BANKWEST in Rockford, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • BANKWEST in Rockford, Minnesota (MN)
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BANKWEST - Overview

  • General
  • FDIC Certificate #: 16704
    Status: Active
    Federal Reserve ID: 791353
    Bank Holding Company (Regulatory Top Holder): Bankwest Financial, Inc. (RSSDID: 1134872, Location: Rockford, MN)
    Date Established: January 01, 1948
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 10827
    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: Commercial Lending Specialization
    Date of Deposit Insurance: June 01, 1948
    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: 5921 Main Street, Rockford, MN 55373
    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: $104.2 mil
    Equity capital: $8.4 mil
    Deposits held in domestic offices: $95.3 mil
    Return on assets (ROA): -1.15% (-$1.2 mil)
    Quarterly return on assets: -0.66% (-$0.7 mil)
    Return on Equity (ROE): -15.25% (-$1.2 mil)
    Quarterly return on equity: -8.27% (-$0.7 mil)
    Net income: -$1.3 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: -1.15% (-$1,197.8 mil)
    Quarterly Pretax return on assets: -0.66% (-$687.5 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
  • 33Total employees (full-time equivalent)
  • $104,160Total assets
  • $14,743Cash and due from depository institutions
  • $12,201Interest-bearing balances
  • $7,246Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $72,807Net loans & leases
  • $1,870Loan loss allowance
  • $0Trading account assets
  • $5,186Bank premises and fixed assets
  • $1,940Other real estate owned
  • $0Goodwill and other intangibles
  • $104,160Life insurance assets
  • $2,238All other assets
  • $95,767Total liabilities and capital
  • $95,340Total liabilities
  • $75,255Total deposits
  • $95,340Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $427Subordinated debt
  • $8,393All other liabilities
  • $8,393Total equity capital
  • $8,393Total bank equity capital
  • $0Perpetual preferred stock
  • $60Common stock
  • $7,185Surplus
  • $1,148Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $325Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,272Income earned, not collected on loans
  • $0Earning assets
  • $321Long-term assets (5+ years)
  • $92,254Average Assets, year-to-date
  • $8,962Average Assets, quarterly
  • $109,057Volatile liabilities
  • $104,966Insider loans
  • $76,591FHLB advances
  • $105,209Loans and leases held for sale
  • $578Unused loan commitments
  • $578Tier 1 (core) risk-based capital
  • $8,241Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $8,896Restructured Loans and leases
  • $1,196Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,193Total interest income
  • $830Total interest expense
  • $4,363Net interest income
  • $1,050Provision for loan and lease losses
  • -$299Total noninterest income
  • $0Fiduciary activities
  • $612Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$911Additional noninterest income
  • $4,267Total noninterest expense
  • $1,896Salaries and employee benefits
  • $652Premises and equipment expense
  • $1,719Additional noninterest expense
  • -$1,253Pre-tax net operating income
  • -$1Securities gains (losses)
  • $5Applicable income taxes
  • -$1,259Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,259Net income attributable to bank
  • $0Net charge-offs
  • -$1,259Cash dividends
  • $1,224Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.43%Yield on earning assets
  • 0.87%Cost of funding earning assets
  • 4.56%Net interest margin
  • -0.31%Noninterest income to earning assets
  • 4.46%Noninterest expense to earning assets
  • -1.15%Net operating income to assets
  • -1.15%Return on assets (ROA)
  • -1.15%Pretax return on assets
  • -15.25%Return on equity (ROE)
  • -15.25%Retained earnings to average equity (YTD only)
  • 1.51%Net charge-offs to loans
  • 85.78%Credit loss provision to net charge-offs
  • -0.17%Efficiency ratio
  • 104,995Assets per employee
  • 3.16%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.50%Loss allowance to noncurrent loans
  • 57.15%Noncurrent assets plus other real estate owned to assets
  • 5.00%Noncurrent loans to loans
  • 4.38%Net loans and leases to deposits
  • 76.37%Net loans and leases to core deposits
  • 78.70%Equity capital to assets
  • 8.06%Core capital (leverage) ratio
  • 7.83%Tier 1 risk-based capital ratio
  • 10.76%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $109,057Average earning assets
  • $8,256Average equity
  • $95,711Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010827Bankwest5921 Main Street, Rockford, MN 55373January 01, 1948Full Service Brick and Mortar
    1238624Hanover Branch11000 River Road Northeast, Hanover, MN 55341September 14, 1992Full Service Brick and Mortar
    2361237Buffalo Branch311 10th Avenue South, Buffalo, MN 55313July 24, 2001Full Service Brick and Mortar

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