Farmers State Bank of Darwin in Darwin, Minnesota (MN)
| Farmers State Bank of Darwin | |
|---|---|
| General | FDIC Certificate #: 1413 Status: Active Federal Reserve ID: 344852 Bank Holding Company (Regulatory Top Holder): Darwin Bancshares, Inc. (RSSDID: 1125571, Location: Darwin, MN) Date Established: January 01, 1914 WWW: http://www.fsbdarwin.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 933 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: August 24, 2009 Last Structure Change Process Date: August 25, 2009 Last Data Update: August 25, 2009 Data Source Date: April 05, 2012 |
| Location | Address: 318 N 1st Street, Darwin, MN 55324 County: Meeker Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $34.1 mil Equity capital: $3.0 mil Deposits held in domestic offices: $30.8 mil Return on assets (ROA): 0.91% ($0.3 mil) Quarterly return on assets: 0.55% ($0.2 mil) Return on Equity (ROE): 10.23% ($0.3 mil) Quarterly return on equity: 6.25% ($0.2 mil) Net income: $0.3 mil Quarterly Net income: $0.0 mil Pretax return on assets: 0.91% ($310.2 mil) Quarterly Pretax return on assets: 0.55% ($187.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 10 |
| Total assets | $34,091 |
| Cash and due from depository institutions | $6,981 |
| Interest-bearing balances | $3,924 |
| Securities | $11,885 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $12,542 |
| Loan loss allowance | $300 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,483 |
| Other real estate owned | $127 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,073 |
| Life insurance assets | $34,091 |
| Total liabilities and capital | $31,070 |
| Total liabilities | $30,843 |
| Total deposits | $22,568 |
| Interest-bearing deposits | $30,843 |
| Deposits held in domestic offices | $99 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $227 |
| All other liabilities | $3,021 |
| Total equity capital | $3,021 |
| Total bank equity capital | $3,021 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $1,250 |
| Undivided profits | $1,671 |
| 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 | $282 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $227 |
| Average Assets, year-to-date | $28,351 |
| Average Assets, quarterly | $11,342 |
| Volatile liabilities | $32,033 |
| Insider loans | $33,919 |
| FHLB advances | $23,903 |
| Loans and leases held for sale | $34,540 |
| Unused loan commitments | $768 |
| Tier 1 (core) risk-based capital | $768 |
| Tier 2 risk-based capital | $2,836 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,447 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,369 |
| Total interest expense | $172 |
| Net interest income | $1,197 |
| Provision for loan and lease losses | $60 |
| Total noninterest income | $184 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $115 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $69 |
| Total noninterest expense | $1,039 |
| Salaries and employee benefits | $587 |
| Premises and equipment expense | $179 |
| Additional noninterest expense | $273 |
| Pre-tax net operating income | $282 |
| Securities gains (losses) | $8 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $290 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $290 |
| Net charge-offs | $0 |
| Cash dividends | $290 |
| Sale, conversion, retirement of capital stock, net | $82 |
| Net operating income | $118 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.12% |
| Cost of funding earning assets | 0.64% |
| Net interest margin | 4.48% |
| Noninterest income to earning assets | 0.69% |
| Noninterest expense to earning assets | 3.89% |
| Net operating income to assets | 0.88% |
| Return on assets (ROA) | 0.91% |
| Pretax return on assets | 0.91% |
| Return on equity (ROE) | 10.23% |
| Retained earnings to average equity (YTD only) | 6.07% |
| Net charge-offs to loans | 0.62% |
| Credit loss provision to net charge-offs | 73.17% |
| Efficiency ratio | 4.17% |
| Assets per employee | $75,235 |
| Cash dividends to net income (YTD only) | 3.41% |
| Condition Ratios (%) | |
| Loss allowance to loans | 40.69% |
| Loss allowance to noncurrent loans | 2.34% |
| Noncurrent assets plus other real estate owned to assets | 106.38% |
| Noncurrent loans to loans | 1.20% |
| Net loans and leases to deposits | 2.20% |
| Net loans and leases to core deposits | 40.66% |
| Equity capital to assets | 41.88% |
| Core capital (leverage) ratio | 8.86% |
| Tier 1 risk-based capital ratio | 8.21% |
| Total risk-based capital ratio | 11.86% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $32,033 |
| Average equity | $2,835 |
| Average loans | $26,732 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 933 | Farmers State Bank Of Darwin | 318 N 1st Street, Darwin, MN 55324 | January 01, 1914 | Full Service Brick and Mortar |  |
| 1 | 478765 | Dassel Branch | 780 W. Parker Ave, Dassel, MN 55325 | December 31, 2007 | Full Service Brick and Mortar |  |
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