Heartland Bank in Somers, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Heartland Bank in Somers, Iowa (IA)
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Heartland Bank - Overview

  • General
  • FDIC Certificate #: 14809
    Status: Active
    Federal Reserve ID: 604547
    Bank Holding Company (Regulatory Top Holder): Somers Bancorporation (RSSDID: 1249105, Location: Somers, IA)
    Date Established: January 01, 1901
    WWW: http://www.heartlandbanks.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 15458
    FDIC's unique #: 9266
    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: October 16, 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: 615 Sixth Avenue, Somers, IA 50586
    County: Calhoun
    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
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $106.4 mil
    Equity capital: $14.6 mil
    Deposits held in domestic offices: $79.8 mil
    Return on assets (ROA): 1.94% ($2.1 mil)
    Quarterly return on assets: 1.54% ($1.6 mil)
    Return on Equity (ROE): 13.89% ($2.1 mil)
    Quarterly return on equity: 11.16% ($1.7 mil)
    Net income: $2.0 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 2.04% ($2,170.1 mil)
    Quarterly Pretax return on assets: 1.63% ($1,734.0 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
  • 21Total employees (full-time equivalent)
  • $106,378Total assets
  • $2,763Cash and due from depository institutions
  • $197Interest-bearing balances
  • $31,438Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $68,110Net loans & leases
  • $864Loan loss allowance
  • $0Trading account assets
  • $1,022Bank premises and fixed assets
  • $117Other real estate owned
  • $661Goodwill and other intangibles
  • $106,378Life insurance assets
  • $2,267All other assets
  • $91,810Total liabilities and capital
  • $79,783Total liabilities
  • $67,074Total deposits
  • $79,783Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 2904.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,506Trading liabilities
  • $0Other borrowed funds
  • $617Subordinated debt
  • $14,568All other liabilities
  • $14,568Total equity capital
  • $14,568Total bank equity capital
  • $0Perpetual preferred stock
  • $570Common stock
  • $2,180Surplus
  • $11,818Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $102Income earned, not collected on loans
  • $0Earning assets
  • $1,395Long-term assets (5+ years)
  • $99,745Average Assets, year-to-date
  • $26,189Average Assets, quarterly
  • $100,912Volatile liabilities
  • $105,007Insider loans
  • $85,246FHLB advances
  • $101,791Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,857Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $24,024Restructured Loans and leases
  • $484Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,859Total interest income
  • $650Total interest expense
  • $4,209Net interest income
  • $0Provision for loan and lease losses
  • $568Total noninterest income
  • $0Fiduciary activities
  • $408Service charges on deposit accounts
  • $0Trading account gains & fees
  • $160Additional noninterest income
  • $2,776Total noninterest expense
  • $1,840Salaries and employee benefits
  • $275Premises and equipment expense
  • $661Additional noninterest expense
  • $2,001Pre-tax net operating income
  • $56Securities gains (losses)
  • $104Applicable income taxes
  • $1,953Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,953Net income attributable to bank
  • $0Net charge-offs
  • $1,953Cash dividends
  • $3Sale, conversion, retirement of capital stock, net
  • $1,352Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.16%Yield on earning assets
  • 0.69%Cost of funding earning assets
  • 4.47%Net interest margin
  • 0.60%Noninterest income to earning assets
  • 2.95%Noninterest expense to earning assets
  • 1.88%Net operating income to assets
  • 1.94%Return on assets (ROA)
  • 2.04%Pretax return on assets
  • 13.89%Return on equity (ROE)
  • 4.27%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 667.00%Efficiency ratio
  • 58,112Assets per employee
  • 5.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 69.23%Loss allowance to loans
  • 1.25%Loss allowance to noncurrent loans
  • 847.06%Noncurrent assets plus other real estate owned to assets
  • 0.21%Noncurrent loans to loans
  • 0.15%Net loans and leases to deposits
  • 85.37%Net loans and leases to core deposits
  • 91.43%Equity capital to assets
  • 13.69%Core capital (leverage) ratio
  • 12.63%Tier 1 risk-based capital ratio
  • 15.08%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $100,912Average earning assets
  • $14,064Average equity
  • $94,116Average 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
  • $379Managed Assets
  • 1Number of Accounts
  • $357Personal trust and agency accounts
  • $357Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 5Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $22Other retirement accounts
  • $22Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 4 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09266Heartland Bank615 Sixth Avenue, Somers, IA 50586January 01, 1901Full Service Brick and Mortar
    1232169Callender Branch425 Thomas Street, Callender, IA 50523September 19, 1936Full Service Brick and Mortar
    287081113 Market Street Branch1113 Market Street, Gowrie, IA 50543October 30, 1883Full Service Brick and Mortar
    3429517Manson Branch1314 1st Avenue, Manson, IA 50563August 18, 2003Full Service Brick and Mortar

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