First PREMIER Bank in Sioux Falls, South Dakota (SD)



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First PREMIER Bank
GeneralFDIC Certificate #: 6085
Status: Active
Federal Reserve ID: 374653
Bank Holding Company (Regulatory Top Holder): United National Corporation (RSSDID: 1842421, Location: Sioux Falls, SD)
Date Established: January 01, 1914
WWW: http://www.firstpremier.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 17 (Domestic: 17, Interstate: No)
OTS Docket #: 8938
FDIC's unique #: 4109
Numeric code: 13
Regulator: FED
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: 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: 601 South Minnesota Avenue, Sioux Falls, SD 57104
County: Minnehaha
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: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Sioux Falls, SD (#7760)
Core Based Statistical Area (CBSA): Sioux Falls, SD (#43620)
CBSA Metro Statistical Area: Sioux Falls, SD (#43620)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $1,119.4 mil
Equity capital: $174.8 mil
Deposits held in domestic offices: $885.2 mil
Return on assets (ROA): 1.36% ($15.2 mil)
Quarterly return on assets: 1.14% ($12.8 mil)
Return on Equity (ROE): 9.32% ($16.3 mil)
Quarterly return on equity: 7.35% ($12.9 mil)
Net income: $15.8 mil
Quarterly Net income: $3.2 mil
Pretax return on assets: 1.42% ($15,896.2 mil)
Quarterly Pretax return on assets: 1.20% ($13,433.4 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)280
Total assets$1,119,448
Cash and due from depository institutions$89,258
Interest-bearing balances$53,761
Securities$301,929
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$619,873
Loan loss allowance $9,447
Trading account assets$0
Bank premises and fixed assets$6,484
Other real estate owned$203
Goodwill and other intangibles$0
All other assets$101,701
Life insurance assets$1,119,448
Total liabilities and capital$944,631
Total liabilities$885,170
Total deposits$613,605
Interest-bearing deposits$885,170
Deposits held in domestic offices$69
% insured (estimated)8.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$50,000
Other borrowed funds $0
Subordinated debt $9,453
All other liabilities $174,817
Total equity capital$174,817
Total bank equity capital$174,817
Perpetual preferred stock$0
Common stock$4,160
Surplus$58,552
Undivided profits $112,105
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $4,243
Income earned, not collected on loans $8,826
Earning assets $0
Long-term assets (5+ years) $5,817
Average Assets, year-to-date $975,563
Average Assets, quarterly $266,537
Volatile liabilities $1,162,268
Insider loans $1,115,269
FHLB advances $796,474
Loans and leases held for sale $1,144,192
Unused loan commitments $1,420
Tier 1 (core) risk-based capital $1,420
Tier 2 risk-based capital $166,696
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $84,844
Derivatives$4,443
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $49,830
Total interest expense $15,806
Net interest income $34,024
Provision for loan and lease losses $5,040
Total noninterest income $21,788
Fiduciary activities $3,975
Service charges on deposit accounts $2,872
Trading account gains & fees $0
Additional noninterest income $14,941
Total noninterest expense $34,348
Salaries and employee benefits $21,069
Premises and equipment expense $4,230
Additional noninterest expense $9,049
Pre-tax net operating income $16,424
Securities gains (losses) $114
Applicable income taxes $696
Income before extraordinary items $15,842
Extraordinary gains - net $0
Net income attributable to bank $15,842
Net charge-offs $0
Cash dividends $15,842
Sale, conversion, retirement of capital stock, net $4,609
Net operating income $12,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.83%
Cost of funding earning assets 1.53%
Net interest margin 3.30%
Noninterest income to earning assets 2.11%
Noninterest expense to earning assets 3.33%
Net operating income to assets 1.35%
Return on assets (ROA) 1.36%
Pretax return on assets 1.42%
Return on equity (ROE) 9.32%
Retained earnings to average equity (YTD only) 2.26%
Net charge-offs to loans 0.75%
Credit loss provision to net charge-offs 109.35%
Efficiency ratio4.66%
Assets per employee$61,542
Cash dividends to net income (YTD only)4.00%
Condition Ratios (%)
Loss allowance to loans 75.75%
Loss allowance to noncurrent loans 1.50%
Noncurrent assets plus other real estate owned to assets 107.04%
Noncurrent loans to loans 0.81%
Net loans and leases to deposits1.40%
Net loans and leases to core deposits 70.03%
Equity capital to assets 80.78%
Core capital (leverage) ratio 15.62%
Tier 1 risk-based capital ratio 14.57%
Total risk-based capital ratio 20.93%
Memoranda
Average assets$22
Average earning assets$1,162,268
Average equity $170,059
Average loans $1,031,859
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$1,858,957
Number of Accounts1
Personal trust and agency accounts$962,464
Employee benefit-defined contribution accounts$224,121
Employee benefit-defined benefit accounts$20,288
Other retirement accounts$0
Corporate trust and agency accounts$48,499
Investment management agency accounts$0
Other fiduciary accounts$419,942
Fiduciary accounts held in foreign offices$249,614
Non-managed Assets$0
Number of Accounts1096
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$47,870
Employee benefit-defined benefit accounts$0
Other retirement accounts$896,493
Corporate trust and agency accounts$358,494
Other fiduciary accounts$90,208
Fiduciary accounts held in foreign offices$46,481
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17 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
04109First Premier Bank601 South Minnesota Avenue, Sioux Falls, SD 57104January 01, 1914Full Service Brick and Mortar
4208684Wakonda Branch115 Ohio Street, Wakonda, SD 57073July 01, 1965Full Service Brick and Mortar
18208667South Kiwanis Branch3401 South Kiwanis Avenue, Sioux Falls, SD 57105July 02, 1973Full Service Brick and Mortar
235748Watertown Branch1 East Kemp, Watertown, SD 57201January 27, 1902Full Service Brick and Mortar
242592Lake Norden Branch503 Main Avenue, Lake Norden, SD 57248January 01, 1928Full Service Brick and Mortar
25219294Castlewood BranchSecond And Main, Castlewood, SD 57223Febuary 08, 1979Full Service Brick and Mortar
268028Kranzburg Branch102 Dakota Ave, Kranzburg, SD 57245August 21, 1912Full Service Brick and Mortar
27208697Watertown 212 Branch1414 9th Avenue Se, Watertown, SD 57201July 18, 1988Full Service Brick and Mortar
29208699Southeastern Dr Branch4000 S Southeastern Drive, Sioux Falls, SD 57103July 08, 1992Full Service Brick and Mortar
30340774Sioux Falls - Benson Road Office Bra3700 Potsdam Avenue North, Sioux Falls, SD 57104April 03, 2000Full Service Brick and Mortar
3135751626th & Cliff Branch1808 South Cliff Avenue, Sioux Falls, SD 57105June 01, 2000Full Service Brick and Mortar
32360101Watertown I29 Branch824 34th Street, Watertown, SD 57201March 08, 2001Full Service Brick and Mortar
33430770Sioux Falls - Sertoma Branch6701 W 41st St, Sioux Falls, SD 57106January 01, 2004Full Service Brick and Mortar
3445311469th & Minnesota Branch6010 S Minnesota Ave, Sioux Falls, SD 57108May 25, 2006Full Service Brick and Mortar
35453115Sycamore Branch536 N Sycamore Ave, Sioux Falls, SD 57110October 03, 2005Full Service Brick and Mortar
36493104West Benson Branch4001 W. Benson, Sioux Falls, SD 57107October 01, 2008Full Service Brick and Mortar
37499294Sanford Office1305 West 18th Street, Sioux Falls, SD 57105November 16, 2009Full Service Brick and Mortar
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