BANKFIRST in Sioux Falls, South Dakota (SD)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 17, 2009

  • BANKFIRST in Sioux Falls, South Dakota (SD)
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BANKFIRST - Overview

  • General
  • FDIC Certificate #: 34103
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Alerus Financial, National Association (#3931)
    Federal Reserve ID: 2352507
    Date Established: December 07, 1995
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Interstate: No)
    FDIC's unique #: 56244
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: December 07, 1995
    Last Structure Change Effective Date: July 17, 2009
    Last Structure Change Process Date: July 21, 2009
    Last Data Update: July 21, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 6100 South Old Village Place, Sioux Falls, SD 57108
    County: Minnehaha
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux Falls
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Sioux Falls, SD (#7760)
    Core Based Statistical Area (CBSA): Sioux Falls, SD (#43620)
    CBSA Metro Statistical Area: Sioux Falls, SD (#43620)
  • Financial Summary
  • Total assets: $210.8 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, 2008)

  • Dollar figures in thousands
  • 94Total employees (full-time equivalent)
  • $297,876Total assets
  • $15,267Cash and due from depository institutions
  • $13,351Interest-bearing balances
  • $40,981Securities
  • $5,000Federal funds sold & reverse repurchase agreements
  • $186,739Net loans & leases
  • $42,555Loan loss allowance
  • $0Trading account assets
  • $4,787Bank premises and fixed assets
  • $28,971Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $16,131All other assets
  • $297,876Total liabilities and capital
  • $266,248Total liabilities
  • $259,989Total deposits
  • $248,970Interest-bearing deposits
  • $259,989Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $6,259All other liabilities
  • $31,628Total equity capital
  • $31,628Total bank equity capital
  • $31,628Perpetual preferred stock
  • $0Common stock
  • $5,000Surplus
  • $86,500Undivided profits
  • Memoranda
  • $-59,872Noncurrent loans and leases
  • $14,668Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $94,338Earning assets
  • $0Long-term assets (5+ years)
  • $707Average Assets, year-to-date
  • $246,071Average Assets, quarterly
  • $23,355Volatile liabilities
  • $365,632Insider loans
  • $308,922FHLB advances
  • $43,757Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $14,668Total unused commitments
  • $1,900Restructured Loans and leases
  • $3,706Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $13,684Total interest income
  • $9,762Total interest expense
  • $3,922Net interest income
  • $63,129Provision for loan and lease losses
  • $10,196Total noninterest income
  • $0Fiduciary activities
  • $123Service charges on deposit accounts
  • $0Trading account gains & fees
  • $10,073Additional noninterest income
  • $23,665Total noninterest expense
  • $11,166Salaries and employee benefits
  • $2,991Premises and equipment expense
  • $9,508Additional noninterest expense
  • -$72,676Pre-tax net operating income
  • -$8,523Securities gains (losses)
  • $23Applicable income taxes
  • -$81,222Income before extraordinary items
  • $0Extraordinary gains - net
  • -$81,222Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $46,627Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.24%Yield on earning assets
  • 3.02%Cost of funding earning assets
  • 1.21%Net interest margin
  • 3.16%Noninterest income to earning assets
  • 7.33%Noninterest expense to earning assets
  • -19.88%Net operating income to assets
  • -22.21%Return on assets (ROA)
  • -22.21%Pretax return on assets
  • -127.77%Return on equity (ROE)
  • -127.77%Retained earnings to average equity (YTD only)
  • 16.27%Net charge-offs to loans
  • 135.39%Credit loss provision to net charge-offs
  • -0.20%Efficiency ratio
  • 165,965Assets per employee
  • 3.17%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 18.56%Loss allowance to noncurrent loans
  • 45.11%Noncurrent assets plus other real estate owned to assets
  • 41.40%Noncurrent loans to loans
  • 41.14%Net loans and leases to deposits
  • 71.83%Net loans and leases to core deposits
  • 86.36%Equity capital to assets
  • 10.62%Core capital (leverage) ratio
  • 10.09%Tier 1 risk-based capital ratio
  • 12.07%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $365,632Average earning assets
  • $63,567Average equity
  • $323,070Average loans

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