First Minnetonka City Bank in Minnetonka, Minnesota (MN)
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| First Minnetonka City Bank | |
|---|---|
| General | FDIC Certificate #: 19188 Status: Active Federal Reserve ID: 691556 Bank Holding Company (Regulatory Top Holder): First Minnetonka Bancorporation, Inc. (RSSDID: 1125450, Location: Minnetonka, MN) Date Established: July 27, 1964 WWW: http://www.fmcbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Domestic: 3, Interstate: No) OTS Docket #: 12432 FDIC's unique #: 13008 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: All Other Specialization < 1 Billion Date of Deposit Insurance: July 27, 1964 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: 14550 Excelsior Boulevard, Minnetonka, MN 55345 County: Hennepin 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 Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $190.4 mil Equity capital: $19.9 mil Deposits held in domestic offices: $166.7 mil Return on assets (ROA): 1.22% ($2.3 mil) Quarterly return on assets: 1.44% ($2.7 mil) Return on Equity (ROE): 12.35% ($2.5 mil) Quarterly return on equity: 13.87% ($2.8 mil) Net income: $2.2 mil Quarterly Net income: $0.7 mil Pretax return on assets: 1.22% ($2,322.5 mil) Quarterly Pretax return on assets: 1.44% ($2,741.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 39 |
| Total assets | $190,368 |
| Cash and due from depository institutions | $12,857 |
| Interest-bearing balances | $7,548 |
| Securities | $60,234 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $107,544 |
| Loan loss allowance | $1,370 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,343 |
| Other real estate owned | $444 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,946 |
| Life insurance assets | $190,367 |
| Total liabilities and capital | $170,479 |
| Total liabilities | $166,700 |
| Total deposits | $134,884 |
| Interest-bearing deposits | $166,700 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 3400.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $379 |
| All other liabilities | $19,888 |
| Total equity capital | $19,888 |
| Total bank equity capital | $19,888 |
| Perpetual preferred stock | $0 |
| Common stock | $150 |
| Surplus | $10,350 |
| Undivided profits | $9,388 |
| Memoranda | |
| 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 | $2,258 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $703 |
| Average Assets, year-to-date | $175,326 |
| Average Assets, quarterly | $66,056 |
| Volatile liabilities | $182,149 |
| Insider loans | $188,176 |
| FHLB advances | $123,533 |
| Loans and leases held for sale | $186,451 |
| Unused loan commitments | $4,396 |
| Tier 1 (core) risk-based capital | $4,396 |
| Tier 2 risk-based capital | $17,783 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $33,158 |
| Derivatives | $484 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $7,307 |
| Total interest expense | $1,260 |
| Net interest income | $6,047 |
| Provision for loan and lease losses | $545 |
| Total noninterest income | $1,396 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $550 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $846 |
| Total noninterest expense | $4,673 |
| Salaries and employee benefits | $3,135 |
| Premises and equipment expense | $545 |
| Additional noninterest expense | $993 |
| Pre-tax net operating income | $2,225 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $9 |
| Income before extraordinary items | $2,216 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,216 |
| Net charge-offs | $0 |
| Cash dividends | $2,216 |
| Sale, conversion, retirement of capital stock, net | $931 |
| Net operating income | $1,331 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.36% |
| Cost of funding earning assets | 0.75% |
| Net interest margin | 3.60% |
| Noninterest income to earning assets | 0.83% |
| Noninterest expense to earning assets | 2.79% |
| Net operating income to assets | 1.22% |
| Return on assets (ROA) | 1.22% |
| Pretax return on assets | 1.22% |
| Return on equity (ROE) | 12.35% |
| Retained earnings to average equity (YTD only) | 4.93% |
| Net charge-offs to loans | 0.85% |
| Credit loss provision to net charge-offs | 58.54% |
| Efficiency ratio | 2.98% |
| Assets per employee | $62,784 |
| Cash dividends to net income (YTD only) | 4.88% |
| Condition Ratios (%) | |
| Loss allowance to loans | 60.06% |
| Loss allowance to noncurrent loans | 1.26% |
| Noncurrent assets plus other real estate owned to assets | 60.67% |
| Noncurrent loans to loans | 1.42% |
| Net loans and leases to deposits | 2.07% |
| Net loans and leases to core deposits | 64.51% |
| Equity capital to assets | 67.64% |
| Core capital (leverage) ratio | 10.45% |
| Tier 1 risk-based capital ratio | 9.54% |
| Total risk-based capital ratio | 14.40% |
| Memoranda | |
| Average assets | $16 |
| Average earning assets | $182,149 |
| Average equity | $17,940 |
| Average loans | $167,747 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 13008 | First Minnetonka City Bank | 14550 Excelsior Boulevard, Minnetonka, MN 55345 | July 27, 1964 | Full Service Brick and Mortar |  |
| 1 | 247544 | Country Village Branch | 11500 Highway Seven, Minnetonka, MN 55343 | August 24, 1981 | Full Service Brick and Mortar |  |
| 2 | 438802 | Beacon Hill Branch | 5330 Beacon Hill Road, Minnetonka, MN 55345 | January 04, 2005 | Limited Service Retail | |
| 3 | 529738 | The Glen | 5300 Woodhill Road, Minnetonka, MN 55345 | January 02, 2012 | | |
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