Farmers State Bank of West Concord in West Concord, Minnesota (MN)



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Farmers State Bank of West Concord routing number info

Table of contents:
Farmers State Bank of West Concord
GeneralFDIC Certificate #: 8865
Status: Active
Federal Reserve ID: 777254
Bank Holding Company (Regulatory Top Holder): West Concord Bancshares, Inc. (RSSDID: 1135619, Location: West Concord, MN)
Date Established: June 02, 1930
WWW: http://www.fsbmn.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 5659
Numeric code: 13
Regulator: FED
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
LocationAddress: 181 Main Street, West Concord, MN 55985
County: Dodge
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Minneapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Rochester, MN (#40340)
CBSA Metro Statistical Area: Rochester, MN (#40340)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $47.4 mil
Equity capital: $4.2 mil
Deposits held in domestic offices: $42.7 mil
Return on assets (ROA): 0.56% ($0.3 mil)
Quarterly return on assets: 1.15% ($0.5 mil)
Return on Equity (ROE): 6.70% ($0.3 mil)
Quarterly return on equity: 13.05% ($0.5 mil)
Net income: $0.3 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.56% ($265.5 mil)
Quarterly Pretax return on assets: 1.15% ($545.3 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)
Total employees (full-time equivalent)14
Total assets$47,414
Cash and due from depository institutions$4,940
Interest-bearing balances$960
Securities$15,992
Federal funds sold & reverse repurchase agreements$1,000
Net loans & leases$24,127
Loan loss allowance $601
Trading account assets$0
Bank premises and fixed assets$576
Other real estate owned$117
Goodwill and other intangibles$0
All other assets$662
Life insurance assets$47,414
Total liabilities and capital$43,181
Total liabilities$42,658
Total deposits$35,238
Interest-bearing deposits$42,658
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$500
Other borrowed funds $0
Subordinated debt $23
All other liabilities $4,233
Total equity capital$4,233
Total bank equity capital$4,233
Perpetual preferred stock$0
Common stock$25
Surplus$2,975
Undivided profits $1,233
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 $74
Earning assets $0
Long-term assets (5+ years) $314
Average Assets, year-to-date $42,079
Average Assets, quarterly $5,455
Volatile liabilities $46,904
Insider loans $47,464
FHLB advances $25,105
Loans and leases held for sale $45,984
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $3,908
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $1,436
Derivatives$264
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,104
Total interest expense $365
Net interest income $1,739
Provision for loan and lease losses $5
Total noninterest income $155
Fiduciary activities $0
Service charges on deposit accounts $136
Trading account gains & fees $0
Additional noninterest income $19
Total noninterest expense $1,710
Salaries and employee benefits $887
Premises and equipment expense $177
Additional noninterest expense $646
Pre-tax net operating income $179
Securities gains (losses) $86
Applicable income taxes $0
Income before extraordinary items $265
Extraordinary gains - net $0
Net income attributable to bank $265
Net charge-offs $0
Cash dividends $265
Sale, conversion, retirement of capital stock, net $228
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.05%
Cost of funding earning assets 0.88%
Net interest margin 4.17%
Noninterest income to earning assets 0.37%
Noninterest expense to earning assets 4.11%
Net operating income to assets 0.38%
Return on assets (ROA) 0.56%
Pretax return on assets 0.56%
Return on equity (ROE) 6.70%
Retained earnings to average equity (YTD only) 6.70%
Net charge-offs to loans 0.93%
Credit loss provision to net charge-offs 2.19%
Efficiency ratio0.81%
Assets per employee$90,285
Cash dividends to net income (YTD only)3.39%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.43%
Noncurrent assets plus other real estate owned to assets 812.16%
Noncurrent loans to loans 0.40%
Net loans and leases to deposits0.30%
Net loans and leases to core deposits 56.56%
Equity capital to assets 56.95%
Core capital (leverage) ratio 8.93%
Tier 1 risk-based capital ratio 8.50%
Total risk-based capital ratio 15.57%
Memoranda
Average assets$17
Average earning assets$46,904
Average equity $3,956
Average loans $41,656
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05659Farmers State Bank Of West Concord181 Main Street, West Concord, MN 55985June 02, 1930Full Service Brick and Mortar
2357114Dennison Branch37470 First Ave. Court, Dennison, MN 55018November 05, 1998Full Service Brick and Mortar
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