Grinnell State Bank in Grinnell, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Grinnell State Bank - Overview

  • General
  • FDIC Certificate #: 11347
    Status: Active
    Federal Reserve ID: 783246
    Bank Holding Company (Regulatory Top Holder): Grinnell Bancshares, Inc. (RSSDID: 1208157, Location: Grinnell, IA)
    Date Established: October 25, 1925
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 12304
    FDIC's unique #: 7248
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: November 18, 2011
    Last Structure Change Process Date: November 21, 2011
    Last Data Update: November 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 814 Fourth Avenue, 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
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $262.9 mil
    Equity capital: $23.7 mil
    Deposits held in domestic offices: $217.7 mil
    Return on assets (ROA): 1.11% ($2.9 mil)
    Quarterly return on assets: 1.19% ($3.1 mil)
    Return on Equity (ROE): 9.21% ($2.2 mil)
    Quarterly return on equity: 10.97% ($2.6 mil)
    Net income: $2.1 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 1.50% ($3,943.2 mil)
    Quarterly Pretax return on assets: 1.19% ($3,128.3 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
  • 61Total employees (full-time equivalent)
  • $262,880Total assets
  • $20,741Cash and due from depository institutions
  • $15,842Interest-bearing balances
  • $55,061Securities
  • $15,726Federal funds sold & reverse repurchase agreements
  • $158,110Net loans & leases
  • $833Loan loss allowance
  • $0Trading account assets
  • $6,549Bank premises and fixed assets
  • $2,308Other real estate owned
  • $0Goodwill and other intangibles
  • $262,880Life insurance assets
  • $4,385All other assets
  • $239,161Total liabilities and capital
  • $217,666Total liabilities
  • $162,016Total deposits
  • $217,666Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 5593.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $14,293Trading liabilities
  • $0Other borrowed funds
  • $1,609Subordinated debt
  • $23,719All other liabilities
  • $23,719Total equity capital
  • $23,719Total bank equity capital
  • $0Perpetual preferred stock
  • $240Common stock
  • $2,660Surplus
  • $20,819Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $102Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,625Income earned, not collected on loans
  • $0Earning assets
  • $1,473Long-term assets (5+ years)
  • $244,739Average Assets, year-to-date
  • $48,898Average Assets, quarterly
  • $187,792Volatile liabilities
  • $216,924Insider loans
  • $215,662FHLB advances
  • $213,581Loans and leases held for sale
  • $1,348Unused loan commitments
  • $1,348Tier 1 (core) risk-based capital
  • $22,757Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $25,971Restructured Loans and leases
  • $89Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,962Total interest income
  • $1,731Total interest expense
  • $7,231Net interest income
  • $8Provision for loan and lease losses
  • $1,008Total noninterest income
  • $35Fiduciary activities
  • $413Service charges on deposit accounts
  • $0Trading account gains & fees
  • $560Additional noninterest income
  • $5,411Total noninterest expense
  • $3,685Salaries and employee benefits
  • $464Premises and equipment expense
  • $1,262Additional noninterest expense
  • $2,820Pre-tax net operating income
  • -$1Securities gains (losses)
  • $731Applicable income taxes
  • $2,088Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,088Net income attributable to bank
  • $0Net charge-offs
  • $2,088Cash dividends
  • -$54Sale, conversion, retirement of capital stock, net
  • $720Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.07%Yield on earning assets
  • 0.98%Cost of funding earning assets
  • 4.09%Net interest margin
  • 0.57%Noninterest income to earning assets
  • 3.06%Noninterest expense to earning assets
  • 1.11%Net operating income to assets
  • 1.11%Return on assets (ROA)
  • 1.50%Pretax return on assets
  • 9.21%Return on equity (ROE)
  • 6.04%Retained earnings to average equity (YTD only)
  • -0.04%Net charge-offs to loans
  • -14.81%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 63,588Assets per employee
  • 4.31%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 34.48%Loss allowance to loans
  • 0.52%Loss allowance to noncurrent loans
  • 18.01%Noncurrent assets plus other real estate owned to assets
  • 2.64%Noncurrent loans to loans
  • 2.91%Net loans and leases to deposits
  • 72.64%Net loans and leases to core deposits
  • 74.30%Equity capital to assets
  • 9.02%Core capital (leverage) ratio
  • 10.65%Tier 1 risk-based capital ratio
  • 10.55%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $187,792Average earning assets
  • $22,662Average equity
  • $176,928Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $24,905Managed Assets
  • 1Number of Accounts
  • $12,268Personal trust and agency accounts
  • $8,070Employee benefit-defined contribution accounts
  • $3,687Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $350Other fiduciary accounts
  • $161Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 288Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $12,637Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $12,637Fiduciary accounts held in foreign offices

List of branches

  • 5 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07248Grinnell State Bank814 Fourth Avenue, Grinnell, IA 50112October 25, 1925Full Service Brick and Mortar
    213759Marengo Branch1101 Court Avenue, Marengo, IA 52301January 07, 1929Full Service Brick and Mortar
    48861Grinnell Branch5601 Merle Hay Road, Johnston, IA 50131March 01, 1903Full Service Brick and Mortar
    5231152Polk City Branch205 Broadway, Polk City, IA 50226December 03, 1997Full Service Brick and Mortar
    6455690Urbandale Branch4501 Nw Urbandale Drive, Urbandale, IA 50322October 02, 2006Full Service Brick and Mortar

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