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

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First Farmers and Merchants National Bank
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)46
Total assets$154,111
Cash and due from depository institutions$16,527
Interest-bearing balances$9,188
Federal funds sold & reverse repurchase agreements$4,790
Net loans & leases$104,350
Loan loss allowance $1,020
Trading account assets$0
Bank premises and fixed assets$853
Other real estate owned$1,115
Goodwill and other intangibles$0
All other assets$2,870
Life insurance assets$154,111
Total liabilities and capital$135,251
Total liabilities$129,548
Total deposits$99,977
Interest-bearing deposits$129,548
Deposits held in domestic offices$85
% insured (estimated)1755.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,332
Other borrowed funds $0
Subordinated debt $616
All other liabilities $18,860
Total equity capital$18,860
Total bank equity capital$18,860
Perpetual preferred stock$0
Common stock$1,420
Undivided profits $13,398
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $233
Income earned, not collected on loans $406
Earning assets $0
Long-term assets (5+ years) $1,181
Average Assets, year-to-date $141,934
Average Assets, quarterly $16,598
Volatile liabilities $149,556
Insider loans $151,173
FHLB advances $119,631
Loans and leases held for sale $147,792
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $18,051
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $32,859
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,827
Total interest expense $824
Net interest income $6,003
Provision for loan and lease losses $45
Total noninterest income $2,739
Fiduciary activities $0
Service charges on deposit accounts $233
Trading account gains & fees $0
Additional noninterest income $2,506
Total noninterest expense $5,785
Salaries and employee benefits $2,720
Premises and equipment expense $349
Additional noninterest expense $2,716
Pre-tax net operating income $2,912
Securities gains (losses) $14
Applicable income taxes $3
Income before extraordinary items $2,923
Extraordinary gains - net $0
Net income attributable to bank $2,923
Net charge-offs $0
Cash dividends $2,923
Sale, conversion, retirement of capital stock, net $31
Net operating income $1,638
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.99%
Cost of funding earning assets 0.60%
Net interest margin 4.39%
Noninterest income to earning assets 2.00%
Noninterest expense to earning assets 4.23%
Net operating income to assets 1.95%
Return on assets (ROA) 1.95%
Pretax return on assets 1.96%
Return on equity (ROE) 16.32%
Retained earnings to average equity (YTD only) 7.17%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs 145.16%
Efficiency ratio95.39%
Assets per employee$66,175
Cash dividends to net income (YTD only)3.35%
Condition Ratios (%)
Loss allowance to loans 56.04%
Loss allowance to noncurrent loans 0.97%
Noncurrent assets plus other real estate owned to assets 251.23%
Noncurrent loans to loans 0.99%
Net loans and leases to deposits0.39%
Net loans and leases to core deposits 80.55%
Equity capital to assets 84.11%
Core capital (leverage) ratio 12.24%
Tier 1 risk-based capital ratio 12.21%
Total risk-based capital ratio 15.09%
Average assets$16
Average earning assets$149,556
Average equity $17,916
Average loans $136,751
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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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