First State Bank Southwest in Pipestone, Minnesota (MN)



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First State Bank Southwest routing number info

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First State Bank Southwest
GeneralFDIC Certificate #: 9770
Status: Active
Federal Reserve ID: 823656
Bank Holding Company (Regulatory Top Holder): First State Bank Southwest 2010 Amended And Restated Ksop Plan And Trust (RSSDID: 2399678, Location: Worthington, MN)
Date Established: January 01, 1903
WWW: http://www.firststatebanksw.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 13074
FDIC's unique #: 6254
Numeric code: 13
Regulator: FED
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: October 26, 2011
Last Structure Change Process Date: October 26, 2011
Last Data Update: October 26, 2011
Data Source Date: April 05, 2012
LocationAddress: 202 Second Street Southeast, Pipestone, MN 56164
County: Pipestone
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: Central
Office of Thrift Supervision Region: West
Financial SummaryTotal assets: $206.1 mil
Equity capital: $21.0 mil
Deposits held in domestic offices: $171.5 mil
Return on assets (ROA): 1.60% ($3.3 mil)
Quarterly return on assets: 1.72% ($3.5 mil)
Return on Equity (ROE): 15.66% ($3.3 mil)
Quarterly return on equity: 16.48% ($3.5 mil)
Net income: $3.1 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 1.60% ($3,296.8 mil)
Quarterly Pretax return on assets: 1.72% ($3,544.1 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)53
Total assets$206,050
Cash and due from depository institutions$10,476
Interest-bearing balances$297
Securities$70,167
Federal funds sold & reverse repurchase agreements$1,119
Net loans & leases$111,808
Loan loss allowance $2,151
Trading account assets$0
Bank premises and fixed assets$4,854
Other real estate owned$463
Goodwill and other intangibles$319
All other assets$6,844
Life insurance assets$206,050
Total liabilities and capital$185,024
Total liabilities$171,513
Total deposits$141,129
Interest-bearing deposits$171,513
Deposits held in domestic offices$94
% insured (estimated)12695.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $816
All other liabilities $21,026
Total equity capital$21,026
Total bank equity capital$21,026
Perpetual preferred stock$0
Common stock$1,680
Surplus$10,300
Undivided profits $9,046
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 $284
Earning assets $0
Long-term assets (5+ years) $1,837
Average Assets, year-to-date $183,391
Average Assets, quarterly $58,811
Volatile liabilities $191,675
Insider loans $199,510
FHLB advances $127,555
Loans and leases held for sale $196,614
Unused loan commitments $3,268
Tier 1 (core) risk-based capital $3,268
Tier 2 risk-based capital $18,684
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $28,467
Derivatives$250
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,248
Total interest expense $1,364
Net interest income $6,884
Provision for loan and lease losses $190
Total noninterest income $1,817
Fiduciary activities $0
Service charges on deposit accounts $523
Trading account gains & fees $0
Additional noninterest income $1,294
Total noninterest expense $5,453
Salaries and employee benefits $3,080
Premises and equipment expense $507
Additional noninterest expense $1,866
Pre-tax net operating income $3,058
Securities gains (losses) $6
Applicable income taxes $2
Income before extraordinary items $3,062
Extraordinary gains - net $0
Net income attributable to bank $3,062
Net charge-offs $0
Cash dividends $3,062
Sale, conversion, retirement of capital stock, net $246
Net operating income $1,582
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.70%
Cost of funding earning assets 0.78%
Net interest margin 3.92%
Noninterest income to earning assets 1.03%
Noninterest expense to earning assets 3.10%
Net operating income to assets 1.59%
Return on assets (ROA) 1.60%
Pretax return on assets 1.60%
Return on equity (ROE) 15.66%
Retained earnings to average equity (YTD only) 7.57%
Net charge-offs to loans 0.22%
Credit loss provision to net charge-offs 77.24%
Efficiency ratio13.20%
Assets per employee$62,108
Cash dividends to net income (YTD only)3.89%
Condition Ratios (%)
Loss allowance to loans 51.67%
Loss allowance to noncurrent loans 1.89%
Noncurrent assets plus other real estate owned to assets 757.39%
Noncurrent loans to loans 0.36%
Net loans and leases to deposits0.25%
Net loans and leases to core deposits 65.19%
Equity capital to assets 67.51%
Core capital (leverage) ratio 10.20%
Tier 1 risk-based capital ratio 9.50%
Total risk-based capital ratio 14.65%
Memoranda
Average assets$16
Average earning assets$191,675
Average equity $19,548
Average loans $175,661
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6 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06254First State Bank Southwest202 Second Street Southeast, Pipestone, MN 56164January 01, 1903Full Service Brick and Mortar
1221117Worthington Branch1433 Oxford Street, Worthington, MN 56187January 23, 1984Full Service Brick and Mortar
2221118Rushmore Branch103 North Thompson Avenue, Rushmore, MN 56168October 11, 1999Full Service Brick and Mortar
3357877Worthingron1055 Ryans Road, Worthington, MN 56187January 26, 2000Full Service Retail
46222Edgerton Branch760 Main Street, Edgerton, MN 56128March 10, 1908Full Service Brick and Mortar
5238434Leota Branch423 Main Street, Leota, MN 56153August 10, 1981Full Service Brick and Mortar
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