Flagship Bank Winsted in Winsted, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Flagship Bank Winsted - Overview

  • General
  • FDIC Certificate #: 10170
    Status: Active
    Federal Reserve ID: 810151
    Bank Holding Company (Regulatory Top Holder): Flagship Financial Group, Inc. (RSSDID: 1128675, Location: Eden Prairie, MN)
    Date Established: April 02, 1932
    WWW: http://www.flagshipbanks.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 10770
    FDIC's unique #: 6511
    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: December 01, 2006
    Last Structure Change Process Date: March 06, 2007
    Last Data Update: March 06, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 110 First Street, North, Winsted, MN 55395
    County: Mcleod
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Hutchinson, MN (#26780)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $39.4 mil
    Equity capital: $4.0 mil
    Deposits held in domestic offices: $34.8 mil
    Return on assets (ROA): -0.16% (-$0.1 mil)
    Quarterly return on assets: -0.44% (-$0.2 mil)
    Return on Equity (ROE): -1.58% (-$0.1 mil)
    Quarterly return on equity: -4.26% (-$0.2 mil)
    Net income: -$0.1 mil
    Quarterly Net income: -$0.0 mil
    Pretax return on assets: -0.25% (-$98.5 mil)
    Quarterly Pretax return on assets: -0.69% (-$272.0 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
  • 16Total employees (full-time equivalent)
  • $39,420Total assets
  • $11,939Cash and due from depository institutions
  • $9,741Interest-bearing balances
  • $1,445Securities
  • $270Federal funds sold & reverse repurchase agreements
  • $20,916Net loans & leases
  • $535Loan loss allowance
  • $0Trading account assets
  • $919Bank premises and fixed assets
  • $1,140Other real estate owned
  • $564Goodwill and other intangibles
  • $39,420Life insurance assets
  • $2,227All other assets
  • $35,400Total liabilities and capital
  • $34,753Total liabilities
  • $27,034Total deposits
  • $34,753Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $647Subordinated debt
  • $4,020All other liabilities
  • $4,020Total equity capital
  • $4,020Total bank equity capital
  • $0Perpetual preferred stock
  • $60Common stock
  • $3,501Surplus
  • $459Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $809Income earned, not collected on loans
  • $0Earning assets
  • $163Long-term assets (5+ years)
  • $32,372Average Assets, year-to-date
  • $1,703Average Assets, quarterly
  • $40,735Volatile liabilities
  • $39,462Insider loans
  • $24,250FHLB advances
  • $38,682Loans and leases held for sale
  • $1,370Unused loan commitments
  • $1,370Tier 1 (core) risk-based capital
  • $3,208Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,186Restructured Loans and leases
  • $1,069Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,655Total interest income
  • $278Total interest expense
  • $1,377Net interest income
  • $440Provision for loan and lease losses
  • $1,105Total noninterest income
  • $0Fiduciary activities
  • $195Service charges on deposit accounts
  • $0Trading account gains & fees
  • $910Additional noninterest income
  • $2,172Total noninterest expense
  • $1,196Salaries and employee benefits
  • $199Premises and equipment expense
  • $777Additional noninterest expense
  • -$130Pre-tax net operating income
  • $28Securities gains (losses)
  • -$38Applicable income taxes
  • -$64Income before extraordinary items
  • $0Extraordinary gains - net
  • -$64Net income attributable to bank
  • $0Net charge-offs
  • -$64Cash dividends
  • $553Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.91%Yield on earning assets
  • 0.82%Cost of funding earning assets
  • 4.08%Net interest margin
  • 3.28%Noninterest income to earning assets
  • 6.44%Noninterest expense to earning assets
  • -0.20%Net operating income to assets
  • -0.16%Return on assets (ROA)
  • -0.25%Pretax return on assets
  • -1.58%Return on equity (ROE)
  • -1.58%Retained earnings to average equity (YTD only)
  • 2.31%Net charge-offs to loans
  • 79.57%Credit loss provision to net charge-offs
  • 0.56%Efficiency ratio
  • 86,060Assets per employee
  • 2.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.49%Loss allowance to noncurrent loans
  • 66.13%Noncurrent assets plus other real estate owned to assets
  • 4.94%Noncurrent loans to loans
  • 3.77%Net loans and leases to deposits
  • 60.18%Net loans and leases to core deposits
  • 60.18%Equity capital to assets
  • 10.20%Core capital (leverage) ratio
  • 8.29%Tier 1 risk-based capital ratio
  • 13.23%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $40,735Average earning assets
  • $4,057Average equity
  • $33,736Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06511Flagship Bank Winsted110 First Street, North, Winsted, MN 55395April 02, 1932Full Service Brick and Mortar

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