First Security Bank in Byron, Minnesota (MN)
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| First Security Bank | |
|---|---|
| General | FDIC Certificate #: 9728 Status: Active Federal Reserve ID: 109154 Bank Holding Company (Regulatory Top Holder): Olmsted Bancorporation, Inc. (RSSDID: 1129001, Location: Byron, MN) Date Established: December 27, 1904 WWW: http://www.fsbbyron.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 10950 FDIC's unique #: 6220 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: 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: 316 Byron Avenue, North, Byron, MN 55920 County: Olmsted 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): Rochester, MN (#6820) Core Based Statistical Area (CBSA): Rochester, MN (#40340) CBSA Metro Statistical Area: Rochester, MN (#40340) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $50.9 mil Equity capital: $4.3 mil Deposits held in domestic offices: $42.9 mil Return on assets (ROA): 0.44% ($0.2 mil) Quarterly return on assets: 0.69% ($0.4 mil) Return on Equity (ROE): 5.04% ($0.2 mil) Quarterly return on equity: 8.01% ($0.3 mil) Net income: $0.2 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.44% ($224.0 mil) Quarterly Pretax return on assets: 0.69% ($351.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 13 |
| Total assets | $50,903 |
| Cash and due from depository institutions | $5,114 |
| Interest-bearing balances | $3,033 |
| Securities | $8,355 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $34,153 |
| Loan loss allowance | $586 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,607 |
| Other real estate owned | $887 |
| Goodwill and other intangibles | $0 |
| All other assets | $787 |
| Life insurance assets | $50,903 |
| Total liabilities and capital | $46,595 |
| Total liabilities | $42,935 |
| Total deposits | $34,443 |
| Interest-bearing deposits | $42,935 |
| Deposits held in domestic offices | $98 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $3,500 |
| Other borrowed funds | $0 |
| Subordinated debt | $160 |
| All other liabilities | $4,308 |
| Total equity capital | $4,308 |
| Total bank equity capital | $4,308 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $3,800 |
| Undivided profits | $408 |
| 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 | $283 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $246 |
| Average Assets, year-to-date | $45,541 |
| Average Assets, quarterly | $11,262 |
| Volatile liabilities | $49,648 |
| Insider loans | $50,427 |
| FHLB advances | $37,546 |
| Loans and leases held for sale | $50,580 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $4,297 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $5,897 |
| Derivatives | $205 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,333 |
| Total interest expense | $474 |
| Net interest income | $1,859 |
| Provision for loan and lease losses | $205 |
| Total noninterest income | $98 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $94 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $4 |
| Total noninterest expense | $1,580 |
| Salaries and employee benefits | $665 |
| Premises and equipment expense | $247 |
| Additional noninterest expense | $668 |
| Pre-tax net operating income | $172 |
| Securities gains (losses) | $48 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $220 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $220 |
| Net charge-offs | $0 |
| Cash dividends | $220 |
| Sale, conversion, retirement of capital stock, net | $69 |
| Net operating income | $212 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.22% |
| Cost of funding earning assets | 1.06% |
| Net interest margin | 4.16% |
| Noninterest income to earning assets | 0.22% |
| Noninterest expense to earning assets | 3.54% |
| Net operating income to assets | 0.35% |
| Return on assets (ROA) | 0.44% |
| Pretax return on assets | 0.44% |
| Return on equity (ROE) | 5.04% |
| Retained earnings to average equity (YTD only) | 0.18% |
| Net charge-offs to loans | 0.20% |
| Credit loss provision to net charge-offs | 297.10% |
| Efficiency ratio | 5.46% |
| Assets per employee | $80,736 |
| Cash dividends to net income (YTD only) | 3.92% |
| Condition Ratios (%) | |
| Loss allowance to loans | 96.36% |
| Loss allowance to noncurrent loans | 1.69% |
| Noncurrent assets plus other real estate owned to assets | 207.07% |
| Noncurrent loans to loans | 2.30% |
| Net loans and leases to deposits | 0.81% |
| Net loans and leases to core deposits | 79.55% |
| Equity capital to assets | 83.45% |
| Core capital (leverage) ratio | 8.46% |
| Tier 1 risk-based capital ratio | 8.50% |
| Total risk-based capital ratio | 11.44% |
| Memoranda | |
| Average assets | $13 |
| Average earning assets | $49,648 |
| Average equity | $4,365 |
| Average loans | $44,663 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6220 | First Security Bank | 316 Byron Avenue, North, Byron, MN 55920 | December 27, 1904 | Full Service Brick and Mortar |  |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.