First State Bank of Sinai in Sinai, South Dakota (SD)



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First State Bank of Sinai
GeneralFDIC Certificate #: 498
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Citizens State Bank, of Arlington (#1118)
Federal Reserve ID: 324751
Date Established: January 01, 1907
WWW: http://www.siteit.comsinaibank/
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 359
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: November 01, 2003
Last Structure Change Process Date: December 23, 2003
Last Data Update: December 23, 2003
Data Source Date: April 05, 2012
LocationAddress: Main Street, Sinai, SD 57061
County: Brookings
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Brookings, SD (#15100)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $19.6 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, 2002)
(Dollar figures in thousands)
Total employees (full-time equivalent)5
Total assets$17,979
Cash and due from depository institutions$1,528
Interest-bearing balances$588
Securities$864
Federal funds sold & reverse repurchase agreements$915
Net loans & leases$14,048
Loan loss allowance $187
Trading account assets$0
Bank premises and fixed assets$155
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$469
Life insurance assets$0
Total liabilities and capital$17,979
Total liabilities$15,297
Total deposits$15,122
Interest-bearing deposits$13,647
Deposits held in domestic offices$15,122
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $175
Total equity capital$2,682
Total bank equity capital$2,682
Perpetual preferred stock$2,682
Common stock$0
Surplus$25
Undivided profits $500
Memoranda
Noncurrent loans and leases $2,157
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,367
Income earned, not collected on loans $0
Earning assets $60
Long-term assets (5+ years) $0
Average Assets, year-to-date $378
Average Assets, quarterly $16,415
Volatile liabilities $225
Insider loans $17,466
FHLB advances $17,599
Loans and leases held for sale $2,156
Unused loan commitments $308
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $3,367
Restructured Loans and leases $0
Derivatives$182
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Income and Expense (December 31, 2002)
(Dollar figures in thousands)
Total interest income $1,135
Total interest expense $463
Net interest income $672
Provision for loan and lease losses $10
Total noninterest income $108
Fiduciary activities $0
Service charges on deposit accounts $50
Trading account gains & fees $0
Additional noninterest income $58
Total noninterest expense $486
Salaries and employee benefits $308
Premises and equipment expense $36
Additional noninterest expense $142
Pre-tax net operating income $284
Securities gains (losses) $0
Applicable income taxes $94
Income before extraordinary items $190
Extraordinary gains - net $0
Net income attributable to bank $190
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $11
Net operating income $25
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Performance and Condition Ratios (December 31, 2002)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.00%
Cost of funding earning assets 2.86%
Net interest margin 4.14%
Noninterest income to earning assets 0.67%
Noninterest expense to earning assets 3.00%
Net operating income to assets 1.09%
Return on assets (ROA) 1.09%
Pretax return on assets 1.63%
Return on equity (ROE) 7.32%
Retained earnings to average equity (YTD only) 6.36%
Net charge-offs to loans 0.08%
Credit loss provision to net charge-offs 90.91%
Efficiency ratio26.73%
Assets per employee$62,308
Cash dividends to net income (YTD only)3.60%
Condition Ratios (%)
Loss allowance to loans 13.16%
Loss allowance to noncurrent loans 1.31%
Noncurrent assets plus other real estate owned to assets 311.67%
Noncurrent loans to loans 0.33%
Net loans and leases to deposits0.42%
Net loans and leases to core deposits 92.90%
Equity capital to assets 108.34%
Core capital (leverage) ratio 14.92%
Tier 1 risk-based capital ratio 14.39%
Total risk-based capital ratio 18.43%
Memoranda
Average assets$20
Average earning assets$17,466
Average equity $2,595
Average loans $16,213
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