First Farmers and Merchants National Bank in Luverne, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Farmers and Merchants National Bank in Luverne, Minnesota (MN)
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First Farmers and Merchants National Bank - Overview

  • General
  • FDIC Certificate #: 5186
    Status: Active
    Federal Reserve ID: 917854
    Bank Holding Company (Regulatory Top Holder): 215 Holding Co. (RSSDID: 1247576, Location: Minneapolis, MN)
    Date Established: January 01, 1931
    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)
    FDIC's unique #: 3476
    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: 303 East Main Street, Luverne, MN 56156
    County: Rock
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux Falls
    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: $154.1 mil
    Equity capital: $18.9 mil
    Deposits held in domestic offices: $129.5 mil
    Return on assets (ROA): 1.95% ($3.0 mil)
    Quarterly return on assets: 2.22% ($3.4 mil)
    Return on Equity (ROE): 16.32% ($3.1 mil)
    Quarterly return on equity: 17.94% ($3.4 mil)
    Net income: $2.9 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.96% ($3,020.6 mil)
    Quarterly Pretax return on assets: 2.23% ($3,436.7 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
  • 46Total employees (full-time equivalent)
  • $154,111Total assets
  • $16,527Cash and due from depository institutions
  • $9,188Interest-bearing balances
  • $23,606Securities
  • $4,790Federal funds sold & reverse repurchase agreements
  • $104,350Net loans & leases
  • $1,020Loan loss allowance
  • $0Trading account assets
  • $853Bank premises and fixed assets
  • $1,115Other real estate owned
  • $0Goodwill and other intangibles
  • $154,111Life insurance assets
  • $2,870All other assets
  • $135,251Total liabilities and capital
  • $129,548Total liabilities
  • $99,977Total deposits
  • $129,548Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 1755.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,332Trading liabilities
  • $0Other borrowed funds
  • $616Subordinated debt
  • $18,860All other liabilities
  • $18,860Total equity capital
  • $18,860Total bank equity capital
  • $0Perpetual preferred stock
  • $1,420Common stock
  • $4,042Surplus
  • $13,398Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $233Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $406Income earned, not collected on loans
  • $0Earning assets
  • $1,181Long-term assets (5+ years)
  • $141,934Average Assets, year-to-date
  • $16,598Average Assets, quarterly
  • $149,556Volatile liabilities
  • $151,173Insider loans
  • $119,631FHLB advances
  • $147,792Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $18,051Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $32,859Restructured Loans and leases
  • $106Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,827Total interest income
  • $824Total interest expense
  • $6,003Net interest income
  • $45Provision for loan and lease losses
  • $2,739Total noninterest income
  • $0Fiduciary activities
  • $233Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,506Additional noninterest income
  • $5,785Total noninterest expense
  • $2,720Salaries and employee benefits
  • $349Premises and equipment expense
  • $2,716Additional noninterest expense
  • $2,912Pre-tax net operating income
  • $14Securities gains (losses)
  • $3Applicable income taxes
  • $2,923Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,923Net income attributable to bank
  • $0Net charge-offs
  • $2,923Cash dividends
  • $31Sale, conversion, retirement of capital stock, net
  • $1,638Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.99%Yield on earning assets
  • 0.60%Cost of funding earning assets
  • 4.39%Net interest margin
  • 2.00%Noninterest income to earning assets
  • 4.23%Noninterest expense to earning assets
  • 1.95%Net operating income to assets
  • 1.95%Return on assets (ROA)
  • 1.96%Pretax return on assets
  • 16.32%Return on equity (ROE)
  • 7.17%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 145.16%Credit loss provision to net charge-offs
  • 95.39%Efficiency ratio
  • 66,175Assets per employee
  • 3.35%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 56.04%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 251.23%Noncurrent assets plus other real estate owned to assets
  • 0.99%Noncurrent loans to loans
  • 0.39%Net loans and leases to deposits
  • 80.55%Net loans and leases to core deposits
  • 84.11%Equity capital to assets
  • 12.24%Core capital (leverage) ratio
  • 12.21%Tier 1 risk-based capital ratio
  • 15.09%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $149,556Average earning assets
  • $17,916Average equity
  • $136,751Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    03476First Farmers And Merchants National303 East Main Street, Luverne, MN 56156January 01, 1931Full Service Brick and Mortar
    13513Pipestone Branch107 East Main Street, Pipestone, MN 56164January 01, 1879Full Service Brick and Mortar

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