Center National Bank in Litchfield, Minnesota (MN)
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| Center National Bank | |
|---|---|
| General | FDIC Certificate #: 10976 Status: Active Federal Reserve ID: 1017957 Bank Holding Company (Regulatory Top Holder): Cnb Financial Corporation (RSSDID: 1246494, Location: Litchfield, MN) Date Established: January 01, 1891 WWW: http://www.centernationalbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 7030 Numeric code: 3 Regulator: OCC 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: No Subchapter S Corporations: Yes Asset Concentration Hierarchy: All Other Specialization < 1 Billion 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 |
| Location | Address: 301 North Ramsey Avenue, Litchfield, MN 55355 County: Meeker Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $189.7 mil Equity capital: $19.5 mil Deposits held in domestic offices: $150.2 mil Return on assets (ROA): 1.26% ($2.4 mil) Quarterly return on assets: 1.37% ($2.6 mil) Return on Equity (ROE): 12.47% ($2.4 mil) Quarterly return on equity: 13.29% ($2.5 mil) Net income: $2.4 mil Quarterly Net income: $0.6 mil Pretax return on assets: 1.26% ($2,389.9 mil) Quarterly Pretax return on assets: 1.37% ($2,598.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 36 |
| Total assets | $189,671 |
| Cash and due from depository institutions | $7,917 |
| Interest-bearing balances | $0 |
| Securities | $88,447 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $83,960 |
| Loan loss allowance | $1,266 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,418 |
| Other real estate owned | $687 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,242 |
| Life insurance assets | $189,671 |
| Total liabilities and capital | $170,218 |
| Total liabilities | $150,211 |
| Total deposits | $128,793 |
| Interest-bearing deposits | $150,211 |
| Deposits held in domestic offices | $87 |
| % insured (estimated) | 580.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $18,150 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,277 |
| All other liabilities | $19,453 |
| Total equity capital | $19,453 |
| Total bank equity capital | $19,453 |
| Perpetual preferred stock | $0 |
| Common stock | $1,250 |
| Surplus | $1,250 |
| Undivided profits | $16,953 |
| 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 | $1,403 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $786 |
| Average Assets, year-to-date | $172,407 |
| Average Assets, quarterly | $59,747 |
| Volatile liabilities | $188,146 |
| Insider loans | $188,389 |
| FHLB advances | $114,087 |
| Loans and leases held for sale | $190,323 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $18,704 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $20,903 |
| Derivatives | $1,495 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $8,008 |
| Total interest expense | $1,779 |
| Net interest income | $6,229 |
| Provision for loan and lease losses | $424 |
| Total noninterest income | $811 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $208 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $603 |
| Total noninterest expense | $4,372 |
| Salaries and employee benefits | $2,391 |
| Premises and equipment expense | $610 |
| Additional noninterest expense | $1,371 |
| Pre-tax net operating income | $2,244 |
| Securities gains (losses) | $130 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $2,372 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,372 |
| Net charge-offs | $0 |
| Cash dividends | $2,372 |
| Sale, conversion, retirement of capital stock, net | $298 |
| Net operating income | $1,690 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.62% |
| Cost of funding earning assets | 1.03% |
| Net interest margin | 3.59% |
| Noninterest income to earning assets | 0.47% |
| Noninterest expense to earning assets | 2.52% |
| Net operating income to assets | 1.19% |
| Return on assets (ROA) | 1.26% |
| Pretax return on assets | 1.26% |
| Return on equity (ROE) | 12.47% |
| Retained earnings to average equity (YTD only) | 3.58% |
| Net charge-offs to loans | 0.35% |
| Credit loss provision to net charge-offs | 142.28% |
| Efficiency ratio | 8.95% |
| Assets per employee | $62,102 |
| Cash dividends to net income (YTD only) | 5.27% |
| Condition Ratios (%) | |
| Loss allowance to loans | 71.25% |
| Loss allowance to noncurrent loans | 1.49% |
| Noncurrent assets plus other real estate owned to assets | 90.24% |
| Noncurrent loans to loans | 1.10% |
| Net loans and leases to deposits | 1.65% |
| Net loans and leases to core deposits | 55.89% |
| Equity capital to assets | 56.72% |
| Core capital (leverage) ratio | 10.26% |
| Tier 1 risk-based capital ratio | 9.83% |
| Total risk-based capital ratio | 16.39% |
| Memoranda | |
| Average assets | $18 |
| Average earning assets | $188,146 |
| Average equity | $19,026 |
| Average loans | $173,368 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7030 | Center National Bank | 301 North Ramsey Avenue, Litchfield, MN 55355 | January 01, 1891 | Full Service Brick and Mortar |  |
| 1 | 478562 | Center National Bank Branch | 15705 37th Ave North, Plymouth, MN 55446 | June 02, 2008 | Full Service Brick and Mortar |  |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.