Fort Morgan State Bank in Fort Morgan, Colorado (CO)



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Fort Morgan State Bank
GeneralFDIC Certificate #: 23764
Status: Active
Federal Reserve ID: 257756
Bank Holding Company (Regulatory Top Holder): Morgan Capital Corporation (RSSDID: 1066049, Location: Fort Morgan, CO)
Date Established: April 12, 1982
WWW: http://www.fmsbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 16615
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: April 12, 1982
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: 520 Sherman Street, Fort Morgan, CO 80701
County: Morgan
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Denver
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Fort Morgan, CO (#22820)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $101.3 mil
Equity capital: $12.3 mil
Deposits held in domestic offices: $76.2 mil
Return on assets (ROA): 1.42% ($1.4 mil)
Quarterly return on assets: 1.95% ($2.0 mil)
Return on Equity (ROE): 14.07% ($1.7 mil)
Quarterly return on equity: 16.53% ($2.0 mil)
Net income: $1.3 mil
Quarterly Net income: $0.5 mil
Pretax return on assets: 1.42% ($1,438.0 mil)
Quarterly Pretax return on assets: 1.95% ($1,974.7 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$101,269
Cash and due from depository institutions$4,780
Interest-bearing balances$1,036
Securities$20,927
Federal funds sold & reverse repurchase agreements$1,250
Net loans & leases$69,003
Loan loss allowance $1,368
Trading account assets$0
Bank premises and fixed assets$1,164
Other real estate owned$496
Goodwill and other intangibles$0
All other assets$3,649
Life insurance assets$101,269
Total liabilities and capital$88,999
Total liabilities$76,194
Total deposits$59,716
Interest-bearing deposits$76,194
Deposits held in domestic offices$90
% insured (estimated)4879.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$7,603
Other borrowed funds $0
Subordinated debt $323
All other liabilities $12,270
Total equity capital$12,270
Total bank equity capital$12,270
Perpetual preferred stock$0
Common stock$400
Surplus$5,583
Undivided profits $6,287
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 $443
Earning assets $0
Long-term assets (5+ years) $526
Average Assets, year-to-date $92,216
Average Assets, quarterly $38,498
Volatile liabilities $92,462
Insider loans $100,566
FHLB advances $76,099
Loans and leases held for sale $99,894
Unused loan commitments $731
Tier 1 (core) risk-based capital $731
Tier 2 risk-based capital $11,895
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,356
Derivatives$1,341
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,972
Total interest expense $944
Net interest income $4,028
Provision for loan and lease losses $345
Total noninterest income $937
Fiduciary activities $0
Service charges on deposit accounts $276
Trading account gains & fees $0
Additional noninterest income $661
Total noninterest expense $3,325
Salaries and employee benefits $1,953
Premises and equipment expense $272
Additional noninterest expense $1,100
Pre-tax net operating income $1,295
Securities gains (losses) $20
Applicable income taxes $0
Income before extraordinary items $1,315
Extraordinary gains - net $0
Net income attributable to bank $1,315
Net charge-offs $0
Cash dividends $1,315
Sale, conversion, retirement of capital stock, net $81
Net operating income $435
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.91%
Cost of funding earning assets 1.12%
Net interest margin 4.79%
Noninterest income to earning assets 1.11%
Noninterest expense to earning assets 3.95%
Net operating income to assets 1.40%
Return on assets (ROA) 1.42%
Pretax return on assets 1.42%
Return on equity (ROE) 14.07%
Retained earnings to average equity (YTD only) 9.41%
Net charge-offs to loans 0.12%
Credit loss provision to net charge-offs 425.93%
Efficiency ratio20.25%
Assets per employee$66,969
Cash dividends to net income (YTD only)2.98%
Condition Ratios (%)
Loss allowance to loans 33.08%
Loss allowance to noncurrent loans 1.94%
Noncurrent assets plus other real estate owned to assets 308.80%
Noncurrent loans to loans 0.93%
Net loans and leases to deposits0.63%
Net loans and leases to core deposits 90.56%
Equity capital to assets 106.93%
Core capital (leverage) ratio 12.12%
Tier 1 risk-based capital ratio 11.91%
Total risk-based capital ratio 15.63%
Memoranda
Average assets$17
Average earning assets$92,462
Average equity $9,348
Average loans $84,162
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4 Colorado Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016615Fort Morgan State Bank520 Sherman Street, Fort Morgan, CO 80701April 12, 1982Full Service Brick and Mortar
1455846Limited Service - Messenger520 Sherman St., Fort Morgan, CO 80701January 01, 2006Limited Service Messenger
2463539Fort Morgan State Bank1505 E. Burlington Ave., Fort Morgan, CO 80701June 05, 2007
3522322Fms Bank1919 65th Avenue, Suite 1, Greeley, CO 80634August 15, 2011Full Service Retail
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