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
    WWW: http://www.firstsoutheastbank.com
    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

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