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

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

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 27Total employees (full-time equivalent)
  • $114,497Total assets
  • $15,938Cash and due from depository institutions
  • $11,037Interest-bearing balances
  • $15,407Securities
  • $1,075Federal funds sold & reverse repurchase agreements
  • $74,095Net loans & leases
  • $797Loan loss allowance
  • $0Trading account assets
  • $2,282Bank premises and fixed assets
  • $147Other real estate owned
  • $0Goodwill and other intangibles
  • $114,497Life insurance assets
  • $5,553All other assets
  • $105,633Total liabilities and capital
  • $93,035Total liabilities
  • $80,819Total deposits
  • $93,035Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $11,674Trading liabilities
  • $0Other borrowed funds
  • $924Subordinated debt
  • $8,864All other liabilities
  • $8,864Total equity capital
  • $8,864Total bank equity capital
  • $0Perpetual preferred stock
  • $125Common stock
  • $4,875Surplus
  • $3,864Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $61Income earned, not collected on loans
  • $0Earning assets
  • $1,036Long-term assets (5+ years)
  • $101,614Average Assets, year-to-date
  • $15,749Average Assets, quarterly
  • $108,821Volatile liabilities
  • $112,241Insider loans
  • $80,251FHLB advances
  • $118,878Loans and leases held for sale
  • $3,165Unused loan commitments
  • $3,165Tier 1 (core) risk-based capital
  • $8,618Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,471Restructured Loans and leases
  • $2,522Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,612Total interest income
  • $1,170Total interest expense
  • $3,442Net interest income
  • $50Provision for loan and lease losses
  • $400Total noninterest income
  • $0Fiduciary activities
  • $167Service charges on deposit accounts
  • $0Trading account gains & fees
  • $233Additional noninterest income
  • $3,141Total noninterest expense
  • $2,196Salaries and employee benefits
  • $235Premises and equipment expense
  • $710Additional noninterest expense
  • $651Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • $649Income before extraordinary items
  • $0Extraordinary gains - net
  • $649Net income attributable to bank
  • $0Net charge-offs
  • $649Cash dividends
  • $11Sale, conversion, retirement of capital stock, net
  • $683Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.72%Yield on earning assets
  • 1.20%Cost of funding earning assets
  • 3.52%Net interest margin
  • 0.41%Noninterest income to earning assets
  • 3.22%Noninterest expense to earning assets
  • 0.60%Net operating income to assets
  • 0.60%Return on assets (ROA)
  • 0.60%Pretax return on assets
  • 7.45%Return on equity (ROE)
  • -0.39%Retained earnings to average equity (YTD only)
  • 0.01%Net charge-offs to loans
  • 454.55%Credit loss provision to net charge-offs
  • 63.73%Efficiency ratio
  • 81,754Assets per employee
  • 4.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 105.24%Loss allowance to loans
  • 1.06%Loss allowance to noncurrent loans
  • 1306.56%Noncurrent assets plus other real estate owned to assets
  • 0.18%Noncurrent loans to loans
  • 0.08%Net loans and leases to deposits
  • 79.64%Net loans and leases to core deposits
  • 84.45%Equity capital to assets
  • 7.74%Core capital (leverage) ratio
  • 7.25%Tier 1 risk-based capital ratio
  • 10.74%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $108,821Average earning assets
  • $8,707Average equity
  • $97,650Average loans

List of branches

  • 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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