FDIC Certificate #: 12188 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:Eastwood Bank (#8208) Federal Reserve ID: 981855 Date Established: January 13, 1903 WWW:http://www.fortressbankmn.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 10806 FDIC's unique #: 7740 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: June 08, 2007 Last Structure Change Process Date: July 24, 2007 Last Data Update: July 24, 2007 Data Source Date: April 05, 2012
Location
Address: 108 Cedar Street, East, Houston, MN 55943 County: Houston 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): La Crosse, WI-MN (#3870) Core Based Statistical Area (CBSA): La Crosse, WI-MN (#29100) CBSA Metro Statistical Area: La Crosse, WI-MN (#29100)
Financial Summary
Total assets: $56.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
Dollar figures in thousands
26Total employees (full-time equivalent)
$56,384Total assets
$2,601Cash and due from depository institutions
$46Interest-bearing balances
$9,788Securities
$499Federal funds sold & reverse repurchase agreements
$39,577Net loans & leases
$475Loan loss allowance
$0Trading account assets
$1,251Bank premises and fixed assets
$0Other real estate owned
$1,945Goodwill and other intangibles
$0Life insurance assets
$723All other assets
$56,384Total liabilities and capital
$49,416Total liabilities
$46,081Total deposits
$39,386Interest-bearing deposits
$46,081Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,076Other borrowed funds
$0Subordinated debt
$259All other liabilities
$6,968Total equity capital
$6,968Total bank equity capital
$6,968Perpetual preferred stock
$0Common stock
$700Surplus
$6,145Undivided profits
Memoranda
$123Noncurrent loans and leases
$8,187Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$153Earning assets
$0Long-term assets (5+ years)
$362Average Assets, year-to-date
$49,910Average Assets, quarterly
$7,121Volatile liabilities
$55,690Insider loans
$56,327FHLB advances
$7,601Loans and leases held for sale
$1,330Unused loan commitments
$3,076Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,187Total unused commitments
$0Restructured Loans and leases
$475Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$3,419Total interest income
$1,259Total interest expense
$2,160Net interest income
$0Provision for loan and lease losses
$312Total noninterest income
$0Fiduciary activities
$231Service charges on deposit accounts
$0Trading account gains & fees
$81Additional noninterest income
$2,002Total noninterest expense
$998Salaries and employee benefits
$202Premises and equipment expense
$802Additional noninterest expense
$470Pre-tax net operating income
$0Securities gains (losses)
$157Applicable income taxes
$313Income before extraordinary items
$0Extraordinary gains - net
$313Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$12Sale, conversion, retirement of capital stock, net
$274Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.96%Yield on earning assets
2.56%Cost of funding earning assets
4.39%Net interest margin
0.63%Noninterest income to earning assets
4.07%Noninterest expense to earning assets
0.56%Net operating income to assets
0.56%Return on assets (ROA)
0.84%Pretax return on assets
4.55%Return on equity (ROE)
0.57%Retained earnings to average equity (YTD only)
0.03%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
39.17%Efficiency ratio
77,589Assets per employee
2.17%Cash dividends to net income (YTD only)
Condition Ratios (%)
87.54%Loss allowance to loans
1.19%Loss allowance to noncurrent loans
310.46%Noncurrent assets plus other real estate owned to assets
0.27%Noncurrent loans to loans
0.38%Net loans and leases to deposits
85.89%Net loans and leases to core deposits
102.85%Equity capital to assets
12.36%Core capital (leverage) ratio
9.19%Tier 1 risk-based capital ratio
11.78%Total risk-based capital ratio
Memoranda
$13Average assets
$55,690Average earning assets
$6,886Average equity
$49,159Average loans
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