First Southeast Bank in Harmony, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Southeast Bank - Overview

  • General
  • FDIC Certificate #: 10576
    Status: Active
    Federal Reserve ID: 22552
    Bank Holding Company (Regulatory Top Holder): First Southeastern Banc Group, Inc. (RSSDID: 1137510, Location: Harmony, MN)
    Date Established: March 15, 1893
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 12917
    FDIC's unique #: 6777
    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: August 27, 2011
    Last Structure Change Process Date: September 19, 2011
    Last Data Update: September 19, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 3 Main Ave N, Harmony, MN 55939
    County: Fillmore
    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
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $85.7 mil
    Equity capital: $7.9 mil
    Deposits held in domestic offices: $77.4 mil
    Return on assets (ROA): 1.58% ($1.4 mil)
    Quarterly return on assets: 1.62% ($1.4 mil)
    Return on Equity (ROE): 17.63% ($1.4 mil)
    Quarterly return on equity: 17.33% ($1.4 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.58% ($1,354.7 mil)
    Quarterly Pretax return on assets: 1.62% ($1,389.0 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
  • 20Total employees (full-time equivalent)
  • $85,738Total assets
  • $2,366Cash and due from depository institutions
  • $240Interest-bearing balances
  • $9,090Securities
  • $6,760Federal funds sold & reverse repurchase agreements
  • $65,464Net loans & leases
  • $979Loan loss allowance
  • $0Trading account assets
  • $343Bank premises and fixed assets
  • $183Other real estate owned
  • $0Goodwill and other intangibles
  • $85,738Life insurance assets
  • $1,532All other assets
  • $77,884Total liabilities and capital
  • $77,388Total liabilities
  • $65,806Total deposits
  • $77,388Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $100Trading liabilities
  • $0Other borrowed funds
  • $396Subordinated debt
  • $7,854All other liabilities
  • $7,854Total equity capital
  • $7,854Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $4,900Surplus
  • $2,854Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $257Income earned, not collected on loans
  • $25Earning assets
  • $950Long-term assets (5+ years)
  • $81,554Average Assets, year-to-date
  • $18,836Average Assets, quarterly
  • $82,879Volatile liabilities
  • $82,621Insider loans
  • $64,711FHLB advances
  • $81,810Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,671Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,439Restructured Loans and leases
  • $529Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,410Total interest income
  • $843Total interest expense
  • $3,567Net interest income
  • $60Provision for loan and lease losses
  • $401Total noninterest income
  • $0Fiduciary activities
  • $232Service charges on deposit accounts
  • $0Trading account gains & fees
  • $169Additional noninterest income
  • $2,599Total noninterest expense
  • $1,438Salaries and employee benefits
  • $231Premises and equipment expense
  • $930Additional noninterest expense
  • $1,309Pre-tax net operating income
  • $0Securities gains (losses)
  • $1Applicable income taxes
  • $1,308Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,308Net income attributable to bank
  • $0Net charge-offs
  • $1,308Cash dividends
  • -$1Sale, conversion, retirement of capital stock, net
  • $716Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.61%Yield on earning assets
  • 1.07%Cost of funding earning assets
  • 4.53%Net interest margin
  • 0.51%Noninterest income to earning assets
  • 3.30%Noninterest expense to earning assets
  • 1.58%Net operating income to assets
  • 1.58%Return on assets (ROA)
  • 1.58%Pretax return on assets
  • 17.63%Return on equity (ROE)
  • 7.98%Retained earnings to average equity (YTD only)
  • -0.00%Net charge-offs to loans
  • -6000.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 65,499Assets per employee
  • 4.29%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.74%Loss allowance to loans
  • 1.47%Loss allowance to noncurrent loans
  • 380.93%Noncurrent assets plus other real estate owned to assets
  • 0.51%Noncurrent loans to loans
  • 0.39%Net loans and leases to deposits
  • 84.59%Net loans and leases to core deposits
  • 92.78%Equity capital to assets
  • 9.16%Core capital (leverage) ratio
  • 9.38%Tier 1 risk-based capital ratio
  • 11.85%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $82,879Average earning assets
  • $7,418Average equity
  • $78,665Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06777First Southeast Bank3 Main Ave N, Harmony, MN 55939March 15, 1893Full Service Brick and Mortar
    15625Granger Branch50 Main Street, Granger, MN 55939December 22, 1917Limited Service Facility
    210474Canton Branch111 N Main St, Canton, MN 55922June 28, 1945Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with First Southeast Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents