Eastwood Bank in Kasson, Minnesota (MN)



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Eastwood Bank
GeneralFDIC Certificate #: 8208
Status: Active
Federal Reserve ID: 315852
Bank Holding Company (Regulatory Top Holder): Eastwood Financial Corporation Employee Profit Sharing And Stock Ownership Plan (RSSDID: 3870240, Location: Rochester, MN)
Date Established: July 15, 1903
WWW: http://www.eastwoodbank.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Domestic: 11, Interstate: No)
OTS Docket #: 10073
FDIC's unique #: 5232
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: June 08, 2007
Last Structure Change Process Date: July 24, 2007
Last Data Update: July 24, 2007
Data Source Date: April 05, 2012
LocationAddress: 109 South Mantorville Avenue, Kasson, MN 55944
County: Dodge
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
Core Based Statistical Area (CBSA): Rochester, MN (#40340)
CBSA Metro Statistical Area: Rochester, MN (#40340)
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $554.6 mil
Equity capital: $51.3 mil
Deposits held in domestic offices: $452.4 mil
Return on assets (ROA): 1.31% ($7.3 mil)
Quarterly return on assets: 1.04% ($5.8 mil)
Return on Equity (ROE): 14.48% ($7.4 mil)
Quarterly return on equity: 11.06% ($5.6 mil)
Net income: $6.8 mil
Quarterly Net income: $1.4 mil
Pretax return on assets: 1.32% ($7,320.9 mil)
Quarterly Pretax return on assets: 1.04% ($5,768.0 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)136
Total assets$554,616
Cash and due from depository institutions$8,924
Interest-bearing balances$0
Securities$184,819
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$331,945
Loan loss allowance $6,550
Trading account assets$0
Bank premises and fixed assets$12,271
Other real estate owned$2,132
Goodwill and other intangibles$3,356
All other assets$11,169
Life insurance assets$554,616
Total liabilities and capital$503,351
Total liabilities$452,406
Total deposits$404,086
Interest-bearing deposits$452,406
Deposits held in domestic offices$92
% insured (estimated)38198.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,101
Other borrowed funds $0
Subordinated debt $2,646
All other liabilities $51,265
Total equity capital$51,265
Total bank equity capital$51,265
Perpetual preferred stock$0
Common stock$1,008
Surplus$24,600
Undivided profits $25,657
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,022
Income earned, not collected on loans $6,347
Earning assets $44
Long-term assets (5+ years) $3,144
Average Assets, year-to-date $516,764
Average Assets, quarterly $155,383
Volatile liabilities $520,078
Insider loans $540,681
FHLB advances $376,553
Loans and leases held for sale $532,028
Unused loan commitments $3,841
Tier 1 (core) risk-based capital $3,841
Tier 2 risk-based capital $43,513
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $57,716
Derivatives$1,334
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $25,090
Total interest expense $5,622
Net interest income $19,468
Provision for loan and lease losses $1,212
Total noninterest income $5,775
Fiduciary activities $388
Service charges on deposit accounts $1,781
Trading account gains & fees $0
Additional noninterest income $3,606
Total noninterest expense $17,250
Salaries and employee benefits $9,556
Premises and equipment expense $1,795
Additional noninterest expense $5,899
Pre-tax net operating income $6,781
Securities gains (losses) $60
Applicable income taxes $25
Income before extraordinary items $6,816
Extraordinary gains - net $0
Net income attributable to bank $6,816
Net charge-offs $0
Cash dividends $6,816
Sale, conversion, retirement of capital stock, net $1,295
Net operating income $4,113
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.19%
Cost of funding earning assets 1.16%
Net interest margin 4.03%
Noninterest income to earning assets 1.19%
Noninterest expense to earning assets 3.57%
Net operating income to assets 1.30%
Return on assets (ROA) 1.31%
Pretax return on assets 1.32%
Return on equity (ROE) 14.48%
Retained earnings to average equity (YTD only) 5.74%
Net charge-offs to loans 0.38%
Credit loss provision to net charge-offs 93.59%
Efficiency ratio6.17%
Assets per employee$65,947
Cash dividends to net income (YTD only)4.08%
Condition Ratios (%)
Loss allowance to loans 60.34%
Loss allowance to noncurrent loans 1.94%
Noncurrent assets plus other real estate owned to assets 103.20%
Noncurrent loans to loans 1.53%
Net loans and leases to deposits1.88%
Net loans and leases to core deposits 73.37%
Equity capital to assets 77.08%
Core capital (leverage) ratio 9.24%
Tier 1 risk-based capital ratio 8.18%
Total risk-based capital ratio 11.56%
Memoranda
Average assets$13
Average earning assets$520,078
Average equity $47,071
Average loans $483,449
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$74,198
Number of Accounts1
Personal trust and agency accounts$60,433
Employee benefit-defined contribution accounts$43,290
Employee benefit-defined benefit accounts$11,761
Other retirement accounts$0
Corporate trust and agency accounts$2,774
Investment management agency accounts$208
Other fiduciary accounts$1,983
Fiduciary accounts held in foreign offices$417
Non-managed Assets$0
Number of Accounts151
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$2,774
Employee benefit-defined benefit accounts$0
Other retirement accounts$13,765
Corporate trust and agency accounts$10,295
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,813
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11 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05232Eastwood Bank109 South Mantorville Avenue, Kasson, MN 55944July 15, 1903Full Service Brick and Mortar
26252Rollingstone Branch140 Main Street, Rollingstone, MN 55969January 16, 1905Full Service Brick and Mortar
35224Eyota Branch27 West Second Street, Eyota, MN 55934October 01, 1913Full Service Brick and Mortar
4218118Southside Branch1625 Highway 14 East, Rochester, MN 55901Febuary 01, 1979Full Service Brick and Mortar
8218123Stewartville Branch119 East First Street, Stewartville, MN 55976December 21, 1992Full Service Brick and Mortar
9218124Northside Branch5125 Highway 52 North, Rochester, MN 55901March 13, 1995Full Service Brick and Mortar
10218125St. Charles Branch748 Whitewater Avenue, St. Charles, MN 55972October 04, 1999Full Service Brick and Mortar
11441048Rochester Branch45 28th Street Se, Rochester, MN 55904June 13, 2005Full Service Brick and Mortar
137740Houston Branch108 Cedar Street, East, Houston, MN 55943January 13, 1903Full Service Brick and Mortar
14266755Lafayette & Fifth Branch225 Lafayette Street, Winona, MN 55987January 01, 1923Full Service Brick and Mortar
15478333Eastwood Bank Private Banking & Trus15 1st St Se, Suite 220, Rochester, MN 55904May 05, 2008Limited Service Trust
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