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

Farmers State Bank - Overview

  • General
  • FDIC Certificate #: 8760
    Status: Active
    Federal Reserve ID: 208440
    Bank Holding Company (Regulatory Top Holder): Whittemore Bancshares, Inc. (RSSDID: 1245611, Location: Whittemore, IA)
    Date Established: January 01, 1895
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 14194
    FDIC's unique #: 5576
    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: 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: 501 East State Street, Algona, IA 50511
    County: Kossuth
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $95.2 mil
    Equity capital: $7.7 mil
    Deposits held in domestic offices: $83.8 mil
    Return on assets (ROA): 1.30% ($1.2 mil)
    Quarterly return on assets: 0.81% ($0.8 mil)
    Return on Equity (ROE): 16.06% ($1.3 mil)
    Quarterly return on equity: 10.08% ($0.8 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.38% ($1,314.0 mil)
    Quarterly Pretax return on assets: 0.90% ($856.9 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
  • 19Total employees (full-time equivalent)
  • $95,215Total assets
  • $6,672Cash and due from depository institutions
  • $4,251Interest-bearing balances
  • $13,550Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $72,153Net loans & leases
  • $1,155Loan loss allowance
  • $0Trading account assets
  • $553Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $95,215Life insurance assets
  • $2,287All other assets
  • $87,543Total liabilities and capital
  • $83,783Total liabilities
  • $71,890Total deposits
  • $83,783Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 698.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,256Trading liabilities
  • $0Other borrowed funds
  • $806Subordinated debt
  • $7,672All other liabilities
  • $7,672Total equity capital
  • $7,672Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $1,650Surplus
  • $5,922Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,643Income earned, not collected on loans
  • $0Earning assets
  • $1,115Long-term assets (5+ years)
  • $89,954Average Assets, year-to-date
  • $21,454Average Assets, quarterly
  • $91,904Volatile liabilities
  • $94,646Insider loans
  • $76,730FHLB advances
  • $95,413Loans and leases held for sale
  • $700Unused loan commitments
  • $700Tier 1 (core) risk-based capital
  • $7,669Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,288Restructured Loans and leases
  • $2,062Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,064Total interest income
  • $677Total interest expense
  • $3,387Net interest income
  • $115Provision for loan and lease losses
  • $342Total noninterest income
  • $0Fiduciary activities
  • $227Service charges on deposit accounts
  • $0Trading account gains & fees
  • $115Additional noninterest income
  • $2,344Total noninterest expense
  • $1,215Salaries and employee benefits
  • $408Premises and equipment expense
  • $721Additional noninterest expense
  • $1,270Pre-tax net operating income
  • $0Securities gains (losses)
  • $71Applicable income taxes
  • $1,199Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,199Net income attributable to bank
  • $0Net charge-offs
  • $1,199Cash dividends
  • -$58Sale, conversion, retirement of capital stock, net
  • $856Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.74%Yield on earning assets
  • 0.79%Cost of funding earning assets
  • 3.95%Net interest margin
  • 0.40%Noninterest income to earning assets
  • 2.73%Noninterest expense to earning assets
  • 1.30%Net operating income to assets
  • 1.30%Return on assets (ROA)
  • 1.38%Pretax return on assets
  • 16.06%Return on equity (ROE)
  • 4.59%Retained earnings to average equity (YTD only)
  • -0.08%Net charge-offs to loans
  • -198.28%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 62,859Assets per employee
  • 5.01%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 71.39%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 70.30%Noncurrent assets plus other real estate owned to assets
  • 1.73%Noncurrent loans to loans
  • 2.24%Net loans and leases to deposits
  • 86.12%Net loans and leases to core deposits
  • 87.26%Equity capital to assets
  • 8.06%Core capital (leverage) ratio
  • 8.04%Tier 1 risk-based capital ratio
  • 9.99%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $91,904Average earning assets
  • $7,468Average equity
  • $85,780Average 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
  • $132Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 17Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $132Other retirement accounts
  • $132Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05576Farmers State Bank501 East State Street, Algona, IA 50511January 01, 1895Full Service Brick and Mortar
    1218905Whittemore Branch412 Broad Street, Whittemore, IA 50598January 15, 1993Full Service Brick and Mortar
    3451616West Bend Branch324 South Broadway, West Bend, IA 50597June 01, 2006Full Service Brick and Mortar

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