Annandale State Bank in Annandale, Minnesota (MN)
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| Annandale State Bank | |
|---|---|
| General | FDIC Certificate #: 10989 Status: Active Federal Reserve ID: 269058 Bank Holding Company (Regulatory Top Holder): Lake Central Financial, Inc. (RSSDID: 4035943, Location: Annandale, MN) Date Established: August 15, 1893 WWW: http://www.annabank.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) FDIC's unique #: 7041 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: All Other Specialization < 1 Billion 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: 40 Chestnut Street West, Annandale, MN 55302 County: Wright 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: $123.6 mil Equity capital: $15.1 mil Deposits held in domestic offices: $104.9 mil Return on assets (ROA): 0.65% ($0.8 mil) Quarterly return on assets: 0.30% ($0.4 mil) Return on Equity (ROE): 5.16% ($0.8 mil) Quarterly return on equity: 2.50% ($0.4 mil) Net income: $0.8 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.65% ($803.1 mil) Quarterly Pretax return on assets: 0.30% ($370.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 33 |
| Total assets | $123,554 |
| Cash and due from depository institutions | $12,604 |
| Interest-bearing balances | $11,693 |
| Securities | $35,999 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $67,192 |
| Loan loss allowance | $1,003 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $792 |
| Other real estate owned | $3,280 |
| Goodwill and other intangibles | $104 |
| All other assets | $3,583 |
| Life insurance assets | $123,554 |
| Total liabilities and capital | $108,475 |
| Total liabilities | $104,901 |
| Total deposits | $86,572 |
| Interest-bearing deposits | $104,901 |
| Deposits held in domestic offices | $89 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $2,900 |
| Other borrowed funds | $0 |
| Subordinated debt | $674 |
| All other liabilities | $15,079 |
| Total equity capital | $15,079 |
| Total bank equity capital | $15,079 |
| Perpetual preferred stock | $0 |
| Common stock | $500 |
| Surplus | $5,000 |
| Undivided profits | $9,579 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $64 |
| Income earned, not collected on loans | $3,354 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $672 |
| Average Assets, year-to-date | $114,884 |
| Average Assets, quarterly | $30,861 |
| Volatile liabilities | $124,773 |
| Insider loans | $124,793 |
| FHLB advances | $114,260 |
| Loans and leases held for sale | $124,303 |
| Unused loan commitments | $1,209 |
| Tier 1 (core) risk-based capital | $1,209 |
| Tier 2 risk-based capital | $14,866 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $12,894 |
| Derivatives | $177 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,077 |
| Total interest expense | $936 |
| Net interest income | $4,141 |
| Provision for loan and lease losses | $680 |
| Total noninterest income | $811 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $252 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $559 |
| Total noninterest expense | $3,466 |
| Salaries and employee benefits | $1,914 |
| Premises and equipment expense | $569 |
| Additional noninterest expense | $983 |
| Pre-tax net operating income | $806 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $806 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $806 |
| Net charge-offs | $0 |
| Cash dividends | $806 |
| Sale, conversion, retirement of capital stock, net | $839 |
| Net operating income | $1,633 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.41% |
| Cost of funding earning assets | 0.81% |
| Net interest margin | 3.60% |
| Noninterest income to earning assets | 0.70% |
| Noninterest expense to earning assets | 3.01% |
| Net operating income to assets | 0.65% |
| Return on assets (ROA) | 0.65% |
| Pretax return on assets | 0.65% |
| Return on equity (ROE) | 5.16% |
| Retained earnings to average equity (YTD only) | -5.30% |
| Net charge-offs to loans | 1.19% |
| Credit loss provision to net charge-offs | 81.05% |
| Efficiency ratio | 1.77% |
| Assets per employee | $69,204 |
| Cash dividends to net income (YTD only) | 3.74% |
| Condition Ratios (%) | |
| Loss allowance to loans | 202.61% |
| Loss allowance to noncurrent loans | 1.47% |
| Noncurrent assets plus other real estate owned to assets | 29.90% |
| Noncurrent loans to loans | 5.37% |
| Net loans and leases to deposits | 4.92% |
| Net loans and leases to core deposits | 64.05% |
| Equity capital to assets | 65.86% |
| Core capital (leverage) ratio | 12.20% |
| Tier 1 risk-based capital ratio | 11.96% |
| Total risk-based capital ratio | 13.01% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $124,773 |
| Average equity | $15,614 |
| Average loans | $115,178 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7041 | Annandale State Bank | 40 Chestnut Street West, Annandale, MN 55302 | August 15, 1893 | Full Service Brick and Mortar |  |
| 1 | 223540 | Detached Facility | State Highway 24 And State Access Road 75, Clearwater, MN 55320 | December 04, 1978 | Limited Service Facility |  |
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