21st Century Bank in Loretto, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • 21st Century Bank in Loretto, Minnesota (MN)
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21st Century Bank - Overview

  • General
  • FDIC Certificate #: 9751
    Status: Active
    Federal Reserve ID: 340256
    Bank Holding Company (Regulatory Top Holder): Dolphin Family Limited Partnership (RSSDID: 3304343, Location: Blaine, MN)
    Date Established: June 02, 1917
    WWW: http://www.21stcenturybank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    FDIC's unique #: 6238
    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: No
    Asset Concentration Hierarchy: Commercial Lending 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: 699 North Medina Street, Loretto, MN 55357
    County: Hennepin
    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
    Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
    CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $362.1 mil
    Equity capital: $44.4 mil
    Deposits held in domestic offices: $313.1 mil
    Return on assets (ROA): 0.37% ($1.3 mil)
    Quarterly return on assets: 0.54% ($2.0 mil)
    Return on Equity (ROE): 2.98% ($1.3 mil)
    Quarterly return on equity: 4.38% ($1.9 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.62% ($2,244.9 mil)
    Quarterly Pretax return on assets: 0.90% ($3,258.7 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
  • 52Total employees (full-time equivalent)
  • $362,073Total assets
  • $5,607Cash and due from depository institutions
  • $0Interest-bearing balances
  • $44,291Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $280,981Net loans & leases
  • $4,469Loan loss allowance
  • $0Trading account assets
  • $10,530Bank premises and fixed assets
  • $10,487Other real estate owned
  • $0Goodwill and other intangibles
  • $362,073Life insurance assets
  • $10,177All other assets
  • $317,658Total liabilities and capital
  • $313,093Total liabilities
  • $263,449Total deposits
  • $313,093Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 2100.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,200Trading liabilities
  • $0Other borrowed funds
  • $1,265Subordinated debt
  • $44,415All other liabilities
  • $44,415Total equity capital
  • $44,415Total bank equity capital
  • $0Perpetual preferred stock
  • $341Common stock
  • $35,659Surplus
  • $8,415Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,133Income earned, not collected on loans
  • $63Earning assets
  • $1,067Long-term assets (5+ years)
  • $325,272Average Assets, year-to-date
  • $44,763Average Assets, quarterly
  • $362,331Volatile liabilities
  • $364,539Insider loans
  • $286,151FHLB advances
  • $362,345Loans and leases held for sale
  • $676Unused loan commitments
  • $676Tier 1 (core) risk-based capital
  • $44,319Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $25,449Restructured Loans and leases
  • $2,813Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $16,314Total interest income
  • $2,472Total interest expense
  • $13,842Net interest income
  • $4,308Provision for loan and lease losses
  • -$64Total noninterest income
  • $0Fiduciary activities
  • $236Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$300Additional noninterest income
  • $7,538Total noninterest expense
  • $3,640Salaries and employee benefits
  • $1,403Premises and equipment expense
  • $2,495Additional noninterest expense
  • $1,932Pre-tax net operating income
  • $324Securities gains (losses)
  • $907Applicable income taxes
  • $1,349Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,349Net income attributable to bank
  • $0Net charge-offs
  • $1,349Cash dividends
  • $3,794Sale, conversion, retirement of capital stock, net
  • $2,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.01%Yield on earning assets
  • 0.76%Cost of funding earning assets
  • 4.25%Net interest margin
  • -0.02%Noninterest income to earning assets
  • 2.31%Noninterest expense to earning assets
  • 0.32%Net operating income to assets
  • 0.37%Return on assets (ROA)
  • 0.62%Pretax return on assets
  • 2.98%Return on equity (ROE)
  • -1.44%Retained earnings to average equity (YTD only)
  • 1.32%Net charge-offs to loans
  • 113.55%Credit loss provision to net charge-offs
  • 1.64%Efficiency ratio
  • 54,710Assets per employee
  • 6.96%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 148.26%Loss allowance to loans
  • 1.57%Loss allowance to noncurrent loans
  • 108.13%Noncurrent assets plus other real estate owned to assets
  • 4.04%Noncurrent loans to loans
  • 1.45%Net loans and leases to deposits
  • 89.74%Net loans and leases to core deposits
  • 117.47%Equity capital to assets
  • 12.27%Core capital (leverage) ratio
  • 12.23%Tier 1 risk-based capital ratio
  • 15.49%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $362,331Average earning assets
  • $45,262Average equity
  • $325,705Average loans

List of branches

  • 7 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0623821st Century Bank699 North Medina Street, Loretto, MN 55357June 02, 1917Full Service Brick and Mortar
    2221102Blaine BranchHighways 65 And 242, Blaine, MN 55434December 21, 1978Full Service Brick and Mortar
    3221103Blaine Branch9380 Central Avenue Ne, Blaine, MN 55434September 01, 1998Full Service Brick and Mortar
    4563621st Century Bank Branch21660 South Diamond Lake Road, Rogers, MN 55374November 01, 1924Full Service Brick and Mortar
    743192321st Century Branch17635 Ne Central Avenue., Ham Lake, MN 55304September 03, 2004Full Service Brick and Mortar
    8470008Minneapolis Office Branch17 Washington Avenue North, Minneapolis, MN 55401December 01, 2007Full Service Brick and Mortar
    9526582Blaine Branch4125 Ball Road Ne, Suite 300, Blaine, MN 55449September 16, 2011Full Service Brick and Mortar

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