First Security Bank, Underwood in Underwood, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 01, 2006

  • First Security Bank, Underwood in Underwood, North Dakota (ND)
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First Security Bank, Underwood - Overview

  • General
  • FDIC Certificate #: 12751
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: North Country Bank, National Association (#3947)
    Federal Reserve ID: 894058
    Date Established: January 01, 1903
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 8079
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: December 01, 2006
    Last Structure Change Process Date: December 15, 2006
    Last Data Update: December 15, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 308 Lincoln Avenue, Underwood, ND 58576
    County: Mclean
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • Financial Summary
  • Total assets: $23.4 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, 2005)

  • Dollar figures in thousands
  • 8Total employees (full-time equivalent)
  • $22,591Total assets
  • $1,204Cash and due from depository institutions
  • $792Interest-bearing balances
  • $9,577Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $11,215Net loans & leases
  • $140Loan loss allowance
  • $0Trading account assets
  • $182Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $413All other assets
  • $22,591Total liabilities and capital
  • $20,388Total liabilities
  • $20,314Total deposits
  • $15,263Interest-bearing deposits
  • $20,314Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $74All other liabilities
  • $2,203Total equity capital
  • $2,203Total bank equity capital
  • $2,203Perpetual preferred stock
  • $0Common stock
  • $300Surplus
  • $700Undivided profits
  • Memoranda
  • $1,203Noncurrent loans and leases
  • $834Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $15Earning assets
  • $0Long-term assets (5+ years)
  • $370Average Assets, year-to-date
  • $21,584Average Assets, quarterly
  • $2,651Volatile liabilities
  • $24,071Insider loans
  • $23,541FHLB advances
  • $3,644Loans and leases held for sale
  • $109Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $834Total unused commitments
  • $0Restructured Loans and leases
  • $140Derivatives

Income and Expense (December 31, 2005)

  • Dollar figures in thousands
  • $1,239Total interest income
  • $290Total interest expense
  • $949Net interest income
  • $30Provision for loan and lease losses
  • $90Total noninterest income
  • $0Fiduciary activities
  • $72Service charges on deposit accounts
  • $0Trading account gains & fees
  • $18Additional noninterest income
  • $801Total noninterest expense
  • $465Salaries and employee benefits
  • $113Premises and equipment expense
  • $223Additional noninterest expense
  • $208Pre-tax net operating income
  • $0Securities gains (losses)
  • $13Applicable income taxes
  • $195Income before extraordinary items
  • $0Extraordinary gains - net
  • $195Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $30Sale, conversion, retirement of capital stock, net
  • $4Net operating income

Performance and Condition Ratios (December 31, 2005)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.47%Yield on earning assets
  • 1.28%Cost of funding earning assets
  • 4.19%Net interest margin
  • 0.40%Noninterest income to earning assets
  • 3.54%Noninterest expense to earning assets
  • 0.81%Net operating income to assets
  • 0.81%Return on assets (ROA)
  • 0.86%Pretax return on assets
  • 8.89%Return on equity (ROE)
  • 8.70%Retained earnings to average equity (YTD only)
  • 0.28%Net charge-offs to loans
  • 100.00%Credit loss provision to net charge-offs
  • 7.93%Efficiency ratio
  • 77,093Assets per employee
  • 2.82%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 2.05%Loss allowance to loans
  • 1.23%Loss allowance to noncurrent loans
  • 933.33%Noncurrent assets plus other real estate owned to assets
  • 0.07%Noncurrent loans to loans
  • 0.13%Net loans and leases to deposits
  • 55.21%Net loans and leases to core deposits
  • 67.28%Equity capital to assets
  • 9.75%Core capital (leverage) ratio
  • 9.32%Tier 1 risk-based capital ratio
  • 19.77%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $24,071Average earning assets
  • $2,194Average equity
  • $22,643Average loans

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