CountryBank USA in Cando, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 08, 2010

CountryBank USA in Cando, North Dakota (ND)
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CountryBank USA - Overview

General
FDIC Certificate #: 19765
Status: Inactive
Closing history: Absorption - Without Assistance
Acquiring institution: Scandia American Bank & Trust (#8639)
Federal Reserve ID: 794251
Date Established: November 13, 1967
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 12146
FDIC's unique #: 13559
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: November 13, 1967
Last Structure Change Effective Date: January 08, 2010
Last Structure Change Process Date: January 27, 2010
Last Data Update: January 27, 2010
Data Source Date: April 05, 2012
Location
Address: 505 Fourth Street, Cando, ND 58324
County: Towner
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial Summary
Total assets: $48.1 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, 2009)

Dollar figures in thousands
26Total employees (full-time equivalent)
$48,149Total assets
$6,097Cash and due from depository institutions
$3,857Interest-bearing balances
$6,619Securities
$6,625Federal funds sold & reverse repurchase agreements
$26,012Net loans & leases
$267Loan loss allowance
$0Trading account assets
$1,221Bank premises and fixed assets
$80Other real estate owned
$552Goodwill and other intangibles
$0Life insurance assets
$943All other assets
$48,149Total liabilities and capital
$43,389Total liabilities
$40,725Total deposits
$38,046Interest-bearing deposits
$40,725Deposits held in domestic offices
96.97%% insured (estimated)
$175Federal funds purchased & repurchase agreements
$0Trading liabilities
$2,240Other borrowed funds
$0Subordinated debt
$249All other liabilities
$4,760Total equity capital
$4,760Total bank equity capital
$4,760Perpetual preferred stock
$0Common stock
$500Surplus
$1,700Undivided profits
Memoranda
$2,560Noncurrent loans and leases
$4,219Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$245Earning assets
$0Long-term assets (5+ years)
$446Average Assets, year-to-date
$43,113Average Assets, quarterly
$8,566Volatile liabilities
$46,822Insider loans
$47,537FHLB advances
$7,313Loans and leases held for sale
$632Unused loan commitments
$2,240Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$419Total risk weighted assets
$4,219Total unused commitments
$0Restructured Loans and leases
$267Derivatives

Income and Expense (December 31, 2009)

Dollar figures in thousands
$2,287Total interest income
$781Total interest expense
$1,506Net interest income
$36Provision for loan and lease losses
$1,170Total noninterest income
$0Fiduciary activities
$161Service charges on deposit accounts
$0Trading account gains & fees
$1,009Additional noninterest income
$2,316Total noninterest expense
$1,512Salaries and employee benefits
$201Premises and equipment expense
$603Additional noninterest expense
$324Pre-tax net operating income
$0Securities gains (losses)
$23Applicable income taxes
$301Income before extraordinary items
$0Extraordinary gains - net
$301Net income attributable to bank
$0Net charge-offs
$301Cash dividends
$126Sale, conversion, retirement of capital stock, net
$32Net operating income

Performance and Condition Ratios (December 31, 2009)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.36%Yield on earning assets
1.83%Cost of funding earning assets
3.53%Net interest margin
2.74%Noninterest income to earning assets
5.43%Noninterest expense to earning assets
0.64%Net operating income to assets
0.64%Return on assets (ROA)
0.69%Pretax return on assets
6.53%Return on equity (ROE)
5.84%Retained earnings to average equity (YTD only)
0.46%Net charge-offs to loans
28.57%Credit loss provision to net charge-offs
2.86%Efficiency ratio
85,987Assets per employee
1.85%Cash dividends to net income (YTD only)
Condition Ratios (%)
10.63%Loss allowance to loans
1.02%Loss allowance to noncurrent loans
108.98%Noncurrent assets plus other real estate owned to assets
0.67%Noncurrent loans to loans
0.93%Net loans and leases to deposits
63.87%Net loans and leases to core deposits
76.22%Equity capital to assets
9.89%Core capital (leverage) ratio
8.63%Tier 1 risk-based capital ratio
14.29%Total risk-based capital ratio
Memoranda
$15Average assets
$46,822Average earning assets
$4,609Average equity
$42,672Average loans

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