First State Bank in Britt, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches


First State Bank - Overview

  • General
  • FDIC Certificate #: 8522
    Status: Active
    Federal Reserve ID: 795249
    Bank Holding Company (Regulatory Top Holder): Readlyn Bancshares, Inc. (RSSDID: 1139327, Location: Saint Paul, MN)
    Date Established: November 12, 1927
    WWW: http://www.fsb-britt.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 10333
    FDIC's unique #: 5430
    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: January 01, 1934
    Last Structure Change Effective Date: October 10, 2006
    Last Structure Change Process Date: October 24, 2006
    Last Data Update: October 24, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 183 Main Avenue North, Britt, IA 50423
    County: Hancock
    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 Changes
  • Change in Location
  • Financial Summary
  • Total assets: $93.8 mil
    Equity capital: $10.6 mil
    Deposits held in domestic offices: $76.9 mil
    Return on assets (ROA): 1.81% ($1.7 mil)
    Quarterly return on assets: 1.89% ($1.8 mil)
    Return on Equity (ROE): 15.78% ($1.7 mil)
    Quarterly return on equity: 16.32% ($1.8 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 2.39% ($2,242.2 mil)
    Quarterly Pretax return on assets: 2.53% ($2,373.5 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
  • 11Total employees (full-time equivalent)
  • $93,815Total assets
  • $2,296Cash and due from depository institutions
  • $721Interest-bearing balances
  • $48,309Securities
  • $6,155Federal funds sold & reverse repurchase agreements
  • $34,467Net loans & leases
  • $420Loan loss allowance
  • $0Trading account assets
  • $720Bank premises and fixed assets
  • $241Other real estate owned
  • $0Goodwill and other intangibles
  • $93,815Life insurance assets
  • $1,627All other assets
  • $83,196Total liabilities and capital
  • $76,906Total liabilities
  • $67,271Total deposits
  • $76,906Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 1669.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,625Trading liabilities
  • $0Other borrowed funds
  • $996Subordinated debt
  • $10,619All other liabilities
  • $10,619Total equity capital
  • $10,619Total bank equity capital
  • $0Perpetual preferred stock
  • $610Common stock
  • $1,390Surplus
  • $8,619Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $643Long-term assets (5+ years)
  • $89,652Average Assets, year-to-date
  • $52,075Average Assets, quarterly
  • $85,461Volatile liabilities
  • $91,196Insider loans
  • $46,777FHLB advances
  • $91,854Loans and leases held for sale
  • $512Unused loan commitments
  • $512Tier 1 (core) risk-based capital
  • $9,682Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,097Restructured Loans and leases
  • $175Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,756Total interest income
  • $1,030Total interest expense
  • $2,726Net interest income
  • $18Provision for loan and lease losses
  • $160Total noninterest income
  • $0Fiduciary activities
  • $75Service charges on deposit accounts
  • $0Trading account gains & fees
  • $85Additional noninterest income
  • $951Total noninterest expense
  • $596Salaries and employee benefits
  • $68Premises and equipment expense
  • $287Additional noninterest expense
  • $1,917Pre-tax net operating income
  • $129Securities gains (losses)
  • $498Applicable income taxes
  • $1,548Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,548Net income attributable to bank
  • $0Net charge-offs
  • $1,548Cash dividends
  • -$8Sale, conversion, retirement of capital stock, net
  • $850Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.60%Yield on earning assets
  • 1.26%Cost of funding earning assets
  • 3.34%Net interest margin
  • 0.20%Noninterest income to earning assets
  • 1.17%Noninterest expense to earning assets
  • 1.70%Net operating income to assets
  • 1.81%Return on assets (ROA)
  • 2.39%Pretax return on assets
  • 15.78%Return on equity (ROE)
  • 7.12%Retained earnings to average equity (YTD only)
  • -0.02%Net charge-offs to loans
  • -225.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 32,952Assets per employee
  • 8.53%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.91%Loss allowance to loans
  • 1.20%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.26%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 44.82%Net loans and leases to core deposits
  • 50.31%Equity capital to assets
  • 11.32%Core capital (leverage) ratio
  • 10.54%Tier 1 risk-based capital ratio
  • 20.70%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $85,461Average earning assets
  • $9,809Average equity
  • $81,603Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $202Managed Assets
  • 1Number of Accounts
  • $202Personal trust and agency accounts
  • $202Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 27Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 2 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05430First State Bank183 Main Avenue North, Britt, IA 50423November 12, 1927Full Service Brick and Mortar
    1218626Woden BranchMain Street, Woden, IA 50484June 01, 1932Full Service Brick and Mortar

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