First State Bank and Trust in Bayport, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First State Bank and Trust in Bayport, Minnesota (MN)
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First State Bank and Trust - Overview

  • General
  • FDIC Certificate #: 10159
    Status: Active
    Federal Reserve ID: 144856
    Bank Holding Company (Regulatory Top Holder): Universal Financial Services, Inc. (RSSDID: 2387152, Location: Bayport, MN)
    Date Established: January 01, 1914
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 13379
    FDIC's unique #: 6500
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: January 01, 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
  • Location
  • Address: 950 North Highway 95, Bayport, MN 55003
    County: Washington
    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
    Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
    CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $217.7 mil
    Equity capital: $16.8 mil
    Deposits held in domestic offices: $197.8 mil
    Return on assets (ROA): 0.70% ($1.5 mil)
    Quarterly return on assets: 0.65% ($1.4 mil)
    Return on Equity (ROE): 8.60% ($1.5 mil)
    Quarterly return on equity: 7.98% ($1.4 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.71% ($1,545.9 mil)
    Quarterly Pretax return on assets: 0.65% ($1,415.2 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
  • 62Total employees (full-time equivalent)
  • $217,729Total assets
  • $15,214Cash and due from depository institutions
  • $7,924Interest-bearing balances
  • $70,367Securities
  • $6,588Federal funds sold & reverse repurchase agreements
  • $117,625Net loans & leases
  • $2,230Loan loss allowance
  • $0Trading account assets
  • $4,448Bank premises and fixed assets
  • $261Other real estate owned
  • $0Goodwill and other intangibles
  • $217,729Life insurance assets
  • $3,226All other assets
  • $200,932Total liabilities and capital
  • $197,772Total liabilities
  • $155,680Total deposits
  • $197,772Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,160Subordinated debt
  • $16,797All other liabilities
  • $16,797Total equity capital
  • $16,797Total bank equity capital
  • $0Perpetual preferred stock
  • $4,860Common stock
  • $7,640Surplus
  • $4,297Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,094Income earned, not collected on loans
  • $0Earning assets
  • $775Long-term assets (5+ years)
  • $202,504Average Assets, year-to-date
  • $63,727Average Assets, quarterly
  • $208,688Volatile liabilities
  • $213,930Insider loans
  • $118,102FHLB advances
  • $212,883Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $15,904Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,166Restructured Loans and leases
  • $1,999Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,150Total interest income
  • $1,516Total interest expense
  • $7,634Net interest income
  • $990Provision for loan and lease losses
  • $2,728Total noninterest income
  • $1,281Fiduciary activities
  • $325Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,122Additional noninterest income
  • $7,869Total noninterest expense
  • $4,926Salaries and employee benefits
  • $1,045Premises and equipment expense
  • $1,898Additional noninterest expense
  • $1,503Pre-tax net operating income
  • -$28Securities gains (losses)
  • $5Applicable income taxes
  • $1,470Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,470Net income attributable to bank
  • $0Net charge-offs
  • $1,470Cash dividends
  • $865Sale, conversion, retirement of capital stock, net
  • $1,281Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.69%Yield on earning assets
  • 0.78%Cost of funding earning assets
  • 3.91%Net interest margin
  • 1.40%Noninterest income to earning assets
  • 4.03%Noninterest expense to earning assets
  • 0.72%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 0.71%Pretax return on assets
  • 8.60%Return on equity (ROE)
  • 1.11%Retained earnings to average equity (YTD only)
  • 0.72%Net charge-offs to loans
  • 114.45%Credit loss provision to net charge-offs
  • 2.88%Efficiency ratio
  • 75,941Assets per employee
  • 3.51%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 87.14%Loss allowance to loans
  • 1.86%Loss allowance to noncurrent loans
  • 203.84%Noncurrent assets plus other real estate owned to assets
  • 0.62%Noncurrent loans to loans
  • 0.91%Net loans and leases to deposits
  • 59.48%Net loans and leases to core deposits
  • 63.89%Equity capital to assets
  • 7.71%Core capital (leverage) ratio
  • 7.47%Tier 1 risk-based capital ratio
  • 13.47%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $208,688Average earning assets
  • $17,094Average equity
  • $195,188Average 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
  • $646,476Managed Assets
  • 1Number of Accounts
  • $125,929Personal trust and agency accounts
  • $103,365Employee benefit-defined contribution accounts
  • $1,092Employee benefit-defined benefit accounts
  • $183Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $20,659Fiduciary accounts held in foreign offices
  • $630Non-managed Assets
  • 527Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $520,547Other retirement accounts
  • $421,779Corporate trust and agency accounts
  • $1,202Other fiduciary accounts
  • $13Fiduciary accounts held in foreign offices

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06500First State Bank And Trust950 North Highway 95, Bayport, MN 55003January 01, 1914Full Service Brick and Mortar
    1221973Oak Park Heights Branch5891 Neal Avenue North, Oak Park Heights, MN 55082May 14, 1998Full Service Brick and Mortar
    2364049Boutwell's Landing - Town Square Bra5590 Norwich Parkway, Oak Park Heights, MN 55082June 18, 2002Limited Service Facility
    3431159Stillwater Branch125 New England Place, Stillwater, MN 55082August 03, 2004Full Service Brick and Mortar

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