Lakewood Bank, National Association in Baxter, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 01, 2011

  • Lakewood Bank, National Association in Baxter, Minnesota (MN)
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Lakewood Bank, National Association - Overview

  • General
  • FDIC Certificate #: 18969
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: BlackRidgeBANK (#58580)
    Federal Reserve ID: 104056
    Date Established: December 06, 1963
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 5 (Interstate: No)
    FDIC's unique #: 12814
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: December 06, 1963
    Last Structure Change Effective Date: October 01, 2011
    Last Structure Change Process Date: November 29, 2011
    Last Data Update: November 29, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 14084 Baxter Drive, Ste 16, Baxter, MN 56425
    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
  • Financial Summary
  • Total assets: $140.1 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, 2010)

  • Dollar figures in thousands
  • 30Total employees (full-time equivalent)
  • $141,893Total assets
  • $1,988Cash and due from depository institutions
  • $145Interest-bearing balances
  • $10,345Securities
  • $10,086Federal funds sold & reverse repurchase agreements
  • $103,742Net loans & leases
  • $1,671Loan loss allowance
  • $0Trading account assets
  • $3,008Bank premises and fixed assets
  • $2,016Other real estate owned
  • $8,400Goodwill and other intangibles
  • $0Life insurance assets
  • $2,308All other assets
  • $141,893Total liabilities and capital
  • $121,880Total liabilities
  • $120,711Total deposits
  • $101,072Interest-bearing deposits
  • $120,711Deposits held in domestic offices
  • 92.40%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $834Other borrowed funds
  • $0Subordinated debt
  • $335All other liabilities
  • $20,013Total equity capital
  • $20,013Total bank equity capital
  • $20,013Perpetual preferred stock
  • $0Common stock
  • $273Surplus
  • $18,325Undivided profits
  • Memoranda
  • $1,415Noncurrent loans and leases
  • $9,855Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,504Earning assets
  • $0Long-term assets (5+ years)
  • $443Average Assets, year-to-date
  • $124,318Average Assets, quarterly
  • $7,444Volatile liabilities
  • $143,392Insider loans
  • $144,648FHLB advances
  • $21,297Loans and leases held for sale
  • $49Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $1,596Total risk weighted assets
  • $9,855Total unused commitments
  • $0Restructured Loans and leases
  • $1,281Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $7,338Total interest income
  • $2,022Total interest expense
  • $5,316Net interest income
  • $395Provision for loan and lease losses
  • $769Total noninterest income
  • $0Fiduciary activities
  • $350Service charges on deposit accounts
  • $0Trading account gains & fees
  • $419Additional noninterest income
  • $4,137Total noninterest expense
  • $1,829Salaries and employee benefits
  • $545Premises and equipment expense
  • $1,763Additional noninterest expense
  • $1,553Pre-tax net operating income
  • $0Securities gains (losses)
  • $659Applicable income taxes
  • $894Income before extraordinary items
  • $0Extraordinary gains - net
  • $894Net income attributable to bank
  • $0Net charge-offs
  • $894Cash dividends
  • $582Sale, conversion, retirement of capital stock, net
  • $700Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.87%Yield on earning assets
  • 1.62%Cost of funding earning assets
  • 4.25%Net interest margin
  • 0.61%Noninterest income to earning assets
  • 3.31%Noninterest expense to earning assets
  • 0.62%Net operating income to assets
  • 0.62%Return on assets (ROA)
  • 1.08%Pretax return on assets
  • 4.48%Return on equity (ROE)
  • 0.97%Retained earnings to average equity (YTD only)
  • 0.52%Net charge-offs to loans
  • 67.87%Credit loss provision to net charge-offs
  • 3.35%Efficiency ratio
  • 66,689Assets per employee
  • 4.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 78.30%Loss allowance to loans
  • 1.59%Loss allowance to noncurrent loans
  • 37.10%Noncurrent assets plus other real estate owned to assets
  • 4.60%Noncurrent loans to loans
  • 4.27%Net loans and leases to deposits
  • 85.94%Net loans and leases to core deposits
  • 103.49%Equity capital to assets
  • 14.10%Core capital (leverage) ratio
  • 8.57%Tier 1 risk-based capital ratio
  • 11.29%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $143,392Average earning assets
  • $19,938Average equity
  • $125,052Average loans

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