First State Bank Southwest in Pipestone, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

First State Bank Southwest - Overview

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Summary
  • Total 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
  • 53Total employees (full-time equivalent)
  • $206,050Total assets
  • $10,476Cash and due from depository institutions
  • $297Interest-bearing balances
  • $70,167Securities
  • $1,119Federal funds sold & reverse repurchase agreements
  • $111,808Net loans & leases
  • $2,151Loan loss allowance
  • $0Trading account assets
  • $4,854Bank premises and fixed assets
  • $463Other real estate owned
  • $319Goodwill and other intangibles
  • $206,050Life insurance assets
  • $6,844All other assets
  • $185,024Total liabilities and capital
  • $171,513Total liabilities
  • $141,129Total deposits
  • $171,513Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 12695.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $816Subordinated debt
  • $21,026All other liabilities
  • $21,026Total equity capital
  • $21,026Total bank equity capital
  • $0Perpetual preferred stock
  • $1,680Common stock
  • $10,300Surplus
  • $9,046Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $284Income earned, not collected on loans
  • $0Earning assets
  • $1,837Long-term assets (5+ years)
  • $183,391Average Assets, year-to-date
  • $58,811Average Assets, quarterly
  • $191,675Volatile liabilities
  • $199,510Insider loans
  • $127,555FHLB advances
  • $196,614Loans and leases held for sale
  • $3,268Unused loan commitments
  • $3,268Tier 1 (core) risk-based capital
  • $18,684Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $28,467Restructured Loans and leases
  • $250Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,248Total interest income
  • $1,364Total interest expense
  • $6,884Net interest income
  • $190Provision for loan and lease losses
  • $1,817Total noninterest income
  • $0Fiduciary activities
  • $523Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,294Additional noninterest income
  • $5,453Total noninterest expense
  • $3,080Salaries and employee benefits
  • $507Premises and equipment expense
  • $1,866Additional noninterest expense
  • $3,058Pre-tax net operating income
  • $6Securities gains (losses)
  • $2Applicable income taxes
  • $3,062Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,062Net income attributable to bank
  • $0Net charge-offs
  • $3,062Cash dividends
  • $246Sale, conversion, retirement of capital stock, net
  • $1,582Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.70%Yield on earning assets
  • 0.78%Cost of funding earning assets
  • 3.92%Net interest margin
  • 1.03%Noninterest income to earning assets
  • 3.10%Noninterest expense to earning assets
  • 1.59%Net operating income to assets
  • 1.60%Return on assets (ROA)
  • 1.60%Pretax return on assets
  • 15.66%Return on equity (ROE)
  • 7.57%Retained earnings to average equity (YTD only)
  • 0.22%Net charge-offs to loans
  • 77.24%Credit loss provision to net charge-offs
  • 13.20%Efficiency ratio
  • 62,108Assets per employee
  • 3.89%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 51.67%Loss allowance to loans
  • 1.89%Loss allowance to noncurrent loans
  • 757.39%Noncurrent assets plus other real estate owned to assets
  • 0.36%Noncurrent loans to loans
  • 0.25%Net loans and leases to deposits
  • 65.19%Net loans and leases to core deposits
  • 67.51%Equity capital to assets
  • 10.20%Core capital (leverage) ratio
  • 9.50%Tier 1 risk-based capital ratio
  • 14.65%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $191,675Average earning assets
  • $19,548Average equity
  • $175,661Average loans

List of branches

  • 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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