First Resource Bank in Savage, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Resource Bank in Savage, Minnesota (MN)
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First Resource Bank - Overview

  • General
  • FDIC Certificate #: 58039
    Status: Active
    Federal Reserve ID: 3314043
    Date Established: June 27, 2005
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 1, Interstate: No)
    FDIC's unique #: 436973
    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: Commercial Lending Specialization
    Date of Deposit Insurance: June 27, 2005
    Last Structure Change Effective Date: March 08, 2012
    Last Structure Change Process Date: March 08, 2012
    Last Data Update: March 08, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 4022 County Road 42 West, Savage, MN 55378
    County: Scott
    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)
  • Financial Summary
  • Total assets: $14.2 mil
    Equity capital: $9.6 mil
    Deposits held in domestic offices: $4.6 mil
    Return on assets (ROA): -3.19% (-$0.4 mil)
    Quarterly return on assets: -6.84% (-$1.0 mil)
    Return on Equity (ROE): -5.86% (-$0.6 mil)
    Quarterly return on equity: -10.21% (-$1.0 mil)
    Net income: -$0.6 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: -3.19% (-$454.2 mil)
    Quarterly Pretax return on assets: -6.84% (-$973.8 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
  • 7Total employees (full-time equivalent)
  • $14,237Total assets
  • $5,621Cash and due from depository institutions
  • $4,778Interest-bearing balances
  • $0Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $7,045Net loans & leases
  • $122Loan loss allowance
  • $0Trading account assets
  • $171Bank premises and fixed assets
  • $797Other real estate owned
  • $362Goodwill and other intangibles
  • $14,237Life insurance assets
  • $241All other assets
  • $4,607Total liabilities and capital
  • $4,577Total liabilities
  • $4,093Total deposits
  • $4,577Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $30Subordinated debt
  • $9,630All other liabilities
  • $9,630Total equity capital
  • $9,630Total bank equity capital
  • $0Perpetual preferred stock
  • $10Common stock
  • $10,435Surplus
  • $-815Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $381Income earned, not collected on loans
  • $0Earning assets
  • $30Long-term assets (5+ years)
  • $11,823Average Assets, year-to-date
  • $925Average Assets, quarterly
  • $18,289Volatile liabilities
  • $14,566Insider loans
  • $9,246FHLB advances
  • $14,240Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $9,268Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $686Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $705Total interest income
  • $99Total interest expense
  • $606Net interest income
  • $0Provision for loan and lease losses
  • $44Total noninterest income
  • $0Fiduciary activities
  • $12Service charges on deposit accounts
  • $0Trading account gains & fees
  • $32Additional noninterest income
  • $1,230Total noninterest expense
  • $518Salaries and employee benefits
  • $178Premises and equipment expense
  • $534Additional noninterest expense
  • -$580Pre-tax net operating income
  • -$4Securities gains (losses)
  • $0Applicable income taxes
  • -$584Income before extraordinary items
  • $0Extraordinary gains - net
  • -$584Net income attributable to bank
  • $0Net charge-offs
  • -$584Cash dividends
  • $8Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.52%Yield on earning assets
  • 0.63%Cost of funding earning assets
  • 3.88%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 7.88%Noninterest expense to earning assets
  • -3.17%Net operating income to assets
  • -3.19%Return on assets (ROA)
  • -3.19%Pretax return on assets
  • -5.86%Return on equity (ROE)
  • -5.86%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • -72.50%Efficiency ratio
  • 189,231Assets per employee
  • 2.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.70%Loss allowance to noncurrent loans
  • 32.02%Noncurrent assets plus other real estate owned to assets
  • 8.27%Noncurrent loans to loans
  • 5.32%Net loans and leases to deposits
  • 153.92%Net loans and leases to core deposits
  • 153.92%Equity capital to assets
  • 67.64%Core capital (leverage) ratio
  • 65.08%Tier 1 risk-based capital ratio
  • 100.24%Total risk-based capital ratio
  • Memoranda
  • $102Average assets
  • $18,289Average earning assets
  • $9,961Average equity
  • $15,614Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0436973First Resource Bank4022 County Road 42 West, Savage, MN 55378June 27, 2005Full Service Brick and Mortar
    161735Patriot Bank Minnesota Branch19810 Headwaters Boulevard, Forest Lake, MN 55025July 20, 1998Full Service Brick and Mortar
    2359479Lino Lakes Branch2290 70th Street East, Lino Lakes, MN 55038January 08, 2001Full Service Brick and Mortar
    3445627Lino Lakes Branch7449 Village Drive, Lino Lakes, MN 55014November 14, 2005Full Service Brick and Mortar

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