First State Bank of Fertile in Fertile, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

First State Bank of Fertile - Overview

  • General
  • FDIC Certificate #: 10186
    Status: Active
    Federal Reserve ID: 16953
    Bank Holding Company (Regulatory Top Holder): Fertile Bancshares, Inc. (RSSDID: 1126952, Location: Fertile, MN)
    Date Established: December 12, 1887
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 6526
    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 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: 114 Mill Street North, Fertile, MN 56540
    County: Polk
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Grand Forks, ND-MN (#2985)
    Core Based Statistical Area (CBSA): Grand Forks, ND-MN (#24220)
    CBSA Metro Statistical Area: Grand Forks, ND-MN (#24220)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $35.0 mil
    Equity capital: $5.3 mil
    Deposits held in domestic offices: $29.6 mil
    Return on assets (ROA): 0.61% ($0.2 mil)
    Quarterly return on assets: 0.45% ($0.2 mil)
    Return on Equity (ROE): 4.10% ($0.2 mil)
    Quarterly return on equity: 2.85% ($0.1 mil)
    Net income: $0.2 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.61% ($213.5 mil)
    Quarterly Pretax return on assets: 0.45% ($157.5 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
  • 8Total employees (full-time equivalent)
  • $35,002Total assets
  • $9,220Cash and due from depository institutions
  • $7,779Interest-bearing balances
  • $11,012Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $14,277Net loans & leases
  • $108Loan loss allowance
  • $0Trading account assets
  • $84Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $35,002Life insurance assets
  • $409All other assets
  • $29,659Total liabilities and capital
  • $29,593Total liabilities
  • $22,707Total deposits
  • $29,593Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $66Subordinated debt
  • $5,343All other liabilities
  • $5,343Total equity capital
  • $5,343Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $2,775Surplus
  • $2,468Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $80Income earned, not collected on loans
  • $0Earning assets
  • $340Long-term assets (5+ years)
  • $33,068Average Assets, year-to-date
  • $11,910Average Assets, quarterly
  • $33,948Volatile liabilities
  • $34,048Insider loans
  • $18,848FHLB advances
  • $35,061Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $5,196Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $0Restructured Loans and leases
  • $140Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,454Total interest income
  • $182Total interest expense
  • $1,272Net interest income
  • $53Provision for loan and lease losses
  • $81Total noninterest income
  • $0Fiduciary activities
  • $62Service charges on deposit accounts
  • $0Trading account gains & fees
  • $19Additional noninterest income
  • $1,093Total noninterest expense
  • $754Salaries and employee benefits
  • $62Premises and equipment expense
  • $277Additional noninterest expense
  • $207Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $207Income before extraordinary items
  • $0Extraordinary gains - net
  • $207Net income attributable to bank
  • $0Net charge-offs
  • $207Cash dividends
  • $36Sale, conversion, retirement of capital stock, net
  • $170Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.49%Yield on earning assets
  • 0.56%Cost of funding earning assets
  • 3.93%Net interest margin
  • 0.25%Noninterest income to earning assets
  • 3.38%Noninterest expense to earning assets
  • 0.61%Net operating income to assets
  • 0.61%Return on assets (ROA)
  • 0.61%Pretax return on assets
  • 4.10%Return on equity (ROE)
  • 0.73%Retained earnings to average equity (YTD only)
  • 0.26%Net charge-offs to loans
  • 147.22%Credit loss provision to net charge-offs
  • 7.22%Efficiency ratio
  • 80,783Assets per employee
  • 4.38%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 82.13%Loss allowance to loans
  • 0.75%Loss allowance to noncurrent loans
  • 135.00%Noncurrent assets plus other real estate owned to assets
  • 0.23%Noncurrent loans to loans
  • 0.56%Net loans and leases to deposits
  • 48.24%Net loans and leases to core deposits
  • 48.24%Equity capital to assets
  • 15.26%Core capital (leverage) ratio
  • 14.82%Tier 1 risk-based capital ratio
  • 27.57%Total risk-based capital ratio
  • Memoranda
  • $28Average assets
  • $33,948Average earning assets
  • $5,047Average equity
  • $32,381Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06526First State Bank Of Fertile114 Mill Street North, Fertile, MN 56540December 12, 1887Full Service Brick and Mortar

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