First Security Bank - Sleepy Eye in Sleepy Eye, Minnesota (MN)
| First Security Bank - Sleepy Eye | |
|---|---|
| General | FDIC Certificate #: 5252 Status: Active Federal Reserve ID: 861658 Bank Holding Company (Regulatory Top Holder): First Sleepy Eye Bancorporation, Inc. (RSSDID: 1123401, Location: Sioux Falls, SD) Date Established: January 01, 1882 WWW: http://www.firstsecuritybanks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 7 (Domestic: 7, Interstate: No) OTS Docket #: 10144 FDIC's unique #: 3529 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: Febuary 14, 2011 Last Structure Change Process Date: March 15, 2011 Last Data Update: March 15, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 101 East Main Street, Sleepy Eye, MN 56085 County: Brown Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): New Ulm, MN (#35580) CBSA Micro Statistical Area: Yes |
| History of Changes | Participated in Absorption/Consolidation/Merger |
| Financial Summary | Total assets: $184.1 mil Equity capital: $24.8 mil Deposits held in domestic offices: $157.6 mil Return on assets (ROA): 1.88% ($3.5 mil) Quarterly return on assets: 1.72% ($3.2 mil) Return on Equity (ROE): 13.79% ($3.4 mil) Quarterly return on equity: 12.43% ($3.1 mil) Net income: $3.4 mil Quarterly Net income: $0.8 mil Pretax return on assets: 1.89% ($3,479.4 mil) Quarterly Pretax return on assets: 1.72% ($3,166.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 50 |
| Total assets | $184,095 |
| Cash and due from depository institutions | $19,714 |
| Interest-bearing balances | $5,385 |
| Securities | $43,095 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $109,394 |
| Loan loss allowance | $2,275 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,746 |
| Other real estate owned | $1,350 |
| Goodwill and other intangibles | $2,241 |
| All other assets | $5,555 |
| Life insurance assets | $184,095 |
| Total liabilities and capital | $159,273 |
| Total liabilities | $157,621 |
| Total deposits | $112,977 |
| Interest-bearing deposits | $157,621 |
| Deposits held in domestic offices | $92 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $652 |
| All other liabilities | $24,822 |
| Total equity capital | $24,822 |
| Total bank equity capital | $24,822 |
| Perpetual preferred stock | $0 |
| Common stock | $300 |
| Surplus | $13,741 |
| Undivided profits | $10,781 |
| 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 | $705 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,647 |
| Average Assets, year-to-date | $157,874 |
| Average Assets, quarterly | $41,255 |
| Volatile liabilities | $180,204 |
| Insider loans | $183,433 |
| FHLB advances | $145,496 |
| Loans and leases held for sale | $180,225 |
| Unused loan commitments | $2,432 |
| Tier 1 (core) risk-based capital | $1,003 |
| Tier 2 risk-based capital | $20,300 |
| Total risk weighted assets | $629 |
| Total unused commitments | $800 |
| Restructured Loans and leases | $20,669 |
| Derivatives | $2 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $9,155 |
| Total interest expense | $942 |
| Net interest income | $8,213 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $1,073 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $475 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $598 |
| Total noninterest expense | $5,494 |
| Salaries and employee benefits | $2,522 |
| Premises and equipment expense | $594 |
| Additional noninterest expense | $2,378 |
| Pre-tax net operating income | $3,792 |
| Securities gains (losses) | -$394 |
| Applicable income taxes | $5 |
| Income before extraordinary items | $3,393 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $3,393 |
| Net charge-offs | $0 |
| Cash dividends | $3,393 |
| Sale, conversion, retirement of capital stock, net | $82 |
| Net operating income | $2,700 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.67% |
| Cost of funding earning assets | 0.58% |
| Net interest margin | 5.09% |
| Noninterest income to earning assets | 0.66% |
| Noninterest expense to earning assets | 3.40% |
| Net operating income to assets | 2.10% |
| Return on assets (ROA) | 1.88% |
| Pretax return on assets | 1.89% |
| Return on equity (ROE) | 13.79% |
| Retained earnings to average equity (YTD only) | 2.82% |
| Net charge-offs to loans | 0.07% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 46.24% |
| Assets per employee | $59,164 |
| Cash dividends to net income (YTD only) | 3.68% |
| Condition Ratios (%) | |
| Loss allowance to loans | 79.58% |
| Loss allowance to noncurrent loans | 2.04% |
| Noncurrent assets plus other real estate owned to assets | 322.70% |
| Noncurrent loans to loans | 1.12% |
| Net loans and leases to deposits | 0.63% |
| Net loans and leases to core deposits | 69.40% |
| Equity capital to assets | 70.23% |
| Core capital (leverage) ratio | 13.48% |
| Tier 1 risk-based capital ratio | 11.26% |
| Total risk-based capital ratio | 13.95% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $180,204 |
| Average equity | $24,601 |
| Average loans | $161,513 |
| 7 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 3529 | First Security Bank - Sleepy Eye | 101 East Main Street, Sleepy Eye, MN 56085 | January 01, 1882 | Full Service Brick and Mortar |  |
| 1 | 1046 | Benson Branch | 215 13th Street, South, Benson, MN 56215 | January 01, 1876 | Full Service Brick and Mortar |  |
| 2 | 46123 | Detroit Lakes Branch | 611 Summitt Avenue, Detroit Lakes, MN 56501 | March 16, 1990 | Full Service Brick and Mortar | |
| 4 | 7017 | First Security Bank - Renville Branc | 106 - 5th Street Se, Renville, MN 56284 | January 08, 1904 | Full Service Brick and Mortar | |
| 5 | 16582 | Storden Branch | 321 America Street, Storden, MN 56174 | March 02, 1982 | Full Service Brick and Mortar | |
| 6 | 223521 | Lamberton Branch | 110 South Main Street, Lamberton, MN 56152 | November 20, 1995 | Full Service Brick and Mortar | |
| 8 | 5212 | First Security Bank - Evansville Bra | 303 Kron Street, Evansville, MN 56326 | January 01, 1882 | Full Service Brick and Mortar | |
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