Lake Country State Bank in Long Prairie, Minnesota (MN)



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Lake Country State Bank
GeneralFDIC Certificate #: 10164
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Minnesota National Bank (#5249)
Federal Reserve ID: 96357
Date Established: Febuary 01, 1917
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 11596
FDIC's unique #: 6505
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: March 22, 2008
Last Structure Change Process Date: April 01, 2008
Last Data Update: April 01, 2008
Data Source Date: April 05, 2012
LocationAddress: 706 South Lake Street, Long Prairie, MN 56347
County: Todd
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial SummaryTotal assets: $74.5 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, 2007)
(Dollar figures in thousands)
Total employees (full-time equivalent)24
Total assets$74,501
Cash and due from depository institutions$2,292
Interest-bearing balances$31
Securities$23,769
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$38,081
Loan loss allowance $555
Trading account assets$0
Bank premises and fixed assets$3,096
Other real estate owned$411
Goodwill and other intangibles$5,842
All other assets$1,010
Life insurance assets$0
Total liabilities and capital$74,501
Total liabilities$62,016
Total deposits$56,530
Interest-bearing deposits$48,149
Deposits held in domestic offices$56,530
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $200
Trading liabilities$0
Other borrowed funds $4,900
Subordinated debt $0
All other liabilities $386
Total equity capital$12,485
Total bank equity capital$12,485
Perpetual preferred stock$12,485
Common stock$0
Surplus$85
Undivided profits $12,048
Memoranda
Noncurrent loans and leases $352
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,630
Income earned, not collected on loans $0
Earning assets $307
Long-term assets (5+ years) $0
Average Assets, year-to-date $551
Average Assets, quarterly $61,881
Volatile liabilities $19,267
Insider loans $79,757
FHLB advances $75,913
Loans and leases held for sale $15,276
Unused loan commitments $0
Tier 1 (core) risk-based capital $4,900
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $3,630
Restructured Loans and leases $0
Derivatives$555
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Income and Expense (December 31, 2007)
(Dollar figures in thousands)
Total interest income $1,347
Total interest expense $599
Net interest income $748
Provision for loan and lease losses $110
Total noninterest income $100
Fiduciary activities $0
Service charges on deposit accounts $69
Trading account gains & fees $0
Additional noninterest income $31
Total noninterest expense $700
Salaries and employee benefits $309
Premises and equipment expense $119
Additional noninterest expense $272
Pre-tax net operating income $38
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $38
Extraordinary gains - net $0
Net income attributable to bank $38
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $84
Net operating income $0
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Performance and Condition Ratios (December 31, 2007)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets1.92%
Cost of funding earning assets 0.85%
Net interest margin 1.06%
Noninterest income to earning assets 0.14%
Noninterest expense to earning assets 1.00%
Net operating income to assets 0.05%
Return on assets (ROA) 0.05%
Pretax return on assets 0.05%
Return on equity (ROE) 0.39%
Retained earnings to average equity (YTD only) 0.39%
Net charge-offs to loans 0.18%
Credit loss provision to net charge-offs 130.95%
Efficiency ratio1.76%
Assets per employee$82,547
Cash dividends to net income (YTD only)3.10%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.44%
Noncurrent assets plus other real estate owned to assets 180.78%
Noncurrent loans to loans 0.96%
Net loans and leases to deposits0.79%
Net loans and leases to core deposits 67.36%
Equity capital to assets 83.96%
Core capital (leverage) ratio 16.76%
Tier 1 risk-based capital ratio 9.11%
Total risk-based capital ratio 13.83%
Memoranda
Average assets$15
Average earning assets$79,757
Average equity $9,639
Average loans $70,319
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