First State Bank of Middlebury in Middlebury, Indiana (IN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First State Bank of Middlebury in Middlebury, Indiana (IN)
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First State Bank of Middlebury - Overview

  • General
  • FDIC Certificate #: 8745
    Status: Active
    Federal Reserve ID: 967046
    Bank Holding Company (Regulatory Top Holder): Crystal Valley Financial Corporation (RSSDID: 1210244, Location: Middlebury, IN)
    Date Established: January 01, 1910
    WWW: http://www.fsbmiddlebury.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 11002
    FDIC's unique #: 5567
    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: No
    Asset Concentration Hierarchy: Commercial 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: 111 South Main Street, Middlebury, IN 46540
    County: Elkhart
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Indianapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Elkhart-Goshen, IN (#2330)
    Combined Statistical Area (CSA): South Bend-Elkhart-Mishawaka, IN-MI (#515)
    Core Based Statistical Area (CBSA): Elkhart-Goshen, IN (#21140)
    CBSA Metro Statistical Area: Elkhart-Goshen, IN (#21140)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $384.1 mil
    Equity capital: $38.0 mil
    Deposits held in domestic offices: $312.3 mil
    Return on assets (ROA): 0.64% ($2.5 mil)
    Quarterly return on assets: 0.85% ($3.3 mil)
    Return on Equity (ROE): 6.87% ($2.6 mil)
    Quarterly return on equity: 8.66% ($3.3 mil)
    Net income: $2.5 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 0.77% ($2,957.3 mil)
    Quarterly Pretax return on assets: 1.10% ($4,224.7 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
  • 104Total employees (full-time equivalent)
  • $384,064Total assets
  • $23,381Cash and due from depository institutions
  • $14,258Interest-bearing balances
  • $67,857Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $270,743Net loans & leases
  • $6,460Loan loss allowance
  • $0Trading account assets
  • $3,871Bank premises and fixed assets
  • $2,021Other real estate owned
  • $145Goodwill and other intangibles
  • $384,064Life insurance assets
  • $16,046All other assets
  • $346,044Total liabilities and capital
  • $312,349Total liabilities
  • $259,529Total deposits
  • $312,349Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 7825.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $22,531Trading liabilities
  • $0Other borrowed funds
  • $3,339Subordinated debt
  • $38,020All other liabilities
  • $38,020Total equity capital
  • $38,020Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $10,547Surplus
  • $27,373Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $280Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,720Income earned, not collected on loans
  • $0Earning assets
  • $1,338Long-term assets (5+ years)
  • $352,858Average Assets, year-to-date
  • $74,818Average Assets, quarterly
  • $388,108Volatile liabilities
  • $385,990Insider loans
  • $280,354FHLB advances
  • $380,350Loans and leases held for sale
  • $7,849Unused loan commitments
  • $7,849Tier 1 (core) risk-based capital
  • $36,337Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $52,776Restructured Loans and leases
  • $1,903Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $18,149Total interest income
  • $4,453Total interest expense
  • $13,696Net interest income
  • $2,107Provision for loan and lease losses
  • $2,669Total noninterest income
  • $347Fiduciary activities
  • $765Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,557Additional noninterest income
  • $11,557Total noninterest expense
  • $6,070Salaries and employee benefits
  • $1,589Premises and equipment expense
  • $3,898Additional noninterest expense
  • $2,701Pre-tax net operating income
  • $302Securities gains (losses)
  • $500Applicable income taxes
  • $2,503Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,503Net income attributable to bank
  • $0Net charge-offs
  • $2,503Cash dividends
  • $2,115Sale, conversion, retirement of capital stock, net
  • $1,350Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.05%Yield on earning assets
  • 1.24%Cost of funding earning assets
  • 3.81%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 3.22%Noninterest expense to earning assets
  • 0.58%Net operating income to assets
  • 0.64%Return on assets (ROA)
  • 0.77%Pretax return on assets
  • 6.87%Return on equity (ROE)
  • 3.17%Retained earnings to average equity (YTD only)
  • 0.75%Net charge-offs to loans
  • 99.62%Credit loss provision to net charge-offs
  • 2.27%Efficiency ratio
  • 70,620Assets per employee
  • 3.69%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 53.94%Loss allowance to loans
  • 2.33%Loss allowance to noncurrent loans
  • 74.08%Noncurrent assets plus other real estate owned to assets
  • 2.80%Noncurrent loans to loans
  • 3.15%Net loans and leases to deposits
  • 86.68%Net loans and leases to core deposits
  • 91.36%Equity capital to assets
  • 9.90%Core capital (leverage) ratio
  • 9.55%Tier 1 risk-based capital ratio
  • 12.96%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $388,108Average earning assets
  • $36,424Average equity
  • $359,082Average 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
  • $56,498Managed Assets
  • 1Number of Accounts
  • $14,055Personal trust and agency accounts
  • $14,055Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 317Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $42,443Other retirement accounts
  • $10,336Corporate trust and agency accounts
  • $3,455Other fiduciary accounts
  • $11,028Fiduciary accounts held in foreign offices

List of branches

  • 6 Indiana Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05567First State Bank Of Middlebury111 South Main Street, Middlebury, IN 46540January 01, 1910Full Service Brick and Mortar
    1218896Goshen Branch201 North Main Street, Goshen, IN 46526August 22, 1988Full Service Brick and Mortar
    2218897Greencroft Branch1820 Greencroft Boulevard, Goshen, IN 46526December 15, 1997Full Service Brick and Mortar
    3218898Cobblestone Crossing Branch1515 Cobblestone Boulevlard, Elkhart, IN 46516January 06, 2000Full Service Brick and Mortar
    4439702Riverwalk Branch200 Nibco Parkway, Elkhart, IN 46516April 04, 2005Full Service Brick and Mortar
    5458377Mishawaka Branch4101 Edison Lakes Parkway, Suite 140, Mishawaka, IN 46545Febuary 01, 2007Full Service Brick and Mortar

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