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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