GNB Bank in Grundy Center, Iowa (IA)



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GNB Bank
GeneralFDIC Certificate #: 14079
Status: Active
Federal Reserve ID: 724744
Bank Holding Company (Regulatory Top Holder): Gnb Bancorporation (RSSDID: 1205950, Location: Grundy Center, IA)
Date Established: March 16, 1934
WWW: http://www.gnbbank.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 10194
FDIC's unique #: 8802
Numeric code: 13
Regulator: FED
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: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: March 16, 1934
Last Structure Change Effective Date: December 30, 2011
Last Structure Change Process Date: January 05, 2012
Last Data Update: January 05, 2012
Data Source Date: April 05, 2012
LocationAddress: 603 Seventh Street, Grundy Center, IA 50638
County: Grundy
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Waterloo-Cedar Falls, IA (#47940)
CBSA Metro Statistical Area: Waterloo-Cedar Falls, IA (#47940)
History of ChangesCorrections
Change in Primary Regulatory Agency
Change in Supervisory Agency
Financial SummaryTotal assets: $196.3 mil
Equity capital: $21.4 mil
Deposits held in domestic offices: $138.8 mil
Return on assets (ROA): 1.35% ($2.6 mil)
Quarterly return on assets: 1.28% ($2.5 mil)
Return on Equity (ROE): 12.82% ($2.7 mil)
Quarterly return on equity: 11.70% ($2.5 mil)
Net income: $2.6 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 1.41% ($2,768.3 mil)
Quarterly Pretax return on assets: 1.34% ($2,630.9 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)46
Total assets$196,336
Cash and due from depository institutions$5,231
Interest-bearing balances$2,370
Securities$68,863
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$108,992
Loan loss allowance $1,613
Trading account assets$0
Bank premises and fixed assets$2,291
Other real estate owned$57
Goodwill and other intangibles$1,085
All other assets$9,817
Life insurance assets$196,336
Total liabilities and capital$174,970
Total liabilities$138,775
Total deposits$116,784
Interest-bearing deposits$138,775
Deposits held in domestic offices$90
% insured (estimated)7862.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$26,298
Other borrowed funds $0
Subordinated debt $2,035
All other liabilities $21,366
Total equity capital$21,366
Total bank equity capital$21,366
Perpetual preferred stock$0
Common stock$350
Surplus$1,450
Undivided profits $19,566
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $312
Income earned, not collected on loans $231
Earning assets $0
Long-term assets (5+ years) $2,071
Average Assets, year-to-date $180,225
Average Assets, quarterly $43,519
Volatile liabilities $191,543
Insider loans $196,132
FHLB advances $152,012
Loans and leases held for sale $195,887
Unused loan commitments $3,794
Tier 1 (core) risk-based capital $3,794
Tier 2 risk-based capital $17,795
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $47,604
Derivatives$5,332
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,004
Total interest expense $2,380
Net interest income $5,624
Provision for loan and lease losses $135
Total noninterest income $3,251
Fiduciary activities $318
Service charges on deposit accounts $238
Trading account gains & fees $0
Additional noninterest income $2,695
Total noninterest expense $6,206
Salaries and employee benefits $2,963
Premises and equipment expense $501
Additional noninterest expense $2,742
Pre-tax net operating income $2,534
Securities gains (losses) $160
Applicable income taxes $109
Income before extraordinary items $2,585
Extraordinary gains - net $0
Net income attributable to bank $2,585
Net charge-offs $0
Cash dividends $2,585
Sale, conversion, retirement of capital stock, net $97
Net operating income $1,780
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.54%
Cost of funding earning assets 1.35%
Net interest margin 3.19%
Noninterest income to earning assets 1.84%
Noninterest expense to earning assets 3.52%
Net operating income to assets 1.27%
Return on assets (ROA) 1.35%
Pretax return on assets 1.41%
Return on equity (ROE) 12.82%
Retained earnings to average equity (YTD only) 3.99%
Net charge-offs to loans 0.09%
Credit loss provision to net charge-offs 139.18%
Efficiency ratio27.52%
Assets per employee$69,927
Cash dividends to net income (YTD only)4.27%
Condition Ratios (%)
Loss allowance to loans 68.86%
Loss allowance to noncurrent loans 1.46%
Noncurrent assets plus other real estate owned to assets 698.27%
Noncurrent loans to loans 0.15%
Net loans and leases to deposits0.21%
Net loans and leases to core deposits 78.54%
Equity capital to assets 91.70%
Core capital (leverage) ratio 10.88%
Tier 1 risk-based capital ratio 9.08%
Total risk-based capital ratio 11.71%
Memoranda
Average assets$13
Average earning assets$191,543
Average equity $20,165
Average loans $176,299
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$75,751
Number of Accounts1
Personal trust and agency accounts$50,673
Employee benefit-defined contribution accounts$33,938
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$314
Investment management agency accounts$836
Other fiduciary accounts$15,183
Fiduciary accounts held in foreign offices$402
Non-managed Assets$0
Number of Accounts186
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$314
Employee benefit-defined benefit accounts$0
Other retirement accounts$25,078
Corporate trust and agency accounts$6,037
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,517
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4 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08802Gnb Bank603 Seventh Street, Grundy Center, IA 50638March 16, 1934Full Service Brick and Mortar
18700Insurance & Investments603 7th St, Grundy Center, IA 50638October 01, 1906Limited Service Administrative
4442281Messenger Service Branch103 East Center Street, Conrad, IA 50621June 01, 2005Limited Service Messenger
5453092Conrad Office Branch103 E Center, Conrad, IA 50621December 02, 2005Full Service Brick and Mortar
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