FDIC Certificate #: 10998 Status: Active Federal Reserve ID: 20857 Bank Holding Company (Regulatory Top Holder): Independent Bancshares, Inc. (RSSDID: 2466235, Location: Clarkfield, MN) Date Established: January 01, 1878 WWW:http://www.granitefallsbank.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) FDIC's unique #: 7048 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: Yes Asset Concentration Hierarchy: Agricultural 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: 702 Prentice Street, Granite Falls, MN 56241 County: Yellow Medicine Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Sioux Falls 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: $193.6 mil Equity capital: $22.1 mil Deposits held in domestic offices: $163.4 mil Return on assets (ROA): 1.57% ($3.0 mil) Quarterly return on assets: 1.39% ($2.7 mil) Return on Equity (ROE): 16.60% ($3.7 mil) Quarterly return on equity: 12.93% ($2.8 mil) Net income: $3.2 mil Quarterly Net income: $0.7 mil Pretax return on assets: 1.57% ($3,039.5 mil) Quarterly Pretax return on assets: 1.39% ($2,691.0 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
16Total employees (full-time equivalent)
$193,599Total assets
$12,668Cash and due from depository institutions
$9,285Interest-bearing balances
$123,161Securities
$0Federal funds sold & reverse repurchase agreements
$52,876Net loans & leases
$449Loan loss allowance
$0Trading account assets
$1,331Bank premises and fixed assets
$0Other real estate owned
$142Goodwill and other intangibles
$193,599Life insurance assets
$3,421All other assets
$171,548Total liabilities and capital
$163,398Total liabilities
$70,055Total deposits
$163,398Interest-bearing deposits
$85Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$7,986Trading liabilities
$0Other borrowed funds
$164Subordinated debt
$22,051All other liabilities
$22,051Total equity capital
$22,051Total bank equity capital
$0Perpetual preferred stock
$200Common stock
$9,800Surplus
$12,051Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$326Income earned, not collected on loans
$0Earning assets
$1,797Long-term assets (5+ years)
$185,322Average Assets, year-to-date
$83,255Average Assets, quarterly
$203,342Volatile liabilities
$200,439Insider loans
$83,286FHLB advances
$194,854Loans and leases held for sale
$237Unused loan commitments
$237Tier 1 (core) risk-based capital
$17,304Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$24,993Restructured Loans and leases
$180Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$6,038Total interest income
$618Total interest expense
$5,420Net interest income
$0Provision for loan and lease losses
$212Total noninterest income
$0Fiduciary activities
$115Service charges on deposit accounts
$0Trading account gains & fees
$97Additional noninterest income
$2,551Total noninterest expense
$1,436Salaries and employee benefits
$251Premises and equipment expense
$864Additional noninterest expense
$3,081Pre-tax net operating income
$102Securities gains (losses)
$0Applicable income taxes
$3,183Income before extraordinary items
$0Extraordinary gains - net
$3,183Net income attributable to bank
$0Net charge-offs
$3,183Cash dividends
$172Sale, conversion, retirement of capital stock, net
$300Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.09%Yield on earning assets
0.32%Cost of funding earning assets
2.77%Net interest margin
0.11%Noninterest income to earning assets
1.30%Noninterest expense to earning assets
1.52%Net operating income to assets
1.57%Return on assets (ROA)
1.57%Pretax return on assets
16.60%Return on equity (ROE)
15.03%Retained earnings to average equity (YTD only)
0.32%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
17.91%Efficiency ratio
45,295Assets per employee
12.10%Cash dividends to net income (YTD only)
Condition Ratios (%)
9.43%Loss allowance to loans
0.84%Loss allowance to noncurrent loans
137.73%Noncurrent assets plus other real estate owned to assets
0.17%Noncurrent loans to loans
0.61%Net loans and leases to deposits
32.36%Net loans and leases to core deposits
33.38%Equity capital to assets
11.39%Core capital (leverage) ratio
8.88%Tier 1 risk-based capital ratio
20.78%Total risk-based capital ratio
Memoranda
$21Average assets
$203,342Average earning assets
$19,180Average equity
$195,495Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
7048
Granite Falls Bank
702 Prentice Street, Granite Falls, MN 56241
January 01, 1878
Full Service Brick and Mortar
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