First Citizens National Bank in Mason City, Iowa (IA)

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First Citizens National Bank
GeneralFDIC Certificate #: 4433
Status: Active
Federal Reserve ID: 186744
Bank Holding Company (Regulatory Top Holder): First Citizens Financial Corp. (RSSDID: 1203509, Location: Mason City, IA)
Date Established: January 09, 1892
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 10 (Domestic: 10, Interstate: No)
OTS Docket #: 11448
FDIC's unique #: 2929
Numeric code: 3
Regulator: OCC
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: No
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: 2601 Fourth Street, S.W., Mason City, IA 50401
County: Cerro Gordo
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Mason City, IA (#32380)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $1,022.1 mil
Equity capital: $119.5 mil
Deposits held in domestic offices: $744.4 mil
Return on assets (ROA): 1.73% ($17.7 mil)
Quarterly return on assets: 1.51% ($15.4 mil)
Return on Equity (ROE): 15.13% ($18.2 mil)
Quarterly return on equity: 12.86% ($15.4 mil)
Net income: $17.0 mil
Quarterly Net income: $3.8 mil
Pretax return on assets: 1.83% ($18,704.0 mil)
Quarterly Pretax return on assets: 1.59% ($16,251.1 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)181
Total assets$1,022,079
Cash and due from depository institutions$43,959
Interest-bearing balances$22,001
Federal funds sold & reverse repurchase agreements$30,000
Net loans & leases$521,272
Loan loss allowance $8,668
Trading account assets$0
Bank premises and fixed assets$5,935
Other real estate owned$1,998
Goodwill and other intangibles$820
All other assets$34,714
Life insurance assets$1,022,079
Total liabilities and capital$902,548
Total liabilities$744,367
Total deposits$652,465
Interest-bearing deposits$744,367
Deposits held in domestic offices$80
% insured (estimated)40190.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$114,010
Other borrowed funds $0
Subordinated debt $3,981
All other liabilities $119,531
Total equity capital$119,531
Total bank equity capital$119,531
Perpetual preferred stock$0
Common stock$4,000
Undivided profits $97,565
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,890
Income earned, not collected on loans $3,136
Earning assets $142
Long-term assets (5+ years) $8,651
Average Assets, year-to-date $956,654
Average Assets, quarterly $284,613
Volatile liabilities $980,984
Insider loans $1,008,235
FHLB advances $628,119
Loans and leases held for sale $985,334
Unused loan commitments $14,322
Tier 1 (core) risk-based capital $11,214
Tier 2 risk-based capital $107,078
Total risk weighted assets $1,032
Total unused commitments $2,076
Restructured Loans and leases $148,410
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $42,603
Total interest expense $11,162
Net interest income $31,441
Provision for loan and lease losses $1,200
Total noninterest income $6,318
Fiduciary activities $1,637
Service charges on deposit accounts $1,474
Trading account gains & fees $0
Additional noninterest income $3,207
Total noninterest expense $18,632
Salaries and employee benefits $12,055
Premises and equipment expense $1,614
Additional noninterest expense $4,963
Pre-tax net operating income $17,927
Securities gains (losses) $0
Applicable income taxes $910
Income before extraordinary items $17,017
Extraordinary gains - net $0
Net income attributable to bank $17,017
Net charge-offs $0
Cash dividends $17,017
Sale, conversion, retirement of capital stock, net $98
Net operating income $12,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.63%
Cost of funding earning assets 1.21%
Net interest margin 3.42%
Noninterest income to earning assets 0.69%
Noninterest expense to earning assets 2.03%
Net operating income to assets 1.73%
Return on assets (ROA) 1.73%
Pretax return on assets 1.83%
Return on equity (ROE) 15.13%
Retained earnings to average equity (YTD only) 4.46%
Net charge-offs to loans 0.02%
Credit loss provision to net charge-offs 1224.49%
Efficiency ratio195.17%
Assets per employee$49,345
Cash dividends to net income (YTD only)5.65%
Condition Ratios (%)
Loss allowance to loans 70.52%
Loss allowance to noncurrent loans 1.64%
Noncurrent assets plus other real estate owned to assets 276.40%
Noncurrent loans to loans 0.50%
Net loans and leases to deposits0.59%
Net loans and leases to core deposits 70.03%
Equity capital to assets 74.34%
Core capital (leverage) ratio 11.69%
Tier 1 risk-based capital ratio 10.87%
Total risk-based capital ratio 17.05%
Average assets$18
Average earning assets$980,984
Average equity $112,453
Average loans $919,975
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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$355,124
Number of Accounts1
Personal trust and agency accounts$259,872
Employee benefit-defined contribution accounts$162,618
Employee benefit-defined benefit accounts$38,056
Other retirement accounts$0
Corporate trust and agency accounts$6,641
Investment management agency accounts$17,327
Other fiduciary accounts$24,221
Fiduciary accounts held in foreign offices$10,999
Non-managed Assets$10
Number of Accounts431
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$6,641
Employee benefit-defined benefit accounts$0
Other retirement accounts$95,252
Corporate trust and agency accounts$48,929
Other fiduciary accounts$22,216
Fiduciary accounts held in foreign offices$6,852
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10 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
02929First Citizens National Bank2601 Fourth Street, S.W., Mason City, IA 50401January 09, 1892Full Service Brick and Mortar
32930Clarion Branch120 First Avenue, N.W., Clarion, IA 50525October 01, 1887Full Service Brick and Mortar
68316Kanawha Branch220 North Main Street, Kanawha, IA 50447January 01, 1800Full Service Brick and Mortar
7203692Latimer Branch117 North Akir, Latimer, IA 50452January 15, 1987Full Service Brick and Mortar
8203693Drive-Up Branch1123 Central Avenue East, Clarion, IA 50525March 21, 1994Limited Service Facility
92964Osage Branch501 Main Street, Osage, IA 50461January 01, 1856Full Service Brick and Mortar
109328New Hampton Branch124 West Main, New Hampton, IA 50659September 19, 1929Full Service Brick and Mortar
12232393Alta Vista Branch103 South White Avenue, Alta Vista, IA 50603September 03, 1991Full Service Brick and Mortar
13203690300 Main Branch300 North Main Street, Charles City, IA 50616December 05, 1994Full Service Brick and Mortar
14203691Downtown Branch33 East State Street, Mason City, IA 50401December 06, 1996Limited Service Facility
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