Mills Resolute Bank in Sanborn, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


Mills Resolute Bank - Overview

  • General
  • FDIC Certificate #: 1386
    Status: Active
    Federal Reserve ID: 799359
    Bank Holding Company (Regulatory Top Holder): Mills Financial Services, Inc. (RSSDID: 3666023, Location: Brainerd, MN)
    Date Established: November 14, 1901
    WWW: http://www.millsresolutebank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 11818
    FDIC's unique #: 909
    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: September 29, 2008
    Last Structure Change Process Date: December 05, 2008
    Last Data Update: December 05, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 100 S Main St, Sanborn, MN 56083
    County: Redwood
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Change in Location
    Name Change
  • Financial Summary
  • Total assets: $24.2 mil
    Equity capital: $2.4 mil
    Deposits held in domestic offices: $18.8 mil
    Return on assets (ROA): 0.67% ($0.2 mil)
    Quarterly return on assets: 0.60% ($0.1 mil)
    Return on Equity (ROE): 6.05% ($0.1 mil)
    Quarterly return on equity: 5.81% ($0.1 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.67% ($162.0 mil)
    Quarterly Pretax return on assets: 0.60% ($145.1 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
  • 5Total employees (full-time equivalent)
  • $24,183Total assets
  • $3,404Cash and due from depository institutions
  • $2,132Interest-bearing balances
  • $2,396Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $16,826Net loans & leases
  • $163Loan loss allowance
  • $0Trading account assets
  • $119Bank premises and fixed assets
  • $37Other real estate owned
  • $983Goodwill and other intangibles
  • $24,183Life insurance assets
  • $418All other assets
  • $21,761Total liabilities and capital
  • $18,808Total liabilities
  • $13,996Total deposits
  • $18,808Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 200.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,710Trading liabilities
  • $0Other borrowed funds
  • $43Subordinated debt
  • $2,422All other liabilities
  • $2,422Total equity capital
  • $2,422Total bank equity capital
  • $0Perpetual preferred stock
  • $250Common stock
  • $2,034Surplus
  • $138Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $103Income earned, not collected on loans
  • $0Earning assets
  • $213Long-term assets (5+ years)
  • $21,354Average Assets, year-to-date
  • $5,459Average Assets, quarterly
  • $21,262Volatile liabilities
  • $23,141Insider loans
  • $16,334FHLB advances
  • $21,602Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $1,443Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,663Restructured Loans and leases
  • $32Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $861Total interest income
  • $217Total interest expense
  • $644Net interest income
  • $108Provision for loan and lease losses
  • $125Total noninterest income
  • $0Fiduciary activities
  • $16Service charges on deposit accounts
  • $0Trading account gains & fees
  • $109Additional noninterest income
  • $519Total noninterest expense
  • $243Salaries and employee benefits
  • $48Premises and equipment expense
  • $228Additional noninterest expense
  • $142Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $142Income before extraordinary items
  • $0Extraordinary gains - net
  • $142Net income attributable to bank
  • $0Net charge-offs
  • $142Cash dividends
  • $73Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.66%Yield on earning assets
  • 1.17%Cost of funding earning assets
  • 3.48%Net interest margin
  • 0.68%Noninterest income to earning assets
  • 2.81%Noninterest expense to earning assets
  • 0.67%Net operating income to assets
  • 0.67%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 6.05%Return on equity (ROE)
  • 6.05%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 147.95%Credit loss provision to net charge-offs
  • 3.42%Efficiency ratio
  • 67,490Assets per employee
  • 4.84%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.96%Loss allowance to noncurrent loans
  • 158.25%Noncurrent assets plus other real estate owned to assets
  • 0.58%Noncurrent loans to loans
  • 0.61%Net loans and leases to deposits
  • 89.46%Net loans and leases to core deposits
  • 90.87%Equity capital to assets
  • 10.02%Core capital (leverage) ratio
  • 6.68%Tier 1 risk-based capital ratio
  • 8.83%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $21,262Average earning assets
  • $2,346Average equity
  • $18,485Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0909Mills Resolute Bank100 S Main St, Sanborn, MN 56083November 14, 1901Full Service Brick and Mortar

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