Choice Financial Savings Bank in Comfrey, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Choice Financial Savings Bank in Comfrey, Minnesota (MN)
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Choice Financial Savings Bank - Overview

  • General
  • FDIC Certificate #: 12197
    Status: Active
    Federal Reserve ID: 281751
    Bank Holding Company (Regulatory Top Holder): Choice Financial Holdings, Inc. (RSSDID: 1125030, Location: Grafton, ND)
    Date Established: April 01, 1908
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 18002
    FDIC's unique #: 7747
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: September 15, 2005
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 101 Brown Street West, Comfrey, MN 56019
    County: Brown
    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
    Core Based Statistical Area (CBSA): New Ulm, MN (#35580)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $15.0 mil
    Equity capital: $2.0 mil
    Deposits held in domestic offices: $12.9 mil
    Return on assets (ROA): 0.70% ($0.1 mil)
    Quarterly return on assets: 0.36% ($0.1 mil)
    Return on Equity (ROE): 5.66% ($0.1 mil)
    Quarterly return on equity: 2.75% ($0.1 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 1.03% ($154.3 mil)
    Quarterly Pretax return on assets: 0.52% ($77.9 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
  • 4Total employees (full-time equivalent)
  • $14,981Total assets
  • $940Cash and due from depository institutions
  • $25Interest-bearing balances
  • $5,611Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $7,496Net loans & leases
  • $112Loan loss allowance
  • $0Trading account assets
  • $75Bank premises and fixed assets
  • $0Other real estate owned
  • $425Goodwill and other intangibles
  • $14,981Life insurance assets
  • $434All other assets
  • $12,948Total liabilities and capital
  • $12,850Total liabilities
  • $10,894Total deposits
  • $12,850Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $98Subordinated debt
  • $2,033All other liabilities
  • $2,033Total equity capital
  • $2,033Total bank equity capital
  • $0Perpetual preferred stock
  • $120Common stock
  • $2,861Surplus
  • $-948Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $334Income earned, not collected on loans
  • $0Earning assets
  • $128Long-term assets (5+ years)
  • $13,132Average Assets, year-to-date
  • $5,467Average Assets, quarterly
  • $15,763Volatile liabilities
  • $15,367Insider loans
  • $8,709FHLB advances
  • $14,457Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $1,472Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $758Restructured Loans and leases
  • $634Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $623Total interest income
  • $113Total interest expense
  • $510Net interest income
  • -$90Provision for loan and lease losses
  • $55Total noninterest income
  • $0Fiduciary activities
  • $49Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6Additional noninterest income
  • $493Total noninterest expense
  • $214Salaries and employee benefits
  • $55Premises and equipment expense
  • $224Additional noninterest expense
  • $162Pre-tax net operating income
  • $0Securities gains (losses)
  • $51Applicable income taxes
  • $111Income before extraordinary items
  • $0Extraordinary gains - net
  • $111Net income attributable to bank
  • $0Net charge-offs
  • $111Cash dividends
  • -$62Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.61%Yield on earning assets
  • 0.84%Cost of funding earning assets
  • 3.77%Net interest margin
  • 0.41%Noninterest income to earning assets
  • 3.65%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 1.03%Pretax return on assets
  • 5.66%Return on equity (ROE)
  • 5.66%Retained earnings to average equity (YTD only)
  • -0.79%Net charge-offs to loans
  • 145.16%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 83,894Assets per employee
  • 3.75%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.47%Loss allowance to noncurrent loans
  • 33.53%Noncurrent assets plus other real estate owned to assets
  • 2.23%Noncurrent loans to loans
  • 4.39%Net loans and leases to deposits
  • 58.33%Net loans and leases to core deposits
  • 62.25%Equity capital to assets
  • 13.57%Core capital (leverage) ratio
  • 10.18%Tier 1 risk-based capital ratio
  • 16.90%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $15,763Average earning assets
  • $1,963Average equity
  • $13,514Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07747Choice Financial Savings Bank101 Brown Street West, Comfrey, MN 56019April 01, 1908Full Service Brick and Mortar

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