State Bank of Bird Island in Bird Island, Minnesota (MN)
| State Bank of Bird Island | |
|---|---|
| General | FDIC Certificate #: 8184 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution: Frandsen Bank & Trust (#1399) Federal Reserve ID: 395256 Bank Holding Company (Regulatory Top Holder): Frandsen Financial Corporation (RSSDID: 1128358, Location: Arden Hills, MN) Date Established: January 01, 1908 WWW: http://www.birdislandbank.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 #: 5210 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: January 01, 1934 Last Structure Change Effective Date: March 17, 2012 Last Structure Change Process Date: March 26, 2012 Last Data Update: March 26, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 205 South Main Street, Bird Island, MN 55310 County: Renville Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| Financial Summary | Total assets: $44.8 mil Equity capital: $3.9 mil Deposits held in domestic offices: $38.8 mil Return on assets (ROA): 0.70% ($0.3 mil) Quarterly return on assets: 0.50% ($0.2 mil) Return on Equity (ROE): 7.16% ($0.3 mil) Quarterly return on equity: 5.34% ($0.2 mil) Net income: $0.3 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.82% ($367.4 mil) Quarterly Pretax return on assets: 0.50% ($224.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 9 |
| Total assets | $44,806 |
| Cash and due from depository institutions | $6,218 |
| Interest-bearing balances | $2,300 |
| Securities | $21,126 |
| Federal funds sold & reverse repurchase agreements | $612 |
| Net loans & leases | $14,790 |
| Loan loss allowance | $61 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $978 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $738 |
| All other assets | $344 |
| Life insurance assets | $44,806 |
| Total liabilities and capital | $40,879 |
| Total liabilities | $38,803 |
| Total deposits | $23,623 |
| Interest-bearing deposits | $38,803 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 1000.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $76 |
| All other liabilities | $3,927 |
| Total equity capital | $3,927 |
| Total bank equity capital | $3,927 |
| Perpetual preferred stock | $0 |
| Common stock | $180 |
| Surplus | $3,346 |
| Undivided profits | $401 |
| 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 | $22 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $243 |
| Average Assets, year-to-date | $38,828 |
| Average Assets, quarterly | $16,884 |
| Volatile liabilities | $40,511 |
| Insider loans | $41,993 |
| FHLB advances | $21,723 |
| Loans and leases held for sale | $39,023 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $3,139 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $9,494 |
| Derivatives | $24 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,303 |
| Total interest expense | $64 |
| Net interest income | $1,239 |
| Provision for loan and lease losses | $60 |
| Total noninterest income | $115 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $73 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $42 |
| Total noninterest expense | $999 |
| Salaries and employee benefits | $531 |
| Premises and equipment expense | $99 |
| Additional noninterest expense | $369 |
| Pre-tax net operating income | $295 |
| Securities gains (losses) | $37 |
| Applicable income taxes | $47 |
| Income before extraordinary items | $285 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $285 |
| Net charge-offs | $0 |
| Cash dividends | $285 |
| Sale, conversion, retirement of capital stock, net | $3 |
| Net operating income | $713 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 3.57% |
| Cost of funding earning assets | 0.18% |
| Net interest margin | 3.40% |
| Noninterest income to earning assets | 0.32% |
| Noninterest expense to earning assets | 2.74% |
| Net operating income to assets | 0.62% |
| Return on assets (ROA) | 0.70% |
| Pretax return on assets | 0.82% |
| Return on equity (ROE) | 7.16% |
| Retained earnings to average equity (YTD only) | -10.76% |
| Net charge-offs to loans | 0.02% |
| Credit loss provision to net charge-offs | 2000.00% |
| Efficiency ratio | 118.33% |
| Assets per employee | $70,089 |
| Cash dividends to net income (YTD only) | 4.98% |
| Condition Ratios (%) | |
| Loss allowance to loans | 250.18% |
| Loss allowance to noncurrent loans | 0.41% |
| Noncurrent assets plus other real estate owned to assets | 277.27% |
| Noncurrent loans to loans | 0.05% |
| Net loans and leases to deposits | 0.15% |
| Net loans and leases to core deposits | 38.12% |
| Equity capital to assets | 38.12% |
| Core capital (leverage) ratio | 8.76% |
| Tier 1 risk-based capital ratio | 8.04% |
| Total risk-based capital ratio | 14.45% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $40,511 |
| Average equity | $3,979 |
| Average loans | $36,485 |
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