First National Bank of the North in Sandstone, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 28, 2011

  • First National Bank of the North in Sandstone, Minnesota (MN)
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First National Bank of the North - Overview

  • General
  • FDIC Certificate #: 17195
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Northview Bank (#10956)
    Federal Reserve ID: 362052
    Date Established: August 08, 1902
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 4 (Interstate: No)
    OTS Docket #: 14009
    FDIC's unique #: 11225
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: March 13, 1953
    Last Structure Change Effective Date: July 28, 2011
    Last Structure Change Process Date: August 15, 2011
    Last Data Update: August 15, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 510 Main Street, Sandstone, MN 55072
    County: Pine
    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
  • Financial Summary
  • Total assets: $69.8 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, 2010)

  • Dollar figures in thousands
  • 28Total employees (full-time equivalent)
  • $70,626Total assets
  • $1,630Cash and due from depository institutions
  • $31Interest-bearing balances
  • $17,349Securities
  • $825Federal funds sold & reverse repurchase agreements
  • $48,320Net loans & leases
  • $775Loan loss allowance
  • $0Trading account assets
  • $1,005Bank premises and fixed assets
  • $452Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,045All other assets
  • $70,626Total liabilities and capital
  • $64,669Total liabilities
  • $64,616Total deposits
  • $59,364Interest-bearing deposits
  • $64,616Deposits held in domestic offices
  • 80.72%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $53All other liabilities
  • $5,957Total equity capital
  • $5,957Total bank equity capital
  • $5,957Perpetual preferred stock
  • $0Common stock
  • $1,900Surplus
  • $1,900Undivided profits
  • Memoranda
  • $2,157Noncurrent loans and leases
  • $4,035Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,505Earning assets
  • $200Long-term assets (5+ years)
  • $277Average Assets, year-to-date
  • $66,525Average Assets, quarterly
  • $16,027Volatile liabilities
  • $67,418Insider loans
  • $70,102FHLB advances
  • $3,341Loans and leases held for sale
  • $142Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,035Total unused commitments
  • $0Restructured Loans and leases
  • $627Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $3,845Total interest income
  • $774Total interest expense
  • $3,071Net interest income
  • $743Provision for loan and lease losses
  • $214Total noninterest income
  • $0Fiduciary activities
  • $61Service charges on deposit accounts
  • $0Trading account gains & fees
  • $153Additional noninterest income
  • $2,215Total noninterest expense
  • $1,221Salaries and employee benefits
  • $173Premises and equipment expense
  • $821Additional noninterest expense
  • $327Pre-tax net operating income
  • $127Securities gains (losses)
  • $0Applicable income taxes
  • $454Income before extraordinary items
  • $0Extraordinary gains - net
  • $454Net income attributable to bank
  • $0Net charge-offs
  • $454Cash dividends
  • $451Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.07%Yield on earning assets
  • 1.22%Cost of funding earning assets
  • 4.85%Net interest margin
  • 0.34%Noninterest income to earning assets
  • 3.50%Noninterest expense to earning assets
  • 0.49%Net operating income to assets
  • 0.67%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 7.86%Return on equity (ROE)
  • 7.86%Retained earnings to average equity (YTD only)
  • 0.91%Net charge-offs to loans
  • 164.75%Credit loss provision to net charge-offs
  • 2.37%Efficiency ratio
  • 67,428Assets per employee
  • 2.52%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 51.50%Noncurrent assets plus other real estate owned to assets
  • 2.77%Noncurrent loans to loans
  • 3.07%Net loans and leases to deposits
  • 74.78%Net loans and leases to core deposits
  • 78.86%Equity capital to assets
  • 8.43%Core capital (leverage) ratio
  • 8.70%Tier 1 risk-based capital ratio
  • 11.81%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $67,418Average earning assets
  • $5,773Average equity
  • $63,295Average loans

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