First State Bank of Grove City in Grove City, Minnesota (MN)
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| First State Bank of Grove City | |
|---|---|
| General | FDIC Certificate #: 8857 Status: Active Federal Reserve ID: 79257 Date Established: December 07, 1907 WWW: http://www.bankofgrovecity.com 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 #: 5652 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: 110 Atlantic Avenue West, Grove City, MN 56243 County: Meeker Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $21.5 mil Equity capital: $4.3 mil Deposits held in domestic offices: $17.2 mil Return on assets (ROA): 1.60% ($0.4 mil) Quarterly return on assets: 0.68% ($0.1 mil) Return on Equity (ROE): 8.49% ($0.3 mil) Quarterly return on equity: 3.45% ($0.1 mil) Net income: $0.4 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.60% ($344.6 mil) Quarterly Pretax return on assets: 0.68% ($146.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 7 |
| Total assets | $21,539 |
| Cash and due from depository institutions | $5,752 |
| Interest-bearing balances | $4,584 |
| Securities | $1,259 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $14,099 |
| Loan loss allowance | $322 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $132 |
| Other real estate owned | $38 |
| Goodwill and other intangibles | $0 |
| All other assets | $259 |
| Life insurance assets | $21,539 |
| Total liabilities and capital | $17,243 |
| Total liabilities | $17,205 |
| Total deposits | $13,526 |
| Interest-bearing deposits | $17,205 |
| Deposits held in domestic offices | $94 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $38 |
| All other liabilities | $4,296 |
| Total equity capital | $4,296 |
| Total bank equity capital | $4,296 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $2,200 |
| Undivided profits | $2,046 |
| 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 | $359 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $150 |
| Average Assets, year-to-date | $19,942 |
| Average Assets, quarterly | $696 |
| Volatile liabilities | $22,349 |
| Insider loans | $21,798 |
| FHLB advances | $14,215 |
| Loans and leases held for sale | $22,141 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $4,262 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,686 |
| Derivatives | $115 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,139 |
| Total interest expense | $209 |
| Net interest income | $930 |
| Provision for loan and lease losses | $133 |
| Total noninterest income | $144 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $107 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $37 |
| Total noninterest expense | $583 |
| Salaries and employee benefits | $364 |
| Premises and equipment expense | $82 |
| Additional noninterest expense | $137 |
| Pre-tax net operating income | $358 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $358 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $358 |
| Net charge-offs | $0 |
| Cash dividends | $358 |
| Sale, conversion, retirement of capital stock, net | $55 |
| Net operating income | $129 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.45% |
| Cost of funding earning assets | 1.00% |
| Net interest margin | 4.45% |
| Noninterest income to earning assets | 0.69% |
| Noninterest expense to earning assets | 2.79% |
| Net operating income to assets | 1.60% |
| Return on assets (ROA) | 1.60% |
| Pretax return on assets | 1.60% |
| Return on equity (ROE) | 8.49% |
| Retained earnings to average equity (YTD only) | 5.43% |
| Net charge-offs to loans | 0.38% |
| Credit loss provision to net charge-offs | 241.82% |
| Efficiency ratio | 8.93% |
| Assets per employee | $54,283 |
| Cash dividends to net income (YTD only) | 3.08% |
| Condition Ratios (%) | |
| Loss allowance to loans | 36.03% |
| Loss allowance to noncurrent loans | 2.23% |
| Noncurrent assets plus other real estate owned to assets | 89.69% |
| Noncurrent loans to loans | 1.84% |
| Net loans and leases to deposits | 2.49% |
| Net loans and leases to core deposits | 81.95% |
| Equity capital to assets | 86.24% |
| Core capital (leverage) ratio | 19.95% |
| Tier 1 risk-based capital ratio | 19.25% |
| Total risk-based capital ratio | 29.98% |
| Memoranda | |
| Average assets | $31 |
| Average earning assets | $22,349 |
| Average equity | $4,215 |
| Average loans | $20,886 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5652 | First State Bank Of Grove City | 110 Atlantic Avenue West, Grove City, MN 56243 | December 07, 1907 | Full Service Brick and Mortar |  |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.