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

This bank is inactive as of June 03, 2011

Farmers State Bank of Sherburn - Overview

  • General
  • FDIC Certificate #: 8217
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Bank Midwest (#5170)
    Federal Reserve ID: 831053
    Date Established: November 01, 1930
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 5240
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: June 03, 2011
    Last Structure Change Process Date: June 08, 2011
    Last Data Update: June 08, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 33 North Main Street, Sherburn, MN 56171
    County: Martin
    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
    Core Based Statistical Area (CBSA): Fairmont, MN (#21860)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $29.6 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, 2010)

  • Dollar figures in thousands
  • 7Total employees (full-time equivalent)
  • $29,226Total assets
  • $8,348Cash and due from depository institutions
  • $3,543Interest-bearing balances
  • $2,053Securities
  • $800Federal funds sold & reverse repurchase agreements
  • $16,495Net loans & leases
  • $300Loan loss allowance
  • $0Trading account assets
  • $360Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $800Life insurance assets
  • $1,170All other assets
  • $29,226Total liabilities and capital
  • $26,826Total liabilities
  • $26,290Total deposits
  • $20,044Interest-bearing deposits
  • $26,290Deposits held in domestic offices
  • 92.57%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $536All other liabilities
  • $2,400Total equity capital
  • $2,400Total bank equity capital
  • $2,400Perpetual preferred stock
  • $0Common stock
  • $150Surplus
  • $1,500Undivided profits
  • Memoranda
  • $750Noncurrent loans and leases
  • $3,027Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $67Earning assets
  • $0Long-term assets (5+ years)
  • $198Average Assets, year-to-date
  • $22,891Average Assets, quarterly
  • $1,195Volatile liabilities
  • $29,155Insider loans
  • $29,016FHLB advances
  • $2,864Loans and leases held for sale
  • $1,162Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $3,027Total unused commitments
  • $0Restructured Loans and leases
  • $242Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $1,257Total interest income
  • $347Total interest expense
  • $910Net interest income
  • $0Provision for loan and lease losses
  • $147Total noninterest income
  • $0Fiduciary activities
  • $77Service charges on deposit accounts
  • $0Trading account gains & fees
  • $70Additional noninterest income
  • $828Total noninterest expense
  • $539Salaries and employee benefits
  • $112Premises and equipment expense
  • $177Additional noninterest expense
  • $229Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $229Income before extraordinary items
  • $0Extraordinary gains - net
  • $229Net income attributable to bank
  • $0Net charge-offs
  • $229Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $263Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.30%Yield on earning assets
  • 1.46%Cost of funding earning assets
  • 3.83%Net interest margin
  • 0.62%Noninterest income to earning assets
  • 3.49%Noninterest expense to earning assets
  • 0.79%Net operating income to assets
  • 0.79%Return on assets (ROA)
  • 0.79%Pretax return on assets
  • 9.43%Return on equity (ROE)
  • -1.40%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 78,335Assets per employee
  • 4.18%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 114.85%Loss allowance to loans
  • 1.79%Loss allowance to noncurrent loans
  • 447.76%Noncurrent assets plus other real estate owned to assets
  • 0.23%Noncurrent loans to loans
  • 0.40%Net loans and leases to deposits
  • 62.74%Net loans and leases to core deposits
  • 70.41%Equity capital to assets
  • 8.21%Core capital (leverage) ratio
  • 8.19%Tier 1 risk-based capital ratio
  • 12.33%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $29,155Average earning assets
  • $2,429Average equity
  • $23,732Average loans

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