Great Western Bank in Rapid City, South Dakota (SD)



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Great Western Bank
GeneralFDIC Certificate #: 25259
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Great Western Bank (#15289)
Federal Reserve ID: 482558
Date Established: July 10, 1984
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Interstate: No)
OTS Docket #: 11472
FDIC's unique #: 17464
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: July 10, 1984
Last Structure Change Effective Date: May 30, 2003
Last Structure Change Process Date: June 24, 2003
Last Data Update: June 24, 2003
Data Source Date: April 05, 2012
LocationAddress: 14 St. Joseph Street, Rapid City, SD 57701
County: Pennington
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: Midwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Rapid City, SD (#6660)
Core Based Statistical Area (CBSA): Rapid City, SD (#39660)
CBSA Metro Statistical Area: Rapid City, SD (#39660)
Financial SummaryTotal assets: $255.4 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, 2002)
(Dollar figures in thousands)
Total employees (full-time equivalent)102
Total assets$248,338
Cash and due from depository institutions$8,312
Interest-bearing balances$9
Securities$26,306
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$202,768
Loan loss allowance $2,622
Trading account assets$0
Bank premises and fixed assets$7,518
Other real estate owned$15
Goodwill and other intangibles$71
All other assets$3,348
Life insurance assets$0
Total liabilities and capital$248,338
Total liabilities$227,380
Total deposits$208,702
Interest-bearing deposits$181,880
Deposits held in domestic offices$208,702
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $7,546
Trading liabilities$0
Other borrowed funds $9,120
Subordinated debt $0
All other liabilities $2,012
Total equity capital$20,958
Total bank equity capital$20,958
Perpetual preferred stock$20,958
Common stock$1,800
Surplus$180
Undivided profits $13,000
Memoranda
Noncurrent loans and leases $5,978
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $32,196
Income earned, not collected on loans $0
Earning assets $566
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,128
Average Assets, quarterly $229,083
Volatile liabilities $38,322
Insider loans $246,895
FHLB advances $253,511
Loans and leases held for sale $53,077
Unused loan commitments $1,230
Tier 1 (core) risk-based capital $9,000
Tier 2 risk-based capital $0
Total risk weighted assets $14,922
Total unused commitments $32,196
Restructured Loans and leases $0
Derivatives$2,475
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Income and Expense (December 31, 2002)
(Dollar figures in thousands)
Total interest income $17,005
Total interest expense $6,248
Net interest income $10,757
Provision for loan and lease losses $1,640
Total noninterest income $3,380
Fiduciary activities $199
Service charges on deposit accounts $1,442
Trading account gains & fees $0
Additional noninterest income $1,739
Total noninterest expense $7,313
Salaries and employee benefits $4,012
Premises and equipment expense $1,258
Additional noninterest expense $2,043
Pre-tax net operating income $5,184
Securities gains (losses) $6
Applicable income taxes $1,902
Income before extraordinary items $3,288
Extraordinary gains - net $0
Net income attributable to bank $3,288
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $2,119
Net operating income $1,908
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Performance and Condition Ratios (December 31, 2002)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.49%
Cost of funding earning assets 2.75%
Net interest margin 4.74%
Noninterest income to earning assets 1.49%
Noninterest expense to earning assets 3.22%
Net operating income to assets 1.33%
Return on assets (ROA) 1.33%
Pretax return on assets 2.10%
Return on equity (ROE) 16.45%
Retained earnings to average equity (YTD only) 6.90%
Net charge-offs to loans 1.07%
Credit loss provision to net charge-offs 77.39%
Efficiency ratio3.22%
Assets per employee$51,602
Cash dividends to net income (YTD only)2.43%
Condition Ratios (%)
Loss allowance to loans 58.03%
Loss allowance to noncurrent loans 1.28%
Noncurrent assets plus other real estate owned to assets 463.25%
Noncurrent loans to loans 0.23%
Net loans and leases to deposits0.28%
Net loans and leases to core deposits 97.16%
Equity capital to assets 123.14%
Core capital (leverage) ratio 8.44%
Tier 1 risk-based capital ratio 8.20%
Total risk-based capital ratio 10.35%
Memoranda
Average assets$12
Average earning assets$246,895
Average equity $19,987
Average loans $226,934
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Total Fiduciary and Related Assets (December 31, 2002)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$431,056
Number of Accounts1
Personal trust and agency accounts$427,018
Employee benefit-defined contribution accounts$427,018
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts126
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$4,038
Corporate trust and agency accounts$4,033
Other fiduciary accounts$5
Fiduciary accounts held in foreign offices$0
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