State Bank of Lake Park in Lake Park, Minnesota (MN)
| State Bank of Lake Park | |
|---|---|
| General | FDIC Certificate #: 9351 Status: Active Federal Reserve ID: 912756 Bank Holding Company (Regulatory Top Holder): Lake Park Bancshares, Inc. (RSSDID: 1132793, Location: Lake Park, MN) Date Established: October 11, 1926 WWW: http://www.statebankoflakepark.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 #: 6002 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: Yes 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: June 07, 2010 Last Data Update: June 07, 2010 Data Source Date: April 05, 2012 |
| Location | Address: 2049 2nd Street, Lake Park, MN 56554 County: Becker 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 | Change in Location Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $33.7 mil Equity capital: $2.9 mil Deposits held in domestic offices: $30.7 mil Return on assets (ROA): 1.32% ($0.4 mil) Quarterly return on assets: 0.56% ($0.2 mil) Return on Equity (ROE): 15.77% ($0.5 mil) Quarterly return on equity: 6.17% ($0.2 mil) Net income: $0.4 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.32% ($444.4 mil) Quarterly Pretax return on assets: 0.56% ($188.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 11 |
| Total assets | $33,665 |
| Cash and due from depository institutions | $7,653 |
| Interest-bearing balances | $3,501 |
| Securities | $7,159 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $17,859 |
| Loan loss allowance | $173 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $462 |
| Other real estate owned | $80 |
| Goodwill and other intangibles | $0 |
| All other assets | $452 |
| Life insurance assets | $33,665 |
| Total liabilities and capital | $30,784 |
| Total liabilities | $30,703 |
| Total deposits | $25,763 |
| Interest-bearing deposits | $30,703 |
| 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 | $81 |
| All other liabilities | $2,881 |
| Total equity capital | $2,881 |
| Total bank equity capital | $2,881 |
| Perpetual preferred stock | $0 |
| Common stock | $75 |
| Surplus | $1,425 |
| Undivided profits | $1,381 |
| 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 | $455 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $246 |
| Average Assets, year-to-date | $28,519 |
| Average Assets, quarterly | $6,396 |
| Volatile liabilities | $31,309 |
| Insider loans | $32,371 |
| FHLB advances | $19,110 |
| Loans and leases held for sale | $32,225 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $2,553 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $758 |
| Derivatives | $623 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,654 |
| Total interest expense | $392 |
| Net interest income | $1,262 |
| Provision for loan and lease losses | $11 |
| Total noninterest income | $61 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $89 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$28 |
| Total noninterest expense | $946 |
| Salaries and employee benefits | $568 |
| Premises and equipment expense | $138 |
| Additional noninterest expense | $240 |
| Pre-tax net operating income | $366 |
| Securities gains (losses) | $47 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $413 |
| Extraordinary gains - net | -$1 |
| Net income attributable to bank | $412 |
| Net charge-offs | $0 |
| Cash dividends | $412 |
| Sale, conversion, retirement of capital stock, net | -$3 |
| Net operating income | $258 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 6.00% |
| Cost of funding earning assets | 1.42% |
| Net interest margin | 4.58% |
| Noninterest income to earning assets | 0.22% |
| Noninterest expense to earning assets | 3.43% |
| Net operating income to assets | 1.17% |
| Return on assets (ROA) | 1.32% |
| Pretax return on assets | 1.32% |
| Return on equity (ROE) | 15.77% |
| Retained earnings to average equity (YTD only) | 5.89% |
| Net charge-offs to loans | -0.02% |
| Credit loss provision to net charge-offs | -366.67% |
| Efficiency ratio | 0.00% |
| Assets per employee | $71,504 |
| Cash dividends to net income (YTD only) | 3.06% |
| Condition Ratios (%) | |
| Loss allowance to loans | 62.62% |
| Loss allowance to noncurrent loans | 0.96% |
| Noncurrent assets plus other real estate owned to assets | 38.02% |
| Noncurrent loans to loans | 1.59% |
| Net loans and leases to deposits | 2.52% |
| Net loans and leases to core deposits | 58.17% |
| Equity capital to assets | 58.98% |
| Core capital (leverage) ratio | 8.56% |
| Tier 1 risk-based capital ratio | 7.92% |
| Total risk-based capital ratio | 13.36% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $31,309 |
| Average equity | $2,613 |
| Average loans | $27,578 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6002 | State Bank Of Lake Park | 2049 2nd Street, Lake Park, MN 56554 | October 11, 1926 | Full Service Brick and Mortar |  |
| 1 | 219937 | Detached Facility | Main Street And Railroad Crossing, Hitterdal, MN 56552 | September 24, 1979 | Limited Service Facility |  |
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