First Community National Bank in Corning, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 24, 2002

  • First Community National Bank in Corning, Iowa (IA)
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First Community National Bank - Overview

  • General
  • FDIC Certificate #: 13997
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Union Bank, National Association (#34485)
    Federal Reserve ID: 670645
    Date Established: January 01, 1934
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 2 (Interstate: No)
    OTS Docket #: 12303
    FDIC's unique #: 8753
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: December 24, 2002
    Last Structure Change Process Date: January 24, 2003
    Last Data Update: January 24, 2003
    Data Source Date: April 05, 2012
  • Location
  • Address: 620 Davis Avenue, Corning, IA 50841
    County: Adams
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • Financial Summary
  • Total assets: $25.9 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, 2001)

  • Dollar figures in thousands
  • 15Total employees (full-time equivalent)
  • $27,330Total assets
  • $2,658Cash and due from depository institutions
  • $1,407Interest-bearing balances
  • $1,282Securities
  • $3,200Federal funds sold & reverse repurchase agreements
  • $19,090Net loans & leases
  • $168Loan loss allowance
  • $0Trading account assets
  • $271Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $829All other assets
  • $27,330Total liabilities and capital
  • $24,659Total liabilities
  • $23,490Total deposits
  • $20,247Interest-bearing deposits
  • $23,490Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $1,000Other borrowed funds
  • $0Subordinated debt
  • $169All other liabilities
  • $2,671Total equity capital
  • $2,671Total bank equity capital
  • $2,671Perpetual preferred stock
  • $0Common stock
  • $400Surplus
  • $1,105Undivided profits
  • Memoranda
  • $1,166Noncurrent loans and leases
  • $2,509Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $0Long-term assets (5+ years)
  • $315Average Assets, year-to-date
  • $24,979Average Assets, quarterly
  • $761Volatile liabilities
  • $26,901Insider loans
  • $26,948FHLB advances
  • $1,645Loans and leases held for sale
  • $425Unused loan commitments
  • $1,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,509Total unused commitments
  • $0Restructured Loans and leases
  • $168Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $1,823Total interest income
  • $675Total interest expense
  • $1,148Net interest income
  • $48Provision for loan and lease losses
  • $133Total noninterest income
  • $0Fiduciary activities
  • $89Service charges on deposit accounts
  • $0Trading account gains & fees
  • $44Additional noninterest income
  • $1,045Total noninterest expense
  • $421Salaries and employee benefits
  • $148Premises and equipment expense
  • $476Additional noninterest expense
  • $188Pre-tax net operating income
  • $3Securities gains (losses)
  • $9Applicable income taxes
  • $182Income before extraordinary items
  • $0Extraordinary gains - net
  • $182Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$3Sale, conversion, retirement of capital stock, net
  • $90Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.38%Yield on earning assets
  • 2.73%Cost of funding earning assets
  • 4.65%Net interest margin
  • 0.54%Noninterest income to earning assets
  • 4.23%Noninterest expense to earning assets
  • 0.67%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 0.71%Pretax return on assets
  • 6.89%Return on equity (ROE)
  • 3.48%Retained earnings to average equity (YTD only)
  • -0.02%Net charge-offs to loans
  • -1600.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 81,577Assets per employee
  • 1.82%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 49.45%Loss allowance to loans
  • 0.87%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 81.27%Net loans and leases to core deposits
  • 87.39%Equity capital to assets
  • 9.77%Core capital (leverage) ratio
  • 9.72%Tier 1 risk-based capital ratio
  • 13.03%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $26,901Average earning assets
  • $2,640Average equity
  • $24,686Average loans

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