First Farmers & Merchants State Bank of Grand Meadow in Grand Meadow, Minnesota (MN)

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First Farmers & Merchants State Bank of Grand Meadow routing number info

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First Farmers & Merchants State Bank of Grand Meadow
GeneralFDIC Certificate #: 15621
Status: Active
Federal Reserve ID: 77150
Bank Holding Company (Regulatory Top Holder): 215 Holding Co. (RSSDID: 1247576, Location: Minneapolis, MN)
Date Established: April 09, 1938
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 #: 9902
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: October 04, 1938
Last Structure Change Effective Date: September 19, 2007
Last Structure Change Process Date: September 19, 2007
Last Data Update: September 19, 2007
Data Source Date: April 05, 2012
LocationAddress: 105 North Main Street, Grand Meadow, MN 55936
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 ChangesChange in Location
Financial SummaryTotal assets: $41.0 mil
Equity capital: $5.3 mil
Deposits held in domestic offices: $34.1 mil
Return on assets (ROA): 0.68% ($0.3 mil)
Quarterly return on assets: 0.91% ($0.4 mil)
Return on Equity (ROE): 5.05% ($0.3 mil)
Quarterly return on equity: 6.56% ($0.3 mil)
Net income: $0.3 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.69% ($282.9 mil)
Quarterly Pretax return on assets: 0.92% ($377.3 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)
Total employees (full-time equivalent)13
Total assets$41,007
Cash and due from depository institutions$5,049
Interest-bearing balances$2,425
Federal funds sold & reverse repurchase agreements$1,121
Net loans & leases$23,643
Loan loss allowance $461
Trading account assets$0
Bank premises and fixed assets$1,135
Other real estate owned$445
Goodwill and other intangibles$0
All other assets$554
Life insurance assets$41,007
Total liabilities and capital$35,686
Total liabilities$34,054
Total deposits$25,916
Interest-bearing deposits$34,054
Deposits held in domestic offices$86
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,500
Other borrowed funds $0
Subordinated debt $132
All other liabilities $5,321
Total equity capital$5,321
Total bank equity capital$5,321
Perpetual preferred stock$0
Common stock$100
Undivided profits $798
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 $190
Earning assets $0
Long-term assets (5+ years) $286
Average Assets, year-to-date $36,249
Average Assets, quarterly $4,102
Volatile liabilities $38,546
Insider loans $38,813
FHLB advances $28,880
Loans and leases held for sale $37,925
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $4,901
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,013
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,703
Total interest expense $227
Net interest income $1,476
Provision for loan and lease losses $0
Total noninterest income $137
Fiduciary activities $0
Service charges on deposit accounts $62
Trading account gains & fees $0
Additional noninterest income $75
Total noninterest expense $1,346
Salaries and employee benefits $625
Premises and equipment expense $210
Additional noninterest expense $511
Pre-tax net operating income $267
Securities gains (losses) $0
Applicable income taxes $3
Income before extraordinary items $264
Extraordinary gains - net $0
Net income attributable to bank $264
Net charge-offs $0
Cash dividends $264
Sale, conversion, retirement of capital stock, net -$169
Net operating income $291
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.84%
Cost of funding earning assets 0.65%
Net interest margin 4.20%
Noninterest income to earning assets 0.39%
Noninterest expense to earning assets 3.83%
Net operating income to assets 0.68%
Return on assets (ROA) 0.68%
Pretax return on assets 0.69%
Return on equity (ROE) 5.05%
Retained earnings to average equity (YTD only) -0.52%
Net charge-offs to loans -0.73%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$83,447
Cash dividends to net income (YTD only)3.15%
Condition Ratios (%)
Loss allowance to loans 110.23%
Loss allowance to noncurrent loans 1.91%
Noncurrent assets plus other real estate owned to assets 242.63%
Noncurrent loans to loans 1.55%
Net loans and leases to deposits0.79%
Net loans and leases to core deposits 69.43%
Equity capital to assets 76.60%
Core capital (leverage) ratio 12.98%
Tier 1 risk-based capital ratio 12.92%
Total risk-based capital ratio 16.97%
Average assets$18
Average earning assets$38,546
Average equity $5,231
Average loans $35,173
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09902First Farmers & Merchants State Bank105 North Main Street, Grand Meadow, MN 55936April 09, 1938Full Service Brick and Mortar
1234678Detached Facility19 East Main Street, Racine, MN 55967August 01, 1978Limited Service Facility
2445570Stewartville Branch111 20th Street Ne, Stewartville, MN 55976November 01, 2005Full Service Brick and Mortar
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