F & M Bank Minnesota in Clarkfield, Minnesota (MN)
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| F & M Bank Minnesota | |
|---|---|
| General | FDIC Certificate #: 10184 Status: Active Federal Reserve ID: 114251 Bank Holding Company (Regulatory Top Holder): Independent Bancshares, Inc. (RSSDID: 2466235, Location: Clarkfield, MN) Date Established: January 28, 1919 WWW: http://www.fmbankminnesota.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 6524 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: October 16, 2010 Last Structure Change Process Date: November 24, 2010 Last Data Update: November 24, 2010 Data Source Date: April 05, 2012 |
| Location | Address: 940 Tenth Avenue, Clarkfield, MN 56223 County: Yellow Medicine 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 | Office Purchased |
| Financial Summary | Total assets: $96.8 mil Equity capital: $8.1 mil Deposits held in domestic offices: $82.2 mil Return on assets (ROA): 1.10% ($1.1 mil) Quarterly return on assets: 1.03% ($1.0 mil) Return on Equity (ROE): 12.73% ($1.0 mil) Quarterly return on equity: 11.78% ($0.9 mil) Net income: $1.0 mil Quarterly Net income: $0.2 mil Pretax return on assets: 1.10% ($1,064.5 mil) Quarterly Pretax return on assets: 1.03% ($996.8 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 19 |
| Total assets | $96,773 |
| Cash and due from depository institutions | $10,054 |
| Interest-bearing balances | $5,693 |
| Securities | $25,483 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $57,586 |
| Loan loss allowance | $304 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,089 |
| Other real estate owned | $162 |
| Goodwill and other intangibles | $301 |
| All other assets | $2,098 |
| Life insurance assets | $96,773 |
| Total liabilities and capital | $88,650 |
| Total liabilities | $82,232 |
| Total deposits | $55,965 |
| Interest-bearing deposits | $82,232 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $6,236 |
| Other borrowed funds | $0 |
| Subordinated debt | $182 |
| All other liabilities | $8,123 |
| Total equity capital | $8,123 |
| Total bank equity capital | $8,123 |
| Perpetual preferred stock | $0 |
| Common stock | $300 |
| Surplus | $6,200 |
| Undivided profits | $1,623 |
| 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 | $71 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,038 |
| Average Assets, year-to-date | $88,762 |
| Average Assets, quarterly | $23,771 |
| Volatile liabilities | $88,580 |
| Insider loans | $91,678 |
| FHLB advances | $67,302 |
| Loans and leases held for sale | $91,426 |
| Unused loan commitments | $599 |
| Tier 1 (core) risk-based capital | $599 |
| Tier 2 risk-based capital | $7,186 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $19,567 |
| Derivatives | $1,000 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $3,682 |
| Total interest expense | $590 |
| Net interest income | $3,092 |
| Provision for loan and lease losses | $64 |
| Total noninterest income | $192 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $91 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $101 |
| Total noninterest expense | $2,243 |
| Salaries and employee benefits | $1,376 |
| Premises and equipment expense | $225 |
| Additional noninterest expense | $642 |
| Pre-tax net operating income | $977 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $977 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $977 |
| Net charge-offs | $0 |
| Cash dividends | $977 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $571 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.53% |
| Cost of funding earning assets | 0.73% |
| Net interest margin | 3.80% |
| Noninterest income to earning assets | 0.24% |
| Noninterest expense to earning assets | 2.76% |
| Net operating income to assets | 1.10% |
| Return on assets (ROA) | 1.10% |
| Pretax return on assets | 1.10% |
| Return on equity (ROE) | 12.73% |
| Retained earnings to average equity (YTD only) | 5.29% |
| Net charge-offs to loans | 0.00% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 0.00% |
| Assets per employee | $68,301 |
| Cash dividends to net income (YTD only) | 5.09% |
| Condition Ratios (%) | |
| Loss allowance to loans | 58.44% |
| Loss allowance to noncurrent loans | 0.53% |
| Noncurrent assets plus other real estate owned to assets | 428.17% |
| Noncurrent loans to loans | 0.24% |
| Net loans and leases to deposits | 0.12% |
| Net loans and leases to core deposits | 70.03% |
| Equity capital to assets | 70.89% |
| Core capital (leverage) ratio | 8.39% |
| Tier 1 risk-based capital ratio | 7.86% |
| Total risk-based capital ratio | 10.68% |
| Memoranda | |
| Average assets | $11 |
| Average earning assets | $88,580 |
| Average equity | $7,674 |
| Average loans | $81,353 |
| 3 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6524 | F & M Bank Minnesota | 940 Tenth Avenue, Clarkfield, MN 56223 | January 28, 1919 | Full Service Brick and Mortar |  |
| 1 | 14303 | Olivia Branch | 815 East Depue Avenue, Olivia, MN 56277 | June 12, 1972 | Full Service Brick and Mortar |  |
| 2 | 908 | Renville Branch | 412 North Main Street, Renville, MN 56284 | September 12, 1912 | Full Service Brick and Mortar | |
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