Farmers State Bank of Elkton in Elkton, Minnesota (MN)
| Farmers State Bank of Elkton | |
|---|---|
| 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 WWW: http://www.fsbelkton.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 #: 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 9 |
| Total assets | $48,924 |
| Cash and due from depository institutions | $5,286 |
| Interest-bearing balances | $1,662 |
| Securities | $17,990 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $24,083 |
| Loan loss allowance | $316 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $530 |
| Other real estate owned | $281 |
| Goodwill and other intangibles | $0 |
| All other assets | $754 |
| Life insurance assets | $48,924 |
| Total liabilities and capital | $43,723 |
| Total liabilities | $42,264 |
| Total deposits | $34,227 |
| Interest-bearing deposits | $42,264 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 1204.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $255 |
| All other liabilities | $5,201 |
| Total equity capital | $5,201 |
| Total bank equity capital | $5,201 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $1,950 |
| Undivided profits | $3,201 |
| 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 | $111 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $481 |
| Average Assets, year-to-date | $43,735 |
| Average Assets, quarterly | $13,928 |
| Volatile liabilities | $45,585 |
| Insider loans | $48,239 |
| FHLB advances | $33,999 |
| Loans and leases held for sale | $47,633 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $4,590 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $5,339 |
| Derivatives | $0 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,878 |
| Total interest expense | $369 |
| Net interest income | $1,509 |
| Provision for loan and lease losses | $125 |
| Total noninterest income | $95 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $33 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $62 |
| Total noninterest expense | $903 |
| Salaries and employee benefits | $493 |
| Premises and equipment expense | $155 |
| Additional noninterest expense | $255 |
| Pre-tax net operating income | $576 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $576 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $576 |
| Net charge-offs | $0 |
| Cash dividends | $576 |
| Sale, conversion, retirement of capital stock, net | $265 |
| Net operating income | $408 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.59% |
| Cost of funding earning assets | 0.90% |
| Net interest margin | 3.69% |
| Noninterest income to earning assets | 0.23% |
| Noninterest expense to earning assets | 2.21% |
| Net operating income to assets | 1.26% |
| Return on assets (ROA) | 1.26% |
| Pretax return on assets | 1.26% |
| Return on equity (ROE) | 11.65% |
| Retained earnings to average equity (YTD only) | 3.40% |
| Net charge-offs to loans | 1.27% |
| Credit loss provision to net charge-offs | 47.17% |
| Efficiency ratio | 2.65% |
| Assets per employee | $56,297 |
| Cash dividends to net income (YTD only) | 5.44% |
| Condition Ratios (%) | |
| Loss allowance to loans | 70.83% |
| Loss allowance to noncurrent loans | 1.30% |
| Noncurrent assets plus other real estate owned to assets | 284.68% |
| Noncurrent loans to loans | 0.80% |
| Net loans and leases to deposits | 0.45% |
| Net loans and leases to core deposits | 56.98% |
| Equity capital to assets | 61.22% |
| Core capital (leverage) ratio | 10.63% |
| Tier 1 risk-based capital ratio | 9.64% |
| Total risk-based capital ratio | 13.50% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $45,585 |
| Average equity | $4,943 |
| Average loans | $40,904 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 936 | Farmers State Bank Of Elkton | 105 Main Street, Elkton, MN 55933 | January 01, 1913 | Full Service Brick and Mortar |  |
| 1 | 189480 | Dexter Facility | 235 South Main Street, Dexter, MN 55926 | June 02, 1978 | Full Service Brick and Mortar |  |
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