First State Bank in Buxton, North Dakota (ND)



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First State Bank
GeneralFDIC Certificate #: 15539
Status: Active
Federal Reserve ID: 917050
Bank Holding Company (Regulatory Top Holder): Full Service Insurance Agency, Inc. (RSSDID: 1123858, Location: Buxton, ND)
Date Established: January 01, 1885
WWW: http://www.firststatebanks.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)
FDIC's unique #: 9834
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: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 425 Broadway, Buxton, ND 58218
County: Traill
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
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $145.5 mil
Equity capital: $14.7 mil
Deposits held in domestic offices: $110.6 mil
Return on assets (ROA): 1.19% ($1.7 mil)
Quarterly return on assets: 0.51% ($0.7 mil)
Return on Equity (ROE): 11.81% ($1.8 mil)
Quarterly return on equity: 4.99% ($0.7 mil)
Net income: $1.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.27% ($1,847.7 mil)
Quarterly Pretax return on assets: 0.63% ($916.6 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)29
Total assets$145,486
Cash and due from depository institutions$4,539
Interest-bearing balances$137
Securities$7,472
Federal funds sold & reverse repurchase agreements$900
Net loans & leases$127,106
Loan loss allowance $1,622
Trading account assets$0
Bank premises and fixed assets$1,672
Other real estate owned$331
Goodwill and other intangibles$0
All other assets$3,466
Life insurance assets$145,486
Total liabilities and capital$130,835
Total liabilities$110,612
Total deposits$90,229
Interest-bearing deposits$110,612
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$19,391
Other borrowed funds $0
Subordinated debt $832
All other liabilities $14,651
Total equity capital$14,651
Total bank equity capital$14,651
Perpetual preferred stock$0
Common stock$250
Surplus$6,175
Undivided profits $8,226
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 $2,657
Earning assets $0
Long-term assets (5+ years) $1,194
Average Assets, year-to-date $135,615
Average Assets, quarterly $25,862
Volatile liabilities $141,207
Insider loans $144,804
FHLB advances $131,177
Loans and leases held for sale $146,242
Unused loan commitments $756
Tier 1 (core) risk-based capital $756
Tier 2 risk-based capital $14,613
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $26,520
Derivatives$2,235
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,145
Total interest expense $1,582
Net interest income $5,563
Provision for loan and lease losses $300
Total noninterest income $609
Fiduciary activities $0
Service charges on deposit accounts $144
Trading account gains & fees $0
Additional noninterest income $465
Total noninterest expense $4,072
Salaries and employee benefits $2,558
Premises and equipment expense $419
Additional noninterest expense $1,095
Pre-tax net operating income $1,800
Securities gains (losses) $0
Applicable income taxes $120
Income before extraordinary items $1,680
Extraordinary gains - net $0
Net income attributable to bank $1,680
Net charge-offs $0
Cash dividends $1,680
Sale, conversion, retirement of capital stock, net $34
Net operating income $675
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.38%
Cost of funding earning assets 1.19%
Net interest margin 4.19%
Noninterest income to earning assets 0.46%
Noninterest expense to earning assets 3.06%
Net operating income to assets 1.19%
Return on assets (ROA) 1.19%
Pretax return on assets 1.27%
Return on equity (ROE) 11.81%
Retained earnings to average equity (YTD only) 7.06%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs 882.35%
Efficiency ratio61.76%
Assets per employee$65,975
Cash dividends to net income (YTD only)5.02%
Condition Ratios (%)
Loss allowance to loans 40.18%
Loss allowance to noncurrent loans 1.26%
Noncurrent assets plus other real estate owned to assets 61.05%
Noncurrent loans to loans 2.05%
Net loans and leases to deposits2.06%
Net loans and leases to core deposits 114.91%
Equity capital to assets 137.82%
Core capital (leverage) ratio 10.07%
Tier 1 risk-based capital ratio 9.99%
Total risk-based capital ratio 11.14%
Memoranda
Average assets$12
Average earning assets$141,207
Average equity $14,230
Average loans $132,856
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3 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09834First State Bank425 Broadway, Buxton, ND 58218January 01, 1885Full Service Brick and Mortar
1234503Paying And Receiving Branch620 Broadway Street, Thompson, ND 58278September 27, 1937Full Service Brick and Mortar
2234504Grand Forks Branch2500 32nd Avenue, South, Grand Forks, ND 58201Febuary 18, 1997Full Service Brick and Mortar
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