State Bank of Danvers in Danvers, Minnesota (MN)
| State Bank of Danvers | |
|---|---|
| General | FDIC Certificate #: 1401 Status: Active Federal Reserve ID: 283157 Bank Holding Company (Regulatory Top Holder): West 12 Bancorporation, Inc. (RSSDID: 3042841, Location: Danvers, MN) Date Established: July 09, 1902 WWW: http://www.sbdanvers.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 923 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 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012 |
| Location | Address: One Bank Plaza, Danvers, MN 56231 County: Swift Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $43.0 mil Equity capital: $5.3 mil Deposits held in domestic offices: $36.4 mil Return on assets (ROA): 1.56% ($0.7 mil) Quarterly return on assets: 1.39% ($0.6 mil) Return on Equity (ROE): 12.81% ($0.6 mil) Quarterly return on equity: 11.08% ($0.6 mil) Net income: $0.6 mil Quarterly Net income: $0.1 mil Pretax return on assets: 1.56% ($671.0 mil) Quarterly Pretax return on assets: 1.39% ($597.8 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 9 |
| Total assets | $43,010 |
| Cash and due from depository institutions | $2,055 |
| Interest-bearing balances | $1,260 |
| Securities | $14,792 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $24,279 |
| Loan loss allowance | $463 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $528 |
| Other real estate owned | $134 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,222 |
| Life insurance assets | $43,010 |
| Total liabilities and capital | $37,755 |
| Total liabilities | $36,402 |
| Total deposits | $26,582 |
| Interest-bearing deposits | $36,402 |
| Deposits held in domestic offices | $94 |
| % insured (estimated) | 225.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $700 |
| Other borrowed funds | $0 |
| Subordinated debt | $428 |
| All other liabilities | $5,255 |
| Total equity capital | $5,255 |
| Total bank equity capital | $5,255 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $3,400 |
| Undivided profits | $1,755 |
| 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 | $46 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $415 |
| Average Assets, year-to-date | $40,331 |
| Average Assets, quarterly | $2,354 |
| Volatile liabilities | $41,074 |
| Insider loans | $41,987 |
| FHLB advances | $29,210 |
| Loans and leases held for sale | $43,321 |
| Unused loan commitments | $560 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $5,000 |
| Total risk weighted assets | $560 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $10,750 |
| Derivatives | $102 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,756 |
| Total interest expense | $201 |
| Net interest income | $1,555 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $174 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $43 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $131 |
| Total noninterest expense | $1,088 |
| Salaries and employee benefits | $638 |
| Premises and equipment expense | $159 |
| Additional noninterest expense | $291 |
| Pre-tax net operating income | $641 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $641 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $641 |
| Net charge-offs | $0 |
| Cash dividends | $641 |
| Sale, conversion, retirement of capital stock, net | $24 |
| Net operating income | $266 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.60% |
| Cost of funding earning assets | 0.53% |
| Net interest margin | 4.07% |
| Noninterest income to earning assets | 0.46% |
| Noninterest expense to earning assets | 2.85% |
| Net operating income to assets | 1.56% |
| Return on assets (ROA) | 1.56% |
| Pretax return on assets | 1.56% |
| Return on equity (ROE) | 12.81% |
| Retained earnings to average equity (YTD only) | 7.49% |
| Net charge-offs to loans | 0.10% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 26.71% |
| Assets per employee | $62,927 |
| Cash dividends to net income (YTD only) | 4.78% |
| Condition Ratios (%) | |
| Loss allowance to loans | 41.50% |
| Loss allowance to noncurrent loans | 1.87% |
| Noncurrent assets plus other real estate owned to assets | 1006.52% |
| Noncurrent loans to loans | 0.53% |
| Net loans and leases to deposits | 0.19% |
| Net loans and leases to core deposits | 66.70% |
| Equity capital to assets | 66.70% |
| Core capital (leverage) ratio | 12.22% |
| Tier 1 risk-based capital ratio | 11.54% |
| Total risk-based capital ratio | 17.12% |
| Memoranda | |
| Average assets | $18 |
| Average earning assets | $41,074 |
| Average equity | $5,006 |
| Average loans | $38,211 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 923 | State Bank Of Danvers | One Bank Plaza, Danvers, MN 56231 | July 09, 1902 | Full Service Brick and Mortar |  |
| 1 | 189468 | Benson Branch | 2010 Minnesota Avenue, Benson, MN 56215 | July 06, 1999 | Full Service Brick and Mortar |  |
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