Midwest Bank in Detroit Lakes, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Midwest Bank in Detroit Lakes, Minnesota (MN)
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Midwest Bank - Overview

  • General
  • FDIC Certificate #: 9737
    Status: Active
    Federal Reserve ID: 806958
    Bank Holding Company (Regulatory Top Holder): Midwest Bank Group, Inc. (RSSDID: 1125580, Location: Detroit Lakes, MN)
    Date Established: June 01, 1917
    WWW: http://www.midwestbank.net
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 14221
    FDIC's unique #: 6227
    Numeric code: 21
    Regulator: FDIC
    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: 613 Highway 10 East, Detroit Lakes, MN 56501
    County: Becker
    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
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $299.8 mil
    Equity capital: $26.4 mil
    Deposits held in domestic offices: $265.2 mil
    Return on assets (ROA): 2.20% ($6.6 mil)
    Quarterly return on assets: 2.04% ($6.1 mil)
    Return on Equity (ROE): 24.15% ($6.3 mil)
    Quarterly return on equity: 22.68% ($5.9 mil)
    Net income: $6.1 mil
    Quarterly Net income: $1.5 mil
    Pretax return on assets: 2.20% ($6,595.6 mil)
    Quarterly Pretax return on assets: 2.04% ($6,116.0 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
  • 77Total employees (full-time equivalent)
  • $299,802Total assets
  • $9,747Cash and due from depository institutions
  • $1,271Interest-bearing balances
  • $19,874Securities
  • $12,375Federal funds sold & reverse repurchase agreements
  • $247,163Net loans & leases
  • $2,739Loan loss allowance
  • $0Trading account assets
  • $3,387Bank premises and fixed assets
  • $3,589Other real estate owned
  • $229Goodwill and other intangibles
  • $299,802Life insurance assets
  • $3,438All other assets
  • $273,415Total liabilities and capital
  • $265,192Total liabilities
  • $219,974Total deposits
  • $265,192Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,000Trading liabilities
  • $0Other borrowed funds
  • $1,223Subordinated debt
  • $26,387All other liabilities
  • $26,387Total equity capital
  • $26,387Total bank equity capital
  • $0Perpetual preferred stock
  • $250Common stock
  • $18,250Surplus
  • $7,887Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $4,453Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $739Income earned, not collected on loans
  • $0Earning assets
  • $1,726Long-term assets (5+ years)
  • $280,683Average Assets, year-to-date
  • $29,459Average Assets, quarterly
  • $279,191Volatile liabilities
  • $292,336Insider loans
  • $251,565FHLB advances
  • $291,963Loans and leases held for sale
  • $126Unused loan commitments
  • $126Tier 1 (core) risk-based capital
  • $25,931Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $64,515Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,995Total interest income
  • $3,098Total interest expense
  • $11,897Net interest income
  • $0Provision for loan and lease losses
  • $1,491Total noninterest income
  • $0Fiduciary activities
  • $769Service charges on deposit accounts
  • $0Trading account gains & fees
  • $722Additional noninterest income
  • $7,246Total noninterest expense
  • $4,193Salaries and employee benefits
  • $958Premises and equipment expense
  • $2,095Additional noninterest expense
  • $6,142Pre-tax net operating income
  • $8Securities gains (losses)
  • $5Applicable income taxes
  • $6,145Income before extraordinary items
  • $0Extraordinary gains - net
  • $6,145Net income attributable to bank
  • $0Net charge-offs
  • $6,145Cash dividends
  • $143Sale, conversion, retirement of capital stock, net
  • $4,995Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.74%Yield on earning assets
  • 1.19%Cost of funding earning assets
  • 4.56%Net interest margin
  • 0.57%Noninterest income to earning assets
  • 2.78%Noninterest expense to earning assets
  • 2.20%Net operating income to assets
  • 2.20%Return on assets (ROA)
  • 2.20%Pretax return on assets
  • 24.15%Return on equity (ROE)
  • 4.52%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 42.95%Efficiency ratio
  • 54,123Assets per employee
  • 3.89%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 81.29%Loss allowance to loans
  • 1.10%Loss allowance to noncurrent loans
  • 370.64%Noncurrent assets plus other real estate owned to assets
  • 1.44%Noncurrent loans to loans
  • 0.30%Net loans and leases to deposits
  • 93.20%Net loans and leases to core deposits
  • 102.06%Equity capital to assets
  • 8.80%Core capital (leverage) ratio
  • 8.88%Tier 1 risk-based capital ratio
  • 10.31%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $279,191Average earning assets
  • $25,447Average equity
  • $261,111Average loans

List of branches

  • 7 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06227Midwest Bank613 Highway 10 East, Detroit Lakes, MN 56501June 01, 1917Full Service Brick and Mortar
    1221092Callaway BranchMain And Wisconsin Streets, Callaway, MN 56521August 21, 1978Full Service Brick and Mortar
    2221093Barnesville Branch215 Front Street South, Barnesville, MN 56514Febuary 02, 1998Full Service Brick and Mortar
    3221094Waubun Branch1211 First Street, Waubun, MN 56589June 01, 1998Full Service Brick and Mortar
    4360052Detroit Lakes Wal-Mart Branch1583 Highway 10 West, Detroit Lakes, MN 56501Febuary 28, 2001Full Service Brick and Mortar
    53510Parkers Prairie Branch105 East Soo Street, Parkers Prairie, MN 56361May 03, 1903Full Service Brick and Mortar
    65644Dalton BranchMain Street, Dalton, MN 56324January 01, 1908Full Service Brick and Mortar

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