Mid-Central Federal Savings Bank in Wadena, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Mid-Central Federal Savings Bank in Wadena, Minnesota (MN)
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Mid-Central Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 30943
    Status: Active
    Federal Reserve ID: 773171
    Date Established: March 11, 1957
    WWW: http://www.midcentralbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 6149
    FDIC's unique #: 43777
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: March 11, 1957
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 520 South Jefferson St, Wadena, MN 56482
    County: Wadena
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Fargo
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $97.1 mil
    Equity capital: $7.9 mil
    Deposits held in domestic offices: $82.7 mil
    Return on assets (ROA): 1.08% ($1.0 mil)
    Quarterly return on assets: 1.45% ($1.4 mil)
    Return on Equity (ROE): 13.98% ($1.1 mil)
    Quarterly return on equity: 17.87% ($1.4 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.08% ($1,049.1 mil)
    Quarterly Pretax return on assets: 1.45% ($1,408.6 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
  • 38Total employees (full-time equivalent)
  • $97,143Total assets
  • $8,677Cash and due from depository institutions
  • $5,315Interest-bearing balances
  • $1,654Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $81,416Net loans & leases
  • $960Loan loss allowance
  • $0Trading account assets
  • $2,662Bank premises and fixed assets
  • $1,459Other real estate owned
  • $0Goodwill and other intangibles
  • $97,143Life insurance assets
  • $1,275All other assets
  • $89,194Total liabilities and capital
  • $82,690Total liabilities
  • $77,691Total deposits
  • $82,690Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,000Trading liabilities
  • $0Other borrowed funds
  • $504Subordinated debt
  • $7,949All other liabilities
  • $7,949Total equity capital
  • $7,949Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $1,432Surplus
  • $6,417Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $850Income earned, not collected on loans
  • $0Earning assets
  • $508Long-term assets (5+ years)
  • $88,385Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $97,557Volatile liabilities
  • $96,553Insider loans
  • $59,784FHLB advances
  • $97,143Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,949Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,766Restructured Loans and leases
  • $816Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,576Total interest income
  • $1,218Total interest expense
  • $4,358Net interest income
  • $266Provision for loan and lease losses
  • $431Total noninterest income
  • $0Fiduciary activities
  • $409Service charges on deposit accounts
  • $0Trading account gains & fees
  • $22Additional noninterest income
  • $3,466Total noninterest expense
  • $2,129Salaries and employee benefits
  • $516Premises and equipment expense
  • $821Additional noninterest expense
  • $1,057Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $1,057Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,057Net income attributable to bank
  • $0Net charge-offs
  • $1,057Cash dividends
  • -$112Sale, conversion, retirement of capital stock, net
  • $368Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.28%Yield on earning assets
  • 1.37%Cost of funding earning assets
  • 4.91%Net interest margin
  • 0.49%Noninterest income to earning assets
  • 3.90%Noninterest expense to earning assets
  • 1.08%Net operating income to assets
  • 1.08%Return on assets (ROA)
  • 1.08%Pretax return on assets
  • 13.98%Return on equity (ROE)
  • 9.11%Retained earnings to average equity (YTD only)
  • -0.14%Net charge-offs to loans
  • -237.50%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 72,374Assets per employee
  • 2.56%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 34.82%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 112.94%Noncurrent assets plus other real estate owned to assets
  • 2.38%Noncurrent loans to loans
  • 1.03%Net loans and leases to deposits
  • 98.46%Net loans and leases to core deposits
  • 99.82%Equity capital to assets
  • 8.18%Core capital (leverage) ratio
  • 8.18%Tier 1 risk-based capital ratio
  • 13.30%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $97,557Average earning assets
  • $7,561Average equity
  • $88,844Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    043777Mid-Central Federal Savings Bank520 South Jefferson St, Wadena, MN 56482March 11, 1957Full Service Brick and Mortar
    1282701Long Prairie Branch610 Lake St S., Long Prairie, MN 56347March 11, 1957Full Service Brick and Mortar
    2282702Staples Branch128 2nd Avenue West, Staples, MN 56479March 11, 1957Full Service Brick and Mortar

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