First Farmers & Merchants National Bank in Fairmont, Minnesota (MN)
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| First Farmers & Merchants National Bank | |
|---|---|
| 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 WWW: http://www.ffmbank.com 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 15 |
| Total assets | $87,508 |
| Cash and due from depository institutions | $2,752 |
| Interest-bearing balances | $530 |
| Securities | $10,752 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $71,954 |
| Loan loss allowance | $853 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $552 |
| Other real estate owned | $325 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,173 |
| Life insurance assets | $87,508 |
| Total liabilities and capital | $76,731 |
| Total liabilities | $69,176 |
| Total deposits | $58,232 |
| Interest-bearing deposits | $69,176 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 6208.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $347 |
| All other liabilities | $10,777 |
| Total equity capital | $10,777 |
| Total bank equity capital | $10,777 |
| Perpetual preferred stock | $0 |
| Common stock | $1,445 |
| Surplus | $3,176 |
| Undivided profits | $6,156 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $65 |
| Income earned, not collected on loans | $923 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $452 |
| Average Assets, year-to-date | $83,236 |
| Average Assets, quarterly | $5,070 |
| Volatile liabilities | $83,809 |
| Insider loans | $85,819 |
| FHLB advances | $74,728 |
| Loans and leases held for sale | $84,619 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $10,383 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $18,513 |
| Derivatives | $698 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $4,246 |
| Total interest expense | $651 |
| Net interest income | $3,595 |
| Provision for loan and lease losses | $110 |
| Total noninterest income | $176 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $151 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $25 |
| Total noninterest expense | $2,322 |
| Salaries and employee benefits | $1,108 |
| Premises and equipment expense | $206 |
| Additional noninterest expense | $1,008 |
| Pre-tax net operating income | $1,339 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $1,337 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,337 |
| Net charge-offs | $0 |
| Cash dividends | $1,337 |
| Sale, conversion, retirement of capital stock, net | $42 |
| Net operating income | $1,038 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.28% |
| Cost of funding earning assets | 0.81% |
| Net interest margin | 4.47% |
| Noninterest income to earning assets | 0.22% |
| Noninterest expense to earning assets | 2.89% |
| Net operating income to assets | 1.60% |
| Return on assets (ROA) | 1.60% |
| Pretax return on assets | 1.60% |
| Return on equity (ROE) | 12.72% |
| Retained earnings to average equity (YTD only) | 2.84% |
| Net charge-offs to loans | 0.06% |
| Credit loss provision to net charge-offs | 261.90% |
| Efficiency ratio | 34.50% |
| Assets per employee | $61,575 |
| Cash dividends to net income (YTD only) | 5.83% |
| Condition Ratios (%) | |
| Loss allowance to loans | 77.64% |
| Loss allowance to noncurrent loans | 1.17% |
| Noncurrent assets plus other real estate owned to assets | 92.42% |
| Noncurrent loans to loans | 1.43% |
| Net loans and leases to deposits | 1.27% |
| Net loans and leases to core deposits | 104.02% |
| Equity capital to assets | 128.13% |
| Core capital (leverage) ratio | 12.32% |
| Tier 1 risk-based capital ratio | 12.27% |
| Total risk-based capital ratio | 13.89% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $83,809 |
| Average equity | $10,513 |
| Average loans | $80,419 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 46366 | First Farmers & Merchants National B | 114 South Park, Fairmont, MN 56031 | September 07, 1990 | Full Service Brick and Mortar |  |
| 2 | 419205 | St. Paul Branch | 332 Minnesota Street, Saint Paul, MN 55101 | April 11, 2003 | Full Service Brick and Mortar |  |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.