First Farmers & Merchants State Bank in Brownsdale, Minnesota (MN)
| First Farmers & Merchants State Bank | |
|---|---|
| General | FDIC Certificate #: 1600 Status: Active Federal Reserve ID: 276654 Bank Holding Company (Regulatory Top Holder): 215 Holding Co. (RSSDID: 1247576, Location: Minneapolis, MN) Date Established: Febuary 08, 1908 WWW: http://www.ffmbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 1044 Numeric code: 21 Regulator: FDIC 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: Yes 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: 106 W Main St, Brownsdale, MN 55918 County: Mower 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 Core Based Statistical Area (CBSA): Austin, MN (#12380) CBSA Micro Statistical Area: Yes |
| History of Changes | Corrections Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $84.3 mil Equity capital: $11.3 mil Deposits held in domestic offices: $68.9 mil Return on assets (ROA): 0.98% ($0.8 mil) Quarterly return on assets: 1.45% ($1.2 mil) Return on Equity (ROE): 7.43% ($0.8 mil) Quarterly return on equity: 10.50% ($1.2 mil) Net income: $0.8 mil Quarterly Net income: $0.3 mil Pretax return on assets: 0.98% ($826.1 mil) Quarterly Pretax return on assets: 1.46% ($1,230.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 19 |
| Total assets | $84,293 |
| Cash and due from depository institutions | $2,343 |
| Interest-bearing balances | $961 |
| Securities | $30,904 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $47,804 |
| Loan loss allowance | $613 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $778 |
| Other real estate owned | $1,258 |
| Goodwill and other intangibles | $304 |
| All other assets | $902 |
| Life insurance assets | $84,293 |
| Total liabilities and capital | $73,006 |
| Total liabilities | $68,905 |
| Total deposits | $58,456 |
| Interest-bearing deposits | $68,905 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 3817.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $284 |
| All other liabilities | $11,287 |
| Total equity capital | $11,287 |
| Total bank equity capital | $11,287 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $6,562 |
| Undivided profits | $4,625 |
| 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 | $519 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $500 |
| Average Assets, year-to-date | $79,669 |
| Average Assets, quarterly | $17,459 |
| Volatile liabilities | $80,736 |
| Insider loans | $81,715 |
| FHLB advances | $57,558 |
| Loans and leases held for sale | $79,755 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $9,362 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $8,996 |
| Derivatives | $10 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $3,537 |
| Total interest expense | $531 |
| Net interest income | $3,006 |
| Provision for loan and lease losses | $116 |
| Total noninterest income | $133 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $157 |
| Trading account gains & fees | $0 |
| Additional noninterest income | -$24 |
| Total noninterest expense | $2,229 |
| Salaries and employee benefits | $1,036 |
| Premises and equipment expense | $170 |
| Additional noninterest expense | $1,023 |
| Pre-tax net operating income | $794 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $792 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $792 |
| Net charge-offs | $0 |
| Cash dividends | $792 |
| Sale, conversion, retirement of capital stock, net | $195 |
| Net operating income | $561 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.64% |
| Cost of funding earning assets | 0.70% |
| Net interest margin | 3.94% |
| Noninterest income to earning assets | 0.17% |
| Noninterest expense to earning assets | 2.92% |
| Net operating income to assets | 0.98% |
| Return on assets (ROA) | 0.98% |
| Pretax return on assets | 0.98% |
| Return on equity (ROE) | 7.43% |
| Retained earnings to average equity (YTD only) | 2.17% |
| Net charge-offs to loans | 0.41% |
| Credit loss provision to net charge-offs | 59.49% |
| Efficiency ratio | 4.67% |
| Assets per employee | $71,010 |
| Cash dividends to net income (YTD only) | 4.44% |
| Condition Ratios (%) | |
| Loss allowance to loans | 70.83% |
| Loss allowance to noncurrent loans | 1.27% |
| Noncurrent assets plus other real estate owned to assets | 118.11% |
| Noncurrent loans to loans | 2.11% |
| Net loans and leases to deposits | 1.07% |
| Net loans and leases to core deposits | 69.38% |
| Equity capital to assets | 79.81% |
| Core capital (leverage) ratio | 13.39% |
| Tier 1 risk-based capital ratio | 11.74% |
| Total risk-based capital ratio | 16.27% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $80,736 |
| Average equity | $10,666 |
| Average loans | $76,222 |
| 3 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 1044 | First Farmers & Merchants State Bank | 106 W Main St, Brownsdale, MN 55918 | Febuary 08, 1908 | Full Service Brick and Mortar |  |
| 2 | 42567 | Austin Branch | 128 N Main St, Austin, MN 55912 | January 01, 1887 | Full Service Brick and Mortar |  |
| 3 | 441636 | Sargeant Branch | 103 Main St Sw, Sargeant, MN 55973 | August 06, 1993 | Full Service Brick and Mortar | |
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