Lake Region Bank in New London, Minnesota (MN)

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Lake Region Bank
GeneralFDIC Certificate #: 10965
Status: Active
Federal Reserve ID: 164153
Bank Holding Company (Regulatory Top Holder): Kandi Bancshares, Inc. (RSSDID: 1125647, Location: New London, MN)
Date Established: January 12, 1915
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 12357
FDIC's unique #: 7020
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
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
LocationAddress: 51 Main Street, New London, MN 56273
County: Kandiyohi
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Mankato
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Willmar, MN (#48820)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $101.0 mil
Equity capital: $8.2 mil
Deposits held in domestic offices: $85.6 mil
Return on assets (ROA): 0.81% ($0.8 mil)
Quarterly return on assets: 0.41% ($0.4 mil)
Return on Equity (ROE): 10.34% ($0.8 mil)
Quarterly return on equity: 5.07% ($0.4 mil)
Net income: $0.8 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.82% ($828.1 mil)
Quarterly Pretax return on assets: 0.41% ($414.1 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)
Total employees (full-time equivalent)43
Total assets$100,992
Cash and due from depository institutions$15,457
Interest-bearing balances$13,098
Federal funds sold & reverse repurchase agreements$497
Net loans & leases$55,787
Loan loss allowance $706
Trading account assets$0
Bank premises and fixed assets$1,363
Other real estate owned$1,265
Goodwill and other intangibles$703
All other assets$2,655
Life insurance assets$100,992
Total liabilities and capital$92,801
Total liabilities$85,587
Total deposits$65,581
Interest-bearing deposits$85,587
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$7,000
Other borrowed funds $0
Subordinated debt $214
All other liabilities $8,191
Total equity capital$8,191
Total bank equity capital$8,191
Perpetual preferred stock$0
Common stock$650
Undivided profits $2,361
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $490
Income earned, not collected on loans $2,018
Earning assets $293
Long-term assets (5+ years) $439
Average Assets, year-to-date $92,647
Average Assets, quarterly $35,497
Volatile liabilities $97,841
Insider loans $99,373
FHLB advances $62,249
Loans and leases held for sale $98,519
Unused loan commitments $1,183
Tier 1 (core) risk-based capital $1,183
Tier 2 risk-based capital $7,069
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,256
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,311
Total interest expense $754
Net interest income $3,557
Provision for loan and lease losses $138
Total noninterest income $1,816
Fiduciary activities $0
Service charges on deposit accounts $444
Trading account gains & fees $0
Additional noninterest income $1,372
Total noninterest expense $4,857
Salaries and employee benefits $2,420
Premises and equipment expense $626
Additional noninterest expense $1,811
Pre-tax net operating income $378
Securities gains (losses) $420
Applicable income taxes $2
Income before extraordinary items $796
Extraordinary gains - net $0
Net income attributable to bank $796
Net charge-offs $0
Cash dividends $796
Sale, conversion, retirement of capital stock, net $78
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.88%
Cost of funding earning assets 0.85%
Net interest margin 4.02%
Noninterest income to earning assets 2.05%
Noninterest expense to earning assets 5.49%
Net operating income to assets 0.38%
Return on assets (ROA) 0.81%
Pretax return on assets 0.82%
Return on equity (ROE) 10.34%
Retained earnings to average equity (YTD only) 10.34%
Net charge-offs to loans 0.14%
Credit loss provision to net charge-offs 176.92%
Efficiency ratio6.62%
Assets per employee$89,503
Cash dividends to net income (YTD only)2.35%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.25%
Noncurrent assets plus other real estate owned to assets 34.99%
Noncurrent loans to loans 3.25%
Net loans and leases to deposits3.57%
Net loans and leases to core deposits 65.18%
Equity capital to assets 65.39%
Core capital (leverage) ratio 8.11%
Tier 1 risk-based capital ratio 7.18%
Total risk-based capital ratio 11.36%
Average assets$12
Average earning assets$97,841
Average equity $7,701
Average loans $88,402
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07020Lake Region Bank51 Main Street, New London, MN 56273January 12, 1915Full Service Brick and Mortar
1223525Detached Facility49 Front Street, Sunburg, MN 56289September 30, 1977Limited Service Facility
2223526Willmar Branch1690 South First Street, Willmar, MN 56201June 29, 1982Full Service Brick and Mortar
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