1st United Bank in Faribault, Minnesota (MN)



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1st United Bank
GeneralFDIC Certificate #: 31249
Status: Active
Federal Reserve ID: 350572
Date Established: January 01, 1920
WWW: http://www.1stunited.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)
OTS Docket #: 6607
FDIC's unique #: 44083
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: Commercial Lending Specialization
Date of Deposit Insurance: December 18, 1961
Last Structure Change Effective Date: Febuary 13, 2012
Last Structure Change Process Date: Febuary 21, 2012
Last Data Update: Febuary 21, 2012
Data Source Date: April 05, 2012
LocationAddress: 430 4th St Nw, Faribault, MN 55021
County: Rice
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
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): Faribault-Northfield, MN (#22060)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Location
Change in Primary Regulatory Agency
Change in Entity Type
Financial SummaryTotal assets: $128.4 mil
Equity capital: $13.0 mil
Deposits held in domestic offices: $114.7 mil
Return on assets (ROA): 1.27% ($1.6 mil)
Quarterly return on assets: 1.34% ($1.7 mil)
Return on Equity (ROE): 13.49% ($1.8 mil)
Quarterly return on equity: 13.29% ($1.7 mil)
Net income: $1.6 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.27% ($1,630.3 mil)
Quarterly Pretax return on assets: 1.34% ($1,720.2 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)38
Total assets$128,372
Cash and due from depository institutions$5,514
Interest-bearing balances$2,592
Securities$38,903
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$76,668
Loan loss allowance $803
Trading account assets$0
Bank premises and fixed assets$3,718
Other real estate owned$1,513
Goodwill and other intangibles$483
All other assets$1,573
Life insurance assets$128,372
Total liabilities and capital$115,354
Total liabilities$114,668
Total deposits$98,291
Interest-bearing deposits$114,668
Deposits held in domestic offices$96
% insured (estimated)400.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $286
All other liabilities $13,018
Total equity capital$13,018
Total bank equity capital$13,018
Perpetual preferred stock$0
Common stock$77
Surplus$565
Undivided profits $12,376
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 $2,673
Earning assets $0
Long-term assets (5+ years) $736
Average Assets, year-to-date $118,163
Average Assets, quarterly $0
Volatile liabilities $127,838
Insider loans $128,443
FHLB advances $90,263
Loans and leases held for sale $126,538
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $11,184
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $14,333
Derivatives$3,665
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,716
Total interest expense $769
Net interest income $4,947
Provision for loan and lease losses $480
Total noninterest income $1,132
Fiduciary activities $0
Service charges on deposit accounts $341
Trading account gains & fees $0
Additional noninterest income $791
Total noninterest expense $4,169
Salaries and employee benefits $2,071
Premises and equipment expense $881
Additional noninterest expense $1,217
Pre-tax net operating income $1,430
Securities gains (losses) $195
Applicable income taxes $2
Income before extraordinary items $1,623
Extraordinary gains - net $0
Net income attributable to bank $1,623
Net charge-offs $0
Cash dividends $1,623
Sale, conversion, retirement of capital stock, net $339
Net operating income $1,188
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.86%
Cost of funding earning assets 0.65%
Net interest margin 4.21%
Noninterest income to earning assets 0.96%
Noninterest expense to earning assets 3.55%
Net operating income to assets 1.12%
Return on assets (ROA) 1.27%
Pretax return on assets 1.27%
Return on equity (ROE) 13.49%
Retained earnings to average equity (YTD only) 3.61%
Net charge-offs to loans 0.45%
Credit loss provision to net charge-offs 141.59%
Efficiency ratio5.63%
Assets per employee$67,791
Cash dividends to net income (YTD only)3.38%
Condition Ratios (%)
Loss allowance to loans 73.20%
Loss allowance to noncurrent loans 1.04%
Noncurrent assets plus other real estate owned to assets 30.04%
Noncurrent loans to loans 3.26%
Net loans and leases to deposits3.45%
Net loans and leases to core deposits 66.86%
Equity capital to assets 67.41%
Core capital (leverage) ratio 10.14%
Tier 1 risk-based capital ratio 8.84%
Total risk-based capital ratio 12.39%
Memoranda
Average assets$13
Average earning assets$127,838
Average equity $12,035
Average loans $117,575
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0440831st United Bank430 4th St Nw, Faribault, MN 55021January 01, 1920Full Service Brick and Mortar
102283957495 North Street W Branch495 North Street W, Owatonna, MN 55060January 02, 1997Full Service Retail
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