State Bank of Clarks Grove in Albert Lea, Minnesota (MN)
| State Bank of Clarks Grove | |
|---|---|
| General | FDIC Certificate #: 8829 Status: Active Federal Reserve ID: 372257 Date Established: August 21, 1903 WWW: http://www.statebankcg.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 #: 5624 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: No Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: July 16, 2010 Last Structure Change Process Date: July 29, 2010 Last Data Update: July 29, 2010 Data Source Date: April 05, 2012 |
| Location | Address: 2401 Bridge Avenue, Albert Lea, MN 56007 County: Freeborn 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 Core Based Statistical Area (CBSA): Albert Lea, MN (#10660) CBSA Micro Statistical Area: Yes |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $19.6 mil Equity capital: $2.6 mil Deposits held in domestic offices: $17.0 mil Return on assets (ROA): 0.07% ($0.0 mil) Quarterly return on assets: -1.47% (-$0.3 mil) Return on Equity (ROE): 0.53% ($0.0 mil) Quarterly return on equity: -10.80% (-$0.3 mil) Net income: $0.0 mil Quarterly Net income: -$0.1 mil Pretax return on assets: 0.07% ($13.7 mil) Quarterly Pretax return on assets: -1.47% (-$288.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 6 |
| Total assets | $19,633 |
| Cash and due from depository institutions | $7,626 |
| Interest-bearing balances | $6,035 |
| Securities | $1,474 |
| Federal funds sold & reverse repurchase agreements | $1,000 |
| Net loans & leases | $8,257 |
| Loan loss allowance | $170 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $970 |
| Other real estate owned | $121 |
| Goodwill and other intangibles | $0 |
| All other assets | $185 |
| Life insurance assets | $19,633 |
| Total liabilities and capital | $17,039 |
| Total liabilities | $17,023 |
| Total deposits | $11,358 |
| Interest-bearing deposits | $17,023 |
| Deposits held in domestic offices | $96 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $16 |
| All other liabilities | $2,594 |
| Total equity capital | $2,594 |
| Total bank equity capital | $2,594 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $1,450 |
| Undivided profits | $1,094 |
| 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 | $47 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $120 |
| Average Assets, year-to-date | $16,766 |
| Average Assets, quarterly | $3,115 |
| Volatile liabilities | $18,777 |
| Insider loans | $19,278 |
| FHLB advances | $11,804 |
| Loans and leases held for sale | $21,537 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $2,589 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $0 |
| Derivatives | $77 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $649 |
| Total interest expense | $49 |
| Net interest income | $600 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $67 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $56 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $11 |
| Total noninterest expense | $653 |
| Salaries and employee benefits | $337 |
| Premises and equipment expense | $135 |
| Additional noninterest expense | $181 |
| Pre-tax net operating income | $14 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $14 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $14 |
| Net charge-offs | $0 |
| Cash dividends | $14 |
| Sale, conversion, retirement of capital stock, net | $5 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.03% |
| Cost of funding earning assets | 0.30% |
| Net interest margin | 3.73% |
| Noninterest income to earning assets | 0.42% |
| Noninterest expense to earning assets | 4.06% |
| Net operating income to assets | 0.07% |
| Return on assets (ROA) | 0.07% |
| Pretax return on assets | 0.07% |
| Return on equity (ROE) | 0.53% |
| Retained earnings to average equity (YTD only) | 0.53% |
| Net charge-offs to loans | 0.06% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 2.80% |
| Assets per employee | $97,901 |
| Cash dividends to net income (YTD only) | 3.27% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.02% |
| Noncurrent assets plus other real estate owned to assets | 361.70% |
| Noncurrent loans to loans | 0.86% |
| Net loans and leases to deposits | 0.56% |
| Net loans and leases to core deposits | 48.50% |
| Equity capital to assets | 48.50% |
| Core capital (leverage) ratio | 13.21% |
| Tier 1 risk-based capital ratio | 12.02% |
| Total risk-based capital ratio | 21.93% |
| Memoranda | |
| Average assets | $23 |
| Average earning assets | $18,777 |
| Average equity | $2,626 |
| Average loans | $16,086 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5624 | State Bank Of Clarks Grove | 2401 Bridge Avenue, Albert Lea, MN 56007 | August 21, 1903 | Full Service Brick and Mortar |  |
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