First United Bank in Park River, North Dakota (ND)



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First United Bank
GeneralFDIC Certificate #: 15472
Status: Active
Federal Reserve ID: 1011955
Bank Holding Company (Regulatory Top Holder): First Holding Company Of Park River, Inc (RSSDID: 1140266, Location: Park River, ND)
Date Established: January 01, 1886
WWW: http://www.firstunitedonline.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
FDIC's unique #: 9778
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
LocationAddress: 503 Briggs Avenue South, Park River, ND 58270
County: Walsh
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
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $148.3 mil
Equity capital: $11.9 mil
Deposits held in domestic offices: $128.6 mil
Return on assets (ROA): 1.39% ($2.1 mil)
Quarterly return on assets: 1.37% ($2.0 mil)
Return on Equity (ROE): 16.89% ($2.0 mil)
Quarterly return on equity: 16.76% ($2.0 mil)
Net income: $1.9 mil
Quarterly Net income: $0.5 mil
Pretax return on assets: 1.49% ($2,209.8 mil)
Quarterly Pretax return on assets: 1.45% ($2,150.5 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)
Total employees (full-time equivalent)34
Total assets$148,310
Cash and due from depository institutions$8,175
Interest-bearing balances$2,898
Securities$28,845
Federal funds sold & reverse repurchase agreements$3,800
Net loans & leases$101,128
Loan loss allowance $1,457
Trading account assets$0
Bank premises and fixed assets$2,028
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$4,334
Life insurance assets$148,310
Total liabilities and capital$136,367
Total liabilities$128,579
Total deposits$101,450
Interest-bearing deposits$128,579
Deposits held in domestic offices$89
% insured (estimated)5040.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$2,000
Other borrowed funds $0
Subordinated debt $748
All other liabilities $11,943
Total equity capital$11,943
Total bank equity capital$11,943
Perpetual preferred stock$0
Common stock$600
Surplus$5,050
Undivided profits $6,293
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $231
Income earned, not collected on loans $1,053
Earning assets $58
Long-term assets (5+ years) $1,652
Average Assets, year-to-date $136,671
Average Assets, quarterly $23,164
Volatile liabilities $137,939
Insider loans $144,441
FHLB advances $111,607
Loans and leases held for sale $144,792
Unused loan commitments $1,865
Tier 1 (core) risk-based capital $1,865
Tier 2 risk-based capital $11,585
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $33,271
Derivatives$847
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,432
Total interest expense $1,105
Net interest income $5,327
Provision for loan and lease losses $220
Total noninterest income $570
Fiduciary activities $0
Service charges on deposit accounts $294
Trading account gains & fees $0
Additional noninterest income $276
Total noninterest expense $3,622
Salaries and employee benefits $2,090
Premises and equipment expense $472
Additional noninterest expense $1,060
Pre-tax net operating income $2,055
Securities gains (losses) $0
Applicable income taxes $134
Income before extraordinary items $1,921
Extraordinary gains - net $0
Net income attributable to bank $1,921
Net charge-offs $0
Cash dividends $1,921
Sale, conversion, retirement of capital stock, net $130
Net operating income $1,300
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.03%
Cost of funding earning assets 0.86%
Net interest margin 4.17%
Noninterest income to earning assets 0.45%
Noninterest expense to earning assets 2.83%
Net operating income to assets 1.39%
Return on assets (ROA) 1.39%
Pretax return on assets 1.49%
Return on equity (ROE) 16.89%
Retained earnings to average equity (YTD only) 5.46%
Net charge-offs to loans 0.13%
Credit loss provision to net charge-offs 169.23%
Efficiency ratio17.50%
Assets per employee$61,421
Cash dividends to net income (YTD only)4.36%
Condition Ratios (%)
Loss allowance to loans 67.67%
Loss allowance to noncurrent loans 1.42%
Noncurrent assets plus other real estate owned to assets 138.37%
Noncurrent loans to loans 0.71%
Net loans and leases to deposits1.03%
Net loans and leases to core deposits 78.65%
Equity capital to assets 81.45%
Core capital (leverage) ratio 8.05%
Tier 1 risk-based capital ratio 8.00%
Total risk-based capital ratio 10.38%
Memoranda
Average assets$12
Average earning assets$137,939
Average equity $11,374
Average loans $127,782
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6 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09778First United Bank503 Briggs Avenue South, Park River, ND 58270January 01, 1886Full Service Brick and Mortar
26560Adams BranchMain Street, Adams, ND 58210January 01, 1905Full Service Brick and Mortar
36568Lamb's BranchMain Street, Michigan, ND 58259January 02, 1900Full Service Brick and Mortar
4234046Grafton Branch1011 West 11th Street, Grafton, ND 58237September 01, 1998Full Service Brick and Mortar
6516194First United Bank Hoople Branch234 2nd Street, Hoople, ND 58243January 10, 2011Full Service Brick and Mortar
7522234First United Bank600 North 6th Street, Crystal, ND 58222July 20, 2011Full Service Brick and Mortar
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