Merchants State Bank in Freeman, South Dakota (SD)

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Merchants State Bank routing number info

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Merchants State Bank
GeneralFDIC Certificate #: 1125
Status: Active
Federal Reserve ID: 289757
Bank Holding Company (Regulatory Top Holder): H & W Holding Company (RSSDID: 1363908, Location: Freeman, SD)
Date Established: August 08, 1899
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 767
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural 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: 305 S. Main St, Freeman, SD 57029
County: Hutchinson
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
History of ChangesChange in Location
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $138.7 mil
Equity capital: $11.8 mil
Deposits held in domestic offices: $121.6 mil
Return on assets (ROA): 0.96% ($1.3 mil)
Quarterly return on assets: 0.34% ($0.5 mil)
Return on Equity (ROE): 11.73% ($1.4 mil)
Quarterly return on equity: 3.84% ($0.5 mil)
Net income: $1.2 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 1.02% ($1,414.7 mil)
Quarterly Pretax return on assets: 0.40% ($554.8 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)33
Total assets$138,697
Cash and due from depository institutions$2,054
Interest-bearing balances$195
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$80,229
Loan loss allowance $1,031
Trading account assets$0
Bank premises and fixed assets$1,622
Other real estate owned$868
Goodwill and other intangibles$0
All other assets$4,696
Life insurance assets$138,697
Total liabilities and capital$126,848
Total liabilities$121,605
Total deposits$100,665
Interest-bearing deposits$121,605
Deposits held in domestic offices$83
% insured (estimated)916.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,500
Other borrowed funds $0
Subordinated debt $2,827
All other liabilities $11,849
Total equity capital$11,849
Total bank equity capital$11,849
Perpetual preferred stock$0
Common stock$55
Undivided profits $6,199
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,575
Earning assets $0
Long-term assets (5+ years) $1,621
Average Assets, year-to-date $129,652
Average Assets, quarterly $59,332
Volatile liabilities $129,724
Insider loans $134,914
FHLB advances $97,252
Loans and leases held for sale $136,616
Unused loan commitments $2,108
Tier 1 (core) risk-based capital $2,108
Tier 2 risk-based capital $10,712
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $18,253
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,621
Total interest expense $1,535
Net interest income $5,086
Provision for loan and lease losses $525
Total noninterest income $432
Fiduciary activities $0
Service charges on deposit accounts $330
Trading account gains & fees $0
Additional noninterest income $102
Total noninterest expense $3,737
Salaries and employee benefits $2,412
Premises and equipment expense $423
Additional noninterest expense $902
Pre-tax net operating income $1,256
Securities gains (losses) $67
Applicable income taxes $77
Income before extraordinary items $1,246
Extraordinary gains - net $0
Net income attributable to bank $1,246
Net charge-offs $0
Cash dividends $1,246
Sale, conversion, retirement of capital stock, net $507
Net operating income $500
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.47%
Cost of funding earning assets 1.27%
Net interest margin 4.20%
Noninterest income to earning assets 0.36%
Noninterest expense to earning assets 3.09%
Net operating income to assets 0.91%
Return on assets (ROA) 0.96%
Pretax return on assets 1.02%
Return on equity (ROE) 11.73%
Retained earnings to average equity (YTD only) 7.02%
Net charge-offs to loans 0.63%
Credit loss provision to net charge-offs 103.55%
Efficiency ratio3.51%
Assets per employee$67,724
Cash dividends to net income (YTD only)4.20%
Condition Ratios (%)
Loss allowance to loans 40.13%
Loss allowance to noncurrent loans 1.27%
Noncurrent assets plus other real estate owned to assets 65.46%
Noncurrent loans to loans 1.76%
Net loans and leases to deposits1.94%
Net loans and leases to core deposits 65.98%
Equity capital to assets 67.10%
Core capital (leverage) ratio 8.54%
Tier 1 risk-based capital ratio 7.84%
Total risk-based capital ratio 11.01%
Average assets$12
Average earning assets$129,724
Average equity $10,622
Average loans $120,958
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3 South Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0767Merchants State Bank305 S. Main St, Freeman, SD 57029August 08, 1899Full Service Brick and Mortar
1237274Hurley Branch308 Center Street, Hurley, SD 57036October 11, 1988Full Service Brick and Mortar
2340773Viborg Office Branch105 North Main Street, Viborg, SD 57070April 27, 2000Full Service Brick and Mortar
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