Farmers and Merchants State Bank in Paynesville, Minnesota (MN)

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Farmers and Merchants State Bank
GeneralFDIC Certificate #: 19318
Status: Active
Federal Reserve ID: 883753
Bank Holding Company (Regulatory Top Holder): Darwin Bancshares, Inc. (RSSDID: 1125571, Location: Darwin, MN)
Date Established: December 18, 1907
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 #: 13130
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: December 15, 1964
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: 125 East James Street, Paynesville, MN 56362
County: Stearns
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
Metropolitan Statistical Area (MSA): St. Cloud, MN (#6980)
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): St. Cloud, MN (#41060)
CBSA Metro Statistical Area: St. Cloud, MN (#41060)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $25.1 mil
Equity capital: $3.1 mil
Deposits held in domestic offices: $22.0 mil
Return on assets (ROA): 0.91% ($0.2 mil)
Quarterly return on assets: 0.35% ($0.1 mil)
Return on Equity (ROE): 7.69% ($0.2 mil)
Quarterly return on equity: 2.88% ($0.1 mil)
Net income: $0.2 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.91% ($228.7 mil)
Quarterly Pretax return on assets: 0.35% ($88.0 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)9
Total assets$25,136
Cash and due from depository institutions$7,045
Interest-bearing balances$6,036
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$7,226
Loan loss allowance $186
Trading account assets$0
Bank premises and fixed assets$215
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$451
Life insurance assets$25,136
Total liabilities and capital$22,080
Total liabilities$22,038
Total deposits$18,081
Interest-bearing deposits$22,038
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 $42
All other liabilities $3,056
Total equity capital$3,056
Total bank equity capital$3,056
Perpetual preferred stock$0
Common stock$50
Undivided profits $1,756
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 $0
Earning assets $0
Long-term assets (5+ years) $221
Average Assets, year-to-date $23,461
Average Assets, quarterly $7,156
Volatile liabilities $24,290
Insider loans $25,005
FHLB advances $9,100
Loans and leases held for sale $25,143
Unused loan commitments $147
Tier 1 (core) risk-based capital $147
Tier 2 risk-based capital $2,561
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $762
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,012
Total interest expense $118
Net interest income $894
Provision for loan and lease losses $0
Total noninterest income $86
Fiduciary activities $0
Service charges on deposit accounts $75
Trading account gains & fees $0
Additional noninterest income $11
Total noninterest expense $763
Salaries and employee benefits $406
Premises and equipment expense $182
Additional noninterest expense $175
Pre-tax net operating income $217
Securities gains (losses) $3
Applicable income taxes $0
Income before extraordinary items $220
Extraordinary gains - net $0
Net income attributable to bank $220
Net charge-offs $0
Cash dividends $220
Sale, conversion, retirement of capital stock, net -$7
Net operating income $211
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.49%
Cost of funding earning assets 0.52%
Net interest margin 3.97%
Noninterest income to earning assets 0.38%
Noninterest expense to earning assets 3.39%
Net operating income to assets 0.89%
Return on assets (ROA) 0.91%
Pretax return on assets 0.91%
Return on equity (ROE) 7.69%
Retained earnings to average equity (YTD only) 0.31%
Net charge-offs to loans -0.10%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$77,857
Cash dividends to net income (YTD only)2.79%
Condition Ratios (%)
Loss allowance to loans 95.91%
Loss allowance to noncurrent loans 2.51%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 32.79%
Equity capital to assets 33.24%
Core capital (leverage) ratio 12.16%
Tier 1 risk-based capital ratio 10.19%
Total risk-based capital ratio 28.14%
Average assets$29
Average earning assets$24,290
Average equity $2,861
Average loans $22,521
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
013130Farmers And Merchants State Bank125 East James Street, Paynesville, MN 56362December 18, 1907Full Service Brick and Mortar
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