1st Financial Bank USA in Dakota Dunes, South Dakota (SD)



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1st Financial Bank USA
GeneralFDIC Certificate #: 1673
Status: Active
Federal Reserve ID: 526452
Date Established: January 01, 1910
WWW: http://www.1fbusa.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 #: 1100
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Credit Card Institutions: Yes
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: Credit-Card 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
LocationAddress: 331 North Dakota Dunes Boulevard, Dakota Dunes, SD 57049
County: Union
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Combined Statistical Area (CSA): Sioux City-Vermillion, IA-NE-SD (#512)
Core Based Statistical Area (CBSA): Sioux City, IA-NE-SD (#43580)
CBSA Metro Statistical Area: Sioux City, IA-NE-SD (#43580)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $515.6 mil
Equity capital: $108.7 mil
Deposits held in domestic offices: $366.9 mil
Return on assets (ROA): 1.25% ($6.5 mil)
Quarterly return on assets: 0.80% ($4.1 mil)
Return on Equity (ROE): 5.81% ($6.3 mil)
Quarterly return on equity: 3.74% ($4.1 mil)
Net income: $6.3 mil
Quarterly Net income: $1.0 mil
Pretax return on assets: 2.03% ($10,466.6 mil)
Quarterly Pretax return on assets: 1.39% ($7,166.8 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)446
Total assets$515,594
Cash and due from depository institutions$113,120
Interest-bearing balances$98,607
Securities$219,592
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$88,680
Loan loss allowance $5,192
Trading account assets$2
Bank premises and fixed assets$25,620
Other real estate owned$89
Goodwill and other intangibles$0
All other assets$68,491
Life insurance assets$515,594
Total liabilities and capital$406,851
Total liabilities$366,855
Total deposits$360,148
Interest-bearing deposits$366,855
Deposits held in domestic offices$98
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$733
Other borrowed funds $0
Subordinated debt $39,263
All other liabilities $108,743
Total equity capital$108,743
Total bank equity capital$108,743
Perpetual preferred stock$0
Common stock$88
Surplus$47,800
Undivided profits $60,855
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 $2,098
Earning assets $20
Long-term assets (5+ years) $433
Average Assets, year-to-date $406,881
Average Assets, quarterly $111,910
Volatile liabilities $500,209
Insider loans $516,777
FHLB advances $279,377
Loans and leases held for sale $523,492
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $101,850
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $1,949,523
Derivatives$313
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $82,200
Total interest expense $6,790
Net interest income $75,410
Provision for loan and lease losses $3,902
Total noninterest income $35,944
Fiduciary activities $0
Service charges on deposit accounts $67
Trading account gains & fees $0
Additional noninterest income $35,877
Total noninterest expense $97,309
Salaries and employee benefits $34,699
Premises and equipment expense $10,339
Additional noninterest expense $52,271
Pre-tax net operating income $10,143
Securities gains (losses) $0
Applicable income taxes $3,875
Income before extraordinary items $6,268
Extraordinary gains - net $0
Net income attributable to bank $6,268
Net charge-offs $0
Cash dividends $6,268
Sale, conversion, retirement of capital stock, net $4,500
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets21.71%
Cost of funding earning assets 1.79%
Net interest margin 19.91%
Noninterest income to earning assets 9.49%
Noninterest expense to earning assets 25.70%
Net operating income to assets 1.25%
Return on assets (ROA) 1.25%
Pretax return on assets 2.03%
Return on equity (ROE) 5.81%
Retained earnings to average equity (YTD only) 5.81%
Net charge-offs to loans 6.54%
Credit loss provision to net charge-offs 86.71%
Efficiency ratio3.12%
Assets per employee$87,387
Cash dividends to net income (YTD only)1.16%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.53%
Noncurrent assets plus other real estate owned to assets 247.47%
Noncurrent loans to loans 0.42%
Net loans and leases to deposits2.23%
Net loans and leases to core deposits 24.17%
Equity capital to assets 38.91%
Core capital (leverage) ratio 21.09%
Tier 1 risk-based capital ratio 19.46%
Total risk-based capital ratio 36.46%
Memoranda
Average assets$38
Average earning assets$500,209
Average equity $107,904
Average loans $378,694
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Bank Assets Sold and Securitized (December 31, 2011)
(Dollar figures in thousands)
Principal balance with servicing or other recourse retained
1-4 family residential loans $0
Home equity lines$0
Credit cards receivables$635,700
Auto loans$0
Other consumer loans$0
Commercial and industrial loans$0
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2 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011001st Financial Bank Usa331 North Dakota Dunes Boulevard, Dakota Dunes, SD 57049January 01, 1910Full Service Brick and Mortar
1189981Dupree BranchMain Street, Dupree, SD 57623December 15, 1994Full Service Brick and Mortar
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