Boundary Waters Bank in Ely, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Boundary Waters Bank - Overview

  • General
  • FDIC Certificate #: 35172
    Status: Active
    Federal Reserve ID: 2749059
    Bank Holding Company (Regulatory Top Holder): Bw Bancorp (RSSDID: 2768126, Location: Ely, MN)
    Date Established: April 01, 1999
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 75645
    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 01, 1999
    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
  • Location
  • Address: 601 East Sheridan Street, Ely, MN 55731
    County: St. Louis
    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): Duluth-Superior, MN-WI (#2240)
    Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
    CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $110.5 mil
    Equity capital: $3.8 mil
    Deposits held in domestic offices: $100.7 mil
    Return on assets (ROA): -3.47% (-$3.8 mil)
    Quarterly return on assets: -11.46% (-$12.6 mil)
    Return on Equity (ROE): -59.02% (-$2.4 mil)
    Quarterly return on equity: -236.58% (-$9.5 mil)
    Net income: -$4.0 mil
    Quarterly Net income: -$3.2 mil
    Pretax return on assets: -3.46% (-$3,822.5 mil)
    Quarterly Pretax return on assets: -11.46% (-$12,660.7 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
  • 26Total employees (full-time equivalent)
  • $110,477Total assets
  • $6,970Cash and due from depository institutions
  • $5,788Interest-bearing balances
  • $7,628Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $83,943Net loans & leases
  • $2,366Loan loss allowance
  • $0Trading account assets
  • $1,886Bank premises and fixed assets
  • $9,004Other real estate owned
  • $0Goodwill and other intangibles
  • $110,477Life insurance assets
  • $1,046All other assets
  • $106,628Total liabilities and capital
  • $100,661Total liabilities
  • $89,701Total deposits
  • $100,661Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,500Trading liabilities
  • $0Other borrowed funds
  • $467Subordinated debt
  • $3,849All other liabilities
  • $3,849Total equity capital
  • $3,849Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $16,202Surplus
  • $-12,553Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,986Income earned, not collected on loans
  • $0Earning assets
  • $362Long-term assets (5+ years)
  • $97,359Average Assets, year-to-date
  • $10,131Average Assets, quarterly
  • $114,597Volatile liabilities
  • $112,569Insider loans
  • $90,805FHLB advances
  • $113,919Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $3,824Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,783Restructured Loans and leases
  • $576Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,461Total interest income
  • $1,215Total interest expense
  • $4,246Net interest income
  • $1,980Provision for loan and lease losses
  • -$1,450Total noninterest income
  • $0Fiduciary activities
  • $163Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,613Additional noninterest income
  • $4,783Total noninterest expense
  • $1,845Salaries and employee benefits
  • $565Premises and equipment expense
  • $2,373Additional noninterest expense
  • -$3,967Pre-tax net operating income
  • $0Securities gains (losses)
  • $7Applicable income taxes
  • -$3,974Income before extraordinary items
  • $0Extraordinary gains - net
  • -$3,974Net income attributable to bank
  • $0Net charge-offs
  • -$3,974Cash dividends
  • $4,521Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.49%Yield on earning assets
  • 1.22%Cost of funding earning assets
  • 4.27%Net interest margin
  • -1.46%Noninterest income to earning assets
  • 4.81%Noninterest expense to earning assets
  • -3.47%Net operating income to assets
  • -3.47%Return on assets (ROA)
  • -3.46%Pretax return on assets
  • -59.02%Return on equity (ROE)
  • -59.02%Retained earnings to average equity (YTD only)
  • 5.08%Net charge-offs to loans
  • 43.80%Credit loss provision to net charge-offs
  • -0.44%Efficiency ratio
  • 171,066Assets per employee
  • 4.25%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.74%Loss allowance to noncurrent loans
  • 26.33%Noncurrent assets plus other real estate owned to assets
  • 16.28%Noncurrent loans to loans
  • 10.41%Net loans and leases to deposits
  • 83.39%Net loans and leases to core deposits
  • 95.61%Equity capital to assets
  • 3.48%Core capital (leverage) ratio
  • 3.36%Tier 1 risk-based capital ratio
  • 4.21%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $114,597Average earning assets
  • $6,733Average equity
  • $99,524Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    075645Boundary Waters Bank601 East Sheridan Street, Ely, MN 55731April 01, 1999Full Service Brick and Mortar
    1360702Blaine Branch11800 Aberdeen Street N.E., Blaine, MN 55434August 01, 2000Full Service Brick and Mortar
    2425118Woodbury Branch2230 Eagle Creek Lane, Woodbury, MN 55125December 15, 2003Full Service Brick and Mortar

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