American Bank of the North in Nashwauk, Minnesota (MN)
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| American Bank of the North | |
|---|---|
| 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 WWW: http://www.ambnk.com 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 178 |
| Total assets | $622,857 |
| Cash and due from depository institutions | $24,023 |
| Interest-bearing balances | $20,440 |
| Securities | $85,606 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $475,835 |
| Loan loss allowance | $18,533 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,175 |
| Other real estate owned | $18,974 |
| Goodwill and other intangibles | $472 |
| All other assets | $10,772 |
| Life insurance assets | $622,857 |
| Total liabilities and capital | $581,536 |
| Total liabilities | $567,237 |
| Total deposits | $529,219 |
| Interest-bearing deposits | $567,237 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 7429.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $5,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,870 |
| All other liabilities | $41,321 |
| Total equity capital | $41,321 |
| Total bank equity capital | $41,321 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $46,250 |
| Undivided profits | $-4,979 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $458 |
| Income earned, not collected on loans | $64,259 |
| Earning assets | $2,711 |
| Long-term assets (5+ years) | $2,128 |
| Average Assets, year-to-date | $581,881 |
| Average Assets, quarterly | $107,401 |
| Volatile liabilities | $638,477 |
| Insider loans | $633,438 |
| FHLB advances | $462,452 |
| Loans and leases held for sale | $634,277 |
| Unused loan commitments | $2,883 |
| Tier 1 (core) risk-based capital | $2,883 |
| Tier 2 risk-based capital | $39,552 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $62,501 |
| Derivatives | $718 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $29,001 |
| Total interest expense | $4,931 |
| Net interest income | $24,070 |
| Provision for loan and lease losses | $16,510 |
| Total noninterest income | -$861 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $928 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$1,789 |
| Total noninterest expense | $17,519 |
| Salaries and employee benefits | $8,829 |
| Premises and equipment expense | $2,058 |
| Additional noninterest expense | $6,632 |
| Pre-tax net operating income | -$10,820 |
| Securities gains (losses) | $2,275 |
| Applicable income taxes | $5 |
| Income before extraordinary items | -$8,550 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$8,550 |
| Net charge-offs | $0 |
| Cash dividends | -$8,550 |
| Sale, conversion, retirement of capital stock, net | $11,415 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.86% |
| Cost of funding earning assets | 0.83% |
| Net interest margin | 4.03% |
| Noninterest income to earning assets | -0.14% |
| Noninterest expense to earning assets | 2.94% |
| Net operating income to assets | -1.70% |
| Return on assets (ROA) | -1.34% |
| Pretax return on assets | -1.34% |
| Return on equity (ROE) | -17.95% |
| Retained earnings to average equity (YTD only) | -17.95% |
| Net charge-offs to loans | 2.16% |
| Credit loss provision to net charge-offs | 144.63% |
| Efficiency ratio | 0.50% |
| Assets per employee | $75,462 |
| Cash dividends to net income (YTD only) | 3.50% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 3.75% |
| Noncurrent assets plus other real estate owned to assets | 28.84% |
| Noncurrent loans to loans | 13.36% |
| Net loans and leases to deposits | 13.00% |
| Net loans and leases to core deposits | 83.89% |
| Equity capital to assets | 87.36% |
| Core capital (leverage) ratio | 6.63% |
| Tier 1 risk-based capital ratio | 6.24% |
| Total risk-based capital ratio | 8.55% |
| Memoranda | |
| Average assets | $10 |
| Average earning assets | $638,477 |
| Average equity | $47,639 |
| Average loans | $596,843 |
| 19 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 3503 | American Bank Of The North | 117 Central Avenue, Nashwauk, MN 55769 | January 01, 1920 | Full Service Brick and Mortar |  |
| 3 | 207367 | Keewatin Branch | 301 North First Street, Keewatin, MN 55753 | September 24, 1993 | Limited Service Facility |  |
| 4 | 207368 | Hibbing Downtown Branch | 2015 Third Avenue East, Hibbing, MN 55746 | June 15, 1995 | Full Service Brick and Mortar | |
| 5 | 360059 | Wal-Mart Super Center | 12080 Highway 169, Hibbing, MN 55746 | Febuary 28, 2001 | Limited Service Facility | |
| 6 | 7011 | Grand Rapids South Branch | 1215 Pokegama Avenue South, Grand Rapids, MN 55744 | August 01, 1919 | Full Service Brick and Mortar | |
| 7 | 223513 | Calumet Branch | U.S. Highway 169, Calumet, MN 55716 | January 21, 1981 | Limited Service Facility | |
| 8 | 223515 | Grand Rapids North Branch | 428 N. W. Fourth Avenue, Grand Rapids, MN 55744 | January 09, 1995 | Full Service Brick and Mortar | |
| 9 | 360224 | Cub Foods Store Branch | 2410 Pokegama Avenue South, Grand Rapids, MN 55744 | March 14, 2000 | Full Service Retail | |
| 10 | 3407 | Bovey Branch | 301 2nd Street, Bovey, MN 55709 | January 01, 1905 | Full Service Brick and Mortar | |
| 11 | 1293 | Mountain Iron/Expressway Branch | 8401 Unity Drive, Mountain Iron, MN 55768 | November 11, 1916 | Full Service Brick and Mortar | |
| 12 | 190430 | Biwabik Branch | 221 North Main Street, Biwabik, MN 55708 | September 24, 1993 | Limited Service Facility | |
| 13 | 190431 | Orr Branch | 4539 Highway 53, Orr, MN 55771 | June 03, 1995 | Full Service Retail | |
| 14 | 190432 | Cook Branch | 128 Highway 53 Se, Cook, MN 55723 | May 18, 1998 | Full Service Brick and Mortar | |
| 15 | 430052 | Admin Building Branch | 2310 3rd Street Nw, Grand Rapids, MN 55744 | September 01, 2003 | Limited Service Administrative | |
| 17 | 280715 | Chisholm Branch | 231 West Lake Street, Chisholm, MN 55719 | November 27, 1951 | Full Service Brick and Mortar | |
| 18 | 465539 | Nashwauk East Branch | Platt Ave E, Nashwauk, MN 55769 | July 18, 2007 | Full Service Brick and Mortar | |
| 19 | 466055 | Nashwauk Data Center | Platt Ave E, Nashwauk, MN 55769 | May 04, 2007 | Limited Service Administrative | |
| 20 | 466056 | Howard Branch | 522 E Howard Street, Hibbing, MN 55746 | October 26, 2006 | Limited Service Administrative | |
| 21 | 474219 | Wal-Mart Grand Rapids Branch | 100 Se 29th Street, Grand Rapids, MN 55744 | May 07, 2008 | Full Service Retail | |
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