Granite Falls Bank in Granite Falls, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


Granite Falls Bank - Overview

  • General
  • 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
  • NoIDNameAddressEstablishedService TypeMap
    07048Granite Falls Bank702 Prentice Street, Granite Falls, MN 56241January 01, 1878Full Service Brick and Mortar

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