First State Bank and Trust in Bayport, Minnesota (MN)
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| First State Bank and Trust | |
|---|---|
| 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 WWW: http://www.bayportbank.com 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 62 |
| Total assets | $217,729 |
| Cash and due from depository institutions | $15,214 |
| Interest-bearing balances | $7,924 |
| Securities | $70,367 |
| Federal funds sold & reverse repurchase agreements | $6,588 |
| Net loans & leases | $117,625 |
| Loan loss allowance | $2,230 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,448 |
| Other real estate owned | $261 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,226 |
| Life insurance assets | $217,729 |
| Total liabilities and capital | $200,932 |
| Total liabilities | $197,772 |
| Total deposits | $155,680 |
| Interest-bearing deposits | $197,772 |
| Deposits held in domestic offices | $87 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $3,160 |
| All other liabilities | $16,797 |
| Total equity capital | $16,797 |
| Total bank equity capital | $16,797 |
| Perpetual preferred stock | $0 |
| Common stock | $4,860 |
| Surplus | $7,640 |
| Undivided profits | $4,297 |
| 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 | $1,094 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $775 |
| Average Assets, year-to-date | $202,504 |
| Average Assets, quarterly | $63,727 |
| Volatile liabilities | $208,688 |
| Insider loans | $213,930 |
| FHLB advances | $118,102 |
| Loans and leases held for sale | $212,883 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $15,904 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $15,166 |
| Derivatives | $1,999 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $9,150 |
| Total interest expense | $1,516 |
| Net interest income | $7,634 |
| Provision for loan and lease losses | $990 |
| Total noninterest income | $2,728 |
| Fiduciary activities | $1,281 |
| Service charges on deposit accounts | $325 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $1,122 |
| Total noninterest expense | $7,869 |
| Salaries and employee benefits | $4,926 |
| Premises and equipment expense | $1,045 |
| Additional noninterest expense | $1,898 |
| Pre-tax net operating income | $1,503 |
| Securities gains (losses) | -$28 |
| Applicable income taxes | $5 |
| Income before extraordinary items | $1,470 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,470 |
| Net charge-offs | $0 |
| Cash dividends | $1,470 |
| Sale, conversion, retirement of capital stock, net | $865 |
| Net operating income | $1,281 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.69% |
| Cost of funding earning assets | 0.78% |
| Net interest margin | 3.91% |
| Noninterest income to earning assets | 1.40% |
| Noninterest expense to earning assets | 4.03% |
| Net operating income to assets | 0.72% |
| Return on assets (ROA) | 0.70% |
| Pretax return on assets | 0.71% |
| Return on equity (ROE) | 8.60% |
| Retained earnings to average equity (YTD only) | 1.11% |
| Net charge-offs to loans | 0.72% |
| Credit loss provision to net charge-offs | 114.45% |
| Efficiency ratio | 2.88% |
| Assets per employee | $75,941 |
| Cash dividends to net income (YTD only) | 3.51% |
| Condition Ratios (%) | |
| Loss allowance to loans | 87.14% |
| Loss allowance to noncurrent loans | 1.86% |
| Noncurrent assets plus other real estate owned to assets | 203.84% |
| Noncurrent loans to loans | 0.62% |
| Net loans and leases to deposits | 0.91% |
| Net loans and leases to core deposits | 59.48% |
| Equity capital to assets | 63.89% |
| Core capital (leverage) ratio | 7.71% |
| Tier 1 risk-based capital ratio | 7.47% |
| Total risk-based capital ratio | 13.47% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $208,688 |
| Average equity | $17,094 |
| Average loans | $195,188 |
| Total Fiduciary and Related Assets (December 31, 2011) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $646,476 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $125,929 |
| Employee benefit-defined contribution accounts | $103,365 |
| Employee benefit-defined benefit accounts | $1,092 |
| Other retirement accounts | $183 |
| Corporate trust and agency accounts | $0 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $0 |
| Fiduciary accounts held in foreign offices | $20,659 |
| Non-managed Assets | $630 |
| Number of Accounts | 527 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $520,547 |
| Corporate trust and agency accounts | $421,779 |
| Other fiduciary accounts | $1,202 |
| Fiduciary accounts held in foreign offices | $13 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6500 | First State Bank And Trust | 950 North Highway 95, Bayport, MN 55003 | January 01, 1914 | Full Service Brick and Mortar |  |
| 1 | 221973 | Oak Park Heights Branch | 5891 Neal Avenue North, Oak Park Heights, MN 55082 | May 14, 1998 | Full Service Brick and Mortar |  |
| 2 | 364049 | Boutwell's Landing - Town Square Bra | 5590 Norwich Parkway, Oak Park Heights, MN 55082 | June 18, 2002 | Limited Service Facility | |
| 3 | 431159 | Stillwater Branch | 125 New England Place, Stillwater, MN 55082 | August 03, 2004 | Full Service Brick and Mortar | |
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Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.