Citizens Alliance Bank in Clara City, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Citizens Alliance Bank - Overview

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total 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
  • 69Total employees (full-time equivalent)
  • $429,154Total assets
  • $24,408Cash and due from depository institutions
  • $14,037Interest-bearing balances
  • $79,264Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $289,088Net loans & leases
  • $3,889Loan loss allowance
  • $0Trading account assets
  • $10,757Bank premises and fixed assets
  • $11,260Other real estate owned
  • $5,938Goodwill and other intangibles
  • $429,154Life insurance assets
  • $8,439All other assets
  • $384,024Total liabilities and capital
  • $360,565Total liabilities
  • $283,977Total deposits
  • $360,565Interest-bearing deposits
  • $80Deposits held in domestic offices
  • 2696.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $19,795Trading liabilities
  • $0Other borrowed funds
  • $968Subordinated debt
  • $45,130All other liabilities
  • $45,130Total equity capital
  • $45,130Total bank equity capital
  • $0Perpetual preferred stock
  • $495Common stock
  • $35,399Surplus
  • $9,236Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,721Income earned, not collected on loans
  • $79Earning assets
  • $2,913Long-term assets (5+ years)
  • $382,389Average Assets, year-to-date
  • $75,217Average Assets, quarterly
  • $422,945Volatile liabilities
  • $427,320Insider loans
  • $345,633FHLB advances
  • $419,580Loans and leases held for sale
  • $1,896Unused loan commitments
  • $1,896Tier 1 (core) risk-based capital
  • $37,012Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $102,987Restructured Loans and leases
  • $2,543Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $18,692Total interest income
  • $4,428Total interest expense
  • $14,264Net interest income
  • $2,218Provision for loan and lease losses
  • -$1,326Total noninterest income
  • $0Fiduciary activities
  • $796Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$2,122Additional noninterest income
  • $8,121Total noninterest expense
  • $3,377Salaries and employee benefits
  • $1,238Premises and equipment expense
  • $3,506Additional noninterest expense
  • $2,599Pre-tax net operating income
  • $116Securities gains (losses)
  • $7Applicable income taxes
  • $2,708Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,708Net income attributable to bank
  • $0Net charge-offs
  • $2,708Cash dividends
  • $2,716Sale, conversion, retirement of capital stock, net
  • $1,781Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.97%Yield on earning assets
  • 1.18%Cost of funding earning assets
  • 3.79%Net interest margin
  • -0.35%Noninterest income to earning assets
  • 2.16%Noninterest expense to earning assets
  • 0.61%Net operating income to assets
  • 0.64%Return on assets (ROA)
  • 0.64%Pretax return on assets
  • 6.25%Return on equity (ROE)
  • 2.14%Retained earnings to average equity (YTD only)
  • 0.95%Net charge-offs to loans
  • 81.66%Credit loss provision to net charge-offs
  • 1.77%Efficiency ratio
  • 62,769Assets per employee
  • 6.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 65.77%Loss allowance to loans
  • 1.33%Loss allowance to noncurrent loans
  • 142.93%Noncurrent assets plus other real estate owned to assets
  • 3.26%Noncurrent loans to loans
  • 0.93%Net loans and leases to deposits
  • 80.18%Net loans and leases to core deposits
  • 88.35%Equity capital to assets
  • 10.52%Core capital (leverage) ratio
  • 8.82%Tier 1 risk-based capital ratio
  • 10.71%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $422,945Average earning assets
  • $43,320Average equity
  • $375,897Average loans

List of branches

  • 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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