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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