First Farmers & Merchants State Bank of Grand Meadow in city_name, state_name

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

First Farmers & Merchants State Bank of Grand Meadow - Overview

General
FDIC 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
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 #: 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
Location
Address: 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 Changes
Change in Location
Financial Summary
Total 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
13Total employees (full-time equivalent)
$41,007Total assets
$5,049Cash and due from depository institutions
$2,425Interest-bearing balances
$9,060Securities
$1,121Federal funds sold & reverse repurchase agreements
$23,643Net loans & leases
$461Loan loss allowance
$0Trading account assets
$1,135Bank premises and fixed assets
$445Other real estate owned
$0Goodwill and other intangibles
$41,007Life insurance assets
$554All other assets
$35,686Total liabilities and capital
$34,054Total liabilities
$25,916Total deposits
$34,054Interest-bearing deposits
$86Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$1,500Trading liabilities
$0Other borrowed funds
$132Subordinated debt
$5,321All other liabilities
$5,321Total equity capital
$5,321Total bank equity capital
$0Perpetual preferred stock
$100Common stock
$4,423Surplus
$798Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$190Income earned, not collected on loans
$0Earning assets
$286Long-term assets (5+ years)
$36,249Average Assets, year-to-date
$4,102Average Assets, quarterly
$38,546Volatile liabilities
$38,813Insider loans
$28,880FHLB advances
$37,925Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$4,901Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$4,013Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$1,703Total interest income
$227Total interest expense
$1,476Net interest income
$0Provision for loan and lease losses
$137Total noninterest income
$0Fiduciary activities
$62Service charges on deposit accounts
$0Trading account gains & fees
$75Additional noninterest income
$1,346Total noninterest expense
$625Salaries and employee benefits
$210Premises and equipment expense
$511Additional noninterest expense
$267Pre-tax net operating income
$0Securities gains (losses)
$3Applicable income taxes
$264Income before extraordinary items
$0Extraordinary gains - net
$264Net income attributable to bank
$0Net charge-offs
$264Cash dividends
-$169Sale, conversion, retirement of capital stock, net
$291Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
4.84%Yield on earning assets
0.65%Cost of funding earning assets
4.20%Net interest margin
0.39%Noninterest income to earning assets
3.83%Noninterest expense to earning assets
0.68%Net operating income to assets
0.68%Return on assets (ROA)
0.69%Pretax return on assets
5.05%Return on equity (ROE)
-0.52%Retained earnings to average equity (YTD only)
-0.73%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
83,447Assets per employee
3.15%Cash dividends to net income (YTD only)
Condition Ratios (%)
110.23%Loss allowance to loans
1.91%Loss allowance to noncurrent loans
242.63%Noncurrent assets plus other real estate owned to assets
1.55%Noncurrent loans to loans
0.79%Net loans and leases to deposits
69.43%Net loans and leases to core deposits
76.60%Equity capital to assets
12.98%Core capital (leverage) ratio
12.92%Tier 1 risk-based capital ratio
16.97%Total risk-based capital ratio
Memoranda
$18Average assets
$38,546Average earning assets
$5,231Average equity
$35,173Average loans

List of branches

3 Minnesota Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	9902	First Farmers & Merchants State Bank	105 North Main Street, Grand Meadow, MN 55936	April 09, 1938	Full Service Brick and Mortar
1	234678	Detached Facility	19 East Main Street, Racine, MN 55967	August 01, 1978	Limited Service Facility
2	445570	Stewartville Branch	111 20th Street Ne, Stewartville, MN 55976	November 01, 2005	Full Service Brick and Mortar

First Farmers & Merchants State Bank of Grand Meadow in Grand Meadow, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Farmers & Merchants State Bank of Grand Meadow - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

First Farmers & Merchants State Bank of Grand Meadow in Grand Meadow, Minnesota (MN)Overview, Financial Summary, Detailed Financial Reports, Branches

First Farmers & Merchants State Bank of Grand Meadow - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

First Farmers & Merchants State Bank of Grand Meadow in Grand Meadow, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches