First Bank & Trust in Sioux Falls, South Dakota (SD)

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First Bank & Trust
GeneralFDIC Certificate #: 27078
Status: Active
Federal Reserve ID: 550756
Bank Holding Company (Regulatory Top Holder): Fishback Financial Corporation (RSSDID: 1123072, Location: Brookings, SD)
Date Established: October 31, 1987
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 11955
FDIC's unique #: 38723
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: October 31, 1987
Last Structure Change Effective Date: July 01, 2009
Last Structure Change Process Date: September 11, 2009
Last Data Update: September 11, 2009
Data Source Date: April 05, 2012
LocationAddress: 110 North Minnesota Avenue, Sioux Falls, SD 57104
County: Minnehaha
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Sioux Falls, SD (#7760)
Core Based Statistical Area (CBSA): Sioux Falls, SD (#43620)
CBSA Metro Statistical Area: Sioux Falls, SD (#43620)
History of ChangesName Change
Change in Primary Regulatory Agency
Change in Supervisory Agency
Financial SummaryTotal assets: $435.9 mil
Equity capital: $56.2 mil
Deposits held in domestic offices: $360.4 mil
Return on assets (ROA): 1.07% ($4.7 mil)
Quarterly return on assets: 1.07% ($4.7 mil)
Return on Equity (ROE): 8.16% ($4.6 mil)
Quarterly return on equity: 8.27% ($4.6 mil)
Net income: $4.5 mil
Quarterly Net income: $1.2 mil
Pretax return on assets: 1.55% ($6,757.1 mil)
Quarterly Pretax return on assets: 1.55% ($6,757.1 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)81
Total assets$435,944
Cash and due from depository institutions$21,452
Interest-bearing balances$8,070
Federal funds sold & reverse repurchase agreements$1,698
Net loans & leases$329,722
Loan loss allowance $4,036
Trading account assets$0
Bank premises and fixed assets$10,610
Other real estate owned$2,744
Goodwill and other intangibles$19,582
All other assets$12,746
Life insurance assets$435,944
Total liabilities and capital$379,767
Total liabilities$360,396
Total deposits$307,839
Interest-bearing deposits$360,396
Deposits held in domestic offices$79
% insured (estimated)5350.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$8,000
Other borrowed funds $0
Subordinated debt $6,021
All other liabilities $56,177
Total equity capital$56,177
Total bank equity capital$56,177
Perpetual preferred stock$0
Common stock$2,000
Undivided profits $8,404
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $8,524
Income earned, not collected on loans $1,465
Earning assets $35
Long-term assets (5+ years) $2,497
Average Assets, year-to-date $376,880
Average Assets, quarterly $81,358
Volatile liabilities $417,395
Insider loans $432,090
FHLB advances $366,416
Loans and leases held for sale $409,494
Unused loan commitments $6,614
Tier 1 (core) risk-based capital $6,614
Tier 2 risk-based capital $38,232
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $60,301
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $21,813
Total interest expense $4,605
Net interest income $17,208
Provision for loan and lease losses $397
Total noninterest income $4,369
Fiduciary activities $525
Service charges on deposit accounts $1,285
Trading account gains & fees $0
Additional noninterest income $2,559
Total noninterest expense $14,697
Salaries and employee benefits $6,486
Premises and equipment expense $1,666
Additional noninterest expense $6,545
Pre-tax net operating income $6,483
Securities gains (losses) $0
Applicable income taxes $2,004
Income before extraordinary items $4,479
Extraordinary gains - net $0
Net income attributable to bank $4,479
Net charge-offs $0
Cash dividends $4,479
Sale, conversion, retirement of capital stock, net $99
Net operating income $2,550
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.02%
Cost of funding earning assets 1.27%
Net interest margin 4.75%
Noninterest income to earning assets 1.21%
Noninterest expense to earning assets 4.05%
Net operating income to assets 1.07%
Return on assets (ROA) 1.07%
Pretax return on assets 1.55%
Return on equity (ROE) 8.16%
Retained earnings to average equity (YTD only) 3.51%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs 401.01%
Efficiency ratio69.49%
Assets per employee$66,038
Cash dividends to net income (YTD only)5.38%
Condition Ratios (%)
Loss allowance to loans 56.93%
Loss allowance to noncurrent loans 1.21%
Noncurrent assets plus other real estate owned to assets 275.49%
Noncurrent loans to loans 0.97%
Net loans and leases to deposits0.44%
Net loans and leases to core deposits 91.49%
Equity capital to assets 103.10%
Core capital (leverage) ratio 12.89%
Tier 1 risk-based capital ratio 9.34%
Total risk-based capital ratio 10.43%
Average assets$12
Average earning assets$417,395
Average equity $54,884
Average loans $362,457
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$155,691
Number of Accounts1
Personal trust and agency accounts$132,506
Employee benefit-defined contribution accounts$88,713
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$1,654
Investment management agency accounts$128
Other fiduciary accounts$40,113
Fiduciary accounts held in foreign offices$1,898
Non-managed Assets$0
Number of Accounts298
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$1,654
Employee benefit-defined benefit accounts$0
Other retirement accounts$23,185
Corporate trust and agency accounts$15,028
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$7,867
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6 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
038723First Bank & Trust110 North Minnesota Avenue, Sioux Falls, SD 57104October 31, 1987Full Service Brick and Mortar
66354402 East Fifth Street Branch402 East Fifth Street, Canton, SD 57013Febuary 04, 1899Full Service Brick and Mortar
10360296Sioux Falls Courier Branch133 South Main Avenue, Sioux Falls, SD 57101April 05, 2001Limited Service Messenger
11365289Watertown Branch1120 9th Avenue Se, Watertown, SD 57201April 24, 2002Full Service Brick and Mortar
13443929Madison Branch120 North Egan Avenue, Madison, SD 57042October 04, 2004Full Service Brick and Mortar
14458096Sioux Falls I-229 & 57th Street Bran2300 West 57th Street, Sioux Falls, SD 57108November 06, 2006Full Service Brick and Mortar
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