BANKWEST in Rockford, Minnesota (MN)



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BANKWEST
GeneralFDIC 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
WWW: http://www.bankwestmn.com
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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)33
Total assets$104,160
Cash and due from depository institutions$14,743
Interest-bearing balances$12,201
Securities$7,246
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$72,807
Loan loss allowance $1,870
Trading account assets$0
Bank premises and fixed assets$5,186
Other real estate owned$1,940
Goodwill and other intangibles$0
All other assets$2,238
Life insurance assets$104,160
Total liabilities and capital$95,767
Total liabilities$95,340
Total deposits$75,255
Interest-bearing deposits$95,340
Deposits held in domestic offices$96
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $427
All other liabilities $8,393
Total equity capital$8,393
Total bank equity capital$8,393
Perpetual preferred stock$0
Common stock$60
Surplus$7,185
Undivided profits $1,148
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $325
Income earned, not collected on loans $3,272
Earning assets $0
Long-term assets (5+ years) $321
Average Assets, year-to-date $92,254
Average Assets, quarterly $8,962
Volatile liabilities $109,057
Insider loans $104,966
FHLB advances $76,591
Loans and leases held for sale $105,209
Unused loan commitments $578
Tier 1 (core) risk-based capital $578
Tier 2 risk-based capital $8,241
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $8,896
Derivatives$1,196
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,193
Total interest expense $830
Net interest income $4,363
Provision for loan and lease losses $1,050
Total noninterest income -$299
Fiduciary activities $0
Service charges on deposit accounts $612
Trading account gains & fees $0
Additional noninterest income -$911
Total noninterest expense $4,267
Salaries and employee benefits $1,896
Premises and equipment expense $652
Additional noninterest expense $1,719
Pre-tax net operating income -$1,253
Securities gains (losses) -$1
Applicable income taxes $5
Income before extraordinary items -$1,259
Extraordinary gains - net $0
Net income attributable to bank -$1,259
Net charge-offs $0
Cash dividends -$1,259
Sale, conversion, retirement of capital stock, net $1,224
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.43%
Cost of funding earning assets 0.87%
Net interest margin 4.56%
Noninterest income to earning assets -0.31%
Noninterest expense to earning assets 4.46%
Net operating income to assets -1.15%
Return on assets (ROA) -1.15%
Pretax return on assets -1.15%
Return on equity (ROE) -15.25%
Retained earnings to average equity (YTD only) -15.25%
Net charge-offs to loans 1.51%
Credit loss provision to net charge-offs 85.78%
Efficiency ratio-0.17%
Assets per employee$104,995
Cash dividends to net income (YTD only)3.16%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.50%
Noncurrent assets plus other real estate owned to assets 57.15%
Noncurrent loans to loans 5.00%
Net loans and leases to deposits4.38%
Net loans and leases to core deposits 76.37%
Equity capital to assets 78.70%
Core capital (leverage) ratio 8.06%
Tier 1 risk-based capital ratio 7.83%
Total risk-based capital ratio 10.76%
Memoranda
Average assets$12
Average earning assets$109,057
Average equity $8,256
Average loans $95,711
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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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