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

This bank is inactive as of Febuary 14, 2004

  • First State Bank of Floodwood in Floodwood, Minnesota (MN)
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First State Bank of Floodwood - Overview

  • General
  • FDIC Certificate #: 9742
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Northview Bank (#10956)
    Federal Reserve ID: 47658
    Date Established: January 01, 1908
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 6231
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: Febuary 14, 2004
    Last Structure Change Process Date: Febuary 26, 2004
    Last Data Update: Febuary 26, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: Main Street, Floodwood, MN 55736
    County: St. Louis
    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): Duluth-Superior, MN-WI (#2240)
    Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
    CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
  • Financial Summary
  • Total assets: $15.3 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, 2003)

  • Dollar figures in thousands
  • 9Total employees (full-time equivalent)
  • $15,265Total assets
  • $999Cash and due from depository institutions
  • $0Interest-bearing balances
  • $1,309Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $12,123Net loans & leases
  • $157Loan loss allowance
  • $0Trading account assets
  • $333Bank premises and fixed assets
  • $0Other real estate owned
  • $347Goodwill and other intangibles
  • $0Life insurance assets
  • $154All other assets
  • $15,265Total liabilities and capital
  • $13,196Total liabilities
  • $12,650Total deposits
  • $9,945Interest-bearing deposits
  • $12,650Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $473Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $73All other liabilities
  • $2,069Total equity capital
  • $2,069Total bank equity capital
  • $2,069Perpetual preferred stock
  • $0Common stock
  • $100Surplus
  • $1,821Undivided profits
  • Memoranda
  • $148Noncurrent loans and leases
  • $74Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $82Earning assets
  • $0Long-term assets (5+ years)
  • $85Average Assets, year-to-date
  • $13,432Average Assets, quarterly
  • $1,042Volatile liabilities
  • $14,350Insider loans
  • $14,927FHLB advances
  • $1,930Loans and leases held for sale
  • $80Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $74Total unused commitments
  • $0Restructured Loans and leases
  • $141Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $708Total interest income
  • $141Total interest expense
  • $567Net interest income
  • $39Provision for loan and lease losses
  • $59Total noninterest income
  • $0Fiduciary activities
  • $37Service charges on deposit accounts
  • $0Trading account gains & fees
  • $22Additional noninterest income
  • $359Total noninterest expense
  • $221Salaries and employee benefits
  • $38Premises and equipment expense
  • $100Additional noninterest expense
  • $228Pre-tax net operating income
  • $0Securities gains (losses)
  • $78Applicable income taxes
  • $150Income before extraordinary items
  • $0Extraordinary gains - net
  • $150Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $22Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.50%Yield on earning assets
  • 1.10%Cost of funding earning assets
  • 4.41%Net interest margin
  • 0.46%Noninterest income to earning assets
  • 2.79%Noninterest expense to earning assets
  • 1.05%Net operating income to assets
  • 1.05%Return on assets (ROA)
  • 1.59%Pretax return on assets
  • 8.64%Return on equity (ROE)
  • 8.64%Retained earnings to average equity (YTD only)
  • 0.21%Net charge-offs to loans
  • 177.27%Credit loss provision to net charge-offs
  • 12.14%Efficiency ratio
  • 57,348Assets per employee
  • 1.70%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.28%Loss allowance to noncurrent loans
  • 191.46%Noncurrent assets plus other real estate owned to assets
  • 0.54%Noncurrent loans to loans
  • 0.67%Net loans and leases to deposits
  • 95.83%Net loans and leases to core deposits
  • 108.31%Equity capital to assets
  • 13.55%Core capital (leverage) ratio
  • 11.80%Tier 1 risk-based capital ratio
  • 15.29%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $14,350Average earning assets
  • $1,736Average equity
  • $12,865Average loans

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