Farmers and Merchants State Bank of Springfield in Springfield, Minnesota (MN)



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Farmers and Merchants State Bank of Springfield routing number info

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Farmers and Merchants State Bank of Springfield
GeneralFDIC Certificate #: 13382
Status: Active
Federal Reserve ID: 770451
Bank Holding Company (Regulatory Top Holder): Piesco, Inc. (RSSDID: 2780717, Location: Springfield, MN)
Date Established: January 01, 1918
WWW: http://www.fmb-ebank.com
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 #: 12107
FDIC's unique #: 8432
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: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 101 North Marshall Avenue, Springfield, MN 56087
County: Brown
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
Core Based Statistical Area (CBSA): New Ulm, MN (#35580)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $114.5 mil
Equity capital: $8.9 mil
Deposits held in domestic offices: $93.0 mil
Return on assets (ROA): 0.60% ($0.7 mil)
Quarterly return on assets: 0.41% ($0.5 mil)
Return on Equity (ROE): 7.45% ($0.7 mil)
Quarterly return on equity: 5.17% ($0.5 mil)
Net income: $0.6 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.60% ($687.0 mil)
Quarterly Pretax return on assets: 0.41% ($469.4 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)27
Total assets$114,497
Cash and due from depository institutions$15,938
Interest-bearing balances$11,037
Securities$15,407
Federal funds sold & reverse repurchase agreements$1,075
Net loans & leases$74,095
Loan loss allowance $797
Trading account assets$0
Bank premises and fixed assets$2,282
Other real estate owned$147
Goodwill and other intangibles$0
All other assets$5,553
Life insurance assets$114,497
Total liabilities and capital$105,633
Total liabilities$93,035
Total deposits$80,819
Interest-bearing deposits$93,035
Deposits held in domestic offices$79
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$11,674
Other borrowed funds $0
Subordinated debt $924
All other liabilities $8,864
Total equity capital$8,864
Total bank equity capital$8,864
Perpetual preferred stock$0
Common stock$125
Surplus$4,875
Undivided profits $3,864
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 $61
Earning assets $0
Long-term assets (5+ years) $1,036
Average Assets, year-to-date $101,614
Average Assets, quarterly $15,749
Volatile liabilities $108,821
Insider loans $112,241
FHLB advances $80,251
Loans and leases held for sale $118,878
Unused loan commitments $3,165
Tier 1 (core) risk-based capital $3,165
Tier 2 risk-based capital $8,618
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,471
Derivatives$2,522
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,612
Total interest expense $1,170
Net interest income $3,442
Provision for loan and lease losses $50
Total noninterest income $400
Fiduciary activities $0
Service charges on deposit accounts $167
Trading account gains & fees $0
Additional noninterest income $233
Total noninterest expense $3,141
Salaries and employee benefits $2,196
Premises and equipment expense $235
Additional noninterest expense $710
Pre-tax net operating income $651
Securities gains (losses) $0
Applicable income taxes $2
Income before extraordinary items $649
Extraordinary gains - net $0
Net income attributable to bank $649
Net charge-offs $0
Cash dividends $649
Sale, conversion, retirement of capital stock, net $11
Net operating income $683
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.72%
Cost of funding earning assets 1.20%
Net interest margin 3.52%
Noninterest income to earning assets 0.41%
Noninterest expense to earning assets 3.22%
Net operating income to assets 0.60%
Return on assets (ROA) 0.60%
Pretax return on assets 0.60%
Return on equity (ROE) 7.45%
Retained earnings to average equity (YTD only) -0.39%
Net charge-offs to loans 0.01%
Credit loss provision to net charge-offs 454.55%
Efficiency ratio63.73%
Assets per employee$81,754
Cash dividends to net income (YTD only)4.24%
Condition Ratios (%)
Loss allowance to loans 105.24%
Loss allowance to noncurrent loans 1.06%
Noncurrent assets plus other real estate owned to assets 1306.56%
Noncurrent loans to loans 0.18%
Net loans and leases to deposits0.08%
Net loans and leases to core deposits 79.64%
Equity capital to assets 84.45%
Core capital (leverage) ratio 7.74%
Tier 1 risk-based capital ratio 7.25%
Total risk-based capital ratio 10.74%
Memoranda
Average assets$12
Average earning assets$108,821
Average equity $8,707
Average loans $97,650
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08432Farmers And Merchants State Bank Of101 North Marshall Avenue, Springfield, MN 56087January 01, 1918Full Service Brick and Mortar
11295Morgan Branch101 Vernon Avenue, Morgan, MN 56266August 01, 1893Full Service Brick and Mortar
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