Farmers State Bank in Marion, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Farmers State Bank - Overview

  • General
  • FDIC Certificate #: 14209
    Status: Active
    Federal Reserve ID: 1006148
    Bank Holding Company (Regulatory Top Holder): Neighbor Insurance Agency, Inc. (RSSDID: 1200124, Location: Marion, IA)
    Date Established: August 27, 1927
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    FDIC's unique #: 8874
    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: April 09, 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
  • Location
  • Address: 1240 8th Avenue, Marion, IA 52302
    County: Linn
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Cedar Rapids, IA (#1360)
    Core Based Statistical Area (CBSA): Cedar Rapids, IA (#16300)
    CBSA Metro Statistical Area: Cedar Rapids, IA (#16300)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $624.5 mil
    Equity capital: $76.7 mil
    Deposits held in domestic offices: $526.5 mil
    Return on assets (ROA): 1.74% ($10.9 mil)
    Quarterly return on assets: 1.72% ($10.8 mil)
    Return on Equity (ROE): 14.44% ($11.1 mil)
    Quarterly return on equity: 13.88% ($10.7 mil)
    Net income: $10.5 mil
    Quarterly Net income: $2.6 mil
    Pretax return on assets: 1.85% ($11,553.7 mil)
    Quarterly Pretax return on assets: 1.81% ($11,303.9 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
  • 153Total employees (full-time equivalent)
  • $624,527Total assets
  • $81,514Cash and due from depository institutions
  • $64,393Interest-bearing balances
  • $129,090Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $387,866Net loans & leases
  • $4,988Loan loss allowance
  • $0Trading account assets
  • $7,600Bank premises and fixed assets
  • $2,570Other real estate owned
  • $539Goodwill and other intangibles
  • $624,527Life insurance assets
  • $15,348All other assets
  • $547,807Total liabilities and capital
  • $526,475Total liabilities
  • $448,126Total deposits
  • $526,475Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 17510.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,822Subordinated debt
  • $76,720All other liabilities
  • $76,720Total equity capital
  • $76,720Total bank equity capital
  • $0Perpetual preferred stock
  • $1,162Common stock
  • $4,838Surplus
  • $70,720Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,735Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,462Income earned, not collected on loans
  • $106Earning assets
  • $2,779Long-term assets (5+ years)
  • $581,349Average Assets, year-to-date
  • $161,670Average Assets, quarterly
  • $599,831Volatile liabilities
  • $613,968Insider loans
  • $470,926FHLB advances
  • $618,355Loans and leases held for sale
  • $7,286Unused loan commitments
  • $7,286Tier 1 (core) risk-based capital
  • $71,232Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $94,528Restructured Loans and leases
  • $351Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $27,202Total interest income
  • $5,230Total interest expense
  • $21,972Net interest income
  • $600Provision for loan and lease losses
  • $6,821Total noninterest income
  • $364Fiduciary activities
  • $1,681Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,776Additional noninterest income
  • $17,098Total noninterest expense
  • $9,873Salaries and employee benefits
  • $1,959Premises and equipment expense
  • $5,266Additional noninterest expense
  • $11,095Pre-tax net operating income
  • $0Securities gains (losses)
  • $630Applicable income taxes
  • $10,465Income before extraordinary items
  • $0Extraordinary gains - net
  • $10,465Net income attributable to bank
  • $0Net charge-offs
  • $10,465Cash dividends
  • $364Sale, conversion, retirement of capital stock, net
  • $4,167Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.84%Yield on earning assets
  • 0.93%Cost of funding earning assets
  • 3.91%Net interest margin
  • 1.21%Noninterest income to earning assets
  • 3.04%Noninterest expense to earning assets
  • 1.74%Net operating income to assets
  • 1.74%Return on assets (ROA)
  • 1.85%Pretax return on assets
  • 14.44%Return on equity (ROE)
  • 8.69%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 164.84%Credit loss provision to net charge-offs
  • 32.13%Efficiency ratio
  • 59,365Assets per employee
  • 4.08%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 39.82%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 202.60%Noncurrent assets plus other real estate owned to assets
  • 0.81%Noncurrent loans to loans
  • 0.63%Net loans and leases to deposits
  • 73.67%Net loans and leases to core deposits
  • 76.86%Equity capital to assets
  • 12.28%Core capital (leverage) ratio
  • 11.52%Tier 1 risk-based capital ratio
  • 15.13%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $599,831Average earning assets
  • $72,450Average equity
  • $562,047Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $39,629Managed Assets
  • 1Number of Accounts
  • $36,871Personal trust and agency accounts
  • $31,354Employee benefit-defined contribution accounts
  • $805Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $909Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $3,803Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 130Number of Accounts
  • $0Personal trust and agency accounts
  • $909Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $2,758Other retirement accounts
  • $2,320Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $109Fiduciary accounts held in foreign offices

List of branches

  • 8 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08874Farmers State Bank1240 8th Avenue, Marion, IA 52302August 27, 1927Full Service Brick and Mortar
    1231166Alburnett BranchMain Avenue, Alburnett, IA 52202November 13, 1945Full Service Brick and Mortar
    2231167Hiawatha Branch175 Center Point Road, Hiawatha, IA 52233April 14, 1969Full Service Brick and Mortar
    3231168Drive-In Branch1200 Ninth Avenue, Marion, IA 52302November 28, 1979Limited Service Facility
    5231170Collins Road Square Branch1380 Twixt Town Road, Marion, IA 52302December 31, 1984Full Service Brick and Mortar
    6231171Edgewood Road Branch399 Edgewood Road N.W., Cedar Rapids, IA 52405October 31, 1996Full Service Brick and Mortar
    7231172Atm Department1100 8th Ave, Marion, IA 52302June 30, 1996Limited Service Administrative
    8362824Van Buren Village Branch2755 Edgewood Road., S.W., Cedar Rapids, IA 52404November 19, 2001Full Service Brick and Mortar

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