Border State Bank in Greenbush, Minnesota (MN)



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Table of contents:
Border State Bank
GeneralFDIC Certificate #: 15684
Status: Active
Federal Reserve ID: 977951
Bank Holding Company (Regulatory Top Holder): Border Bancshares, Inc. (RSSDID: 2238544, Location: Greenbush, MN)
Date Established: August 09, 1935
WWW: http://www.borderstatebank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Domestic: 7, Interstate: No)
OTS Docket #: 15593
FDIC's unique #: 9954
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: September 09, 1939
Last Structure Change Effective Date: May 07, 2007
Last Structure Change Process Date: May 16, 2007
Last Data Update: May 16, 2007
Data Source Date: April 05, 2012
LocationAddress: 133 Main Street North, Greenbush, MN 56726
County: Roseau
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
History of ChangesChange in Location
Financial SummaryTotal assets: $341.6 mil
Equity capital: $30.3 mil
Deposits held in domestic offices: $297.0 mil
Return on assets (ROA): 0.19% ($0.6 mil)
Quarterly return on assets: 0.21% ($0.7 mil)
Return on Equity (ROE): 2.24% ($0.7 mil)
Quarterly return on equity: 2.42% ($0.7 mil)
Net income: $0.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.19% ($649.0 mil)
Quarterly Pretax return on assets: 0.22% ($751.5 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)112
Total assets$341,584
Cash and due from depository institutions$18,062
Interest-bearing balances$6,951
Securities$48,333
Federal funds sold & reverse repurchase agreements$10,350
Net loans & leases$239,859
Loan loss allowance $4,466
Trading account assets$0
Bank premises and fixed assets$7,781
Other real estate owned$9,465
Goodwill and other intangibles$963
All other assets$6,771
Life insurance assets$341,584
Total liabilities and capital$311,241
Total liabilities$297,019
Total deposits$240,573
Interest-bearing deposits$297,019
Deposits held in domestic offices$87
% insured (estimated)6446.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$6,400
Other borrowed funds $0
Subordinated debt $1,376
All other liabilities $30,343
Total equity capital$30,343
Total bank equity capital$30,343
Perpetual preferred stock$0
Common stock$1,000
Surplus$23,450
Undivided profits $5,893
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,344
Income earned, not collected on loans $12,411
Earning assets $118
Long-term assets (5+ years) $2,317
Average Assets, year-to-date $305,493
Average Assets, quarterly $44,401
Volatile liabilities $344,840
Insider loans $339,097
FHLB advances $280,295
Loans and leases held for sale $340,327
Unused loan commitments $303
Tier 1 (core) risk-based capital $303
Tier 2 risk-based capital $28,360
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $34,315
Derivatives$1,525
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,859
Total interest expense $3,923
Net interest income $11,936
Provision for loan and lease losses $914
Total noninterest income $1,757
Fiduciary activities $0
Service charges on deposit accounts $924
Trading account gains & fees $0
Additional noninterest income $833
Total noninterest expense $12,257
Salaries and employee benefits $6,004
Premises and equipment expense $1,340
Additional noninterest expense $4,913
Pre-tax net operating income $522
Securities gains (losses) $134
Applicable income taxes $5
Income before extraordinary items $651
Extraordinary gains - net $0
Net income attributable to bank $651
Net charge-offs $0
Cash dividends $651
Sale, conversion, retirement of capital stock, net $1,482
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 assets5.09%
Cost of funding earning assets 1.26%
Net interest margin 3.83%
Noninterest income to earning assets 0.56%
Noninterest expense to earning assets 3.93%
Net operating income to assets 0.15%
Return on assets (ROA) 0.19%
Pretax return on assets 0.19%
Return on equity (ROE) 2.24%
Retained earnings to average equity (YTD only) 2.24%
Net charge-offs to loans 0.60%
Credit loss provision to net charge-offs 61.67%
Efficiency ratio0.97%
Assets per employee$89,301
Cash dividends to net income (YTD only)3.05%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.83%
Noncurrent assets plus other real estate owned to assets 35.98%
Noncurrent loans to loans 6.40%
Net loans and leases to deposits5.08%
Net loans and leases to core deposits 80.76%
Equity capital to assets 98.07%
Core capital (leverage) ratio 8.88%
Tier 1 risk-based capital ratio 8.33%
Total risk-based capital ratio 10.12%
Memoranda
Average assets$11
Average earning assets$344,840
Average equity $29,049
Average loans $311,851
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7 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09954Border State Bank133 Main Street North, Greenbush, MN 56726August 09, 1935Full Service Brick and Mortar
110424Thief River Falls Location1528 Highway 59 South, Thief River Falls, MN 56701January 16, 1945Full Service Brick and Mortar
2237632Middle River Branch150 Hill Avenue, Middle River, MN 56737May 14, 1992Full Service Brick and Mortar
310888Roseau Office1083 Third Street Northwest, Roseau, MN 56751March 18, 1949Full Service Brick and Mortar
4238799Badger Location202 North Main Street, Badger, MN 56714Febuary 15, 1995Full Service Brick and Mortar
5238800Baudette Office605 Main Street West, Baudette, MN 56623Febuary 02, 1998Full Service Brick and Mortar
680253Border State Bank Of International F1414 Highway 71, International Falls, MN 56649April 17, 2000Full Service Brick and Mortar
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