FDIC Certificate #: 9744 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Stearns Bank National Association (#10988) Federal Reserve ID: 89452 Date Established: June 01, 1915 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 13024 FDIC's unique #: 6232 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: June 26, 2009 Last Structure Change Process Date: June 29, 2009 Last Data Update: June 29, 2009 Data Source Date: April 05, 2012
Location
Address: 600 Hillside Avenue Sw, Pine City, MN 55063 County: Pine Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West
Financial Summary
Total assets: $84.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
21Total employees (full-time equivalent)
$92,845Total assets
$4,069Cash and due from depository institutions
$106Interest-bearing balances
$4,865Securities
$3,000Federal funds sold & reverse repurchase agreements
$71,385Net loans & leases
$2,582Loan loss allowance
$0Trading account assets
$3,123Bank premises and fixed assets
$4,662Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,741All other assets
$92,845Total liabilities and capital
$87,989Total liabilities
$73,504Total deposits
$69,368Interest-bearing deposits
$73,504Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$14,106Other borrowed funds
$0Subordinated debt
$379All other liabilities
$4,856Total equity capital
$4,856Total bank equity capital
$4,856Perpetual preferred stock
$0Common stock
$225Surplus
$6,100Undivided profits
Memoranda
$-1,469Noncurrent loans and leases
$6,187Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$9,626Earning assets
$0Long-term assets (5+ years)
$718Average Assets, year-to-date
$79,356Average Assets, quarterly
$7,100Volatile liabilities
$93,432Insider loans
$93,059FHLB advances
$19,426Loans and leases held for sale
$1,016Unused loan commitments
$14,106Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$6,187Total unused commitments
$474Restructured Loans and leases
$974Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$5,585Total interest income
$3,131Total interest expense
$2,454Net interest income
$1,782Provision for loan and lease losses
$24Total noninterest income
$0Fiduciary activities
$230Service charges on deposit accounts
$0Trading account gains & fees
-$206Additional noninterest income
$3,875Total noninterest expense
$1,531Salaries and employee benefits
$753Premises and equipment expense
$1,591Additional noninterest expense
-$3,179Pre-tax net operating income
$137Securities gains (losses)
$3Applicable income taxes
-$3,045Income before extraordinary items
$0Extraordinary gains - net
-$3,045Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$721Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.86%Yield on earning assets
3.85%Cost of funding earning assets
3.02%Net interest margin
0.03%Noninterest income to earning assets
4.76%Noninterest expense to earning assets
-3.41%Net operating income to assets
-3.26%Return on assets (ROA)
-3.26%Pretax return on assets
-45.03%Return on equity (ROE)
-45.03%Retained earnings to average equity (YTD only)
0.97%Net charge-offs to loans
247.16%Credit loss provision to net charge-offs
-1.94%Efficiency ratio
156,376Assets per employee
4.42%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.49%Loss allowance to noncurrent loans
26.82%Noncurrent assets plus other real estate owned to assets
15.39%Noncurrent loans to loans
13.01%Net loans and leases to deposits
97.12%Net loans and leases to core deposits
132.00%Equity capital to assets
5.23%Core capital (leverage) ratio
5.00%Tier 1 risk-based capital ratio
6.26%Total risk-based capital ratio
Memoranda
$8Average assets
$93,432Average earning assets
$6,762Average equity
$81,357Average loans
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