Exchange State Bank in Luverne, Minnesota (MN)
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| Exchange State Bank | |
|---|---|
| General | FDIC Certificate #: 8212 Status: Active Federal Reserve ID: 85258 Bank Holding Company (Regulatory Top Holder): Larch Bancorporation Inc. (RSSDID: 1206658, Location: Larchwood, IA) Date Established: January 01, 1900 WWW: http://www.exchangestatebankmn.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Domestic: 4, Interstate: No) OTS Docket #: 16119 FDIC's unique #: 5235 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: September 08, 2008 Last Structure Change Process Date: October 27, 2008 Last Data Update: October 27, 2008 Data Source Date: April 05, 2012 |
| Location | Address: 310 Gabrielson Rd, Luverne, MN 56156 County: Rock Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Sioux Falls Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $140.6 mil Equity capital: $11.6 mil Deposits held in domestic offices: $109.7 mil Return on assets (ROA): 1.05% ($1.5 mil) Quarterly return on assets: 1.21% ($1.7 mil) Return on Equity (ROE): 12.35% ($1.5 mil) Quarterly return on equity: 14.28% ($1.7 mil) Net income: $1.3 mil Quarterly Net income: $0.4 mil Pretax return on assets: 1.06% ($1,490.7 mil) Quarterly Pretax return on assets: 1.21% ($1,701.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 24 |
| Total assets | $140,634 |
| Cash and due from depository institutions | $17,125 |
| Interest-bearing balances | $12,011 |
| Securities | $34,143 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $83,007 |
| Loan loss allowance | $666 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,948 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $515 |
| All other assets | $3,896 |
| Life insurance assets | $140,634 |
| Total liabilities and capital | $129,051 |
| Total liabilities | $109,737 |
| Total deposits | $91,503 |
| Interest-bearing deposits | $109,737 |
| Deposits held in domestic offices | $95 |
| % insured (estimated) | 7000.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $12,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $314 |
| All other liabilities | $11,583 |
| Total equity capital | $11,583 |
| Total bank equity capital | $11,583 |
| Perpetual preferred stock | $0 |
| Common stock | $153 |
| Surplus | $9,847 |
| Undivided profits | $1,583 |
| 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 | $41 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,594 |
| Average Assets, year-to-date | $129,161 |
| Average Assets, quarterly | $26,380 |
| Volatile liabilities | $128,930 |
| Insider loans | $135,575 |
| FHLB advances | $92,094 |
| Loans and leases held for sale | $127,309 |
| Unused loan commitments | $1,001 |
| Tier 1 (core) risk-based capital | $1,001 |
| Tier 2 risk-based capital | $10,692 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $25,306 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,191 |
| Total interest expense | $1,333 |
| Net interest income | $3,858 |
| Provision for loan and lease losses | $60 |
| Total noninterest income | $149 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $30 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $119 |
| Total noninterest expense | $2,586 |
| Salaries and employee benefits | $1,638 |
| Premises and equipment expense | $262 |
| Additional noninterest expense | $686 |
| Pre-tax net operating income | $1,361 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $12 |
| Income before extraordinary items | $1,349 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,349 |
| Net charge-offs | $0 |
| Cash dividends | $1,349 |
| Sale, conversion, retirement of capital stock, net | $66 |
| Net operating income | $358 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.38% |
| Cost of funding earning assets | 1.12% |
| Net interest margin | 3.25% |
| Noninterest income to earning assets | 0.13% |
| Noninterest expense to earning assets | 2.18% |
| Net operating income to assets | 1.05% |
| Return on assets (ROA) | 1.05% |
| Pretax return on assets | 1.06% |
| Return on equity (ROE) | 12.35% |
| Retained earnings to average equity (YTD only) | 9.07% |
| Net charge-offs to loans | 0.09% |
| Credit loss provision to net charge-offs | 90.91% |
| Efficiency ratio | 21.53% |
| Assets per employee | $64,537 |
| Cash dividends to net income (YTD only) | 5.86% |
| Condition Ratios (%) | |
| Loss allowance to loans | 26.54% |
| Loss allowance to noncurrent loans | 0.80% |
| Noncurrent assets plus other real estate owned to assets | 1624.39% |
| Noncurrent loans to loans | 0.03% |
| Net loans and leases to deposits | 0.05% |
| Net loans and leases to core deposits | 75.64% |
| Equity capital to assets | 81.70% |
| Core capital (leverage) ratio | 8.24% |
| Tier 1 risk-based capital ratio | 8.40% |
| Total risk-based capital ratio | 11.61% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $128,930 |
| Average equity | $10,920 |
| Average loans | $118,578 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5235 | Exchange State Bank | 310 Gabrielson Rd, Luverne, MN 56156 | January 01, 1900 | Full Service Brick and Mortar |  |
| 2 | 6538 | Ellsworth State Bank Branch | Main Street, Ellsworth, MN 56129 | October 01, 1893 | Full Service Brick and Mortar |  |
| 3 | 6776 | Hardwick Office Branch | Main Street, Hardwick, MN 56134 | October 26, 1925 | Full Service Brick and Mortar | |
| 4 | 481650 | Hills Branch | State Highway 270 And County Road 6, Hills, MN 56138 | September 08, 2008 | Full Service Brick and Mortar | |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.