Lakes State Bank in Pequot Lakes, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Lakes State Bank - Overview

  • General
  • FDIC Certificate #: 1389
    Status: Active
    Federal Reserve ID: 1898419
    Bank Holding Company (Regulatory Top Holder): Walker Ban Co. (RSSDID: 1126318, Location: Walker, MN)
    Date Established: September 25, 1907
    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 #: 912
    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
  • Location
  • Address: 30886 Second Street, Pequot Lakes, MN 56472
    County: Crow Wing
    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): Brainerd, MN (#14660)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $102.2 mil
    Equity capital: $12.6 mil
    Deposits held in domestic offices: $89.4 mil
    Return on assets (ROA): 0.98% ($1.0 mil)
    Quarterly return on assets: 1.27% ($1.3 mil)
    Return on Equity (ROE): 8.19% ($1.1 mil)
    Quarterly return on equity: 10.58% ($1.4 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.98% ($1,001.5 mil)
    Quarterly Pretax return on assets: 1.27% ($1,297.9 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
  • 30Total employees (full-time equivalent)
  • $102,194Total assets
  • $6,455Cash and due from depository institutions
  • $2,603Interest-bearing balances
  • $13,207Securities
  • $8,000Federal funds sold & reverse repurchase agreements
  • $66,554Net loans & leases
  • $869Loan loss allowance
  • $0Trading account assets
  • $2,829Bank premises and fixed assets
  • $2,184Other real estate owned
  • $1,816Goodwill and other intangibles
  • $102,194Life insurance assets
  • $1,149All other assets
  • $89,631Total liabilities and capital
  • $89,419Total liabilities
  • $77,401Total deposits
  • $89,419Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $212Subordinated debt
  • $12,563All other liabilities
  • $12,563Total equity capital
  • $12,563Total bank equity capital
  • $0Perpetual preferred stock
  • $40Common stock
  • $6,960Surplus
  • $5,563Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $431Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $899Income earned, not collected on loans
  • $0Earning assets
  • $377Long-term assets (5+ years)
  • $90,364Average Assets, year-to-date
  • $2,321Average Assets, quarterly
  • $102,496Volatile liabilities
  • $104,372Insider loans
  • $67,847FHLB advances
  • $102,226Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,696Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,763Restructured Loans and leases
  • $760Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,973Total interest income
  • $869Total interest expense
  • $4,104Net interest income
  • $620Provision for loan and lease losses
  • $1,267Total noninterest income
  • $0Fiduciary activities
  • $345Service charges on deposit accounts
  • $0Trading account gains & fees
  • $922Additional noninterest income
  • $3,749Total noninterest expense
  • $2,102Salaries and employee benefits
  • $530Premises and equipment expense
  • $1,117Additional noninterest expense
  • $1,002Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • $1,000Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,000Net income attributable to bank
  • $0Net charge-offs
  • $1,000Cash dividends
  • $585Sale, conversion, retirement of capital stock, net
  • $430Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.46%Yield on earning assets
  • 0.95%Cost of funding earning assets
  • 4.51%Net interest margin
  • 1.39%Noninterest income to earning assets
  • 4.12%Noninterest expense to earning assets
  • 0.98%Net operating income to assets
  • 0.98%Return on assets (ROA)
  • 0.98%Pretax return on assets
  • 8.19%Return on equity (ROE)
  • 4.67%Retained earnings to average equity (YTD only)
  • 0.87%Net charge-offs to loans
  • 105.98%Credit loss provision to net charge-offs
  • 2.77%Efficiency ratio
  • 69,801Assets per employee
  • 3.41%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 43.00%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 96.66%Noncurrent assets plus other real estate owned to assets
  • 3.02%Noncurrent loans to loans
  • 1.33%Net loans and leases to deposits
  • 74.43%Net loans and leases to core deposits
  • 82.22%Equity capital to assets
  • 12.29%Core capital (leverage) ratio
  • 10.46%Tier 1 risk-based capital ratio
  • 15.76%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $102,496Average earning assets
  • $12,214Average equity
  • $91,034Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0912Lakes State Bank30886 Second Street, Pequot Lakes, MN 56472September 25, 1907Full Service Brick and Mortar
    4189455Crosslake Branch35197 County Rd 3, Crosslake, MN 56442December 18, 1995Full Service Brick and Mortar

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