First National Bank in Chisholm, Minnesota (MN)



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First National Bank
GeneralFDIC Certificate #: 5113
Status: Active
Federal Reserve ID: 371755
Bank Holding Company (Regulatory Top Holder): M.I.f. Limited (RSSDID: 2695688, Location: Chisholm, MN)
Date Established: April 02, 1905
WWW: http://www.fnbchisholm.com
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: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 12604
FDIC's unique #: 3419
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
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: 101 West Lake Street, Chisholm, MN 55719
County: St. Louis
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): Duluth-Superior, MN-WI (#2240)
Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $82.4 mil
Equity capital: $8.1 mil
Deposits held in domestic offices: $64.2 mil
Return on assets (ROA): 0.81% ($0.7 mil)
Quarterly return on assets: 0.75% ($0.6 mil)
Return on Equity (ROE): 8.96% ($0.7 mil)
Quarterly return on equity: 7.57% ($0.6 mil)
Net income: $0.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.81% ($667.1 mil)
Quarterly Pretax return on assets: 0.75% ($617.7 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)18
Total assets$82,354
Cash and due from depository institutions$5,742
Interest-bearing balances$1,112
Securities$54,540
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$18,609
Loan loss allowance $328
Trading account assets$0
Bank premises and fixed assets$1,280
Other real estate owned$512
Goodwill and other intangibles$40
All other assets$1,631
Life insurance assets$82,354
Total liabilities and capital$74,286
Total liabilities$64,236
Total deposits$51,514
Interest-bearing deposits$64,236
Deposits held in domestic offices$89
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $50
All other liabilities $8,068
Total equity capital$8,068
Total bank equity capital$8,068
Perpetual preferred stock$0
Common stock$1,000
Surplus$2,385
Undivided profits $4,683
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 $699
Earning assets $0
Long-term assets (5+ years) $562
Average Assets, year-to-date $74,261
Average Assets, quarterly $41,354
Volatile liabilities $80,951
Insider loans $81,945
FHLB advances $36,218
Loans and leases held for sale $79,446
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $6,150
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $365
Derivatives$48
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,241
Total interest expense $822
Net interest income $2,419
Provision for loan and lease losses $65
Total noninterest income $177
Fiduciary activities $0
Service charges on deposit accounts $95
Trading account gains & fees $0
Additional noninterest income $82
Total noninterest expense $2,066
Salaries and employee benefits $935
Premises and equipment expense $458
Additional noninterest expense $673
Pre-tax net operating income $465
Securities gains (losses) $192
Applicable income taxes $1
Income before extraordinary items $656
Extraordinary gains - net $0
Net income attributable to bank $656
Net charge-offs $0
Cash dividends $656
Sale, conversion, retirement of capital stock, net $26
Net operating income $355
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.33%
Cost of funding earning assets 1.10%
Net interest margin 3.23%
Noninterest income to earning assets 0.24%
Noninterest expense to earning assets 2.76%
Net operating income to assets 0.57%
Return on assets (ROA) 0.81%
Pretax return on assets 0.81%
Return on equity (ROE) 8.96%
Retained earnings to average equity (YTD only) 4.11%
Net charge-offs to loans 0.13%
Credit loss provision to net charge-offs 250.00%
Efficiency ratio20.38%
Assets per employee$79,584
Cash dividends to net income (YTD only)4.58%
Condition Ratios (%)
Loss allowance to loans 54.12%
Loss allowance to noncurrent loans 1.73%
Noncurrent assets plus other real estate owned to assets 46.92%
Noncurrent loans to loans 1.47%
Net loans and leases to deposits3.69%
Net loans and leases to core deposits 28.97%
Equity capital to assets 28.97%
Core capital (leverage) ratio 9.80%
Tier 1 risk-based capital ratio 7.74%
Total risk-based capital ratio 16.98%
Memoranda
Average assets$18
Average earning assets$80,951
Average equity $7,319
Average loans $74,792
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03419First National Bank101 West Lake Street, Chisholm, MN 55719April 02, 1905Full Service Brick and Mortar
1207111Chisholm Branch301 1st Street Nw, Chisholm, MN 55719July 10, 1978Limited Service Facility
26523Cook Branch32 South River Street, Cook, MN 55723September 09, 1917Full Service Brick and Mortar
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