Freeport State Bank in Freeport, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Freeport State Bank - Overview

  • General
  • FDIC Certificate #: 8210
    Status: Active
    Federal Reserve ID: 72454
    Bank Holding Company (Regulatory Top Holder): Freeport Bancshares, Inc. (RSSDID: 1125795, Location: Freeport, MN)
    Date Established: January 01, 1908
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 5234
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: June 02, 2010
    Last Structure Change Process Date: June 03, 2010
    Last Data Update: June 03, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 111 Main Street East, Freeport, MN 56331
    County: Stearns
    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): St. Cloud, MN (#6980)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): St. Cloud, MN (#41060)
    CBSA Metro Statistical Area: St. Cloud, MN (#41060)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $88.4 mil
    Equity capital: $7.8 mil
    Deposits held in domestic offices: $77.2 mil
    Return on assets (ROA): 1.06% ($0.9 mil)
    Quarterly return on assets: 1.02% ($0.9 mil)
    Return on Equity (ROE): 12.16% ($1.0 mil)
    Quarterly return on equity: 11.55% ($0.9 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.60% ($1,414.0 mil)
    Quarterly Pretax return on assets: 1.54% ($1,361.0 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
  • 21Total employees (full-time equivalent)
  • $88,377Total assets
  • $5,519Cash and due from depository institutions
  • $2,548Interest-bearing balances
  • $8,908Securities
  • $300Federal funds sold & reverse repurchase agreements
  • $69,810Net loans & leases
  • $593Loan loss allowance
  • $0Trading account assets
  • $2,132Bank premises and fixed assets
  • $715Other real estate owned
  • $0Goodwill and other intangibles
  • $88,377Life insurance assets
  • $993All other assets
  • $80,581Total liabilities and capital
  • $77,226Total liabilities
  • $65,703Total deposits
  • $77,226Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,000Trading liabilities
  • $0Other borrowed funds
  • $355Subordinated debt
  • $7,796All other liabilities
  • $7,796Total equity capital
  • $7,796Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $5,960Surplus
  • $1,786Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $642Income earned, not collected on loans
  • $226Earning assets
  • $388Long-term assets (5+ years)
  • $81,566Average Assets, year-to-date
  • $22,667Average Assets, quarterly
  • $85,409Volatile liabilities
  • $87,357Insider loans
  • $69,266FHLB advances
  • $86,805Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,796Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,121Restructured Loans and leases
  • $2,090Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,859Total interest income
  • $666Total interest expense
  • $4,193Net interest income
  • $20Provision for loan and lease losses
  • $269Total noninterest income
  • $0Fiduciary activities
  • $188Service charges on deposit accounts
  • $0Trading account gains & fees
  • $81Additional noninterest income
  • $3,076Total noninterest expense
  • $1,896Salaries and employee benefits
  • $359Premises and equipment expense
  • $821Additional noninterest expense
  • $1,366Pre-tax net operating income
  • $0Securities gains (losses)
  • $459Applicable income taxes
  • $907Income before extraordinary items
  • $0Extraordinary gains - net
  • $907Net income attributable to bank
  • $0Net charge-offs
  • $907Cash dividends
  • -$5Sale, conversion, retirement of capital stock, net
  • $295Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.10%Yield on earning assets
  • 0.84%Cost of funding earning assets
  • 5.26%Net interest margin
  • 0.34%Noninterest income to earning assets
  • 3.86%Noninterest expense to earning assets
  • 1.06%Net operating income to assets
  • 1.06%Return on assets (ROA)
  • 1.60%Pretax return on assets
  • 12.16%Return on equity (ROE)
  • 8.21%Retained earnings to average equity (YTD only)
  • -0.01%Net charge-offs to loans
  • -400.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 68,938Assets per employee
  • 4.21%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 32.52%Loss allowance to loans
  • 0.84%Loss allowance to noncurrent loans
  • 92.37%Noncurrent assets plus other real estate owned to assets
  • 1.54%Noncurrent loans to loans
  • 0.91%Net loans and leases to deposits
  • 90.40%Net loans and leases to core deposits
  • 98.11%Equity capital to assets
  • 8.82%Core capital (leverage) ratio
  • 8.98%Tier 1 risk-based capital ratio
  • 11.26%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $85,409Average earning assets
  • $7,456Average equity
  • $79,710Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05234Freeport State Bank111 Main Street East, Freeport, MN 56331January 01, 1908Full Service Brick and Mortar
    1218127Detached Facility601 Main Street, New Munich, MN 56356January 31, 1979Limited Service Facility
    2218128Melrose Branch219 East Main Street, Melrose, MN 56352August 02, 1999Full Service Brick and Mortar

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