First Farmers & Merchants National Bank in Fairmont, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Farmers & Merchants National Bank - Overview

  • General
  • FDIC Certificate #: 33131
    Status: Active
    Federal Reserve ID: 1470150
    Bank Holding Company (Regulatory Top Holder): 215 Holding Co. (RSSDID: 1247576, Location: Minneapolis, MN)
    Date Established: September 07, 1990
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 46366
    Numeric code: 3
    Regulator: OCC
    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: No
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: September 07, 1990
    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
  • Location
  • Address: 114 South Park, Fairmont, MN 56031
    County: Martin
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Fairmont, MN (#21860)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $87.5 mil
    Equity capital: $10.8 mil
    Deposits held in domestic offices: $69.2 mil
    Return on assets (ROA): 1.60% ($1.4 mil)
    Quarterly return on assets: 2.08% ($1.8 mil)
    Return on Equity (ROE): 12.72% ($1.4 mil)
    Quarterly return on equity: 16.63% ($1.8 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.60% ($1,400.1 mil)
    Quarterly Pretax return on assets: 2.08% ($1,820.2 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
  • 15Total employees (full-time equivalent)
  • $87,508Total assets
  • $2,752Cash and due from depository institutions
  • $530Interest-bearing balances
  • $10,752Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $71,954Net loans & leases
  • $853Loan loss allowance
  • $0Trading account assets
  • $552Bank premises and fixed assets
  • $325Other real estate owned
  • $0Goodwill and other intangibles
  • $87,508Life insurance assets
  • $1,173All other assets
  • $76,731Total liabilities and capital
  • $69,176Total liabilities
  • $58,232Total deposits
  • $69,176Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 6208.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,000Trading liabilities
  • $0Other borrowed funds
  • $347Subordinated debt
  • $10,777All other liabilities
  • $10,777Total equity capital
  • $10,777Total bank equity capital
  • $0Perpetual preferred stock
  • $1,445Common stock
  • $3,176Surplus
  • $6,156Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $65Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $923Income earned, not collected on loans
  • $0Earning assets
  • $452Long-term assets (5+ years)
  • $83,236Average Assets, year-to-date
  • $5,070Average Assets, quarterly
  • $83,809Volatile liabilities
  • $85,819Insider loans
  • $74,728FHLB advances
  • $84,619Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,383Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,513Restructured Loans and leases
  • $698Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,246Total interest income
  • $651Total interest expense
  • $3,595Net interest income
  • $110Provision for loan and lease losses
  • $176Total noninterest income
  • $0Fiduciary activities
  • $151Service charges on deposit accounts
  • $0Trading account gains & fees
  • $25Additional noninterest income
  • $2,322Total noninterest expense
  • $1,108Salaries and employee benefits
  • $206Premises and equipment expense
  • $1,008Additional noninterest expense
  • $1,339Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • $1,337Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,337Net income attributable to bank
  • $0Net charge-offs
  • $1,337Cash dividends
  • $42Sale, conversion, retirement of capital stock, net
  • $1,038Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.28%Yield on earning assets
  • 0.81%Cost of funding earning assets
  • 4.47%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 2.89%Noninterest expense to earning assets
  • 1.60%Net operating income to assets
  • 1.60%Return on assets (ROA)
  • 1.60%Pretax return on assets
  • 12.72%Return on equity (ROE)
  • 2.84%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 261.90%Credit loss provision to net charge-offs
  • 34.50%Efficiency ratio
  • 61,575Assets per employee
  • 5.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 77.64%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 92.42%Noncurrent assets plus other real estate owned to assets
  • 1.43%Noncurrent loans to loans
  • 1.27%Net loans and leases to deposits
  • 104.02%Net loans and leases to core deposits
  • 128.13%Equity capital to assets
  • 12.32%Core capital (leverage) ratio
  • 12.27%Tier 1 risk-based capital ratio
  • 13.89%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $83,809Average earning assets
  • $10,513Average equity
  • $80,419Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    046366First Farmers & Merchants National B114 South Park, Fairmont, MN 56031September 07, 1990Full Service Brick and Mortar
    2419205St. Paul Branch332 Minnesota Street, Saint Paul, MN 55101April 11, 2003Full Service Brick and Mortar

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