Grand Timber Bank in Mcgregor, Minnesota (MN)



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Grand Timber Bank
GeneralFDIC Certificate #: 18719
Status: Active
Federal Reserve ID: 918356
Bank Holding Company (Regulatory Top Holder): Mcgregor Banco, Inc. (RSSDID: 1128246, Location: Mcgregor, MN)
Date Established: March 18, 1963
WWW: http://www.grandtimberbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
OTS Docket #: 9307
FDIC's unique #: 12587
Numeric code: 21
Regulator: FDIC
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: March 18, 1963
Last Structure Change Effective Date: November 01, 2006
Last Structure Change Process Date: November 01, 2006
Last Data Update: November 01, 2006
Data Source Date: April 05, 2012
LocationAddress: 204 North Maddy Street, Mcgregor, MN 55760
County: Aitkin
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
Financial SummaryTotal assets: $43.0 mil
Equity capital: $4.7 mil
Deposits held in domestic offices: $38.3 mil
Return on assets (ROA): -0.73% (-$0.3 mil)
Quarterly return on assets: 1.72% ($0.7 mil)
Return on Equity (ROE): -6.57% (-$0.3 mil)
Quarterly return on equity: 16.01% ($0.8 mil)
Net income: -$0.3 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: -0.72% (-$309.9 mil)
Quarterly Pretax return on assets: 1.72% ($740.3 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)12
Total assets$43,041
Cash and due from depository institutions$2,671
Interest-bearing balances$1,715
Securities$6,067
Federal funds sold & reverse repurchase agreements$922
Net loans & leases$30,913
Loan loss allowance $1,312
Trading account assets$0
Bank premises and fixed assets$536
Other real estate owned$1,336
Goodwill and other intangibles$0
All other assets$596
Life insurance assets$43,041
Total liabilities and capital$38,355
Total liabilities$38,262
Total deposits$31,079
Interest-bearing deposits$38,262
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5
Other borrowed funds $0
Subordinated debt $88
All other liabilities $4,686
Total equity capital$4,686
Total bank equity capital$4,686
Perpetual preferred stock$0
Common stock$125
Surplus$1,875
Undivided profits $2,686
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,917
Earning assets $0
Long-term assets (5+ years) $237
Average Assets, year-to-date $39,617
Average Assets, quarterly $1,331
Volatile liabilities $42,537
Insider loans $42,872
FHLB advances $31,613
Loans and leases held for sale $43,592
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $4,637
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,662
Derivatives$354
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,393
Total interest expense $363
Net interest income $2,030
Provision for loan and lease losses $1,024
Total noninterest income $156
Fiduciary activities $0
Service charges on deposit accounts $196
Trading account gains & fees $0
Additional noninterest income -$40
Total noninterest expense $1,470
Salaries and employee benefits $601
Premises and equipment expense $263
Additional noninterest expense $606
Pre-tax net operating income -$308
Securities gains (losses) $0
Applicable income taxes $1
Income before extraordinary items -$309
Extraordinary gains - net $0
Net income attributable to bank -$309
Net charge-offs $0
Cash dividends -$309
Sale, conversion, retirement of capital stock, net $498
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.20%
Cost of funding earning assets 0.94%
Net interest margin 5.26%
Noninterest income to earning assets 0.40%
Noninterest expense to earning assets 3.81%
Net operating income to assets -0.73%
Return on assets (ROA) -0.73%
Pretax return on assets -0.72%
Return on equity (ROE) -6.57%
Retained earnings to average equity (YTD only) -6.57%
Net charge-offs to loans 1.52%
Credit loss provision to net charge-offs 205.62%
Efficiency ratio1.44%
Assets per employee$67,246
Cash dividends to net income (YTD only)3.59%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.07%
Noncurrent assets plus other real estate owned to assets 68.44%
Noncurrent loans to loans 7.56%
Net loans and leases to deposits5.95%
Net loans and leases to core deposits 80.79%
Equity capital to assets 81.44%
Core capital (leverage) ratio 10.89%
Tier 1 risk-based capital ratio 10.64%
Total risk-based capital ratio 14.67%
Memoranda
Average assets$16
Average earning assets$42,537
Average equity $4,706
Average loans $38,618
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
012587Grand Timber Bank204 North Maddy Street, Mcgregor, MN 55760March 18, 1963Full Service Brick and Mortar
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