First Farmers & Merchants National Bank in Le Sueur, Minnesota (MN)
| First Farmers & Merchants National Bank | |
|---|---|
| General | FDIC Certificate #: 8855 Status: Active Federal Reserve ID: 91259 Bank Holding Company (Regulatory Top Holder): 215 Holding Co. (RSSDID: 1247576, Location: Minneapolis, MN) Date Established: October 28, 1933 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) OTS Docket #: 15807 FDIC's unique #: 5650 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 |
| Location | Address: 112 South Main Street, Le Sueur, MN 56058 County: Le Sueur 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 |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $106.7 mil Equity capital: $13.6 mil Deposits held in domestic offices: $91.4 mil Return on assets (ROA): 0.58% ($0.6 mil) Quarterly return on assets: 0.77% ($0.8 mil) Return on Equity (ROE): 4.73% ($0.7 mil) Quarterly return on equity: 6.06% ($0.8 mil) Net income: $0.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.58% ($618.6 mil) Quarterly Pretax return on assets: 0.77% ($821.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 25 |
| Total assets | $106,651 |
| Cash and due from depository institutions | $6,374 |
| Interest-bearing balances | $4,153 |
| Securities | $26,750 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $67,524 |
| Loan loss allowance | $1,234 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,552 |
| Other real estate owned | $317 |
| Goodwill and other intangibles | $2,593 |
| All other assets | $1,541 |
| Life insurance assets | $106,651 |
| Total liabilities and capital | $93,056 |
| Total liabilities | $91,383 |
| Total deposits | $80,852 |
| Interest-bearing deposits | $91,383 |
| Deposits held in domestic offices | $89 |
| % insured (estimated) | 1189.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $484 |
| All other liabilities | $13,595 |
| Total equity capital | $13,595 |
| Total bank equity capital | $13,595 |
| Perpetual preferred stock | $0 |
| Common stock | $351 |
| Surplus | $9,750 |
| Undivided profits | $3,494 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $716 |
| Income earned, not collected on loans | $3,258 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $618 |
| Average Assets, year-to-date | $98,427 |
| Average Assets, quarterly | $11,340 |
| Volatile liabilities | $107,532 |
| Insider loans | $106,348 |
| FHLB advances | $79,183 |
| Loans and leases held for sale | $104,358 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $10,231 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $14,580 |
| Derivatives | $11 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $4,723 |
| Total interest expense | $775 |
| Net interest income | $3,948 |
| Provision for loan and lease losses | $310 |
| Total noninterest income | $121 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $182 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$61 |
| Total noninterest expense | $3,137 |
| Salaries and employee benefits | $1,472 |
| Premises and equipment expense | $325 |
| Additional noninterest expense | $1,340 |
| Pre-tax net operating income | $622 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $3 |
| Income before extraordinary items | $619 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $619 |
| Net charge-offs | $0 |
| Cash dividends | $619 |
| Sale, conversion, retirement of capital stock, net | $22 |
| Net operating income | $411 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.76% |
| Cost of funding earning assets | 0.78% |
| Net interest margin | 3.98% |
| Noninterest income to earning assets | 0.12% |
| Noninterest expense to earning assets | 3.16% |
| Net operating income to assets | 0.58% |
| Return on assets (ROA) | 0.58% |
| Pretax return on assets | 0.58% |
| Return on equity (ROE) | 4.73% |
| Retained earnings to average equity (YTD only) | 1.59% |
| Net charge-offs to loans | 0.03% |
| Credit loss provision to net charge-offs | 1409.09% |
| Efficiency ratio | 42.36% |
| Assets per employee | $77,095 |
| Cash dividends to net income (YTD only) | 4.27% |
| Condition Ratios (%) | |
| Loss allowance to loans | 66.40% |
| Loss allowance to noncurrent loans | 1.79% |
| Noncurrent assets plus other real estate owned to assets | 37.88% |
| Noncurrent loans to loans | 3.35% |
| Net loans and leases to deposits | 4.74% |
| Net loans and leases to core deposits | 73.89% |
| Equity capital to assets | 79.14% |
| Core capital (leverage) ratio | 12.75% |
| Tier 1 risk-based capital ratio | 9.80% |
| Total risk-based capital ratio | 12.92% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $107,532 |
| Average equity | $13,074 |
| Average loans | $99,287 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5650 | First Farmers & Merchants National B | 112 South Main Street, Le Sueur, MN 56058 | October 28, 1933 | Full Service Brick and Mortar |  |
| 1 | 742 | Cannon Falls | 123 South Fourth Street, Cannon Falls, MN 55009 | January 08, 1927 | Full Service Brick and Mortar |  |
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