Farmers State Bank of Elkton in Elkton, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Farmers State Bank of Elkton - Overview

  • General
  • FDIC Certificate #: 1416
    Status: Active
    Federal Reserve ID: 41759
    Bank Holding Company (Regulatory Top Holder): Elkton Bancshares, Inc. (RSSDID: 1128778, Location: Elkton, MN)
    Date Established: January 01, 1913
    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 #: 936
    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: May 04, 2010
    Last Data Update: May 04, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 105 Main Street, Elkton, MN 55933
    County: Mower
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Minneapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Austin, MN (#12380)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $48.9 mil
    Equity capital: $5.2 mil
    Deposits held in domestic offices: $42.3 mil
    Return on assets (ROA): 1.26% ($0.6 mil)
    Quarterly return on assets: 1.71% ($0.8 mil)
    Return on Equity (ROE): 11.65% ($0.6 mil)
    Quarterly return on equity: 15.78% ($0.8 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.26% ($616.4 mil)
    Quarterly Pretax return on assets: 1.71% ($836.6 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
  • 9Total employees (full-time equivalent)
  • $48,924Total assets
  • $5,286Cash and due from depository institutions
  • $1,662Interest-bearing balances
  • $17,990Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $24,083Net loans & leases
  • $316Loan loss allowance
  • $0Trading account assets
  • $530Bank premises and fixed assets
  • $281Other real estate owned
  • $0Goodwill and other intangibles
  • $48,924Life insurance assets
  • $754All other assets
  • $43,723Total liabilities and capital
  • $42,264Total liabilities
  • $34,227Total deposits
  • $42,264Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 1204.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $255Subordinated debt
  • $5,201All other liabilities
  • $5,201Total equity capital
  • $5,201Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $1,950Surplus
  • $3,201Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $111Income earned, not collected on loans
  • $0Earning assets
  • $481Long-term assets (5+ years)
  • $43,735Average Assets, year-to-date
  • $13,928Average Assets, quarterly
  • $45,585Volatile liabilities
  • $48,239Insider loans
  • $33,999FHLB advances
  • $47,633Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $4,590Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,339Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,878Total interest income
  • $369Total interest expense
  • $1,509Net interest income
  • $125Provision for loan and lease losses
  • $95Total noninterest income
  • $0Fiduciary activities
  • $33Service charges on deposit accounts
  • $0Trading account gains & fees
  • $62Additional noninterest income
  • $903Total noninterest expense
  • $493Salaries and employee benefits
  • $155Premises and equipment expense
  • $255Additional noninterest expense
  • $576Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $576Income before extraordinary items
  • $0Extraordinary gains - net
  • $576Net income attributable to bank
  • $0Net charge-offs
  • $576Cash dividends
  • $265Sale, conversion, retirement of capital stock, net
  • $408Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.59%Yield on earning assets
  • 0.90%Cost of funding earning assets
  • 3.69%Net interest margin
  • 0.23%Noninterest income to earning assets
  • 2.21%Noninterest expense to earning assets
  • 1.26%Net operating income to assets
  • 1.26%Return on assets (ROA)
  • 1.26%Pretax return on assets
  • 11.65%Return on equity (ROE)
  • 3.40%Retained earnings to average equity (YTD only)
  • 1.27%Net charge-offs to loans
  • 47.17%Credit loss provision to net charge-offs
  • 2.65%Efficiency ratio
  • 56,297Assets per employee
  • 5.44%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 70.83%Loss allowance to loans
  • 1.30%Loss allowance to noncurrent loans
  • 284.68%Noncurrent assets plus other real estate owned to assets
  • 0.80%Noncurrent loans to loans
  • 0.45%Net loans and leases to deposits
  • 56.98%Net loans and leases to core deposits
  • 61.22%Equity capital to assets
  • 10.63%Core capital (leverage) ratio
  • 9.64%Tier 1 risk-based capital ratio
  • 13.50%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $45,585Average earning assets
  • $4,943Average equity
  • $40,904Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0936Farmers State Bank Of Elkton105 Main Street, Elkton, MN 55933January 01, 1913Full Service Brick and Mortar
    1189480Dexter Facility235 South Main Street, Dexter, MN 55926June 02, 1978Full Service Brick and Mortar

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