FDIC Certificate #: 29375 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Vantus Bank (#27732) Federal Reserve ID: 243973 Date Established: January 01, 1934 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 3356 FDIC's unique #: 42209 Numeric code: 37 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: No Date of Deposit Insurance: March 11, 1935 Last Structure Change Effective Date: March 31, 1998 Last Structure Change Process Date: April 30, 1998 Last Data Update: April 30, 1998 Data Source Date: April 05, 2012
Location
Address: 1025 Main Street, Grinnell, IA 50112 County: Poweshiek Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Des Moines Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $93.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
16Total employees (full-time equivalent)
$93,376Total assets
$6,795Cash and due from depository institutions
$6,501Interest-bearing balances
$4,490Securities
$0Federal funds sold & reverse repurchase agreements
$79,702Net loans & leases
$652Loan loss allowance
$0Trading account assets
$229Bank premises and fixed assets
$212Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,948All other assets
$93,376Total liabilities and capital
$83,850Total liabilities
$62,870Total deposits
$62,870Interest-bearing deposits
$62,870Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$20,628Other borrowed funds
$0Subordinated debt
$352All other liabilities
$9,526Total equity capital
$9,526Total bank equity capital
$9,526Perpetual preferred stock
$0Common stock
$5Surplus
$2,867Undivided profits
Memoranda
$6,654Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,258Earning assets
$0Long-term assets (5+ years)
$503Average Assets, year-to-date
$90,693Average Assets, quarterly
$0Volatile liabilities
$90,032Insider loans
$93,181FHLB advances
$32,494Loans and leases held for sale
$0Unused loan commitments
$20,432Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,818Total unused commitments
$0Restructured Loans and leases
$52,224Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$7,171Total interest income
$4,260Total interest expense
$2,911Net interest income
$96Provision for loan and lease losses
$372Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$372Additional noninterest income
$1,421Total noninterest expense
$933Salaries and employee benefits
$184Premises and equipment expense
$304Additional noninterest expense
$1,766Pre-tax net operating income
-$51Securities gains (losses)
$601Applicable income taxes
$1,114Income before extraordinary items
$0Extraordinary gains - net
$1,114Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$42Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.20%Yield on earning assets
4.87%Cost of funding earning assets
3.33%Net interest margin
0.43%Noninterest income to earning assets
1.62%Noninterest expense to earning assets
1.27%Net operating income to assets
1.24%Return on assets (ROA)
1.90%Pretax return on assets
12.59%Return on equity (ROE)
12.59%Retained earnings to average equity (YTD only)
0.05%Net charge-offs to loans
228.57%Credit loss provision to net charge-offs
44.33%Efficiency ratio
43,284Assets per employee
5.84%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.81%Loss allowance to noncurrent loans
51.83%Noncurrent assets plus other real estate owned to assets
1.57%Noncurrent loans to loans
1.57%Net loans and leases to deposits
126.77%Net loans and leases to core deposits
156.27%Equity capital to assets
10.20%Core capital (leverage) ratio
10.20%Tier 1 risk-based capital ratio
18.24%Total risk-based capital ratio
Memoranda
$19Average assets
$90,032Average earning assets
$8,849Average equity
$87,492Average loans
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