Citizens Independent Bank in Saint Louis Park, Minnesota (MN)



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Table of contents:
Citizens Independent Bank
GeneralFDIC Certificate #: 16863
Status: Active
Federal Reserve ID: 825753
Bank Holding Company (Regulatory Top Holder): Bakken Securities, Inc. (RSSDID: 1129029, Location: Saint Louis Park, MN)
Date Established: January 16, 1950
WWW: http://www.bankcib.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 10604
FDIC's unique #: 10960
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 16, 1950
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
LocationAddress: 5000 West 36th Street, Saint Louis Park, MN 55416
County: Hennepin
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): Minneapolis-St. Paul, MN-WI (#5120)
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $304.1 mil
Equity capital: $26.0 mil
Deposits held in domestic offices: $248.2 mil
Return on assets (ROA): 0.03% ($0.1 mil)
Quarterly return on assets: -0.20% (-$0.6 mil)
Return on Equity (ROE): 0.40% ($0.1 mil)
Quarterly return on equity: -2.35% (-$0.6 mil)
Net income: $0.1 mil
Quarterly Net income: -$0.2 mil
Pretax return on assets: 0.03% ($91.2 mil)
Quarterly Pretax return on assets: -0.20% (-$608.2 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)68
Total assets$304,103
Cash and due from depository institutions$6,368
Interest-bearing balances$117
Securities$65,472
Federal funds sold & reverse repurchase agreements$1,000
Net loans & leases$217,596
Loan loss allowance $6,640
Trading account assets$0
Bank premises and fixed assets$2,307
Other real estate owned$7,496
Goodwill and other intangibles$0
All other assets$3,864
Life insurance assets$304,103
Total liabilities and capital$278,096
Total liabilities$248,164
Total deposits$225,695
Interest-bearing deposits$248,164
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$29,692
Other borrowed funds $0
Subordinated debt $240
All other liabilities $26,007
Total equity capital$26,007
Total bank equity capital$26,007
Perpetual preferred stock$0
Common stock$600
Surplus$33,400
Undivided profits $-7,993
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 $11,273
Earning assets $0
Long-term assets (5+ years) $1,085
Average Assets, year-to-date $284,185
Average Assets, quarterly $123,168
Volatile liabilities $304,550
Insider loans $307,225
FHLB advances $220,404
Loans and leases held for sale $311,132
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $25,527
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,316
Derivatives$3,255
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,762
Total interest expense $3,073
Net interest income $10,689
Provision for loan and lease losses $2,230
Total noninterest income $1,458
Fiduciary activities $0
Service charges on deposit accounts $817
Trading account gains & fees $0
Additional noninterest income $641
Total noninterest expense $10,028
Salaries and employee benefits $4,455
Premises and equipment expense $2,359
Additional noninterest expense $3,214
Pre-tax net operating income -$111
Securities gains (losses) $214
Applicable income taxes $0
Income before extraordinary items $103
Extraordinary gains - net $0
Net income attributable to bank $103
Net charge-offs $0
Cash dividends $103
Sale, conversion, retirement of capital stock, net $1,864
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.87%
Cost of funding earning assets 1.09%
Net interest margin 3.78%
Noninterest income to earning assets 0.52%
Noninterest expense to earning assets 3.55%
Net operating income to assets -0.04%
Return on assets (ROA) 0.03%
Pretax return on assets 0.03%
Return on equity (ROE) 0.40%
Retained earnings to average equity (YTD only) 0.40%
Net charge-offs to loans 0.80%
Credit loss provision to net charge-offs 119.64%
Efficiency ratio1.14%
Assets per employee$82,555
Cash dividends to net income (YTD only)4.47%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.96%
Noncurrent assets plus other real estate owned to assets 58.90%
Noncurrent loans to loans 6.17%
Net loans and leases to deposits5.03%
Net loans and leases to core deposits 87.68%
Equity capital to assets 87.68%
Core capital (leverage) ratio 8.55%
Tier 1 risk-based capital ratio 8.20%
Total risk-based capital ratio 11.58%
Memoranda
Average assets$13
Average earning assets$304,550
Average equity $25,487
Average loans $282,525
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4 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
010960Citizens Independent Bank5000 West 36th Street, Saint Louis Park, MN 55416January 16, 1950Full Service Brick and Mortar
213071Robbinsdale Main Branch3700 West Broadway, Robbinsdale, MN 55422October 26, 1964Full Service Brick and Mortar
3239179Hopkins Branch10901 Excelsior Boulevard, Hopkins, MN 55343January 01, 2000Full Service Brick and Mortar
4362596Plymouth Branch15600 36th Avenue North, Plymouth, MN 55446July 23, 2001Full Service Brick and Mortar
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