American Bank of the North in Nashwauk, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

American Bank of the North - Overview

  • General
  • FDIC Certificate #: 5216
    Status: Active
    Federal Reserve ID: 716655
    Bank Holding Company (Regulatory Top Holder): Mesaba Bancshares, Inc. (RSSDID: 2217503, Location: Grand Rapids, MN)
    Date Established: January 01, 1920
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 19 (Domestic: 19, Interstate: No)
    OTS Docket #: 10623
    FDIC's unique #: 3503
    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: 117 Central Avenue, Nashwauk, MN 55769
    County: Itasca
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    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: $622.9 mil
    Equity capital: $41.3 mil
    Deposits held in domestic offices: $567.2 mil
    Return on assets (ROA): -1.34% (-$8.3 mil)
    Quarterly return on assets: -3.42% (-$21.3 mil)
    Return on Equity (ROE): -17.95% (-$7.4 mil)
    Quarterly return on equity: -48.82% (-$20.0 mil)
    Net income: -$8.6 mil
    Quarterly Net income: -$5.4 mil
    Pretax return on assets: -1.34% (-$8,346.3 mil)
    Quarterly Pretax return on assets: -3.42% (-$21,301.7 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
  • 178Total employees (full-time equivalent)
  • $622,857Total assets
  • $24,023Cash and due from depository institutions
  • $20,440Interest-bearing balances
  • $85,606Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $475,835Net loans & leases
  • $18,533Loan loss allowance
  • $0Trading account assets
  • $7,175Bank premises and fixed assets
  • $18,974Other real estate owned
  • $472Goodwill and other intangibles
  • $622,857Life insurance assets
  • $10,772All other assets
  • $581,536Total liabilities and capital
  • $567,237Total liabilities
  • $529,219Total deposits
  • $567,237Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 7429.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $1,870Subordinated debt
  • $41,321All other liabilities
  • $41,321Total equity capital
  • $41,321Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $46,250Surplus
  • $-4,979Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $458Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $64,259Income earned, not collected on loans
  • $2,711Earning assets
  • $2,128Long-term assets (5+ years)
  • $581,881Average Assets, year-to-date
  • $107,401Average Assets, quarterly
  • $638,477Volatile liabilities
  • $633,438Insider loans
  • $462,452FHLB advances
  • $634,277Loans and leases held for sale
  • $2,883Unused loan commitments
  • $2,883Tier 1 (core) risk-based capital
  • $39,552Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $62,501Restructured Loans and leases
  • $718Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $29,001Total interest income
  • $4,931Total interest expense
  • $24,070Net interest income
  • $16,510Provision for loan and lease losses
  • -$861Total noninterest income
  • $0Fiduciary activities
  • $928Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,789Additional noninterest income
  • $17,519Total noninterest expense
  • $8,829Salaries and employee benefits
  • $2,058Premises and equipment expense
  • $6,632Additional noninterest expense
  • -$10,820Pre-tax net operating income
  • $2,275Securities gains (losses)
  • $5Applicable income taxes
  • -$8,550Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,550Net income attributable to bank
  • $0Net charge-offs
  • -$8,550Cash dividends
  • $11,415Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.86%Yield on earning assets
  • 0.83%Cost of funding earning assets
  • 4.03%Net interest margin
  • -0.14%Noninterest income to earning assets
  • 2.94%Noninterest expense to earning assets
  • -1.70%Net operating income to assets
  • -1.34%Return on assets (ROA)
  • -1.34%Pretax return on assets
  • -17.95%Return on equity (ROE)
  • -17.95%Retained earnings to average equity (YTD only)
  • 2.16%Net charge-offs to loans
  • 144.63%Credit loss provision to net charge-offs
  • 0.50%Efficiency ratio
  • 75,462Assets per employee
  • 3.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.75%Loss allowance to noncurrent loans
  • 28.84%Noncurrent assets plus other real estate owned to assets
  • 13.36%Noncurrent loans to loans
  • 13.00%Net loans and leases to deposits
  • 83.89%Net loans and leases to core deposits
  • 87.36%Equity capital to assets
  • 6.63%Core capital (leverage) ratio
  • 6.24%Tier 1 risk-based capital ratio
  • 8.55%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $638,477Average earning assets
  • $47,639Average equity
  • $596,843Average loans

List of branches

  • 19 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    03503American Bank Of The North117 Central Avenue, Nashwauk, MN 55769January 01, 1920Full Service Brick and Mortar
    3207367Keewatin Branch301 North First Street, Keewatin, MN 55753September 24, 1993Limited Service Facility
    4207368Hibbing Downtown Branch2015 Third Avenue East, Hibbing, MN 55746June 15, 1995Full Service Brick and Mortar
    5360059Wal-Mart Super Center12080 Highway 169, Hibbing, MN 55746Febuary 28, 2001Limited Service Facility
    67011Grand Rapids South Branch1215 Pokegama Avenue South, Grand Rapids, MN 55744August 01, 1919Full Service Brick and Mortar
    7223513Calumet BranchU.S. Highway 169, Calumet, MN 55716January 21, 1981Limited Service Facility
    8223515Grand Rapids North Branch428 N. W. Fourth Avenue, Grand Rapids, MN 55744January 09, 1995Full Service Brick and Mortar
    9360224Cub Foods Store Branch2410 Pokegama Avenue South, Grand Rapids, MN 55744March 14, 2000Full Service Retail
    103407Bovey Branch301 2nd Street, Bovey, MN 55709January 01, 1905Full Service Brick and Mortar
    111293Mountain Iron/Expressway Branch8401 Unity Drive, Mountain Iron, MN 55768November 11, 1916Full Service Brick and Mortar
    12190430Biwabik Branch221 North Main Street, Biwabik, MN 55708September 24, 1993Limited Service Facility
    13190431Orr Branch4539 Highway 53, Orr, MN 55771June 03, 1995Full Service Retail
    14190432Cook Branch128 Highway 53 Se, Cook, MN 55723May 18, 1998Full Service Brick and Mortar
    15430052Admin Building Branch2310 3rd Street Nw, Grand Rapids, MN 55744September 01, 2003Limited Service Administrative
    17280715Chisholm Branch231 West Lake Street, Chisholm, MN 55719November 27, 1951Full Service Brick and Mortar
    18465539Nashwauk East BranchPlatt Ave E, Nashwauk, MN 55769July 18, 2007Full Service Brick and Mortar
    19466055Nashwauk Data CenterPlatt Ave E, Nashwauk, MN 55769May 04, 2007Limited Service Administrative
    20466056Howard Branch522 E Howard Street, Hibbing, MN 55746October 26, 2006Limited Service Administrative
    21474219Wal-Mart Grand Rapids Branch100 Se 29th Street, Grand Rapids, MN 55744May 07, 2008Full Service Retail

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