Farmers State Bank in Lagrange, Indiana (IN), MI

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Farmers State Bank
GeneralFDIC Certificate #: 14578
Status: Active
Federal Reserve ID: 113441
Bank Holding Company (Regulatory Top Holder): F.S. Bancorp (RSSDID: 1245479, Location: Lagrange, IN)
Date Established: July 16, 1934
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 14 (Domestic: 14, Interstate: Yes)
OTS Docket #: 13452
FDIC's unique #: 9111
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: No
Asset Concentration Hierarchy: All Other Specialization < 1 Billion
Date of Deposit Insurance: July 16, 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: 216-218 South Detroit Street, Lagrange, IN 46761
County: Lagrange
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $481.3 mil
Equity capital: $46.8 mil
Deposits held in domestic offices: $399.3 mil
Return on assets (ROA): 0.95% ($4.6 mil)
Quarterly return on assets: 0.99% ($4.8 mil)
Return on Equity (ROE): 9.73% ($4.6 mil)
Quarterly return on equity: 10.17% ($4.8 mil)
Net income: $4.4 mil
Quarterly Net income: $1.2 mil
Pretax return on assets: 1.29% ($6,208.6 mil)
Quarterly Pretax return on assets: 1.36% ($6,545.5 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)161
Total assets$481,286
Cash and due from depository institutions$38,902
Interest-bearing balances$22,135
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$349,265
Loan loss allowance $5,594
Trading account assets$0
Bank premises and fixed assets$8,451
Other real estate owned$685
Goodwill and other intangibles$4,285
All other assets$18,630
Life insurance assets$481,286
Total liabilities and capital$434,399
Total liabilities$399,347
Total deposits$307,164
Interest-bearing deposits$399,347
Deposits held in domestic offices$85
% insured (estimated)6586.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$25,488
Other borrowed funds $0
Subordinated debt $2,978
All other liabilities $46,887
Total equity capital$46,803
Total bank equity capital$46,803
Perpetual preferred stock$0
Common stock$100
Undivided profits $20,555
Noncurrent loans and leases $84
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $7,000
Earning assets $0
Long-term assets (5+ years) $1,642
Average Assets, year-to-date $432,468
Average Assets, quarterly $46,971
Volatile liabilities $466,175
Insider loans $474,512
FHLB advances $323,440
Loans and leases held for sale $471,334
Unused loan commitments $9,539
Tier 1 (core) risk-based capital $7,103
Tier 2 risk-based capital $42,423
Total risk weighted assets $0
Total unused commitments $2,436
Restructured Loans and leases $56,925
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $21,101
Total interest expense $3,918
Net interest income $17,183
Provision for loan and lease losses $1,430
Total noninterest income $4,343
Fiduciary activities $177
Service charges on deposit accounts $1,767
Trading account gains & fees $0
Additional noninterest income $2,399
Total noninterest expense $14,135
Salaries and employee benefits $8,675
Premises and equipment expense $1,573
Additional noninterest expense $3,887
Pre-tax net operating income $5,961
Securities gains (losses) $32
Applicable income taxes $1,549
Income before extraordinary items $4,444
Extraordinary gains - net $0
Net income attributable to bank $4,444
Net charge-offs $0
Cash dividends $4,444
Sale, conversion, retirement of capital stock, net $1,199
Net operating income $3,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.07%
Cost of funding earning assets 0.94%
Net interest margin 4.13%
Noninterest income to earning assets 1.04%
Noninterest expense to earning assets 3.40%
Net operating income to assets 0.95%
Return on assets (ROA) 0.95%
Pretax return on assets 1.29%
Return on equity (ROE) 9.73%
Retained earnings to average equity (YTD only) 3.16%
Net charge-offs to loans 0.34%
Credit loss provision to net charge-offs 119.27%
Efficiency ratio6.16%
Assets per employee$64,025
Cash dividends to net income (YTD only)2.99%
Condition Ratios (%)
Loss allowance to loans 67.51%
Loss allowance to noncurrent loans 1.58%
Noncurrent assets plus other real estate owned to assets 79.91%
Noncurrent loans to loans 1.60%
Net loans and leases to deposits1.97%
Net loans and leases to core deposits 87.46%
Equity capital to assets 91.72%
Core capital (leverage) ratio 9.72%
Tier 1 risk-based capital ratio 9.00%
Total risk-based capital ratio 13.12%
Average assets$14
Average earning assets$466,175
Average equity $45,669
Average loans $415,839
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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$47,281
Number of Accounts1
Personal trust and agency accounts$22,390
Employee benefit-defined contribution accounts$21,907
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$483
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts433
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$24,891
Corporate trust and agency accounts$498
Other fiduciary accounts$6,747
Fiduciary accounts held in foreign offices$14,199
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13 Indiana Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09111Farmers State Bank216-218 South Detroit Street, Lagrange, IN 46761July 16, 1934Full Service Brick and Mortar
1231749Wolcottville BranchMain Street, Wolcottville, IN 46795March 01, 1938Full Service Brick and Mortar
2231750Stroh BranchMain Street, Stroh, IN 46789November 13, 1934Full Service Brick and Mortar
3231751Topeka BranchMain Street, Topeka, IN 46571May 08, 1937Full Service Brick and Mortar
4231752Howe Branch103 North Indiana Highway #9, Howe, IN 46746April 06, 1989Full Service Brick and Mortar
5231753Shipshewana Branch315 North Vanburen Street, Shipshewana, IN 46565June 10, 1991Full Service Brick and Mortar
7450884First National Bank Of Fremont Branc106 East Toledo Street, Fremont, IN 46737November 01, 2004Full Service Brick and Mortar
8203130Orland BranchWest Main Street, Orland, IN 46776Febuary 08, 1963Full Service Brick and Mortar
9203131Ashley-Hudson BranchWest State Street And Grand Avenue, Ashley, IN 46705July 12, 1971Full Service Brick and Mortar
10203132Angola BranchHighway 127n Near County Road 100n, Angola, IN 46703May 16, 1980Full Service Brick and Mortar
12203134Hamilton Branch3840 East Bellfountaine, Hamilton, IN 46742May 01, 1995Full Service Brick and Mortar
13203135Waterloo Branch280 South Wayne, Waterloo, IN 46793August 06, 1999Full Service Brick and Mortar
14481419Millersburg Branch400 North Benton Street, Millersburg, IN 46543October 06, 2008Full Service Brick and Mortar
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1 Michigan Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
6422533Sturgis Branch809 West Chicago Road, Sturgis, MI 49091September 08, 2003Full Service Brick and Mortar
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