First State Bank Minnesota in Le Roy, Minnesota (MN)

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First State Bank Minnesota
GeneralFDIC Certificate #: 10162
Status: Active
Federal Reserve ID: 60554
Bank Holding Company (Regulatory Top Holder): First Leroy Bancorporation, Inc. (RSSDID: 1128899, Location: Le Roy, MN)
Date Established: June 01, 1893
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 12780
FDIC's unique #: 6503
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 04, 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: 102 W. Main Street, Le Roy, MN 55951
County: Mower
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
Core Based Statistical Area (CBSA): Austin, MN (#12380)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $65.8 mil
Equity capital: $5.5 mil
Deposits held in domestic offices: $59.8 mil
Return on assets (ROA): 1.04% ($0.7 mil)
Quarterly return on assets: 0.98% ($0.6 mil)
Return on Equity (ROE): 12.27% ($0.6 mil)
Quarterly return on equity: 11.61% ($0.6 mil)
Net income: $0.6 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.04% ($684.1 mil)
Quarterly Pretax return on assets: 0.98% ($644.6 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)19
Total assets$65,780
Cash and due from depository institutions$8,333
Interest-bearing balances$4,496
Federal funds sold & reverse repurchase agreements$500
Net loans & leases$32,973
Loan loss allowance $404
Trading account assets$0
Bank premises and fixed assets$910
Other real estate owned$190
Goodwill and other intangibles$0
All other assets$1,361
Life insurance assets$65,780
Total liabilities and capital$60,302
Total liabilities$59,783
Total deposits$47,651
Interest-bearing deposits$59,783
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$463
Other borrowed funds $0
Subordinated debt $56
All other liabilities $5,478
Total equity capital$5,478
Total bank equity capital$5,478
Perpetual preferred stock$0
Common stock$50
Undivided profits $2,978
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 $139
Earning assets $0
Long-term assets (5+ years) $541
Average Assets, year-to-date $59,482
Average Assets, quarterly $7,564
Volatile liabilities $61,631
Insider loans $64,436
FHLB advances $37,916
Loans and leases held for sale $64,510
Unused loan commitments $401
Tier 1 (core) risk-based capital $401
Tier 2 risk-based capital $5,110
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,149
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,524
Total interest expense $447
Net interest income $2,077
Provision for loan and lease losses $27
Total noninterest income $291
Fiduciary activities $0
Service charges on deposit accounts $221
Trading account gains & fees $0
Additional noninterest income $70
Total noninterest expense $1,699
Salaries and employee benefits $988
Premises and equipment expense $282
Additional noninterest expense $429
Pre-tax net operating income $642
Securities gains (losses) $0
Applicable income taxes $1
Income before extraordinary items $641
Extraordinary gains - net $0
Net income attributable to bank $641
Net charge-offs $0
Cash dividends $641
Sale, conversion, retirement of capital stock, net $63
Net operating income $516
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.43%
Cost of funding earning assets 0.78%
Net interest margin 3.65%
Noninterest income to earning assets 0.51%
Noninterest expense to earning assets 2.98%
Net operating income to assets 1.04%
Return on assets (ROA) 1.04%
Pretax return on assets 1.04%
Return on equity (ROE) 12.27%
Retained earnings to average equity (YTD only) 2.39%
Net charge-offs to loans 0.19%
Credit loss provision to net charge-offs 42.86%
Efficiency ratio10.62%
Assets per employee$71,748
Cash dividends to net income (YTD only)3.46%
Condition Ratios (%)
Loss allowance to loans 80.50%
Loss allowance to noncurrent loans 1.21%
Noncurrent assets plus other real estate owned to assets 290.65%
Noncurrent loans to loans 0.50%
Net loans and leases to deposits0.42%
Net loans and leases to core deposits 55.15%
Equity capital to assets 55.15%
Core capital (leverage) ratio 8.33%
Tier 1 risk-based capital ratio 7.92%
Total risk-based capital ratio 13.48%
Average assets$15
Average earning assets$61,631
Average equity $5,225
Average loans $56,974
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06503First State Bank Minnesota102 W. Main Street, Le Roy, MN 55951June 01, 1893Full Service Brick and Mortar
1221976Spring Valley Branch1030 North Broadway, Spring Valley, MN 55975March 15, 1993Full Service Brick and Mortar
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