Flagship Bank Minnesota in Wayzata, Minnesota (MN)
| Flagship Bank Minnesota | |
|---|---|
| General | FDIC Certificate #: 8188 Status: Active Federal Reserve ID: 83151 Bank Holding Company (Regulatory Top Holder): Flagship Financial Group, Inc. (RSSDID: 1128675, Location: Eden Prairie, MN) Date Established: January 01, 1875 WWW: http://www.flagshipbanks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 5214 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: October 16, 2006 Last Structure Change Process Date: November 30, 2006 Last Data Update: November 30, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 445 East Lake Street, Wayzata, MN 55391 County: Hennepin Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460) |
| History of Changes | Office Sold Name Change |
| Financial Summary | Total assets: $108.9 mil Equity capital: $8.1 mil Deposits held in domestic offices: $93.1 mil Return on assets (ROA): -1.06% (-$1.2 mil) Quarterly return on assets: -2.57% (-$2.8 mil) Return on Equity (ROE): -14.21% (-$1.1 mil) Quarterly return on equity: -34.86% (-$2.8 mil) Net income: -$1.3 mil Quarterly Net income: -$0.7 mil Pretax return on assets: -1.81% (-$1,971.3 mil) Quarterly Pretax return on assets: -3.97% (-$4,323.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 19 |
| Total assets | $108,910 |
| Cash and due from depository institutions | $9,622 |
| Interest-bearing balances | $8,477 |
| Securities | $12,968 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $73,917 |
| Loan loss allowance | $1,680 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,805 |
| Other real estate owned | $2,830 |
| Goodwill and other intangibles | $0 |
| All other assets | $7,768 |
| Life insurance assets | $108,910 |
| Total liabilities and capital | $100,795 |
| Total liabilities | $93,116 |
| Total deposits | $77,946 |
| Interest-bearing deposits | $93,116 |
| Deposits held in domestic offices | $85 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $6,200 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,479 |
| All other liabilities | $8,115 |
| Total equity capital | $8,115 |
| Total bank equity capital | $8,115 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $10,900 |
| Undivided profits | $-2,885 |
| 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 | $3,100 |
| Earning assets | $44 |
| Long-term assets (5+ years) | $363 |
| Average Assets, year-to-date | $95,362 |
| Average Assets, quarterly | $26,598 |
| Volatile liabilities | $120,626 |
| Insider loans | $114,982 |
| FHLB advances | $80,835 |
| Loans and leases held for sale | $111,192 |
| Unused loan commitments | $2,254 |
| Tier 1 (core) risk-based capital | $2,254 |
| Tier 2 risk-based capital | $4,271 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $6,165 |
| Derivatives | $1,071 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,367 |
| Total interest expense | $1,707 |
| Net interest income | $3,660 |
| Provision for loan and lease losses | $1,972 |
| Total noninterest income | $505 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $229 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $276 |
| Total noninterest expense | $4,381 |
| Salaries and employee benefits | $1,708 |
| Premises and equipment expense | $747 |
| Additional noninterest expense | $1,926 |
| Pre-tax net operating income | -$2,188 |
| Securities gains (losses) | -$1 |
| Applicable income taxes | -$916 |
| Income before extraordinary items | -$1,273 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | -$1,273 |
| Net charge-offs | $0 |
| Cash dividends | -$1,273 |
| Sale, conversion, retirement of capital stock, net | $3,712 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.93% |
| Cost of funding earning assets | 1.57% |
| Net interest margin | 3.36% |
| Noninterest income to earning assets | 0.46% |
| Noninterest expense to earning assets | 4.02% |
| Net operating income to assets | -1.05% |
| Return on assets (ROA) | -1.06% |
| Pretax return on assets | -1.81% |
| Return on equity (ROE) | -14.21% |
| Retained earnings to average equity (YTD only) | -14.21% |
| Net charge-offs to loans | 4.29% |
| Credit loss provision to net charge-offs | 53.13% |
| Efficiency ratio | -0.06% |
| Assets per employee | $105,186 |
| Cash dividends to net income (YTD only) | 5.73% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.22% |
| Noncurrent assets plus other real estate owned to assets | 54.19% |
| Noncurrent loans to loans | 5.44% |
| Net loans and leases to deposits | 4.10% |
| Net loans and leases to core deposits | 79.38% |
| Equity capital to assets | 97.90% |
| Core capital (leverage) ratio | 7.45% |
| Tier 1 risk-based capital ratio | 3.84% |
| Total risk-based capital ratio | 5.28% |
| Memoranda | |
| Average assets | $7 |
| Average earning assets | $120,626 |
| Average equity | $8,962 |
| Average loans | $108,920 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5214 | Flagship Bank Minnesota | 445 East Lake Street, Wayzata, MN 55391 | January 01, 1875 | Full Service Brick and Mortar |  |
| 7 | 365769 | Eden Prairie Branch | 7525 Office Ridge Circle, Eden Prairie, MN 55344 | January 02, 2003 | Full Service Brick and Mortar |  |
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