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

Farmers State Bank of Watkins - Overview

  • 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
    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)

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, 2011)

  • Dollar figures in thousands
  • 10Total employees (full-time equivalent)
  • $37,707Total assets
  • $3,296Cash and due from depository institutions
  • $498Interest-bearing balances
  • $13,973Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $18,407Net loans & leases
  • $213Loan loss allowance
  • $0Trading account assets
  • $210Bank premises and fixed assets
  • $182Other real estate owned
  • $0Goodwill and other intangibles
  • $37,707Life insurance assets
  • $1,639All other assets
  • $32,447Total liabilities and capital
  • $32,146Total liabilities
  • $26,957Total deposits
  • $32,146Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $301Subordinated debt
  • $5,260All other liabilities
  • $5,260Total equity capital
  • $5,260Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $2,600Surplus
  • $2,560Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $369Income earned, not collected on loans
  • $0Earning assets
  • $245Long-term assets (5+ years)
  • $32,878Average Assets, year-to-date
  • $10,042Average Assets, quarterly
  • $36,449Volatile liabilities
  • $37,260Insider loans
  • $23,565FHLB advances
  • $37,462Loans and leases held for sale
  • $1,230Unused loan commitments
  • $1,230Tier 1 (core) risk-based capital
  • $5,078Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,084Restructured Loans and leases
  • $240Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,720Total interest income
  • $264Total interest expense
  • $1,456Net interest income
  • $60Provision for loan and lease losses
  • $263Total noninterest income
  • $0Fiduciary activities
  • $82Service charges on deposit accounts
  • $0Trading account gains & fees
  • $181Additional noninterest income
  • $1,066Total noninterest expense
  • $573Salaries and employee benefits
  • $182Premises and equipment expense
  • $311Additional noninterest expense
  • $593Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $593Income before extraordinary items
  • $0Extraordinary gains - net
  • $593Net income attributable to bank
  • $0Net charge-offs
  • $593Cash dividends
  • $52Sale, conversion, retirement of capital stock, net
  • $332Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.45%Yield on earning assets
  • 0.84%Cost of funding earning assets
  • 4.61%Net interest margin
  • 0.83%Noninterest income to earning assets
  • 3.38%Noninterest expense to earning assets
  • 1.63%Net operating income to assets
  • 1.63%Return on assets (ROA)
  • 1.63%Pretax return on assets
  • 11.67%Return on equity (ROE)
  • 5.14%Retained earnings to average equity (YTD only)
  • 0.27%Net charge-offs to loans
  • 115.38%Credit loss provision to net charge-offs
  • 12.56%Efficiency ratio
  • 62,013Assets per employee
  • 3.77%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 55.99%Loss allowance to loans
  • 1.14%Loss allowance to noncurrent loans
  • 57.72%Noncurrent assets plus other real estate owned to assets
  • 1.46%Noncurrent loans to loans
  • 1.98%Net loans and leases to deposits
  • 57.26%Net loans and leases to core deposits
  • 59.28%Equity capital to assets
  • 13.95%Core capital (leverage) ratio
  • 13.56%Tier 1 risk-based capital ratio
  • 21.55%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $36,449Average earning assets
  • $5,081Average equity
  • $31,578Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05658Farmers State Bank Of WatkinsMeeker And Second Avenue, Watkins, MN 55389October 12, 1914Full Service Brick and Mortar

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