Lake Country Community Bank in Morristown, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Lake Country Community Bank in Morristown, Minnesota (MN)
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Lake Country Community Bank - Overview

  • General
  • FDIC Certificate #: 17122
    Status: Active
    Federal Reserve ID: 706450
    Bank Holding Company (Regulatory Top Holder): Morristown Holding Company (RSSDID: 1142868, Location: Excelsior, MN)
    Date Established: May 02, 1928
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 11165
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: July 01, 1952
    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: 111 Division Street, Morristown, MN 55052
    County: Rice
    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
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Faribault-Northfield, MN (#22060)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $28.3 mil
    Equity capital: $2.0 mil
    Deposits held in domestic offices: $24.0 mil
    Return on assets (ROA): 0.11% ($0.0 mil)
    Quarterly return on assets: 0.16% ($0.0 mil)
    Return on Equity (ROE): 1.72% ($0.0 mil)
    Quarterly return on equity: 2.35% ($0.0 mil)
    Net income: $0.0 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.15% ($42.5 mil)
    Quarterly Pretax return on assets: 0.24% ($68.0 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
  • 8Total employees (full-time equivalent)
  • $28,330Total assets
  • $3,871Cash and due from depository institutions
  • $1,662Interest-bearing balances
  • $325Securities
  • $2,445Federal funds sold & reverse repurchase agreements
  • $18,429Net loans & leases
  • $979Loan loss allowance
  • $0Trading account assets
  • $217Bank premises and fixed assets
  • $1,163Other real estate owned
  • $0Goodwill and other intangibles
  • $28,330Life insurance assets
  • $1,880All other assets
  • $26,285Total liabilities and capital
  • $23,975Total liabilities
  • $19,275Total deposits
  • $23,975Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,066Trading liabilities
  • $0Other borrowed funds
  • $244Subordinated debt
  • $2,045All other liabilities
  • $2,045Total equity capital
  • $2,045Total bank equity capital
  • $0Perpetual preferred stock
  • $175Common stock
  • $2,875Surplus
  • $-1,005Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $295Income earned, not collected on loans
  • $0Earning assets
  • $91Long-term assets (5+ years)
  • $22,861Average Assets, year-to-date
  • $3,647Average Assets, quarterly
  • $30,633Volatile liabilities
  • $29,660Insider loans
  • $16,440FHLB advances
  • $27,937Loans and leases held for sale
  • $643Unused loan commitments
  • $643Tier 1 (core) risk-based capital
  • $1,234Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,017Restructured Loans and leases
  • $370Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,484Total interest income
  • $391Total interest expense
  • $1,093Net interest income
  • $242Provision for loan and lease losses
  • $170Total noninterest income
  • $0Fiduciary activities
  • $69Service charges on deposit accounts
  • $0Trading account gains & fees
  • $101Additional noninterest income
  • $975Total noninterest expense
  • $475Salaries and employee benefits
  • $153Premises and equipment expense
  • $347Additional noninterest expense
  • $46Pre-tax net operating income
  • $0Securities gains (losses)
  • $11Applicable income taxes
  • $35Income before extraordinary items
  • $0Extraordinary gains - net
  • $35Net income attributable to bank
  • $0Net charge-offs
  • $35Cash dividends
  • $333Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.82%Yield on earning assets
  • 1.53%Cost of funding earning assets
  • 4.29%Net interest margin
  • 0.67%Noninterest income to earning assets
  • 3.83%Noninterest expense to earning assets
  • 0.11%Net operating income to assets
  • 0.11%Return on assets (ROA)
  • 0.15%Pretax return on assets
  • 1.72%Return on equity (ROE)
  • 1.72%Retained earnings to average equity (YTD only)
  • 1.54%Net charge-offs to loans
  • 72.67%Credit loss provision to net charge-offs
  • 0.86%Efficiency ratio
  • 77,197Assets per employee
  • 3.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.04%Loss allowance to noncurrent loans
  • 331.86%Noncurrent assets plus other real estate owned to assets
  • 5.15%Noncurrent loans to loans
  • 1.52%Net loans and leases to deposits
  • 76.87%Net loans and leases to core deposits
  • 76.87%Equity capital to assets
  • 7.22%Core capital (leverage) ratio
  • 4.42%Tier 1 risk-based capital ratio
  • 7.51%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $30,633Average earning assets
  • $2,035Average equity
  • $25,479Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011165Lake Country Community Bank111 Division Street, Morristown, MN 55052May 02, 1928Full Service Brick and Mortar
    2452515Nerstrand Branch313 Main St., Po Box 128, Nerstrand, MN 55053December 05, 2005Full Service Brick and Mortar

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