Farmers & Merchants State Bank of New York Mills, Incorporated in New York Mills, Minnesota (MN)

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Farmers & Merchants State Bank of New York Mills, Incorporated
GeneralFDIC Certificate #: 9340
Status: Active
Federal Reserve ID: 721752
Bank Holding Company (Regulatory Top Holder): New York Mills Bancshares, Inc. (RSSDID: 1124202, Location: New York Mills, MN)
Date Established: December 16, 1916
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
OTS Docket #: 12477
FDIC's unique #: 5992
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: January 01, 1934
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: Walker Avenue And Front Street, New York Mills, MN 56567
County: Otter Tail
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Fergus Falls, MN (#22260)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $54.2 mil
Equity capital: $8.1 mil
Deposits held in domestic offices: $43.6 mil
Return on assets (ROA): 0.78% ($0.4 mil)
Quarterly return on assets: 0.66% ($0.4 mil)
Return on Equity (ROE): 5.18% ($0.4 mil)
Quarterly return on equity: 4.39% ($0.4 mil)
Net income: $0.4 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.78% ($422.7 mil)
Quarterly Pretax return on assets: 0.67% ($363.1 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)16
Total assets$54,192
Cash and due from depository institutions$2,385
Interest-bearing balances$1,113
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$27,080
Loan loss allowance $437
Trading account assets$0
Bank premises and fixed assets$350
Other real estate owned$235
Goodwill and other intangibles$0
All other assets$2,156
Life insurance assets$54,192
Total liabilities and capital$46,067
Total liabilities$43,582
Total deposits$34,444
Interest-bearing deposits$43,582
Deposits held in domestic offices$85
% insured (estimated)2029.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $456
All other liabilities $8,125
Total equity capital$8,125
Total bank equity capital$8,125
Perpetual preferred stock$0
Common stock$300
Undivided profits $4,125
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 $34
Earning assets $0
Long-term assets (5+ years) $289
Average Assets, year-to-date $50,179
Average Assets, quarterly $16,398
Volatile liabilities $52,201
Insider loans $53,855
FHLB advances $42,049
Loans and leases held for sale $53,985
Unused loan commitments $1,421
Tier 1 (core) risk-based capital $1,075
Tier 2 risk-based capital $7,675
Total risk weighted assets $0
Total unused commitments $346
Restructured Loans and leases $3,378
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,148
Total interest expense $415
Net interest income $1,733
Provision for loan and lease losses $80
Total noninterest income $274
Fiduciary activities $0
Service charges on deposit accounts $98
Trading account gains & fees $0
Additional noninterest income $176
Total noninterest expense $1,515
Salaries and employee benefits $909
Premises and equipment expense $133
Additional noninterest expense $473
Pre-tax net operating income $412
Securities gains (losses) -$5
Applicable income taxes $1
Income before extraordinary items $406
Extraordinary gains - net $0
Net income attributable to bank $406
Net charge-offs $0
Cash dividends $406
Sale, conversion, retirement of capital stock, net $162
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 assets4.44%
Cost of funding earning assets 0.86%
Net interest margin 3.58%
Noninterest income to earning assets 0.57%
Noninterest expense to earning assets 3.13%
Net operating income to assets 0.79%
Return on assets (ROA) 0.78%
Pretax return on assets 0.78%
Return on equity (ROE) 5.18%
Retained earnings to average equity (YTD only) 5.18%
Net charge-offs to loans 0.60%
Credit loss provision to net charge-offs 49.38%
Efficiency ratio3.04%
Assets per employee$75,486
Cash dividends to net income (YTD only)3.39%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.59%
Noncurrent assets plus other real estate owned to assets 1285.29%
Noncurrent loans to loans 0.55%
Net loans and leases to deposits0.12%
Net loans and leases to core deposits 62.14%
Equity capital to assets 67.48%
Core capital (leverage) ratio 14.99%
Tier 1 risk-based capital ratio 14.22%
Total risk-based capital ratio 18.25%
Average assets$19
Average earning assets$52,201
Average equity $7,843
Average loans $48,395
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05992Farmers & Merchants State Bank Of New York Mills, IncorporatedWalker Avenue And Front Street, New York Mills, MN 56567December 16, 1916Full Service Brick and Mortar
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