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

Grand Marais State Bank - Overview

  • General
  • FDIC Certificate #: 8842
    Status: Active
    Federal Reserve ID: 945950
    Bank Holding Company (Regulatory Top Holder): Central Trust Company (RSSDID: 1020920, Location: Edina, MN)
    Date Established: September 16, 1916
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 5637
    Numeric code: 13
    Regulator: FED
    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: January 01, 1934
    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
  • Location
  • Address: 211 East Highway 61, Grand Marais, MN 55604
    County: Cook
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $74.0 mil
    Equity capital: $5.9 mil
    Deposits held in domestic offices: $66.0 mil
    Return on assets (ROA): 1.81% ($1.3 mil)
    Quarterly return on assets: 1.37% ($1.0 mil)
    Return on Equity (ROE): 23.04% ($1.4 mil)
    Quarterly return on equity: 17.74% ($1.1 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.81% ($1,339.2 mil)
    Quarterly Pretax return on assets: 1.37% ($1,013.7 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
  • 17Total employees (full-time equivalent)
  • $73,990Total assets
  • $2,456Cash and due from depository institutions
  • $0Interest-bearing balances
  • $24,801Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $43,752Net loans & leases
  • $410Loan loss allowance
  • $0Trading account assets
  • $1,848Bank premises and fixed assets
  • $290Other real estate owned
  • $0Goodwill and other intangibles
  • $73,990Life insurance assets
  • $843All other assets
  • $68,101Total liabilities and capital
  • $66,047Total liabilities
  • $48,532Total deposits
  • $66,047Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,925Trading liabilities
  • $0Other borrowed funds
  • $129Subordinated debt
  • $5,889All other liabilities
  • $5,889Total equity capital
  • $5,889Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $2,800Surplus
  • $2,889Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $113Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $341Long-term assets (5+ years)
  • $68,553Average Assets, year-to-date
  • $27,398Average Assets, quarterly
  • $71,607Volatile liabilities
  • $75,900Insider loans
  • $40,947FHLB advances
  • $75,330Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $5,776Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,102Restructured Loans and leases
  • $220Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,293Total interest income
  • $385Total interest expense
  • $2,908Net interest income
  • $50Provision for loan and lease losses
  • $573Total noninterest income
  • $0Fiduciary activities
  • $101Service charges on deposit accounts
  • $0Trading account gains & fees
  • $472Additional noninterest income
  • $2,133Total noninterest expense
  • $1,026Salaries and employee benefits
  • $498Premises and equipment expense
  • $609Additional noninterest expense
  • $1,298Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $1,298Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,298Net income attributable to bank
  • $0Net charge-offs
  • $1,298Cash dividends
  • $72Sale, conversion, retirement of capital stock, net
  • $1,217Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.97%Yield on earning assets
  • 0.58%Cost of funding earning assets
  • 4.39%Net interest margin
  • 0.86%Noninterest income to earning assets
  • 3.22%Noninterest expense to earning assets
  • 1.81%Net operating income to assets
  • 1.81%Return on assets (ROA)
  • 1.81%Pretax return on assets
  • 23.04%Return on equity (ROE)
  • 1.44%Retained earnings to average equity (YTD only)
  • 0.16%Net charge-offs to loans
  • 69.44%Credit loss provision to net charge-offs
  • 18.72%Efficiency ratio
  • 61,275Assets per employee
  • 4.35%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 93.76%Loss allowance to loans
  • 0.93%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.39%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 66.24%Net loans and leases to core deposits
  • 67.85%Equity capital to assets
  • 7.96%Core capital (leverage) ratio
  • 7.67%Tier 1 risk-based capital ratio
  • 14.11%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $71,607Average earning assets
  • $5,633Average equity
  • $66,295Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05637Grand Marais State Bank211 East Highway 61, Grand Marais, MN 55604September 16, 1916Full Service Brick and Mortar
    1219050Tofte Branch4 Johannes Lane, Tofte, MN 55615September 04, 1985Full Service Brick and Mortar

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