Dairy State Bank in Rice Lake, Wisconsin (WI)



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Dairy State Bank
GeneralFDIC Certificate #: 17162
Status: Active
Federal Reserve ID: 57451
Bank Holding Company (Regulatory Top Holder): Dairy State Bancorp, Inc. (RSSDID: 1126121, Location: Rice Lake, WI)
Date Established: January 02, 1953
WWW: http://www.dairystatebank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Domestic: 10, Interstate: No)
OTS Docket #: 10201
FDIC's unique #: 11198
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: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 02, 1953
Last Structure Change Effective Date: Febuary 29, 2008
Last Structure Change Process Date: March 11, 2008
Last Data Update: March 11, 2008
Data Source Date: April 05, 2012
LocationAddress: 16 South Main Street, Rice Lake, WI 54868
County: Barron
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Eau Claire
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
History of ChangesOffice Purchased
Financial SummaryTotal assets: $453.0 mil
Equity capital: $47.5 mil
Deposits held in domestic offices: $339.2 mil
Return on assets (ROA): 0.72% ($3.3 mil)
Quarterly return on assets: 0.74% ($3.4 mil)
Return on Equity (ROE): 7.13% ($3.4 mil)
Quarterly return on equity: 7.04% ($3.4 mil)
Net income: $3.3 mil
Quarterly Net income: $0.8 mil
Pretax return on assets: 1.02% ($4,620.6 mil)
Quarterly Pretax return on assets: 1.12% ($5,073.6 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)90
Total assets$452,997
Cash and due from depository institutions$12,650
Interest-bearing balances$6,180
Securities$227,502
Federal funds sold & reverse repurchase agreements$1,382
Net loans & leases$198,568
Loan loss allowance $6,784
Trading account assets$0
Bank premises and fixed assets$4,764
Other real estate owned$3,006
Goodwill and other intangibles$0
All other assets$5,125
Life insurance assets$452,997
Total liabilities and capital$405,493
Total liabilities$339,226
Total deposits$290,844
Interest-bearing deposits$339,226
Deposits held in domestic offices$86
% insured (estimated)50504.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12,200
Other borrowed funds $0
Subordinated debt $3,563
All other liabilities $47,504
Total equity capital$47,504
Total bank equity capital$47,504
Perpetual preferred stock$0
Common stock$612
Surplus$18,197
Undivided profits $28,695
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $112
Income earned, not collected on loans $5,821
Earning assets $0
Long-term assets (5+ years) $2,057
Average Assets, year-to-date $433,632
Average Assets, quarterly $188,160
Volatile liabilities $454,620
Insider loans $450,878
FHLB advances $233,282
Loans and leases held for sale $470,228
Unused loan commitments $596
Tier 1 (core) risk-based capital $596
Tier 2 risk-based capital $44,369
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $32,994
Derivatives$4,414
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $18,225
Total interest expense $4,395
Net interest income $13,830
Provision for loan and lease losses $2,440
Total noninterest income $1,179
Fiduciary activities $0
Service charges on deposit accounts $467
Trading account gains & fees $0
Additional noninterest income $712
Total noninterest expense $7,969
Salaries and employee benefits $4,584
Premises and equipment expense $1,098
Additional noninterest expense $2,287
Pre-tax net operating income $4,600
Securities gains (losses) $18
Applicable income taxes $1,346
Income before extraordinary items $3,272
Extraordinary gains - net $0
Net income attributable to bank $3,272
Net charge-offs $0
Cash dividends $3,272
Sale, conversion, retirement of capital stock, net $797
Net operating income $459
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.17%
Cost of funding earning assets 1.01%
Net interest margin 3.16%
Noninterest income to earning assets 0.27%
Noninterest expense to earning assets 1.82%
Net operating income to assets 0.72%
Return on assets (ROA) 0.72%
Pretax return on assets 1.02%
Return on equity (ROE) 7.13%
Retained earnings to average equity (YTD only) 6.13%
Net charge-offs to loans 0.36%
Credit loss provision to net charge-offs 306.15%
Efficiency ratio8.83%
Assets per employee$53,095
Cash dividends to net income (YTD only)5.03%
Condition Ratios (%)
Loss allowance to loans 14.03%
Loss allowance to noncurrent loans 3.30%
Noncurrent assets plus other real estate owned to assets 116.54%
Noncurrent loans to loans 1.95%
Net loans and leases to deposits2.83%
Net loans and leases to core deposits 58.54%
Equity capital to assets 60.93%
Core capital (leverage) ratio 10.49%
Tier 1 risk-based capital ratio 9.44%
Total risk-based capital ratio 19.02%
Memoranda
Average assets$20
Average earning assets$454,620
Average equity $45,905
Average loans $437,078
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10 Wisconsin Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011198Dairy State Bank16 South Main Street, Rice Lake, WI 54868January 02, 1953Full Service Brick and Mortar
11618Birchwood Branch124 N. Main Street, Birchwood, WI 54817May 07, 1919Full Service Brick and Mortar
2192679Haugen Branch103 Third Street, Haugen, WI 54841June 01, 1972Full Service Brick and Mortar
36405Prairie Farm Branch100 Hepburn Street East, Prairie Farm, WI 54762March 18, 1908Full Service Brick and Mortar
4235804Downtown Branch600 Second Street, Menomonie, WI 54751May 11, 1964Limited Service Facility
5235805Downsville BranchE4491 County Road C, Downsville, WI 54735April 24, 1972Full Service Brick and Mortar
6235806Wheeler Branch100 S. Highway 25, Wheeler, WI 54772June 01, 1972Full Service Brick and Mortar
8441490Colfax Branch101 South Main Street, Colfax, WI 54730July 07, 2005Full Service Brick and Mortar
9454906North Menomonie Branch2320 Hiway 25 North, Menomonie, WI 54751August 24, 2006Limited Service Facility
10473044Menomonie Branch2405 Schneider Avenue, Menomonie, WI 54751Febuary 29, 2008Full Service Brick and Mortar
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