Farmers State Bank of Watkins in Watkins, Minnesota (MN)
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| Farmers State Bank of Watkins | |
|---|---|
| General | FDIC Certificate #: 8864 Status: Active Federal Reserve ID: 899156 Bank Holding Company (Regulatory Top Holder): Neisen Bancshares, Inc. (RSSDID: 1124592, Location: Watkins, MN) Date Established: October 12, 1914 WWW: http://www.fsbwatkins.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 5658 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: All Other Specialization < 1 Billion 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: Meeker And Second Avenue, Watkins, MN 55389 County: Meeker 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 |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $37.7 mil Equity capital: $5.3 mil Deposits held in domestic offices: $32.1 mil Return on assets (ROA): 1.63% ($0.6 mil) Quarterly return on assets: 1.56% ($0.6 mil) Return on Equity (ROE): 11.67% ($0.6 mil) Quarterly return on equity: 11.09% ($0.6 mil) Net income: $0.6 mil Quarterly Net income: $0.1 mil Pretax return on assets: 1.63% ($614.6 mil) Quarterly Pretax return on assets: 1.56% ($588.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 10 |
| Total assets | $37,707 |
| Cash and due from depository institutions | $3,296 |
| Interest-bearing balances | $498 |
| Securities | $13,973 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $18,407 |
| Loan loss allowance | $213 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $210 |
| Other real estate owned | $182 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,639 |
| Life insurance assets | $37,707 |
| Total liabilities and capital | $32,447 |
| Total liabilities | $32,146 |
| Total deposits | $26,957 |
| Interest-bearing deposits | $32,146 |
| Deposits held in domestic offices | $97 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $301 |
| All other liabilities | $5,260 |
| Total equity capital | $5,260 |
| Total bank equity capital | $5,260 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $2,600 |
| Undivided profits | $2,560 |
| 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 | $369 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $245 |
| Average Assets, year-to-date | $32,878 |
| Average Assets, quarterly | $10,042 |
| Volatile liabilities | $36,449 |
| Insider loans | $37,260 |
| FHLB advances | $23,565 |
| Loans and leases held for sale | $37,462 |
| Unused loan commitments | $1,230 |
| Tier 1 (core) risk-based capital | $1,230 |
| Tier 2 risk-based capital | $5,078 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,084 |
| Derivatives | $240 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,720 |
| Total interest expense | $264 |
| Net interest income | $1,456 |
| Provision for loan and lease losses | $60 |
| Total noninterest income | $263 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $82 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $181 |
| Total noninterest expense | $1,066 |
| Salaries and employee benefits | $573 |
| Premises and equipment expense | $182 |
| Additional noninterest expense | $311 |
| Pre-tax net operating income | $593 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $593 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $593 |
| Net charge-offs | $0 |
| Cash dividends | $593 |
| Sale, conversion, retirement of capital stock, net | $52 |
| Net operating income | $332 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.45% |
| Cost of funding earning assets | 0.84% |
| Net interest margin | 4.61% |
| Noninterest income to earning assets | 0.83% |
| Noninterest expense to earning assets | 3.38% |
| Net operating income to assets | 1.63% |
| Return on assets (ROA) | 1.63% |
| Pretax return on assets | 1.63% |
| Return on equity (ROE) | 11.67% |
| Retained earnings to average equity (YTD only) | 5.14% |
| Net charge-offs to loans | 0.27% |
| Credit loss provision to net charge-offs | 115.38% |
| Efficiency ratio | 12.56% |
| Assets per employee | $62,013 |
| Cash dividends to net income (YTD only) | 3.77% |
| Condition Ratios (%) | |
| Loss allowance to loans | 55.99% |
| Loss allowance to noncurrent loans | 1.14% |
| Noncurrent assets plus other real estate owned to assets | 57.72% |
| Noncurrent loans to loans | 1.46% |
| Net loans and leases to deposits | 1.98% |
| Net loans and leases to core deposits | 57.26% |
| Equity capital to assets | 59.28% |
| Core capital (leverage) ratio | 13.95% |
| Tier 1 risk-based capital ratio | 13.56% |
| Total risk-based capital ratio | 21.55% |
| Memoranda | |
| Average assets | $22 |
| Average earning assets | $36,449 |
| Average equity | $5,081 |
| Average loans | $31,578 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5658 | Farmers State Bank Of Watkins | Meeker And Second Avenue, Watkins, MN 55389 | October 12, 1914 | Full Service Brick and Mortar |  |
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