American Federal Bank in Fargo, North Dakota (ND), MN

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American Federal Bank
GeneralFDIC Certificate #: 29140
Status: Active
Federal Reserve ID: 637170
Date Established: January 01, 1891
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 13 (Domestic: 13, Interstate: Yes)
OTS Docket #: 2983
FDIC's unique #: 41974
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: March 16, 1935
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 215 North Fifth Street, Fargo, ND 58102
County: Cass
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Fargo-Moorhead, ND-MN (#2520)
Combined Statistical Area (CSA): Fargo-Wahpeton, ND-MN (#244)
Core Based Statistical Area (CBSA): Fargo, ND-MN (#22020)
CBSA Metro Statistical Area: Fargo, ND-MN (#22020)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $439.6 mil
Equity capital: $34.7 mil
Deposits held in domestic offices: $363.5 mil
Return on assets (ROA): 1.37% ($6.0 mil)
Quarterly return on assets: 1.42% ($6.2 mil)
Return on Equity (ROE): 17.60% ($6.2 mil)
Quarterly return on equity: 18.15% ($6.4 mil)
Net income: $5.7 mil
Quarterly Net income: $1.5 mil
Pretax return on assets: 1.42% ($6,241.8 mil)
Quarterly Pretax return on assets: 1.47% ($6,461.6 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)118
Total assets$439,564
Cash and due from depository institutions$23,352
Interest-bearing balances$12,676
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$360,793
Loan loss allowance $3,345
Trading account assets$0
Bank premises and fixed assets$9,235
Other real estate owned$0
Goodwill and other intangibles$594
All other assets$9,984
Life insurance assets$439,564
Total liabilities and capital$404,882
Total liabilities$363,528
Total deposits$317,929
Interest-bearing deposits$363,528
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$39,350
Other borrowed funds $0
Subordinated debt $2,004
All other liabilities $34,682
Total equity capital$34,682
Total bank equity capital$34,682
Perpetual preferred stock$0
Common stock$1
Undivided profits $24,232
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 $2,365
Earning assets $1,917
Long-term assets (5+ years) $4,372
Average Assets, year-to-date $409,075
Average Assets, quarterly $0
Volatile liabilities $417,617
Insider loans $433,306
FHLB advances $300,818
Loans and leases held for sale $438,973
Unused loan commitments $1,611
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $34,110
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $113,483
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $19,481
Total interest expense $4,456
Net interest income $15,025
Provision for loan and lease losses $100
Total noninterest income $5,070
Fiduciary activities $0
Service charges on deposit accounts $559
Trading account gains & fees $0
Additional noninterest income $4,511
Total noninterest expense $14,061
Salaries and employee benefits $10,452
Premises and equipment expense $1,801
Additional noninterest expense $1,808
Pre-tax net operating income $5,934
Securities gains (losses) $0
Applicable income taxes $222
Income before extraordinary items $5,712
Extraordinary gains - net $0
Net income attributable to bank $5,712
Net charge-offs $0
Cash dividends $5,712
Sale, conversion, retirement of capital stock, net $26
Net operating income $3,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.01%
Cost of funding earning assets 1.15%
Net interest margin 3.86%
Noninterest income to earning assets 1.30%
Noninterest expense to earning assets 3.61%
Net operating income to assets 1.37%
Return on assets (ROA) 1.37%
Pretax return on assets 1.42%
Return on equity (ROE) 17.60%
Retained earnings to average equity (YTD only) 8.36%
Net charge-offs to loans 0.01%
Credit loss provision to net charge-offs 384.62%
Efficiency ratio232.08%
Assets per employee$69,599
Cash dividends to net income (YTD only)3.73%
Condition Ratios (%)
Loss allowance to loans 52.52%
Loss allowance to noncurrent loans 0.92%
Noncurrent assets plus other real estate owned to assets 141.44%
Noncurrent loans to loans 0.54%
Net loans and leases to deposits0.65%
Net loans and leases to core deposits 99.25%
Equity capital to assets 135.93%
Core capital (leverage) ratio 7.89%
Tier 1 risk-based capital ratio 7.77%
Total risk-based capital ratio 11.34%
Average assets$12
Average earning assets$417,617
Average equity $32,456
Average loans $389,010
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8 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1273161Crookston Branch304 N Broadway, Crookston, MN 56716January 01, 1891Full Service Brick and Mortar
2273162Ada Branch201 East Main Street South, Ada, MN 56510January 01, 1891Full Service Brick and Mortar
3273163Moorhead Branch601 Center Avenue, Moorhead, MN 56560January 01, 1891Full Service Brick and Mortar
100273164Warren Branch101 East Johnson Ave, Warren, MN 56762January 01, 1891Full Service Brick and Mortar
10144095Hallock Branch157 South Second Street, Hallock, MN 56728January 01, 1899Full Service Brick and Mortar
102273165Fergus Falls Branch117 South Mill Street, Fergus Falls, MN 56537January 01, 1891Full Service Brick and Mortar
104266749Fosston Branch209 Johnson Avenue North, Fosston, MN 56542January 01, 1923Full Service Brick and Mortar
109273167East Grand Forks Branch140 Gateway Drive Ne, East Grand Forks, MN 56721August 25, 1997Full Service Brick and Mortar
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5 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
041974American Federal Bank215 North Fifth Street, Fargo, ND 58102January 01, 1891Full Service Brick and Mortar
105273166Northwood Branch504 1st Avenue North, Northwood, ND 58267June 26, 1995Full Service Brick and Mortar
107268571Wapheton Branch615 2nd Ave N, Wahpeton, ND 58075January 01, 1893Full Service Brick and Mortar
108268572Fargo South Branch1301 Thirtieth Avenue South, Fargo, ND 58103October 31, 1994Full Service Brick and Mortar
110273168Grand Forks Branch2551 South Columbia Road, Grand Forks, ND 58201July 01, 1996Full Service Brick and Mortar
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