Citizens Alliance Bank in Clara City, Minnesota (MN)



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Citizens Alliance Bank
GeneralFDIC Certificate #: 1402
Status: Active
Federal Reserve ID: 279954
Bank Holding Company (Regulatory Top Holder): Forstrom Bancorporation, Inc. (RSSDID: 1128134, Location: Clara City, MN)
Date Established: July 02, 1902
WWW: http://www.cabankmn.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 #: 15367
FDIC's unique #: 924
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 15, 2011
Last Structure Change Process Date: November 23, 2011
Last Data Update: November 23, 2011
Data Source Date: April 05, 2012
LocationAddress: 55 First Street Northwest, Clara City, MN 56222
County: Chippewa
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
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $429.2 mil
Equity capital: $45.1 mil
Deposits held in domestic offices: $360.6 mil
Return on assets (ROA): 0.64% ($2.7 mil)
Quarterly return on assets: 1.17% ($5.0 mil)
Return on Equity (ROE): 6.25% ($2.8 mil)
Quarterly return on equity: 11.24% ($5.1 mil)
Net income: $2.7 mil
Quarterly Net income: $1.3 mil
Pretax return on assets: 0.64% ($2,746.6 mil)
Quarterly Pretax return on assets: 1.18% ($5,064.0 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)69
Total assets$429,154
Cash and due from depository institutions$24,408
Interest-bearing balances$14,037
Securities$79,264
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$289,088
Loan loss allowance $3,889
Trading account assets$0
Bank premises and fixed assets$10,757
Other real estate owned$11,260
Goodwill and other intangibles$5,938
All other assets$8,439
Life insurance assets$429,154
Total liabilities and capital$384,024
Total liabilities$360,565
Total deposits$283,977
Interest-bearing deposits$360,565
Deposits held in domestic offices$80
% insured (estimated)2696.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$19,795
Other borrowed funds $0
Subordinated debt $968
All other liabilities $45,130
Total equity capital$45,130
Total bank equity capital$45,130
Perpetual preferred stock$0
Common stock$495
Surplus$35,399
Undivided profits $9,236
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 $2,721
Earning assets $79
Long-term assets (5+ years) $2,913
Average Assets, year-to-date $382,389
Average Assets, quarterly $75,217
Volatile liabilities $422,945
Insider loans $427,320
FHLB advances $345,633
Loans and leases held for sale $419,580
Unused loan commitments $1,896
Tier 1 (core) risk-based capital $1,896
Tier 2 risk-based capital $37,012
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $102,987
Derivatives$2,543
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $18,692
Total interest expense $4,428
Net interest income $14,264
Provision for loan and lease losses $2,218
Total noninterest income -$1,326
Fiduciary activities $0
Service charges on deposit accounts $796
Trading account gains & fees $0
Additional noninterest income -$2,122
Total noninterest expense $8,121
Salaries and employee benefits $3,377
Premises and equipment expense $1,238
Additional noninterest expense $3,506
Pre-tax net operating income $2,599
Securities gains (losses) $116
Applicable income taxes $7
Income before extraordinary items $2,708
Extraordinary gains - net $0
Net income attributable to bank $2,708
Net charge-offs $0
Cash dividends $2,708
Sale, conversion, retirement of capital stock, net $2,716
Net operating income $1,781
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.97%
Cost of funding earning assets 1.18%
Net interest margin 3.79%
Noninterest income to earning assets -0.35%
Noninterest expense to earning assets 2.16%
Net operating income to assets 0.61%
Return on assets (ROA) 0.64%
Pretax return on assets 0.64%
Return on equity (ROE) 6.25%
Retained earnings to average equity (YTD only) 2.14%
Net charge-offs to loans 0.95%
Credit loss provision to net charge-offs 81.66%
Efficiency ratio1.77%
Assets per employee$62,769
Cash dividends to net income (YTD only)6.22%
Condition Ratios (%)
Loss allowance to loans 65.77%
Loss allowance to noncurrent loans 1.33%
Noncurrent assets plus other real estate owned to assets 142.93%
Noncurrent loans to loans 3.26%
Net loans and leases to deposits0.93%
Net loans and leases to core deposits 80.18%
Equity capital to assets 88.35%
Core capital (leverage) ratio 10.52%
Tier 1 risk-based capital ratio 8.82%
Total risk-based capital ratio 10.71%
Memoranda
Average assets$12
Average earning assets$422,945
Average equity $43,320
Average loans $375,897
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7 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0924Citizens Alliance Bank55 First Street Northwest, Clara City, MN 56222July 02, 1902Full Service Brick and Mortar
211019Maynard Branch330 Cynthia Street, Maynard, MN 56260January 01, 1936Full Service Brick and Mortar
5926Lake Lillian BranchMain Street, Lake Lillian, MN 56253April 09, 1914Full Service Brick and Mortar
65649Granite Falls Branch860 Highway 212 West, Granite Falls, MN 56241December 27, 1887Full Service Brick and Mortar
810855Echo Branch631 2nd Avenue West, Echo, MN 56237May 02, 1936Full Service Brick and Mortar
96545Security State Bank Of Howard Lake B900 Sixth Street, Howard Lake, MN 55349September 15, 1915Full Service Brick and Mortar
10441493Watertown Office204 Lewis Avenue South, Watertown, MN 55388July 05, 2005Full Service Brick and Mortar
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