Midwest Heritage Bank, FSB in West Des Moines, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Midwest Heritage Bank, FSB in West Des Moines, Iowa (IA)
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Midwest Heritage Bank, FSB - Overview

  • General
  • FDIC Certificate #: 4432
    Status: Active
    Federal Reserve ID: 203043
    Date Established: April 01, 1930
    WWW: http://www.mhbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 12423
    FDIC's unique #: 2928
    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: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: Febuary 09, 1995
    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: 3580 Ep True Parkway, Suite 100, West Des Moines, IA 50265
    County: Polk
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Des Moines, IA (#2120)
    Combined Statistical Area (CSA): Des Moines-Newton-Pella, IA (#218)
    Core Based Statistical Area (CBSA): Des Moines-West Des Moines, IA (#19780)
    CBSA Metro Statistical Area: Des Moines-West Des Moines, IA (#19780)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $154.4 mil
    Equity capital: $17.5 mil
    Deposits held in domestic offices: $128.8 mil
    Return on assets (ROA): 0.85% ($1.3 mil)
    Quarterly return on assets: 1.20% ($1.8 mil)
    Return on Equity (ROE): 8.15% ($1.4 mil)
    Quarterly return on equity: 10.78% ($1.8 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.25% ($1,930.2 mil)
    Quarterly Pretax return on assets: 1.85% ($2,856.7 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
  • 83Total employees (full-time equivalent)
  • $154,418Total assets
  • $21,390Cash and due from depository institutions
  • $7,480Interest-bearing balances
  • $32,162Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $89,110Net loans & leases
  • $596Loan loss allowance
  • $1,427Trading account assets
  • $2,689Bank premises and fixed assets
  • $151Other real estate owned
  • $3,741Goodwill and other intangibles
  • $154,418Life insurance assets
  • $3,748All other assets
  • $136,943Total liabilities and capital
  • $128,823Total liabilities
  • $104,965Total deposits
  • $128,823Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,500Trading liabilities
  • $0Other borrowed funds
  • $3,620Subordinated debt
  • $17,475All other liabilities
  • $17,475Total equity capital
  • $17,475Total bank equity capital
  • $0Perpetual preferred stock
  • $2,060Common stock
  • $7,200Surplus
  • $8,215Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $245Income earned, not collected on loans
  • $0Earning assets
  • $1,376Long-term assets (5+ years)
  • $130,179Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $153,951Volatile liabilities
  • $155,509Insider loans
  • $88,330FHLB advances
  • $150,454Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,909Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $25,153Restructured Loans and leases
  • $15,053Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,939Total interest income
  • $988Total interest expense
  • $4,951Net interest income
  • $90Provision for loan and lease losses
  • $5,117Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • -$41Trading account gains & fees
  • $5,158Additional noninterest income
  • $8,059Total noninterest expense
  • $4,617Salaries and employee benefits
  • $1,850Premises and equipment expense
  • $1,592Additional noninterest expense
  • $1,919Pre-tax net operating income
  • $0Securities gains (losses)
  • $617Applicable income taxes
  • $1,302Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,302Net income attributable to bank
  • $0Net charge-offs
  • $1,302Cash dividends
  • $114Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.95%Yield on earning assets
  • 0.82%Cost of funding earning assets
  • 4.12%Net interest margin
  • 4.26%Noninterest income to earning assets
  • 6.71%Noninterest expense to earning assets
  • 0.85%Net operating income to assets
  • 0.85%Return on assets (ROA)
  • 1.25%Pretax return on assets
  • 8.15%Return on equity (ROE)
  • 8.15%Retained earnings to average equity (YTD only)
  • 0.13%Net charge-offs to loans
  • 78.95%Credit loss provision to net charge-offs
  • 17.62%Efficiency ratio
  • 77,900Assets per employee
  • 1.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.66%Loss allowance to noncurrent loans
  • 243.27%Noncurrent assets plus other real estate owned to assets
  • 0.26%Noncurrent loans to loans
  • 0.27%Net loans and leases to deposits
  • 69.17%Net loans and leases to core deposits
  • 69.32%Equity capital to assets
  • 11.32%Core capital (leverage) ratio
  • 9.04%Tier 1 risk-based capital ratio
  • 14.61%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $153,951Average earning assets
  • $15,967Average equity
  • $120,082Average loans

List of branches

  • 9 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    02928Midwest Heritage Bank, Fsb3580 Ep True Parkway, Suite 100, West Des Moines, IA 50265April 01, 1930Full Service Brick and Mortar
    3203684Ames Branch3800 West Lincoln Way, Ames, IA 50010March 19, 1996Full Service Brick and Mortar
    5203686Windsor Heights Branch7101 University, Windsor Heights, IA 50311May 05, 1998Full Service Brick and Mortar
    6203687Ames Branch640 Lincoln Way, Ames, IA 50010June 23, 1998Full Service Brick and Mortar
    720368874th Street Branch1725 74th Street, West Des Moines, IA 50266March 24, 1998Full Service Brick and Mortar
    10359059Urbandale Branch8601 Douglas Avenue, Urbandale, IA 50322July 01, 1999Full Service Brick and Mortar
    12456803South 52st Street Branch555 South 51st Street, West Des Moines, IA 50265April 25, 2006Full Service Brick and Mortar
    13491814Fleur Drive4605 Fleur Drive, Des Moines, IA 50321March 11, 2008Full Service Brick and Mortar
    14495014Chariton Branch1025 Braden Avenue, Chariton, IA 50049September 29, 2008Full Service Brick and Mortar

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