Bank of South Dakota in Watertown, South Dakota (SD)



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Bank of South Dakota
GeneralFDIC Certificate #: 29285
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Marquette Bank South Dakota, National Association (#6079)
Federal Reserve ID: 237972
Date Established: December 24, 1934
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
OTS Docket #: 3224
FDIC's unique #: 42119
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
SAIF Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: December 24, 1934
Last Structure Change Effective Date: November 01, 1997
Last Structure Change Process Date: November 14, 1997
Last Data Update: November 14, 1997
Data Source Date: April 05, 2012
LocationAddress: 109 First Avenue Southeast, Watertown, SD 57201
County: Codington
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
Core Based Statistical Area (CBSA): Watertown, SD (#47980)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $117.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$58
Cash and due from depository institutions$116,417
Interest-bearing balances$3,507
Securities$1,208
Federal funds sold & reverse repurchase agreements$29,389
Net loans & leases$0
Loan loss allowance $77,598
Trading account assets$1,554
Bank premises and fixed assets$0
Other real estate owned$2,932
Goodwill and other intangibles$34
All other assets$1,782
Life insurance assets$1,175
Total liabilities and capital$0
Total liabilities$116,417
Total deposits$105,073
Interest-bearing deposits$100,962
Deposits held in domestic offices$96,930
% insured (estimated)100962.00%
Federal funds purchased & repurchase agreements $91
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,263
All other liabilities $0
Total equity capital$2,848
Total bank equity capital$2,848
Perpetual preferred stock$11,344
Common stock$0
Surplus$500
Undivided profits $10,900
Memoranda
Noncurrent loans and leases $-56
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $449
Earning assets $580
Long-term assets (5+ years) $108,195
Average Assets, year-to-date $30,133
Average Assets, quarterly $118,774
Volatile liabilities $117,791
Insider loans $8,193
FHLB advances $1,305
Loans and leases held for sale $0
Unused loan commitments $357
Tier 1 (core) risk-based capital $3,999
Tier 2 risk-based capital $0
Total risk weighted assets $9,615
Total unused commitments $77,919
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $8,905
Net interest income $4,914
Provision for loan and lease losses $3,991
Total noninterest income -$591
Fiduciary activities $1,099
Service charges on deposit accounts $0
Trading account gains & fees $439
Additional noninterest income $0
Total noninterest expense $660
Salaries and employee benefits $5,611
Premises and equipment expense $2,371
Additional noninterest expense $565
Pre-tax net operating income $2,675
Securities gains (losses) $70
Applicable income taxes $4
Income before extraordinary items -$21
Extraordinary gains - net $95
Net income attributable to bank $0
Net charge-offs $95
Cash dividends -$213
Sale, conversion, retirement of capital stock, net $250
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.06%
Net interest margin 4.45%
Noninterest income to earning assets 3.61%
Noninterest expense to earning assets 1.00%
Net operating income to assets 5.08%
Return on assets (ROA) 0.08%
Pretax return on assets 0.08%
Return on equity (ROE) 0.06%
Retained earnings to average equity (YTD only) 0.84%
Net charge-offs to loans -1.37%
Credit loss provision to net charge-offs -0.26%
Efficiency ratio277.46%
Assets per employee$104,912
Cash dividends to net income (YTD only)2.01%
Condition Ratios (%)
Loss allowance to loans 263.16%
Loss allowance to noncurrent loans 1.96%
Noncurrent assets plus other real estate owned to assets 346.10%
Noncurrent loans to loans 0.41%
Net loans and leases to deposits0.57%
Net loans and leases to core deposits 76.86%
Equity capital to assets 83.65%
Core capital (leverage) ratio 9.74%
Tier 1 risk-based capital ratio 8.22%
Total risk-based capital ratio 12.34%
Memoranda
Average assets$14
Average earning assets$118,774
Average equity $11,346
Average loans $110,437
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