Drake Bank in Saint Paul, Minnesota (MN)



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Drake Bank
GeneralFDIC Certificate #: 57336
Status: Active
Federal Reserve ID: 3090833
Bank Holding Company (Regulatory Top Holder): Plato Holdings, Inc. (RSSDID: 3090842, Location: Saint Paul, MN)
Date Established: May 01, 2002
WWW: http://www.drake-bank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 362102
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: May 01, 2002
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: 60 Plato Boulevard, Suite 100, Saint Paul, MN 55107
County: Ramsey
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: $80.6 mil
Equity capital: $8.0 mil
Deposits held in domestic offices: $66.8 mil
Return on assets (ROA): -0.37% (-$0.3 mil)
Quarterly return on assets: -1.28% (-$1.0 mil)
Return on Equity (ROE): -3.74% (-$0.3 mil)
Quarterly return on equity: -12.81% (-$1.0 mil)
Net income: -$0.3 mil
Quarterly Net income: -$0.3 mil
Pretax return on assets: -0.37% (-$298.2 mil)
Quarterly Pretax return on assets: -1.28% (-$1,031.6 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)17
Total assets$80,590
Cash and due from depository institutions$3,253
Interest-bearing balances$845
Securities$5,259
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$69,311
Loan loss allowance $1,492
Trading account assets$0
Bank premises and fixed assets$290
Other real estate owned$1,562
Goodwill and other intangibles$0
All other assets$915
Life insurance assets$80,589
Total liabilities and capital$72,602
Total liabilities$66,797
Total deposits$51,920
Interest-bearing deposits$66,797
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,500
Other borrowed funds $0
Subordinated debt $305
All other liabilities $7,987
Total equity capital$7,987
Total bank equity capital$7,987
Perpetual preferred stock$0
Common stock$200
Surplus$8,038
Undivided profits $-251
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 $5,330
Earning assets $662
Long-term assets (5+ years) $272
Average Assets, year-to-date $75,415
Average Assets, quarterly $6,809
Volatile liabilities $82,776
Insider loans $81,536
FHLB advances $62,022
Loans and leases held for sale $82,142
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $7,977
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,256
Derivatives$1,397
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,564
Total interest expense $745
Net interest income $3,819
Provision for loan and lease losses $1,376
Total noninterest income -$173
Fiduciary activities $0
Service charges on deposit accounts $164
Trading account gains & fees $0
Additional noninterest income -$337
Total noninterest expense $2,633
Salaries and employee benefits $1,284
Premises and equipment expense $370
Additional noninterest expense $979
Pre-tax net operating income -$363
Securities gains (losses) $54
Applicable income taxes $0
Income before extraordinary items -$309
Extraordinary gains - net $0
Net income attributable to bank -$309
Net charge-offs $0
Cash dividends -$309
Sale, conversion, retirement of capital stock, net $1,303
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 assets6.03%
Cost of funding earning assets 0.98%
Net interest margin 5.05%
Noninterest income to earning assets -0.23%
Noninterest expense to earning assets 3.48%
Net operating income to assets -0.44%
Return on assets (ROA) -0.37%
Pretax return on assets -0.37%
Return on equity (ROE) -3.74%
Retained earnings to average equity (YTD only) -3.74%
Net charge-offs to loans 1.84%
Credit loss provision to net charge-offs 105.60%
Efficiency ratio0.78%
Assets per employee$72,216
Cash dividends to net income (YTD only)4.74%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.11%
Noncurrent assets plus other real estate owned to assets 27.99%
Noncurrent loans to loans 8.55%
Net loans and leases to deposits7.53%
Net loans and leases to core deposits 103.76%
Equity capital to assets 109.32%
Core capital (leverage) ratio 9.91%
Tier 1 risk-based capital ratio 9.71%
Total risk-based capital ratio 12.86%
Memoranda
Average assets$14
Average earning assets$82,776
Average equity $8,269
Average loans $75,687
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0362102Drake Bank60 Plato Boulevard, Suite 100, Saint Paul, MN 55107May 01, 2002Full Service Brick and Mortar
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