First PREMIER Bank in Sioux Falls, South Dakota (SD)
Overview, Financial Summary, Detailed Financial Reports, Branches

First PREMIER Bank - Overview

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 280Total employees (full-time equivalent)
  • $1,119,448Total assets
  • $89,258Cash and due from depository institutions
  • $53,761Interest-bearing balances
  • $301,929Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $619,873Net loans & leases
  • $9,447Loan loss allowance
  • $0Trading account assets
  • $6,484Bank premises and fixed assets
  • $203Other real estate owned
  • $0Goodwill and other intangibles
  • $1,119,448Life insurance assets
  • $101,701All other assets
  • $944,631Total liabilities and capital
  • $885,170Total liabilities
  • $613,605Total deposits
  • $885,170Interest-bearing deposits
  • $69Deposits held in domestic offices
  • 8.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $50,000Trading liabilities
  • $0Other borrowed funds
  • $9,453Subordinated debt
  • $174,817All other liabilities
  • $174,817Total equity capital
  • $174,817Total bank equity capital
  • $0Perpetual preferred stock
  • $4,160Common stock
  • $58,552Surplus
  • $112,105Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $4,243Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,826Income earned, not collected on loans
  • $0Earning assets
  • $5,817Long-term assets (5+ years)
  • $975,563Average Assets, year-to-date
  • $266,537Average Assets, quarterly
  • $1,162,268Volatile liabilities
  • $1,115,269Insider loans
  • $796,474FHLB advances
  • $1,144,192Loans and leases held for sale
  • $1,420Unused loan commitments
  • $1,420Tier 1 (core) risk-based capital
  • $166,696Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $84,844Restructured Loans and leases
  • $4,443Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $49,830Total interest income
  • $15,806Total interest expense
  • $34,024Net interest income
  • $5,040Provision for loan and lease losses
  • $21,788Total noninterest income
  • $3,975Fiduciary activities
  • $2,872Service charges on deposit accounts
  • $0Trading account gains & fees
  • $14,941Additional noninterest income
  • $34,348Total noninterest expense
  • $21,069Salaries and employee benefits
  • $4,230Premises and equipment expense
  • $9,049Additional noninterest expense
  • $16,424Pre-tax net operating income
  • $114Securities gains (losses)
  • $696Applicable income taxes
  • $15,842Income before extraordinary items
  • $0Extraordinary gains - net
  • $15,842Net income attributable to bank
  • $0Net charge-offs
  • $15,842Cash dividends
  • $4,609Sale, conversion, retirement of capital stock, net
  • $12,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.83%Yield on earning assets
  • 1.53%Cost of funding earning assets
  • 3.30%Net interest margin
  • 2.11%Noninterest income to earning assets
  • 3.33%Noninterest expense to earning assets
  • 1.35%Net operating income to assets
  • 1.36%Return on assets (ROA)
  • 1.42%Pretax return on assets
  • 9.32%Return on equity (ROE)
  • 2.26%Retained earnings to average equity (YTD only)
  • 0.75%Net charge-offs to loans
  • 109.35%Credit loss provision to net charge-offs
  • 4.66%Efficiency ratio
  • 61,542Assets per employee
  • 4.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 75.75%Loss allowance to loans
  • 1.50%Loss allowance to noncurrent loans
  • 107.04%Noncurrent assets plus other real estate owned to assets
  • 0.81%Noncurrent loans to loans
  • 1.40%Net loans and leases to deposits
  • 70.03%Net loans and leases to core deposits
  • 80.78%Equity capital to assets
  • 15.62%Core capital (leverage) ratio
  • 14.57%Tier 1 risk-based capital ratio
  • 20.93%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $1,162,268Average earning assets
  • $170,059Average equity
  • $1,031,859Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1,858,957Managed Assets
  • 1Number of Accounts
  • $962,464Personal trust and agency accounts
  • $224,121Employee benefit-defined contribution accounts
  • $20,288Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $48,499Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $419,942Other fiduciary accounts
  • $249,614Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1096Number of Accounts
  • $0Personal trust and agency accounts
  • $47,870Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $896,493Other retirement accounts
  • $358,494Corporate trust and agency accounts
  • $90,208Other fiduciary accounts
  • $46,481Fiduciary accounts held in foreign offices

List of branches

  • 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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