First Western Bank & Trust in Minot, North Dakota (ND), MN

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First Western Bank & Trust
GeneralFDIC Certificate #: 19123
Status: Active
Federal Reserve ID: 687951
Bank Holding Company (Regulatory Top Holder): Westbrand, Inc. (RSSDID: 1127650, Location: Minot, ND)
Date Established: May 11, 1964
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Domestic: 4, Interstate: Yes)
FDIC's unique #: 12955
Numeric code: 13
Regulator: FED
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: May 11, 1964
Last Structure Change Effective Date: August 06, 2011
Last Structure Change Process Date: August 18, 2011
Last Data Update: August 18, 2011
Data Source Date: April 05, 2012
LocationAddress: 900 South Broadway, Minot, ND 58701
County: Ward
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
Core Based Statistical Area (CBSA): Minot, ND (#33500)
CBSA Micro Statistical Area: Yes
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $707.7 mil
Equity capital: $69.4 mil
Deposits held in domestic offices: $579.5 mil
Return on assets (ROA): 0.77% ($5.5 mil)
Quarterly return on assets: 0.72% ($5.1 mil)
Return on Equity (ROE): 7.72% ($5.3 mil)
Quarterly return on equity: 7.18% ($5.0 mil)
Net income: $5.2 mil
Quarterly Net income: $1.2 mil
Pretax return on assets: 1.06% ($7,502.1 mil)
Quarterly Pretax return on assets: 1.01% ($7,148.2 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)115
Total assets$707,745
Cash and due from depository institutions$72,895
Interest-bearing balances$44,802
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$343,525
Loan loss allowance $4,700
Trading account assets$0
Bank premises and fixed assets$3,121
Other real estate owned$1,773
Goodwill and other intangibles$6,422
All other assets$17,824
Life insurance assets$707,745
Total liabilities and capital$638,364
Total liabilities$579,481
Total deposits$461,829
Interest-bearing deposits$579,481
Deposits held in domestic offices$81
% insured (estimated)37685.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$16,000
Other borrowed funds $0
Subordinated debt $5,198
All other liabilities $69,381
Total equity capital$69,381
Total bank equity capital$69,381
Perpetual preferred stock$0
Common stock$1,600
Undivided profits $39,381
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $168
Income earned, not collected on loans $3,048
Earning assets $0
Long-term assets (5+ years) $2,868
Average Assets, year-to-date $650,512
Average Assets, quarterly $204,377
Volatile liabilities $674,890
Insider loans $687,277
FHLB advances $440,137
Loans and leases held for sale $668,744
Unused loan commitments $8,561
Tier 1 (core) risk-based capital $3,346
Tier 2 risk-based capital $61,831
Total risk weighted assets $0
Total unused commitments $5,215
Restructured Loans and leases $79,331
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $27,964
Total interest expense $7,048
Net interest income $20,916
Provision for loan and lease losses $2,530
Total noninterest income $3,290
Fiduciary activities $1,149
Service charges on deposit accounts $404
Trading account gains & fees $0
Additional noninterest income $1,737
Total noninterest expense $13,790
Salaries and employee benefits $8,804
Premises and equipment expense $1,059
Additional noninterest expense $3,927
Pre-tax net operating income $7,886
Securities gains (losses) -$709
Applicable income taxes $1,997
Income before extraordinary items $5,180
Extraordinary gains - net $0
Net income attributable to bank $5,180
Net charge-offs $0
Cash dividends $5,180
Sale, conversion, retirement of capital stock, net $1,603
Net operating income $2,167
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.46%
Cost of funding earning assets 1.12%
Net interest margin 3.34%
Noninterest income to earning assets 0.52%
Noninterest expense to earning assets 2.20%
Net operating income to assets 0.84%
Return on assets (ROA) 0.77%
Pretax return on assets 1.06%
Return on equity (ROE) 7.72%
Retained earnings to average equity (YTD only) 4.49%
Net charge-offs to loans 0.49%
Credit loss provision to net charge-offs 157.83%
Efficiency ratio6.50%
Assets per employee$56,940
Cash dividends to net income (YTD only)6.15%
Condition Ratios (%)
Loss allowance to loans 41.83%
Loss allowance to noncurrent loans 1.35%
Noncurrent assets plus other real estate owned to assets 154.20%
Noncurrent loans to loans 0.90%
Net loans and leases to deposits0.88%
Net loans and leases to core deposits 59.28%
Equity capital to assets 61.56%
Core capital (leverage) ratio 9.80%
Tier 1 risk-based capital ratio 9.25%
Total risk-based capital ratio 14.05%
Average assets$15
Average earning assets$674,890
Average equity $67,102
Average loans $626,811
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$232,735
Number of Accounts1
Personal trust and agency accounts$119,258
Employee benefit-defined contribution accounts$51,453
Employee benefit-defined benefit accounts$13,523
Other retirement accounts$8,118
Corporate trust and agency accounts$15,161
Investment management agency accounts$0
Other fiduciary accounts$17,407
Fiduciary accounts held in foreign offices$13,596
Non-managed Assets$0
Number of Accounts2970
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$14,368
Employee benefit-defined benefit accounts$0
Other retirement accounts$113,477
Corporate trust and agency accounts$7,660
Other fiduciary accounts$31,041
Fiduciary accounts held in foreign offices$74,768
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
3444614Eden Prairie Branch100 Prairie Center Drive, Eden Prairie, MN 55344April 19, 2006Full Service Brick and Mortar
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3 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
012955First Western Bank & Trust900 South Broadway, Minot, ND 58701May 11, 1964Full Service Brick and Mortar
1247346Paying And Receiving BranchMain Street, Glenburn, ND 58740June 16, 1964Full Service Brick and Mortar
2247347Detached Facility2200 15th St. Sw, Minot, ND 58701December 03, 1980Full Service Brick and Mortar
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