First Commercial Bank in Bloomington, Minnesota (MN)



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First Commercial Bank
GeneralFDIC Certificate #: 35246
Status: Active
Federal Reserve ID: 2802945
Bank Holding Company (Regulatory Top Holder): Commercial Bancshares, Inc. (RSSDID: 2802927, Location: Bloomington, MN)
Date Established: July 15, 1999
WWW: http://www.1stcommercialbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 76803
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: July 15, 1999
Last Structure Change Effective Date: January 24, 2007
Last Structure Change Process Date: April 12, 2007
Last Data Update: April 12, 2007
Data Source Date: April 05, 2012
LocationAddress: 8500 Normandale Lake Boulevard, Suite 110, Bloomington, MN 55437
County: Hennepin
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Minneapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120)
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
History of ChangesChange in Primary Regulatory Agency
Change in Supervisory Agency
Institution Withdraws from FRS (Federal Reserve System)
Financial SummaryTotal assets: $227.2 mil
Equity capital: $6.8 mil
Deposits held in domestic offices: $215.8 mil
Return on assets (ROA): -3.88% (-$8.8 mil)
Quarterly return on assets: -1.52% (-$3.5 mil)
Return on Equity (ROE): -95.49% (-$6.7 mil)
Quarterly return on equity: -48.90% (-$3.4 mil)
Net income: -$9.8 mil
Quarterly Net income: -$0.9 mil
Pretax return on assets: -3.88% (-$8,815.1 mil)
Quarterly Pretax return on assets: -1.51% (-$3,430.6 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)22
Total assets$227,194
Cash and due from depository institutions$7,159
Interest-bearing balances$7,012
Securities$14,369
Federal funds sold & reverse repurchase agreements$2,079
Net loans & leases$179,551
Loan loss allowance $7,740
Trading account assets$0
Bank premises and fixed assets$267
Other real estate owned$21,152
Goodwill and other intangibles$0
All other assets$2,617
Life insurance assets$227,194
Total liabilities and capital$220,434
Total liabilities$215,759
Total deposits$209,116
Interest-bearing deposits$215,759
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,800
Other borrowed funds $0
Subordinated debt $875
All other liabilities $6,760
Total equity capital$6,760
Total bank equity capital$6,760
Perpetual preferred stock$0
Common stock$314
Surplus$34,586
Undivided profits $-28,140
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 $23,270
Earning assets $0
Long-term assets (5+ years) $992
Average Assets, year-to-date $203,011
Average Assets, quarterly $16,768
Volatile liabilities $252,210
Insider loans $232,917
FHLB advances $178,032
Loans and leases held for sale $233,467
Unused loan commitments $680
Tier 1 (core) risk-based capital $680
Tier 2 risk-based capital $6,690
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,452
Derivatives$2,645
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $11,752
Total interest expense $5,009
Net interest income $6,743
Provision for loan and lease losses $9,980
Total noninterest income -$1,070
Fiduciary activities $0
Service charges on deposit accounts $132
Trading account gains & fees $0
Additional noninterest income -$1,202
Total noninterest expense $5,772
Salaries and employee benefits $1,777
Premises and equipment expense $541
Additional noninterest expense $3,454
Pre-tax net operating income -$10,079
Securities gains (losses) $305
Applicable income taxes $5
Income before extraordinary items -$9,779
Extraordinary gains - net $0
Net income attributable to bank -$9,779
Net charge-offs $0
Cash dividends -$9,779
Sale, conversion, retirement of capital stock, net $8,618
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.21%
Cost of funding earning assets 2.22%
Net interest margin 2.99%
Noninterest income to earning assets -0.47%
Noninterest expense to earning assets 2.56%
Net operating income to assets -4.00%
Return on assets (ROA) -3.88%
Pretax return on assets -3.88%
Return on equity (ROE) -95.49%
Retained earnings to average equity (YTD only) -95.49%
Net charge-offs to loans 4.20%
Credit loss provision to net charge-offs 115.80%
Efficiency ratio-0.01%
Assets per employee$101,745
Cash dividends to net income (YTD only)10.33%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.13%
Noncurrent assets plus other real estate owned to assets 33.26%
Noncurrent loans to loans 19.55%
Net loans and leases to deposits12.42%
Net loans and leases to core deposits 83.22%
Equity capital to assets 84.37%
Core capital (leverage) ratio 2.98%
Tier 1 risk-based capital ratio 2.87%
Total risk-based capital ratio 3.76%
Memoranda
Average assets$5
Average earning assets$252,210
Average equity $10,241
Average loans $225,637
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
076803First Commercial Bank8500 Normandale Lake Boulevard, Suite 110, Bloomington, MN 55437July 15, 1999Full Service Brick and Mortar
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