Merchants State Bank in Freeman, South Dakota (SD)
Overview, Financial Summary, Detailed Financial Reports, Branches

Merchants State Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 33Total employees (full-time equivalent)
  • $138,697Total assets
  • $2,054Cash and due from depository institutions
  • $195Interest-bearing balances
  • $49,228Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $80,229Net loans & leases
  • $1,031Loan loss allowance
  • $0Trading account assets
  • $1,622Bank premises and fixed assets
  • $868Other real estate owned
  • $0Goodwill and other intangibles
  • $138,697Life insurance assets
  • $4,696All other assets
  • $126,848Total liabilities and capital
  • $121,605Total liabilities
  • $100,665Total deposits
  • $121,605Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 916.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,500Trading liabilities
  • $0Other borrowed funds
  • $2,827Subordinated debt
  • $11,849All other liabilities
  • $11,849Total equity capital
  • $11,849Total bank equity capital
  • $0Perpetual preferred stock
  • $55Common stock
  • $5,595Surplus
  • $6,199Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,575Income earned, not collected on loans
  • $0Earning assets
  • $1,621Long-term assets (5+ years)
  • $129,652Average Assets, year-to-date
  • $59,332Average Assets, quarterly
  • $129,724Volatile liabilities
  • $134,914Insider loans
  • $97,252FHLB advances
  • $136,616Loans and leases held for sale
  • $2,108Unused loan commitments
  • $2,108Tier 1 (core) risk-based capital
  • $10,712Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,253Restructured Loans and leases
  • $1,639Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,621Total interest income
  • $1,535Total interest expense
  • $5,086Net interest income
  • $525Provision for loan and lease losses
  • $432Total noninterest income
  • $0Fiduciary activities
  • $330Service charges on deposit accounts
  • $0Trading account gains & fees
  • $102Additional noninterest income
  • $3,737Total noninterest expense
  • $2,412Salaries and employee benefits
  • $423Premises and equipment expense
  • $902Additional noninterest expense
  • $1,256Pre-tax net operating income
  • $67Securities gains (losses)
  • $77Applicable income taxes
  • $1,246Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,246Net income attributable to bank
  • $0Net charge-offs
  • $1,246Cash dividends
  • $507Sale, conversion, retirement of capital stock, net
  • $500Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.47%Yield on earning assets
  • 1.27%Cost of funding earning assets
  • 4.20%Net interest margin
  • 0.36%Noninterest income to earning assets
  • 3.09%Noninterest expense to earning assets
  • 0.91%Net operating income to assets
  • 0.96%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 11.73%Return on equity (ROE)
  • 7.02%Retained earnings to average equity (YTD only)
  • 0.63%Net charge-offs to loans
  • 103.55%Credit loss provision to net charge-offs
  • 3.51%Efficiency ratio
  • 67,724Assets per employee
  • 4.20%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 40.13%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 65.46%Noncurrent assets plus other real estate owned to assets
  • 1.76%Noncurrent loans to loans
  • 1.94%Net loans and leases to deposits
  • 65.98%Net loans and leases to core deposits
  • 67.10%Equity capital to assets
  • 8.54%Core capital (leverage) ratio
  • 7.84%Tier 1 risk-based capital ratio
  • 11.01%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $129,724Average earning assets
  • $10,622Average equity
  • $120,958Average loans

List of branches

  • 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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