First State Bank in Webster City, Iowa (IA)

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First State Bank
GeneralFDIC Certificate #: 15321
Status: Active
Federal Reserve ID: 561145
Bank Holding Company (Regulatory Top Holder): Van Diest Investment Company (RSSDID: 1205026, Location: Ankeny, IA)
Date Established: October 15, 1935
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 4, Interstate: No)
OTS Docket #: 13381
FDIC's unique #: 9657
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: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: December 16, 1935
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
LocationAddress: 505 - 2nd Street, Webster City, IA 50595
County: Hamilton
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $283.6 mil
Equity capital: $31.4 mil
Deposits held in domestic offices: $217.7 mil
Return on assets (ROA): 1.41% ($4.0 mil)
Quarterly return on assets: 1.58% ($4.5 mil)
Return on Equity (ROE): 12.39% ($3.8 mil)
Quarterly return on equity: 13.95% ($4.3 mil)
Net income: $3.8 mil
Quarterly Net income: $1.1 mil
Pretax return on assets: 2.09% ($5,928.2 mil)
Quarterly Pretax return on assets: 2.38% ($6,750.8 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)
Total employees (full-time equivalent)89
Total assets$283,646
Cash and due from depository institutions$9,053
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$207,187
Loan loss allowance $2,049
Trading account assets$0
Bank premises and fixed assets$8,890
Other real estate owned$215
Goodwill and other intangibles$3,679
All other assets$7,345
Life insurance assets$283,646
Total liabilities and capital$252,230
Total liabilities$217,675
Total deposits$189,936
Interest-bearing deposits$217,675
Deposits held in domestic offices$89
% insured (estimated)14920.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$18,231
Other borrowed funds $0
Subordinated debt $1,404
All other liabilities $31,416
Total equity capital$31,416
Total bank equity capital$31,416
Perpetual preferred stock$0
Common stock$759
Undivided profits $27,167
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 $412
Earning assets $0
Long-term assets (5+ years) $2,942
Average Assets, year-to-date $254,464
Average Assets, quarterly $84,002
Volatile liabilities $265,424
Insider loans $279,074
FHLB advances $256,119
Loans and leases held for sale $275,088
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $26,524
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $43,736
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $11,652
Total interest expense $2,720
Net interest income $8,932
Provision for loan and lease losses $350
Total noninterest income $5,521
Fiduciary activities $13
Service charges on deposit accounts $477
Trading account gains & fees $0
Additional noninterest income $5,031
Total noninterest expense $8,551
Salaries and employee benefits $5,367
Premises and equipment expense $952
Additional noninterest expense $2,232
Pre-tax net operating income $5,552
Securities gains (losses) $0
Applicable income taxes $1,797
Income before extraordinary items $3,755
Extraordinary gains - net $0
Net income attributable to bank $3,755
Net charge-offs $0
Cash dividends $3,755
Sale, conversion, retirement of capital stock, net $66
Net operating income $1,500
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.85%
Cost of funding earning assets 1.13%
Net interest margin 3.72%
Noninterest income to earning assets 2.30%
Noninterest expense to earning assets 3.56%
Net operating income to assets 1.41%
Return on assets (ROA) 1.41%
Pretax return on assets 2.09%
Return on equity (ROE) 12.39%
Retained earnings to average equity (YTD only) 7.44%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs 530.30%
Efficiency ratio89.42%
Assets per employee$56,431
Cash dividends to net income (YTD only)3.19%
Condition Ratios (%)
Loss allowance to loans 39.95%
Loss allowance to noncurrent loans 0.98%
Noncurrent assets plus other real estate owned to assets 497.33%
Noncurrent loans to loans 0.22%
Net loans and leases to deposits0.20%
Net loans and leases to core deposits 95.18%
Equity capital to assets 99.89%
Core capital (leverage) ratio 11.08%
Tier 1 risk-based capital ratio 9.64%
Total risk-based capital ratio 10.36%
Average assets$11
Average earning assets$265,424
Average equity $30,309
Average loans $240,129
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$6,251
Number of Accounts1
Personal trust and agency accounts$2,282
Employee benefit-defined contribution accounts$1,752
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$530
Non-managed Assets$0
Number of Accounts35
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$3,969
Corporate trust and agency accounts$94
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$3,875
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5 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09657First State Bank505 - 2nd Street, Webster City, IA 50595October 15, 1935Full Service Brick and Mortar
29386Stanhope BranchPark And Parker Streets, Stanhope, IA 50246January 01, 1931Full Service Brick and Mortar
6364059Eagle Grove Branch323 South Commercial Avenue, Eagle Grove, IA 50533October 01, 2001Full Service Brick and Mortar
7462756First State Bank3031 5th Avenue South, Fort Dodge, IA 50501April 26, 2007Full Service Brick and Mortar
8529733First State Bank714 Central Avenue E, Clarion, IA 50525March 12, 2012Full Service Brick and Mortar
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