Minnwest Bank Central in Montevideo, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Minnwest Bank Central - Overview

  • General
  • FDIC Certificate #: 1398
    Status: Active
    Federal Reserve ID: 699552
    Bank Holding Company (Regulatory Top Holder): Minnwest Corporation (RSSDID: 1141348, Location: Minnetonka, MN)
    Date Established: September 04, 1930
    WWW: http://www.minnwestbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 12430
    FDIC's unique #: 920
    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: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 15, 2008
    Last Structure Change Process Date: April 01, 2008
    Last Data Update: April 01, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 107 North First Street, Montevideo, MN 56265
    County: Chippewa
    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
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $319.8 mil
    Equity capital: $29.4 mil
    Deposits held in domestic offices: $254.3 mil
    Return on assets (ROA): 0.70% ($2.2 mil)
    Quarterly return on assets: 0.48% ($1.5 mil)
    Return on Equity (ROE): 7.65% ($2.2 mil)
    Quarterly return on equity: 5.10% ($1.5 mil)
    Net income: $2.2 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.08% ($3,453.8 mil)
    Quarterly Pretax return on assets: 0.72% ($2,302.6 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
  • 52Total employees (full-time equivalent)
  • $319,799Total assets
  • $15,567Cash and due from depository institutions
  • $13,382Interest-bearing balances
  • $28,658Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $255,447Net loans & leases
  • $2,757Loan loss allowance
  • $0Trading account assets
  • $1,632Bank premises and fixed assets
  • $9,621Other real estate owned
  • $234Goodwill and other intangibles
  • $319,799Life insurance assets
  • $8,640All other assets
  • $290,403Total liabilities and capital
  • $254,270Total liabilities
  • $223,983Total deposits
  • $254,270Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $34,587Trading liabilities
  • $0Other borrowed funds
  • $1,546Subordinated debt
  • $29,396All other liabilities
  • $29,396Total equity capital
  • $29,396Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $22,500Surplus
  • $6,396Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,689Income earned, not collected on loans
  • $0Earning assets
  • $4,282Long-term assets (5+ years)
  • $297,487Average Assets, year-to-date
  • $43,939Average Assets, quarterly
  • $319,932Volatile liabilities
  • $314,668Insider loans
  • $270,991FHLB advances
  • $311,691Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $28,946Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $77,136Restructured Loans and leases
  • $4,729Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,664Total interest income
  • $4,295Total interest expense
  • $10,369Net interest income
  • $120Provision for loan and lease losses
  • -$231Total noninterest income
  • $0Fiduciary activities
  • $570Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$801Additional noninterest income
  • $6,563Total noninterest expense
  • $3,054Salaries and employee benefits
  • $527Premises and equipment expense
  • $2,982Additional noninterest expense
  • $3,455Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,212Applicable income taxes
  • $2,243Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,243Net income attributable to bank
  • $0Net charge-offs
  • $2,243Cash dividends
  • $346Sale, conversion, retirement of capital stock, net
  • $2,200Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.96%Yield on earning assets
  • 1.45%Cost of funding earning assets
  • 3.50%Net interest margin
  • -0.08%Noninterest income to earning assets
  • 2.22%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 1.08%Pretax return on assets
  • 7.65%Return on equity (ROE)
  • 0.15%Retained earnings to average equity (YTD only)
  • 0.14%Net charge-offs to loans
  • 34.68%Credit loss provision to net charge-offs
  • 10.33%Efficiency ratio
  • 64,737Assets per employee
  • 6.15%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 98.08%Loss allowance to loans
  • 1.07%Loss allowance to noncurrent loans
  • 163.23%Noncurrent assets plus other real estate owned to assets
  • 3.54%Noncurrent loans to loans
  • 0.65%Net loans and leases to deposits
  • 100.46%Net loans and leases to core deposits
  • 114.65%Equity capital to assets
  • 9.19%Core capital (leverage) ratio
  • 9.29%Tier 1 risk-based capital ratio
  • 10.68%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $319,932Average earning assets
  • $29,322Average equity
  • $295,937Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0920Minnwest Bank Central107 North First Street, Montevideo, MN 56265September 04, 1930Full Service Brick and Mortar
    2189464Montevideo Branch1404 East State Highway 7, Montevideo, MN 56265November 15, 1993Full Service Brick and Mortar
    59732Dawson Branch579 Pine Street, Dawson, MN 56232July 18, 1931Full Service Brick and Mortar
    85995Minnwest Bank Ortonville Branch21 Se 2nd Street, Ortonville, MN 56278May 05, 1930Full Service Brick and Mortar

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