Citizens Independent Bank in Saint Louis Park, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

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

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 68Total employees (full-time equivalent)
  • $304,103Total assets
  • $6,368Cash and due from depository institutions
  • $117Interest-bearing balances
  • $65,472Securities
  • $1,000Federal funds sold & reverse repurchase agreements
  • $217,596Net loans & leases
  • $6,640Loan loss allowance
  • $0Trading account assets
  • $2,307Bank premises and fixed assets
  • $7,496Other real estate owned
  • $0Goodwill and other intangibles
  • $304,103Life insurance assets
  • $3,864All other assets
  • $278,096Total liabilities and capital
  • $248,164Total liabilities
  • $225,695Total deposits
  • $248,164Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $29,692Trading liabilities
  • $0Other borrowed funds
  • $240Subordinated debt
  • $26,007All other liabilities
  • $26,007Total equity capital
  • $26,007Total bank equity capital
  • $0Perpetual preferred stock
  • $600Common stock
  • $33,400Surplus
  • $-7,993Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,273Income earned, not collected on loans
  • $0Earning assets
  • $1,085Long-term assets (5+ years)
  • $284,185Average Assets, year-to-date
  • $123,168Average Assets, quarterly
  • $304,550Volatile liabilities
  • $307,225Insider loans
  • $220,404FHLB advances
  • $311,132Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $25,527Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,316Restructured Loans and leases
  • $3,255Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $13,762Total interest income
  • $3,073Total interest expense
  • $10,689Net interest income
  • $2,230Provision for loan and lease losses
  • $1,458Total noninterest income
  • $0Fiduciary activities
  • $817Service charges on deposit accounts
  • $0Trading account gains & fees
  • $641Additional noninterest income
  • $10,028Total noninterest expense
  • $4,455Salaries and employee benefits
  • $2,359Premises and equipment expense
  • $3,214Additional noninterest expense
  • -$111Pre-tax net operating income
  • $214Securities gains (losses)
  • $0Applicable income taxes
  • $103Income before extraordinary items
  • $0Extraordinary gains - net
  • $103Net income attributable to bank
  • $0Net charge-offs
  • $103Cash dividends
  • $1,864Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.87%Yield on earning assets
  • 1.09%Cost of funding earning assets
  • 3.78%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 3.55%Noninterest expense to earning assets
  • -0.04%Net operating income to assets
  • 0.03%Return on assets (ROA)
  • 0.03%Pretax return on assets
  • 0.40%Return on equity (ROE)
  • 0.40%Retained earnings to average equity (YTD only)
  • 0.80%Net charge-offs to loans
  • 119.64%Credit loss provision to net charge-offs
  • 1.14%Efficiency ratio
  • 82,555Assets per employee
  • 4.47%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.96%Loss allowance to noncurrent loans
  • 58.90%Noncurrent assets plus other real estate owned to assets
  • 6.17%Noncurrent loans to loans
  • 5.03%Net loans and leases to deposits
  • 87.68%Net loans and leases to core deposits
  • 87.68%Equity capital to assets
  • 8.55%Core capital (leverage) ratio
  • 8.20%Tier 1 risk-based capital ratio
  • 11.58%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $304,550Average earning assets
  • $25,487Average equity
  • $282,525Average loans

List of branches

  • 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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