First Bank & Trust in Brookings, South Dakota (SD)



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First Bank & Trust
GeneralFDIC Certificate #: 3973
Status: Active
Federal Reserve ID: 77851
Bank Holding Company (Regulatory Top Holder): Fishback Financial Corporation (RSSDID: 1123072, Location: Brookings, SD)
Date Established: November 02, 1925
WWW: http://www.bankeasy.combrookings/
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 #: 9589
FDIC's unique #: 2584
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: January 01, 1934
Last Structure Change Effective Date: January 08, 2007
Last Structure Change Process Date: Febuary 05, 2007
Last Data Update: Febuary 05, 2007
Data Source Date: April 05, 2012
LocationAddress: 520 6th Street, Brookings, SD 57006
County: Brookings
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
Core Based Statistical Area (CBSA): Brookings, SD (#15100)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Location
Financial SummaryTotal assets: $847.3 mil
Equity capital: $88.9 mil
Deposits held in domestic offices: $718.4 mil
Return on assets (ROA): 1.30% ($11.0 mil)
Quarterly return on assets: 1.28% ($10.8 mil)
Return on Equity (ROE): 12.73% ($11.3 mil)
Quarterly return on equity: 12.15% ($10.8 mil)
Net income: $10.7 mil
Quarterly Net income: $2.7 mil
Pretax return on assets: 1.79% ($15,167.0 mil)
Quarterly Pretax return on assets: 1.72% ($14,573.9 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)120
Total assets$847,317
Cash and due from depository institutions$33,851
Interest-bearing balances$22,664
Securities$163,137
Federal funds sold & reverse repurchase agreements$347
Net loans & leases$575,038
Loan loss allowance $8,957
Trading account assets$0
Bank premises and fixed assets$17,124
Other real estate owned$19,490
Goodwill and other intangibles$1,931
All other assets$36,399
Life insurance assets$847,317
Total liabilities and capital$758,409
Total liabilities$718,368
Total deposits$624,881
Interest-bearing deposits$718,368
Deposits held in domestic offices$83
% insured (estimated)25352.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$6,751
Other borrowed funds $0
Subordinated debt $7,938
All other liabilities $88,908
Total equity capital$88,908
Total bank equity capital$88,908
Perpetual preferred stock$0
Common stock$758
Surplus$54,041
Undivided profits $34,109
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,545
Income earned, not collected on loans $7,740
Earning assets $26
Long-term assets (5+ years) $4,885
Average Assets, year-to-date $761,186
Average Assets, quarterly $257,293
Volatile liabilities $820,664
Insider loans $835,101
FHLB advances $669,675
Loans and leases held for sale $825,391
Unused loan commitments $18,766
Tier 1 (core) risk-based capital $18,766
Tier 2 risk-based capital $84,021
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $157,968
Derivatives$12,475
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $38,705
Total interest expense $8,932
Net interest income $29,773
Provision for loan and lease losses $1,975
Total noninterest income $13,611
Fiduciary activities $2,428
Service charges on deposit accounts $1,844
Trading account gains & fees $0
Additional noninterest income $9,339
Total noninterest expense $26,760
Salaries and employee benefits $7,935
Premises and equipment expense $2,339
Additional noninterest expense $16,486
Pre-tax net operating income $14,649
Securities gains (losses) $0
Applicable income taxes $3,942
Income before extraordinary items $10,707
Extraordinary gains - net $0
Net income attributable to bank $10,707
Net charge-offs $0
Cash dividends $10,707
Sale, conversion, retirement of capital stock, net $3,098
Net operating income $4,600
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.22%
Cost of funding earning assets 1.21%
Net interest margin 4.02%
Noninterest income to earning assets 1.84%
Noninterest expense to earning assets 3.61%
Net operating income to assets 1.30%
Return on assets (ROA) 1.30%
Pretax return on assets 1.79%
Return on equity (ROE) 12.73%
Retained earnings to average equity (YTD only) 7.26%
Net charge-offs to loans 0.52%
Credit loss provision to net charge-offs 63.75%
Efficiency ratio5.37%
Assets per employee$61,682
Cash dividends to net income (YTD only)7.06%
Condition Ratios (%)
Loss allowance to loans 42.96%
Loss allowance to noncurrent loans 1.53%
Noncurrent assets plus other real estate owned to assets 115.72%
Noncurrent loans to loans 3.21%
Net loans and leases to deposits1.33%
Net loans and leases to core deposits 80.05%
Equity capital to assets 91.93%
Core capital (leverage) ratio 10.49%
Tier 1 risk-based capital ratio 10.18%
Total risk-based capital ratio 12.55%
Memoranda
Average assets$14
Average earning assets$820,664
Average equity $84,118
Average loans $741,076
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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$635,968
Number of Accounts1
Personal trust and agency accounts$430,205
Employee benefit-defined contribution accounts$112,820
Employee benefit-defined benefit accounts$160,857
Other retirement accounts$0
Corporate trust and agency accounts$37,717
Investment management agency accounts$3
Other fiduciary accounts$113,282
Fiduciary accounts held in foreign offices$5,526
Non-managed Assets$0
Number of Accounts1315
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$36,621
Employee benefit-defined benefit accounts$0
Other retirement accounts$205,763
Corporate trust and agency accounts$915
Other fiduciary accounts$9,759
Fiduciary accounts held in foreign offices$30,265
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6 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
02584First Bank & Trust520 6th Street, Brookings, SD 57006November 02, 1925Full Service Brick and Mortar
1202184Sixth Street Branch2220 Sixth Street, Brookings, SD 57006May 15, 1976Full Service Brick and Mortar
244408Vermillion Branch20 East Main St, Vermillion, SD 57069January 01, 1964Full Service Brick and Mortar
3285264Brookings Mall Branch700 22nd Avenue South, Brookings, SD 57006January 01, 1964Full Service Retail
4361967Garretson Branch644 N. Main Ave, Garretson, SD 57030September 01, 2000Full Service Brick and Mortar
5442588Walmart Branch2233 6th Street, Brookings, SD 57006October 27, 2004Full Service Retail
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