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

  • 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
    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
  • 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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