FDIC Certificate #: 29049 Status: Active Federal Reserve ID: 890078 Date Established: July 01, 1934 WWW:http://www.lcfederal.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 2828 FDIC's unique #: 41883 Numeric code: 38 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: October 26, 1934 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012
Location
Address: 201 East Marion Street, Lake City, MN 55041 County: Wabasha 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 Core Based Statistical Area (CBSA): Rochester, MN (#40340) CBSA Metro Statistical Area: Rochester, MN (#40340)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $76.7 mil Equity capital: $7.1 mil Deposits held in domestic offices: $56.1 mil Return on assets (ROA): -0.06% (-$0.0 mil) Quarterly return on assets: -0.08% (-$0.1 mil) Return on Equity (ROE): -0.61% (-$0.0 mil) Quarterly return on equity: -0.84% (-$0.1 mil) Net income: -$0.0 mil Quarterly Net income: -$0.0 mil Pretax return on assets: 0.01% ($7.7 mil) Quarterly Pretax return on assets: -0.27% (-$207.0 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
17Total employees (full-time equivalent)
$76,655Total assets
$8,368Cash and due from depository institutions
$7,795Interest-bearing balances
$4,898Securities
$0Federal funds sold & reverse repurchase agreements
$57,874Net loans & leases
$1,147Loan loss allowance
$0Trading account assets
$2,749Bank premises and fixed assets
$872Other real estate owned
$0Goodwill and other intangibles
$76,655Life insurance assets
$1,894All other assets
$69,540Total liabilities and capital
$56,118Total liabilities
$51,439Total deposits
$56,118Interest-bearing deposits
$100Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$12,500Trading liabilities
$0Other borrowed funds
$922Subordinated debt
$7,115All other liabilities
$7,115Total equity capital
$7,115Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$0Surplus
$7,115Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$3,592Income earned, not collected on loans
$0Earning assets
$266Long-term assets (5+ years)
$70,567Average Assets, year-to-date
$0Average Assets, quarterly
$78,158Volatile liabilities
$76,687Insider loans
$47,617FHLB advances
$76,411Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$6,871Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$5,106Restructured Loans and leases
$145Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$4,006Total interest income
$1,343Total interest expense
$2,663Net interest income
$87Provision for loan and lease losses
$126Total noninterest income
$0Fiduciary activities
$15Service charges on deposit accounts
$0Trading account gains & fees
$111Additional noninterest income
$2,695Total noninterest expense
$1,004Salaries and employee benefits
$523Premises and equipment expense
$1,168Additional noninterest expense
$7Pre-tax net operating income
$0Securities gains (losses)
$50Applicable income taxes
-$43Income before extraordinary items
$0Extraordinary gains - net
-$43Net income attributable to bank
$0Net charge-offs
-$43Cash dividends
-$181Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.60%Yield on earning assets
1.88%Cost of funding earning assets
3.72%Net interest margin
0.18%Noninterest income to earning assets
3.77%Noninterest expense to earning assets
-0.06%Net operating income to assets
-0.06%Return on assets (ROA)
0.01%Pretax return on assets
-0.61%Return on equity (ROE)
-0.61%Retained earnings to average equity (YTD only)
-0.29%Net charge-offs to loans
-48.07%Credit loss provision to net charge-offs
0.00%Efficiency ratio
96,630Assets per employee
4.51%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.94%Loss allowance to noncurrent loans
31.93%Noncurrent assets plus other real estate owned to assets
5.82%Noncurrent loans to loans
6.09%Net loans and leases to deposits
103.13%Net loans and leases to core deposits
103.13%Equity capital to assets
9.28%Core capital (leverage) ratio
8.99%Tier 1 risk-based capital ratio
14.43%Total risk-based capital ratio
Memoranda
$16Average assets
$78,158Average earning assets
$7,101Average equity
$71,511Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
41883
Lake City Federal Bank
201 East Marion Street, Lake City, MN 55041
July 01, 1934
Full Service Brick and Mortar
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