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

Grand Rapids State Bank - Overview

  • General
  • FDIC Certificate #: 10962
    Status: Active
    Federal Reserve ID: 1003558
    Bank Holding Company (Regulatory Top Holder): Wilcox Bancshares, Inc. (RSSDID: 1125245, Location: Grand Rapids, MN)
    Date Established: June 15, 1914
    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 #: 7018
    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: 523 Nw 1st Avenue, Grand Rapids, MN 55744
    County: Itasca
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $238.7 mil
    Equity capital: $28.0 mil
    Deposits held in domestic offices: $195.2 mil
    Return on assets (ROA): 1.21% ($2.9 mil)
    Quarterly return on assets: 1.23% ($2.9 mil)
    Return on Equity (ROE): 10.31% ($2.9 mil)
    Quarterly return on equity: 10.26% ($2.9 mil)
    Net income: $2.8 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 1.21% ($2,888.7 mil)
    Quarterly Pretax return on assets: 1.23% ($2,936.4 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
  • 50Total employees (full-time equivalent)
  • $238,734Total assets
  • $22,231Cash and due from depository institutions
  • $18,012Interest-bearing balances
  • $80,307Securities
  • $2,075Federal funds sold & reverse repurchase agreements
  • $119,475Net loans & leases
  • $2,417Loan loss allowance
  • $0Trading account assets
  • $1,976Bank premises and fixed assets
  • $2,281Other real estate owned
  • $0Goodwill and other intangibles
  • $238,734Life insurance assets
  • $10,389All other assets
  • $210,713Total liabilities and capital
  • $195,192Total liabilities
  • $171,354Total deposits
  • $195,192Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 10042.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,500Trading liabilities
  • $0Other borrowed funds
  • $1,979Subordinated debt
  • $28,021All other liabilities
  • $28,021Total equity capital
  • $28,021Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $16,500Surplus
  • $10,521Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $96Income earned, not collected on loans
  • $0Earning assets
  • $1,294Long-term assets (5+ years)
  • $219,869Average Assets, year-to-date
  • $73,484Average Assets, quarterly
  • $229,534Volatile liabilities
  • $233,365Insider loans
  • $174,173FHLB advances
  • $229,498Loans and leases held for sale
  • $7,215Unused loan commitments
  • $7,215Tier 1 (core) risk-based capital
  • $25,237Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $13,288Restructured Loans and leases
  • $350Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,028Total interest income
  • $2,036Total interest expense
  • $8,992Net interest income
  • $320Provision for loan and lease losses
  • $1,139Total noninterest income
  • $0Fiduciary activities
  • $315Service charges on deposit accounts
  • $0Trading account gains & fees
  • $824Additional noninterest income
  • $7,036Total noninterest expense
  • $3,648Salaries and employee benefits
  • $641Premises and equipment expense
  • $2,747Additional noninterest expense
  • $2,775Pre-tax net operating income
  • $0Securities gains (losses)
  • $5Applicable income taxes
  • $2,770Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,770Net income attributable to bank
  • $0Net charge-offs
  • $2,770Cash dividends
  • $256Sale, conversion, retirement of capital stock, net
  • $2,300Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.21%Yield on earning assets
  • 0.96%Cost of funding earning assets
  • 4.25%Net interest margin
  • 0.54%Noninterest income to earning assets
  • 3.32%Noninterest expense to earning assets
  • 1.21%Net operating income to assets
  • 1.21%Return on assets (ROA)
  • 1.21%Pretax return on assets
  • 10.31%Return on equity (ROE)
  • 1.75%Retained earnings to average equity (YTD only)
  • 0.20%Net charge-offs to loans
  • 125.00%Credit loss provision to net charge-offs
  • 12.09%Efficiency ratio
  • 69,450Assets per employee
  • 4.77%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 83.03%Loss allowance to loans
  • 1.98%Loss allowance to noncurrent loans
  • 2517.71%Noncurrent assets plus other real estate owned to assets
  • 1.00%Noncurrent loans to loans
  • 0.08%Net loans and leases to deposits
  • 61.21%Net loans and leases to core deposits
  • 67.02%Equity capital to assets
  • 11.74%Core capital (leverage) ratio
  • 11.00%Tier 1 risk-based capital ratio
  • 14.49%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $229,534Average earning assets
  • $26,854Average equity
  • $211,776Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07018Grand Rapids State Bank523 Nw 1st Avenue, Grand Rapids, MN 55744June 15, 1914Full Service Brick and Mortar
    1223522Pokegama Branch169 South And Golf Course Road, Grand Rapids, MN 55744May 08, 1989Full Service Brick and Mortar

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