Bank Forward in Hannaford, North Dakota (ND), MN



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Bank Forward
GeneralFDIC Certificate #: 8941
Status: Active
Federal Reserve ID: 812557
Bank Holding Company (Regulatory Top Holder): Security State Bank Holding Company (RSSDID: 1124257, Location: Fargo, ND)
Date Established: September 05, 1927
WWW: http://www.bankforward.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 13 (Domestic: 13, Interstate: Yes)
OTS Docket #: 15932
FDIC's unique #: 5708
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: August 23, 2010
Last Structure Change Process Date: August 27, 2010
Last Data Update: August 27, 2010
Data Source Date: April 05, 2012
LocationAddress: 390 Wheat St, Hannaford, ND 58448
County: Griggs
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial SummaryTotal assets: $472.4 mil
Equity capital: $45.7 mil
Deposits held in domestic offices: $374.8 mil
Return on assets (ROA): 0.44% ($2.1 mil)
Quarterly return on assets: -0.02% (-$0.1 mil)
Return on Equity (ROE): 4.81% ($2.2 mil)
Quarterly return on equity: -0.16% (-$0.1 mil)
Net income: $2.1 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 0.48% ($2,267.7 mil)
Quarterly Pretax return on assets: 0.11% ($519.7 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)196
Total assets$472,445
Cash and due from depository institutions$18,341
Interest-bearing balances$1,972
Securities$62,605
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$345,589
Loan loss allowance $6,903
Trading account assets$0
Bank premises and fixed assets$16,693
Other real estate owned$10,123
Goodwill and other intangibles$8,245
All other assets$10,849
Life insurance assets$472,445
Total liabilities and capital$426,748
Total liabilities$374,817
Total deposits$295,897
Interest-bearing deposits$374,817
Deposits held in domestic offices$93
% insured (estimated)11459.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$30,824
Other borrowed funds $6,000
Subordinated debt $3,648
All other liabilities $45,697
Total equity capital$45,697
Total bank equity capital$45,697
Perpetual preferred stock$0
Common stock$300
Surplus$43,690
Undivided profits $1,707
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $580
Income earned, not collected on loans $8,632
Earning assets $209
Long-term assets (5+ years) $4,016
Average Assets, year-to-date $410,166
Average Assets, quarterly $118,568
Volatile liabilities $474,652
Insider loans $464,031
FHLB advances $373,226
Loans and leases held for sale $455,499
Unused loan commitments $585
Tier 1 (core) risk-based capital $585
Tier 2 risk-based capital $36,935
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $80,042
Derivatives$1,421
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $21,948
Total interest expense $6,004
Net interest income $15,944
Provision for loan and lease losses $1,437
Total noninterest income $6,367
Fiduciary activities $0
Service charges on deposit accounts $660
Trading account gains & fees $0
Additional noninterest income $5,707
Total noninterest expense $19,370
Salaries and employee benefits $11,991
Premises and equipment expense $2,340
Additional noninterest expense $5,039
Pre-tax net operating income $1,504
Securities gains (losses) $751
Applicable income taxes $150
Income before extraordinary items $2,105
Extraordinary gains - net $0
Net income attributable to bank $2,105
Net charge-offs $0
Cash dividends $2,105
Sale, conversion, retirement of capital stock, net $3,592
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 assets5.25%
Cost of funding earning assets 1.44%
Net interest margin 3.81%
Noninterest income to earning assets 1.52%
Noninterest expense to earning assets 4.63%
Net operating income to assets 0.30%
Return on assets (ROA) 0.44%
Pretax return on assets 0.48%
Return on equity (ROE) 4.81%
Retained earnings to average equity (YTD only) 4.81%
Net charge-offs to loans 1.00%
Credit loss provision to net charge-offs 40.01%
Efficiency ratio0.82%
Assets per employee$85,137
Cash dividends to net income (YTD only)2.41%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.96%
Noncurrent assets plus other real estate owned to assets 79.97%
Noncurrent loans to loans 3.97%
Net loans and leases to deposits2.45%
Net loans and leases to core deposits 92.20%
Equity capital to assets 97.58%
Core capital (leverage) ratio 9.67%
Tier 1 risk-based capital ratio 8.11%
Total risk-based capital ratio 9.90%
Memoranda
Average assets$13
Average earning assets$474,652
Average equity $43,727
Average loans $418,088
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1257064Walker Branch106 6th Street South, Walker, MN 56484Febuary 10, 1997Full Service Brick and Mortar
13290525Hackensack Branch316 First Street North, Hackensack, MN 56452June 15, 1999Full Service Brick and Mortar
15466114Bemidji Branch700 Paul Bunyan Dr Nw, Bemidji, MN 56601Febuary 01, 2007Full Service Brick and Mortar
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10 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05708Bank Forward390 Wheat St, Hannaford, ND 58448September 05, 1927Full Service Brick and Mortar
19653New Rockford Branch6 South 8th Street, New Rockford, ND 58356January 01, 1935Full Service Brick and Mortar
26055Cooperstown Banking House Branch802 Burrell Avenue Southwest, Cooperstown, ND 58425August 25, 1913Full Service Brick and Mortar
312733Carrington Banking House Branch484 Main Street, Carrington, ND 58421August 05, 1907Full Service Brick and Mortar
5246711Bowdon Paying And Receiving Branch65 Main Street, Bowdon, ND 58418October 28, 1966Full Service Brick and Mortar
8219204Wimbledon Paying And Revceiving BranMain Street, Wimbledon, ND 58492Febuary 16, 1993Full Service Brick and Mortar
9219205Jamestown Branch400 2nd Avenue, Southwest, Jamestown, ND 58402October 02, 1995Full Service Brick and Mortar
10219206Valley City Branch430 West Main Street, Valley City, ND 58072October 13, 1998Full Service Brick and Mortar
14466113Grand Forks Branch1301 Ralph Engelstad Arena Drive, Grand Forks, ND 58204June 01, 2007Full Service Brick and Mortar
16474312Columbia Road Branch3350 South Columbia Road, Grand Forks, ND 58201May 05, 2008Full Service Brick and Mortar
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