Farmers State Bank of Underwood in Underwood, Minnesota (MN)
| Farmers State Bank of Underwood | |
|---|---|
| General | FDIC Certificate #: 10174 Status: Active Federal Reserve ID: 865852 Bank Holding Company (Regulatory Top Holder): Underwood Bancshares, Inc. (RSSDID: 1128385, Location: Underwood, MN) Date Established: December 01, 1915 WWW: http://www.farmersstbank.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 #: 6515 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: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 110 Main St, Underwood, MN 56586 County: Otter Tail Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Fergus Falls, MN (#22260) CBSA Micro Statistical Area: Yes |
| History of Changes | Change in Location Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $44.8 mil Equity capital: $4.5 mil Deposits held in domestic offices: $40.2 mil Return on assets (ROA): 1.62% ($0.7 mil) Quarterly return on assets: 1.97% ($0.9 mil) Return on Equity (ROE): 16.91% ($0.8 mil) Quarterly return on equity: 19.88% ($1.0 mil) Net income: $0.7 mil Quarterly Net income: $0.2 mil Pretax return on assets: 1.62% ($726.1 mil) Quarterly Pretax return on assets: 1.97% ($883.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 13 |
| Total assets | $44,824 |
| Cash and due from depository institutions | $5,395 |
| Interest-bearing balances | $3,855 |
| Securities | $4,776 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $32,843 |
| Loan loss allowance | $361 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $458 |
| Other real estate owned | $17 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,335 |
| Life insurance assets | $44,824 |
| Total liabilities and capital | $40,296 |
| Total liabilities | $40,170 |
| Total deposits | $34,026 |
| Interest-bearing deposits | $40,170 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $126 |
| All other liabilities | $4,528 |
| Total equity capital | $4,528 |
| Total bank equity capital | $4,528 |
| Perpetual preferred stock | $0 |
| Common stock | $25 |
| Surplus | $2,475 |
| Undivided profits | $2,028 |
| 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 | $293 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $441 |
| Average Assets, year-to-date | $41,474 |
| Average Assets, quarterly | $3,715 |
| Volatile liabilities | $44,442 |
| Insider loans | $45,160 |
| FHLB advances | $33,814 |
| Loans and leases held for sale | $45,357 |
| Unused loan commitments | $729 |
| Tier 1 (core) risk-based capital | $729 |
| Tier 2 risk-based capital | $4,368 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,087 |
| Derivatives | $36 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,161 |
| Total interest expense | $483 |
| Net interest income | $1,678 |
| Provision for loan and lease losses | $40 |
| Total noninterest income | $338 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $259 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $79 |
| Total noninterest expense | $1,271 |
| Salaries and employee benefits | $732 |
| Premises and equipment expense | $217 |
| Additional noninterest expense | $322 |
| Pre-tax net operating income | $705 |
| Securities gains (losses) | $16 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $721 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $721 |
| Net charge-offs | $0 |
| Cash dividends | $721 |
| Sale, conversion, retirement of capital stock, net | -$8 |
| Net operating income | $290 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.42% |
| Cost of funding earning assets | 1.21% |
| Net interest margin | 4.20% |
| Noninterest income to earning assets | 0.85% |
| Noninterest expense to earning assets | 3.18% |
| Net operating income to assets | 1.59% |
| Return on assets (ROA) | 1.62% |
| Pretax return on assets | 1.62% |
| Return on equity (ROE) | 16.91% |
| Retained earnings to average equity (YTD only) | 10.11% |
| Net charge-offs to loans | -0.03% |
| Credit loss provision to net charge-offs | -500.00% |
| Efficiency ratio | 0.00% |
| Assets per employee | $63,046 |
| Cash dividends to net income (YTD only) | 3.45% |
| Condition Ratios (%) | |
| Loss allowance to loans | 40.22% |
| Loss allowance to noncurrent loans | 1.09% |
| Noncurrent assets plus other real estate owned to assets | 123.21% |
| Noncurrent loans to loans | 0.69% |
| Net loans and leases to deposits | 0.88% |
| Net loans and leases to core deposits | 81.76% |
| Equity capital to assets | 84.35% |
| Core capital (leverage) ratio | 10.10% |
| Tier 1 risk-based capital ratio | 9.63% |
| Total risk-based capital ratio | 12.92% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $44,442 |
| Average equity | $4,263 |
| Average loans | $39,907 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6515 | Farmers State Bank Of Underwood | 110 Main St, Underwood, MN 56586 | December 01, 1915 | Full Service Brick and Mortar |  |
| 1 | 221987 | Dalton Branch | 105 Main Street West, Dalton, MN 56324 | October 01, 1999 | Full Service Retail |  |
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