BlackRidgeBANK in Fargo, North Dakota (ND), MN



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BlackRidgeBANK
GeneralFDIC Certificate #: 58580
Status: Active
Federal Reserve ID: 3580334
Bank Holding Company (Regulatory Top Holder): Blackridge Financial, Inc. (RSSDID: 3398070, Location: Fargo, ND)
Date Established: April 23, 2007
WWW: http://www.blackridgebank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Domestic: 11, Interstate: Yes)
FDIC's unique #: 457321
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: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: April 23, 2007
Last Structure Change Effective Date: October 01, 2011
Last Structure Change Process Date: November 29, 2011
Last Data Update: November 29, 2011
Data Source Date: April 05, 2012
LocationAddress: 4040 42nd Street South, Fargo, ND 58104
County: Cass
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Fargo-Moorhead, ND-MN (#2520)
Combined Statistical Area (CSA): Fargo-Wahpeton, ND-MN (#244)
Core Based Statistical Area (CBSA): Fargo, ND-MN (#22020)
CBSA Metro Statistical Area: Fargo, ND-MN (#22020)
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $348.3 mil
Equity capital: $46.5 mil
Deposits held in domestic offices: $299.3 mil
Return on assets (ROA): 0.77% ($2.7 mil)
Quarterly return on assets: 0.68% ($2.4 mil)
Return on Equity (ROE): 5.81% ($2.7 mil)
Quarterly return on equity: 5.12% ($2.4 mil)
Net income: $2.7 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 1.24% ($4,318.4 mil)
Quarterly Pretax return on assets: 1.11% ($3,865.7 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)85
Total assets$348,257
Cash and due from depository institutions$20,963
Interest-bearing balances$14,948
Securities$27,513
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$267,163
Loan loss allowance $3,562
Trading account assets$0
Bank premises and fixed assets$7,984
Other real estate owned$4,544
Goodwill and other intangibles$16,693
All other assets$3,397
Life insurance assets$348,257
Total liabilities and capital$301,715
Total liabilities$299,288
Total deposits$246,669
Interest-bearing deposits$299,288
Deposits held in domestic offices$88
% insured (estimated)323.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,410
Other borrowed funds $0
Subordinated debt $694
All other liabilities $46,542
Total equity capital$46,542
Total bank equity capital$46,542
Perpetual preferred stock$0
Common stock$1,000
Surplus$44,194
Undivided profits $1,348
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,167
Income earned, not collected on loans $5,655
Earning assets $0
Long-term assets (5+ years) $1,149
Average Assets, year-to-date $309,624
Average Assets, quarterly $32,362
Volatile liabilities $351,554
Insider loans $349,870
FHLB advances $265,433
Loans and leases held for sale $329,888
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $29,428
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $28,444
Derivatives$154
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $17,544
Total interest expense $3,324
Net interest income $14,220
Provision for loan and lease losses $1,305
Total noninterest income $977
Fiduciary activities $0
Service charges on deposit accounts $578
Trading account gains & fees $0
Additional noninterest income $399
Total noninterest expense $9,553
Salaries and employee benefits $4,763
Premises and equipment expense $1,394
Additional noninterest expense $3,396
Pre-tax net operating income $4,339
Securities gains (losses) $26
Applicable income taxes $1,668
Income before extraordinary items $2,697
Extraordinary gains - net $0
Net income attributable to bank $2,697
Net charge-offs $0
Cash dividends $2,697
Sale, conversion, retirement of capital stock, net $1,442
Net operating income $2,550
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.61%
Cost of funding earning assets 1.06%
Net interest margin 4.55%
Noninterest income to earning assets 0.31%
Noninterest expense to earning assets 3.06%
Net operating income to assets 0.76%
Return on assets (ROA) 0.77%
Pretax return on assets 1.24%
Return on equity (ROE) 5.81%
Retained earnings to average equity (YTD only) 0.32%
Net charge-offs to loans 0.53%
Credit loss provision to net charge-offs 90.50%
Efficiency ratio3.91%
Assets per employee$61,670
Cash dividends to net income (YTD only)4.10%
Condition Ratios (%)
Loss allowance to loans 94.55%
Loss allowance to noncurrent loans 1.32%
Noncurrent assets plus other real estate owned to assets 62.99%
Noncurrent loans to loans 2.93%
Net loans and leases to deposits2.09%
Net loans and leases to core deposits 89.27%
Equity capital to assets 93.08%
Core capital (leverage) ratio 13.36%
Tier 1 risk-based capital ratio 8.92%
Total risk-based capital ratio 11.09%
Memoranda
Average assets$12
Average earning assets$351,554
Average equity $46,453
Average loans $312,676
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9 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
212814Lakewood Branch14084 Baxter Drive, Ste 16, Baxter, MN 56425December 06, 1963Full Service Brick and Mortar
3246968Crosslake Branch35563 County Road 3, Crosslake, MN 56442November 09, 1977Full Service Retail
4246969Super One Branch1550 Fairview Road North, Baxter, MN 56425Febuary 09, 1998Limited Service Loan Production
515842Nisswa Branch5411 County Road 18, Nisswa, MN 56468August 01, 1978Full Service Brick and Mortar
6255139Schaefer's Foods Branch23964 Smiley Road, Nisswa, MN 56468November 18, 1996Full Service Retail
76546Fsb Alexandria Branch3313 Highway 29 South, Alexandria, MN 56308September 09, 1904Full Service Brick and Mortar
8222009Carlos Branch301 Main Avenue, Carlos, MN 56319Febuary 22, 1989Full Service Brick and Mortar
9222010Alexandria Branch406 3rd Avenue, East, Alexandria, MN 56308March 09, 2000Full Service Brick and Mortar
10221978Miltona Branch228 Oak St N, Miltona, MN 56354December 29, 1987Full Service Brick and Mortar
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2 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0457321Blackridgebank4040 42nd Street South, Fargo, ND 58104April 23, 2007Full Service Brick and Mortar
1489687Bismarck Branch3703 Lockport Street, Bismarck, ND 58503April 01, 2009Full Service Brick and Mortar
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