Department Stores National Bank in Sioux Falls, South Dakota (SD)

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Department Stores National Bank
GeneralFDIC Certificate #: 58180
Status: Active
Federal Reserve ID: 3382547
Bank Holding Company (Regulatory Top Holder): Citigroup Inc. (RSSDID: 1951350, Location: New York, NY)
Date Established: October 24, 2005
Trust Powers Granted: No
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 441397
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Directly owned by another bank (CERT): #58180
Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
Date of Deposit Insurance: October 24, 2005
Last Structure Change Effective Date: November 23, 2008
Last Structure Change Process Date: March 04, 2009
Last Data Update: March 04, 2009
Data Source Date: April 05, 2012
LocationAddress: 701 East 60th Street, Sioux Falls, SD 57104
County: Minnehaha
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: New York
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Sioux Falls, SD (#7760)
Core Based Statistical Area (CBSA): Sioux Falls, SD (#43620)
CBSA Metro Statistical Area: Sioux Falls, SD (#43620)
History of ChangesParticipated in Open Bank Assistance
Financial SummaryTotal assets: $392.4 mil
Equity capital: $55.0 mil
Deposits held in domestic offices: $300.5 mil
Return on assets (ROA): 2.49% ($9.8 mil)
Quarterly return on assets: 8.76% ($34.3 mil)
Return on Equity (ROE): 19.51% ($10.7 mil)
Quarterly return on equity: 66.50% ($36.6 mil)
Net income: $9.5 mil
Quarterly Net income: $8.4 mil
Pretax return on assets: 3.52% ($13,812.4 mil)
Quarterly Pretax return on assets: 12.23% ($47,990.3 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$392,398
Cash and due from depository institutions$239
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$281,656
Net loans & leases$95,271
Loan loss allowance $5,418
Trading account assets$0
Bank premises and fixed assets$0
Other real estate owned$0
Goodwill and other intangibles$3,987
All other assets$11,245
Life insurance assets$392,398
Total liabilities and capital$337,356
Total liabilities$300,515
Total deposits$300,000
Interest-bearing deposits$300,515
Deposits held in domestic offices$1
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $36,841
All other liabilities $55,042
Total equity capital$55,042
Total bank equity capital$55,042
Perpetual preferred stock$0
Common stock$0
Undivided profits $26,042
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 $1,348
Earning assets $0
Long-term assets (5+ years) $2
Average Assets, year-to-date $376,927
Average Assets, quarterly $0
Volatile liabilities $379,243
Insider loans $385,640
FHLB advances $167,397
Loans and leases held for sale $456,945
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $55,042
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $83,528,349
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $16,266
Total interest expense $5,352
Net interest income $10,914
Provision for loan and lease losses $1,139
Total noninterest income $6,879
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $6,879
Total noninterest expense $3,301
Salaries and employee benefits $0
Premises and equipment expense $0
Additional noninterest expense $3,301
Pre-tax net operating income $13,353
Securities gains (losses) $0
Applicable income taxes $3,894
Income before extraordinary items $9,459
Extraordinary gains - net $0
Net income attributable to bank $9,459
Net charge-offs $0
Cash dividends $9,459
Sale, conversion, retirement of capital stock, net $3,073
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 assets4.68%
Cost of funding earning assets 1.54%
Net interest margin 3.14%
Noninterest income to earning assets 1.98%
Noninterest expense to earning assets 0.95%
Net operating income to assets 2.49%
Return on assets (ROA) 2.49%
Pretax return on assets 3.52%
Return on equity (ROE) 19.51%
Retained earnings to average equity (YTD only) 19.51%
Net charge-offs to loans 3.78%
Credit loss provision to net charge-offs 37.06%
Efficiency ratio4.72%
Assets per employee$15,264
Cash dividends to net income (YTD only)0.00%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.38%
Noncurrent assets plus other real estate owned to assets 401.93%
Noncurrent loans to loans 0.34%
Net loans and leases to deposits1.34%
Net loans and leases to core deposits 31.70%
Equity capital to assets 18499.22%
Core capital (leverage) ratio 14.03%
Tier 1 risk-based capital ratio 12.05%
Total risk-based capital ratio 32.88%
Average assets$34
Average earning assets$379,243
Average equity $48,474
Average loans $347,868
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1 South Dakota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0441397Department Stores National Bank701 East 60th Street, Sioux Falls, SD 57104October 24, 2005Full Service Brick and Mortar
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