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

Farmers and Merchants State Bank of Pierz - Overview

  • General
  • FDIC Certificate #: 10165
    Status: Active
    Federal Reserve ID: 728957
    Bank Holding Company (Regulatory Top Holder): Farmers & Merchants Agency, Inc. (RSSDID: 1123791, Location: Pierz, MN)
    Date Established: January 01, 1908
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 12484
    FDIC's unique #: 6506
    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: September 23, 2010
    Last Data Update: September 23, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 80 Main Street N, Pierz, MN 56364
    County: Morrison
    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
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $177.2 mil
    Equity capital: $18.8 mil
    Deposits held in domestic offices: $158.2 mil
    Return on assets (ROA): 2.39% ($4.2 mil)
    Quarterly return on assets: 2.68% ($4.7 mil)
    Return on Equity (ROE): 23.18% ($4.4 mil)
    Quarterly return on equity: 25.30% ($4.8 mil)
    Net income: $4.0 mil
    Quarterly Net income: $1.2 mil
    Pretax return on assets: 2.39% ($4,234.4 mil)
    Quarterly Pretax return on assets: 2.68% ($4,748.2 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
  • 32Total employees (full-time equivalent)
  • $177,173Total assets
  • $5,956Cash and due from depository institutions
  • $1,960Interest-bearing balances
  • $40,851Securities
  • $1,470Federal funds sold & reverse repurchase agreements
  • $124,745Net loans & leases
  • $1,586Loan loss allowance
  • $0Trading account assets
  • $1,173Bank premises and fixed assets
  • $1,026Other real estate owned
  • $0Goodwill and other intangibles
  • $177,173Life insurance assets
  • $1,952All other assets
  • $158,400Total liabilities and capital
  • $158,218Total liabilities
  • $128,828Total deposits
  • $158,218Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $182Subordinated debt
  • $18,773All other liabilities
  • $18,773Total equity capital
  • $18,773Total bank equity capital
  • $0Perpetual preferred stock
  • $570Common stock
  • $14,100Surplus
  • $4,103Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,511Income earned, not collected on loans
  • $0Earning assets
  • $1,125Long-term assets (5+ years)
  • $169,026Average Assets, year-to-date
  • $36,518Average Assets, quarterly
  • $169,167Volatile liabilities
  • $173,422Insider loans
  • $132,654FHLB advances
  • $173,088Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $17,611Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $13,118Restructured Loans and leases
  • $108Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,169Total interest income
  • $1,597Total interest expense
  • $7,572Net interest income
  • $737Provision for loan and lease losses
  • $279Total noninterest income
  • $0Fiduciary activities
  • $527Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$248Additional noninterest income
  • $3,701Total noninterest expense
  • $2,169Salaries and employee benefits
  • $485Premises and equipment expense
  • $1,047Additional noninterest expense
  • $3,413Pre-tax net operating income
  • $623Securities gains (losses)
  • $0Applicable income taxes
  • $4,036Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,036Net income attributable to bank
  • $0Net charge-offs
  • $4,036Cash dividends
  • $918Sale, conversion, retirement of capital stock, net
  • $2,992Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.72%Yield on earning assets
  • 1.00%Cost of funding earning assets
  • 4.73%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 2.31%Noninterest expense to earning assets
  • 2.02%Net operating income to assets
  • 2.39%Return on assets (ROA)
  • 2.39%Pretax return on assets
  • 23.18%Return on equity (ROE)
  • 6.00%Retained earnings to average equity (YTD only)
  • 0.73%Net charge-offs to loans
  • 80.28%Credit loss provision to net charge-offs
  • 4.52%Efficiency ratio
  • 47,140Assets per employee
  • 5.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 74.13%Loss allowance to loans
  • 1.26%Loss allowance to noncurrent loans
  • 63.16%Noncurrent assets plus other real estate owned to assets
  • 2.00%Noncurrent loans to loans
  • 1.99%Net loans and leases to deposits
  • 78.84%Net loans and leases to core deposits
  • 87.47%Equity capital to assets
  • 10.60%Core capital (leverage) ratio
  • 10.17%Tier 1 risk-based capital ratio
  • 13.28%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $169,167Average earning assets
  • $17,411Average equity
  • $160,169Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06506Farmers And Merchants State Bank Of80 Main Street N, Pierz, MN 56364January 01, 1908Full Service Brick and Mortar
    1221980Sauk Rapids Branch1301 2nd Street North, Sauk Rapids, MN 56379October 10, 1995Full Service Brick and Mortar

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