Heartland State Bank in Redfield, South Dakota (SD)
Overview, Financial Summary, Detailed Financial Reports, Branches


Heartland State Bank - Overview

  • General
  • FDIC Certificate #: 9007
    Status: Active
    Federal Reserve ID: 135854
    Bank Holding Company (Regulatory Top Holder): Wessington Bankshares, Inc. (RSSDID: 1123018, Location: Wessington, SD)
    Date Established: January 01, 1909
    WWW: http://www.hsbsd.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 5753
    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: April 02, 2007
    Last Structure Change Process Date: April 17, 2007
    Last Data Update: April 17, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 302 East 7th Avenue, Redfield, SD 57469
    County: Spink
    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
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $71.0 mil
    Equity capital: $6.7 mil
    Deposits held in domestic offices: $57.7 mil
    Return on assets (ROA): 2.19% ($1.6 mil)
    Quarterly return on assets: 2.29% ($1.6 mil)
    Return on Equity (ROE): 24.35% ($1.7 mil)
    Quarterly return on equity: 25.00% ($1.8 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 2.30% ($1,632.2 mil)
    Quarterly Pretax return on assets: 2.27% ($1,610.9 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
  • 20Total employees (full-time equivalent)
  • $70,964Total assets
  • $1,964Cash and due from depository institutions
  • $187Interest-bearing balances
  • $6,396Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $58,940Net loans & leases
  • $605Loan loss allowance
  • $0Trading account assets
  • $1,545Bank premises and fixed assets
  • $7Other real estate owned
  • $0Goodwill and other intangibles
  • $70,964Life insurance assets
  • $2,112All other assets
  • $64,265Total liabilities and capital
  • $57,748Total liabilities
  • $45,946Total deposits
  • $57,748Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 3000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,276Trading liabilities
  • $0Other borrowed funds
  • $241Subordinated debt
  • $6,699All other liabilities
  • $6,699Total equity capital
  • $6,699Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $3,400Surplus
  • $3,199Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $33Income earned, not collected on loans
  • $0Earning assets
  • $1,381Long-term assets (5+ years)
  • $65,523Average Assets, year-to-date
  • $10,904Average Assets, quarterly
  • $68,134Volatile liabilities
  • $71,728Insider loans
  • $61,251FHLB advances
  • $71,969Loans and leases held for sale
  • $124Unused loan commitments
  • $124Tier 1 (core) risk-based capital
  • $6,536Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $16,159Restructured Loans and leases
  • $581Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,227Total interest income
  • $619Total interest expense
  • $3,608Net interest income
  • $116Provision for loan and lease losses
  • $453Total noninterest income
  • $0Fiduciary activities
  • $296Service charges on deposit accounts
  • $0Trading account gains & fees
  • $157Additional noninterest income
  • $2,376Total noninterest expense
  • $1,444Salaries and employee benefits
  • $394Premises and equipment expense
  • $538Additional noninterest expense
  • $1,569Pre-tax net operating income
  • $1Securities gains (losses)
  • $78Applicable income taxes
  • $1,492Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,492Net income attributable to bank
  • $0Net charge-offs
  • $1,492Cash dividends
  • $38Sale, conversion, retirement of capital stock, net
  • $500Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.87%Yield on earning assets
  • 1.01%Cost of funding earning assets
  • 5.86%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 3.86%Noninterest expense to earning assets
  • 2.19%Net operating income to assets
  • 2.19%Return on assets (ROA)
  • 2.30%Pretax return on assets
  • 24.35%Return on equity (ROE)
  • 16.19%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 305.26%Credit loss provision to net charge-offs
  • 44.34%Efficiency ratio
  • 58,508Assets per employee
  • 3.55%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 33.51%Loss allowance to loans
  • 1.02%Loss allowance to noncurrent loans
  • 1833.33%Noncurrent assets plus other real estate owned to assets
  • 0.06%Noncurrent loans to loans
  • 0.06%Net loans and leases to deposits
  • 102.06%Net loans and leases to core deposits
  • 109.57%Equity capital to assets
  • 9.44%Core capital (leverage) ratio
  • 9.08%Tier 1 risk-based capital ratio
  • 10.67%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $68,134Average earning assets
  • $6,128Average equity
  • $61,523Average loans

List of branches

  • 4 South Dakota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05753Heartland State Bank302 East 7th Avenue, Redfield, SD 57469January 01, 1909Full Service Brick and Mortar
    1219298Tulare Branch109 Main Street, Tulare, SD 57476August 13, 1979Full Service Brick and Mortar
    2219299Highmore Branch112 Commercial Avenue, Highmore, SD 57345January 10, 1994Full Service Brick and Mortar
    3462466Wessington Branch165 Wessington Street S, Wessington, SD 57381April 02, 2007Full Service Brick and Mortar

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