BankStar Financial in Elkton, South Dakota (SD)

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BankStar Financial
GeneralFDIC Certificate #: 496
Status: Active
Federal Reserve ID: 109453
Bank Holding Company (Regulatory Top Holder): Elkton Holding Company (RSSDID: 1943917, Location: Elkton, SD)
Date Established: March 20, 1926
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 16027
FDIC's unique #: 357
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: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 124 Elk Street, Elkton, SD 57026
County: Brookings
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): Brookings, SD (#15100)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $61.7 mil
Equity capital: $5.8 mil
Deposits held in domestic offices: $48.9 mil
Return on assets (ROA): 0.97% ($0.6 mil)
Quarterly return on assets: 1.28% ($0.8 mil)
Return on Equity (ROE): 10.78% ($0.6 mil)
Quarterly return on equity: 13.60% ($0.8 mil)
Net income: $0.6 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.01% ($623.6 mil)
Quarterly Pretax return on assets: 1.33% ($821.2 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)16
Total assets$61,747
Cash and due from depository institutions$1,069
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$400
Net loans & leases$46,063
Loan loss allowance $480
Trading account assets$0
Bank premises and fixed assets$537
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$2,601
Life insurance assets$61,747
Total liabilities and capital$55,949
Total liabilities$48,925
Total deposits$39,747
Interest-bearing deposits$48,925
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$6,800
Other borrowed funds $0
Subordinated debt $224
All other liabilities $5,798
Total equity capital$5,798
Total bank equity capital$5,798
Perpetual preferred stock$0
Common stock$100
Undivided profits $3,043
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 $1,108
Earning assets $0
Long-term assets (5+ years) $530
Average Assets, year-to-date $57,540
Average Assets, quarterly $15,872
Volatile liabilities $59,918
Insider loans $61,445
FHLB advances $49,207
Loans and leases held for sale $61,514
Unused loan commitments $1,397
Tier 1 (core) risk-based capital $1,397
Tier 2 risk-based capital $5,362
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $5,492
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,050
Total interest expense $784
Net interest income $2,266
Provision for loan and lease losses $81
Total noninterest income $295
Fiduciary activities $0
Service charges on deposit accounts $145
Trading account gains & fees $0
Additional noninterest income $150
Total noninterest expense $1,889
Salaries and employee benefits $1,067
Premises and equipment expense $161
Additional noninterest expense $661
Pre-tax net operating income $591
Securities gains (losses) $12
Applicable income taxes $24
Income before extraordinary items $579
Extraordinary gains - net $0
Net income attributable to bank $579
Net charge-offs $0
Cash dividends $579
Sale, conversion, retirement of capital stock, net -$1
Net operating income $300
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.49%
Cost of funding earning assets 1.41%
Net interest margin 4.08%
Noninterest income to earning assets 0.53%
Noninterest expense to earning assets 3.40%
Net operating income to assets 0.95%
Return on assets (ROA) 0.97%
Pretax return on assets 1.01%
Return on equity (ROE) 10.78%
Retained earnings to average equity (YTD only) 5.20%
Net charge-offs to loans -0.00%
Credit loss provision to net charge-offs -8100.00%
Efficiency ratio0.00%
Assets per employee$73,760
Cash dividends to net income (YTD only)3.86%
Condition Ratios (%)
Loss allowance to loans 51.81%
Loss allowance to noncurrent loans 1.03%
Noncurrent assets plus other real estate owned to assets 43.32%
Noncurrent loans to loans 1.79%
Net loans and leases to deposits2.38%
Net loans and leases to core deposits 94.15%
Equity capital to assets 99.93%
Core capital (leverage) ratio 9.39%
Tier 1 risk-based capital ratio 8.72%
Total risk-based capital ratio 10.90%
Average assets$12
Average earning assets$59,918
Average equity $5,369
Average loans $55,540
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2 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0357Bankstar Financial124 Elk Street, Elkton, SD 57026March 20, 1926Full Service Brick and Mortar
1363728Brookings Branch510 Main Avenue South, Brookings, SD 57006April 15, 2002Full Service Brick and Mortar
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