mortar |  |
| 2 | 360038 | Chisaago Lakes Branch | 30626 Lincoln Road, Lindstrom, MN 55045 | November 20, 2000 | Full Service Brick and Mortar | |
| 3 | 465502 | Forest Lake Branch | 21450 Forest Blvd, Forest Lake, MN 55025 | April 30, 2007 | Full Service Brick and Mortar | |
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