BankCherokee in Saint Paul, Minnesota (MN)



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BankCherokee
GeneralFDIC Certificate #: 8537
Status: Active
Federal Reserve ID: 748254
Bank Holding Company (Regulatory Top Holder): Cherokee Bancshares, Inc. (RSSDID: 1128228, Location: Saint Paul, MN)
Date Established: January 15, 1908
WWW: http://www.bankcherokee.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 10311
FDIC's unique #: 5445
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: January 01, 1934
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: 607 South Smith Avenue, Saint Paul, MN 55107
County: Ramsey
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: $241.1 mil
Equity capital: $13.4 mil
Deposits held in domestic offices: $211.3 mil
Return on assets (ROA): -1.31% (-$3.2 mil)
Quarterly return on assets: -0.84% (-$2.0 mil)
Return on Equity (ROE): -21.42% (-$2.8 mil)
Quarterly return on equity: -14.93% (-$1.9 mil)
Net income: -$3.1 mil
Quarterly Net income: -$0.5 mil
Pretax return on assets: -1.31% (-$3,158.9 mil)
Quarterly Pretax return on assets: -0.84% (-$2,025.6 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)59
Total assets$241,141
Cash and due from depository institutions$32,402
Interest-bearing balances$28,178
Securities$52,586
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$135,956
Loan loss allowance $2,548
Trading account assets$0
Bank premises and fixed assets$3,300
Other real estate owned$9,224
Goodwill and other intangibles$0
All other assets$7,673
Life insurance assets$241,141
Total liabilities and capital$227,720
Total liabilities$211,257
Total deposits$174,219
Interest-bearing deposits$211,257
Deposits held in domestic offices$92
% insured (estimated)13029.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,325
Other borrowed funds $0
Subordinated debt $2,109
All other liabilities $13,421
Total equity capital$13,421
Total bank equity capital$13,421
Perpetual preferred stock$0
Common stock$200
Surplus$18,112
Undivided profits $-4,891
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,104
Earning assets $0
Long-term assets (5+ years) $727
Average Assets, year-to-date $216,720
Average Assets, quarterly $54,403
Volatile liabilities $237,022
Insider loans $240,955
FHLB advances $135,521
Loans and leases held for sale $238,649
Unused loan commitments $6,081
Tier 1 (core) risk-based capital $6,081
Tier 2 risk-based capital $12,804
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $23,199
Derivatives$41
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,129
Total interest expense $1,518
Net interest income $6,611
Provision for loan and lease losses $1,182
Total noninterest income -$236
Fiduciary activities $0
Service charges on deposit accounts $513
Trading account gains & fees $0
Additional noninterest income -$749
Total noninterest expense $8,540
Salaries and employee benefits $4,129
Premises and equipment expense $1,551
Additional noninterest expense $2,860
Pre-tax net operating income -$3,347
Securities gains (losses) $231
Applicable income taxes $0
Income before extraordinary items -$3,116
Extraordinary gains - net $0
Net income attributable to bank -$3,116
Net charge-offs $0
Cash dividends -$3,116
Sale, conversion, retirement of capital stock, net $1,660
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 assets3.81%
Cost of funding earning assets 0.71%
Net interest margin 3.10%
Noninterest income to earning assets -0.11%
Noninterest expense to earning assets 4.00%
Net operating income to assets -1.41%
Return on assets (ROA) -1.31%
Pretax return on assets -1.31%
Return on equity (ROE) -21.42%
Retained earnings to average equity (YTD only) -21.42%
Net charge-offs to loans 1.26%
Credit loss provision to net charge-offs 71.20%
Efficiency ratio-1.30%
Assets per employee$130,369
Cash dividends to net income (YTD only)4.09%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.84%
Noncurrent assets plus other real estate owned to assets 49.92%
Noncurrent loans to loans 5.94%
Net loans and leases to deposits3.69%
Net loans and leases to core deposits 64.36%
Equity capital to assets 66.78%
Core capital (leverage) ratio 5.57%
Tier 1 risk-based capital ratio 5.37%
Total risk-based capital ratio 9.45%
Memoranda
Average assets$11
Average earning assets$237,022
Average equity $14,549
Average loans $213,445
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4 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05445Bankcherokee607 South Smith Avenue, Saint Paul, MN 55107January 15, 1908Full Service Brick and Mortar
1218683Randolph Avenue Branch675 Randolph Avenue, Saint Paul, MN 55102November 21, 1978Full Service Brick and Mortar
2218684Grand Avenue Branch985 Grand Avenue, St. Paul, MN 55105January 13, 1986Full Service Brick and Mortar
5218686North Oaks Branch999 Village Center Drive, North Oaks, MN 55127June 28, 1995Full Service Brick and Mortar
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