First State Bank in Wilmot, South Dakota (SD)



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First State Bank
GeneralFDIC Certificate #: 15787
Status: Active
Federal Reserve ID: 624152
Bank Holding Company (Regulatory Top Holder): Northeast Bancorp, Inc. (RSSDID: 1842971, Location: Brandon, SD)
Date Established: January 01, 1941
WWW: http://www.firststatebanksd.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 10034
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, 1941
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: 707 Main Street, Wilmot, SD 57279
County: Roberts
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
History of ChangesChange in Location
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $38.7 mil
Equity capital: $3.6 mil
Deposits held in domestic offices: $33.7 mil
Return on assets (ROA): 0.74% ($0.3 mil)
Quarterly return on assets: 0.19% ($0.1 mil)
Return on Equity (ROE): 8.16% ($0.3 mil)
Quarterly return on equity: 2.01% ($0.1 mil)
Net income: $0.3 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.79% ($305.4 mil)
Quarterly Pretax return on assets: 0.28% ($108.2 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)9
Total assets$38,652
Cash and due from depository institutions$2,697
Interest-bearing balances$842
Securities$14,110
Federal funds sold & reverse repurchase agreements$2,000
Net loans & leases$16,636
Loan loss allowance $339
Trading account assets$0
Bank premises and fixed assets$631
Other real estate owned$650
Goodwill and other intangibles$0
All other assets$1,928
Life insurance assets$38,652
Total liabilities and capital$35,071
Total liabilities$33,718
Total deposits$26,715
Interest-bearing deposits$33,718
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,300
Other borrowed funds $0
Subordinated debt $53
All other liabilities $3,581
Total equity capital$3,581
Total bank equity capital$3,581
Perpetual preferred stock$0
Common stock$100
Surplus$3,178
Undivided profits $303
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 $804
Earning assets $0
Long-term assets (5+ years) $411
Average Assets, year-to-date $33,588
Average Assets, quarterly $12,189
Volatile liabilities $37,594
Insider loans $37,957
FHLB advances $28,116
Loans and leases held for sale $38,365
Unused loan commitments $1,195
Tier 1 (core) risk-based capital $1,195
Tier 2 risk-based capital $3,661
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,098
Derivatives$41
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,794
Total interest expense $422
Net interest income $1,372
Provision for loan and lease losses $50
Total noninterest income $165
Fiduciary activities $0
Service charges on deposit accounts $157
Trading account gains & fees $0
Additional noninterest income $8
Total noninterest expense $1,100
Salaries and employee benefits $518
Premises and equipment expense $173
Additional noninterest expense $409
Pre-tax net operating income $387
Securities gains (losses) -$90
Applicable income taxes $18
Income before extraordinary items $279
Extraordinary gains - net $0
Net income attributable to bank $279
Net charge-offs $0
Cash dividends $279
Sale, conversion, retirement of capital stock, net $38
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.55%
Cost of funding earning assets 1.30%
Net interest margin 4.24%
Noninterest income to earning assets 0.51%
Noninterest expense to earning assets 3.40%
Net operating income to assets 0.97%
Return on assets (ROA) 0.74%
Pretax return on assets 0.79%
Return on equity (ROE) 8.16%
Retained earnings to average equity (YTD only) 8.16%
Net charge-offs to loans 0.22%
Credit loss provision to net charge-offs 131.58%
Efficiency ratio11.50%
Assets per employee$71,568
Cash dividends to net income (YTD only)4.29%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.00%
Noncurrent assets plus other real estate owned to assets 42.16%
Noncurrent loans to loans 3.76%
Net loans and leases to deposits4.74%
Net loans and leases to core deposits 49.34%
Equity capital to assets 51.61%
Core capital (leverage) ratio 9.26%
Tier 1 risk-based capital ratio 9.54%
Total risk-based capital ratio 13.02%
Memoranda
Average assets$14
Average earning assets$37,594
Average equity $3,419
Average loans $32,344
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2 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
010034First State Bank707 Main Street, Wilmot, SD 57279January 01, 1941Full Service Brick and Mortar
1434063Big Stone City Branch459 Main Street, Big Stone City, SD 57216November 12, 2004Full Service Brick and Mortar
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