Minnwest Bank Ortonville in Ortonville, Minnesota (MN)

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Minnwest Bank Ortonville
GeneralFDIC Certificate #: 9344
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Minnwest Bank Central (#1398)
Federal Reserve ID: 753351
Date Established: May 05, 1930
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
OTS Docket #: 13915
FDIC's unique #: 5995
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
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
LocationAddress: 21 Se 2nd Street, Ortonville, MN 56278
County: Big Stone
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
Financial SummaryTotal assets: $96.4 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, 2007)
(Dollar figures in thousands)
Total employees (full-time equivalent)15
Total assets$96,428
Cash and due from depository institutions$2,919
Interest-bearing balances$53
Federal funds sold & reverse repurchase agreements$5,300
Net loans & leases$75,902
Loan loss allowance $756
Trading account assets$0
Bank premises and fixed assets$570
Other real estate owned$0
Goodwill and other intangibles$87
All other assets$2,654
Life insurance assets$0
Total liabilities and capital$96,428
Total liabilities$87,209
Total deposits$80,813
Interest-bearing deposits$71,394
Deposits held in domestic offices$80,813
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $4,905
Subordinated debt $0
All other liabilities $1,491
Total equity capital$9,219
Total bank equity capital$9,219
Perpetual preferred stock$9,219
Common stock$0
Undivided profits $5,250
Noncurrent loans and leases $3,469
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $20,933
Income earned, not collected on loans $0
Earning assets $244
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,904
Average Assets, quarterly $90,251
Volatile liabilities $6,900
Insider loans $90,793
FHLB advances $94,648
Loans and leases held for sale $8,044
Unused loan commitments $277
Tier 1 (core) risk-based capital $4,500
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $20,933
Restructured Loans and leases $0
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Income and Expense (December 31, 2007)
(Dollar figures in thousands)
Total interest income $6,569
Total interest expense $3,183
Net interest income $3,386
Provision for loan and lease losses -$430
Total noninterest income $265
Fiduciary activities $0
Service charges on deposit accounts $207
Trading account gains & fees $0
Additional noninterest income $58
Total noninterest expense $1,669
Salaries and employee benefits $904
Premises and equipment expense $117
Additional noninterest expense $648
Pre-tax net operating income $2,412
Securities gains (losses) $0
Applicable income taxes $915
Income before extraordinary items $1,497
Extraordinary gains - net $0
Net income attributable to bank $1,497
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $14
Net operating income $1,000
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Performance and Condition Ratios (December 31, 2007)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.69%
Cost of funding earning assets 3.73%
Net interest margin 3.97%
Noninterest income to earning assets 0.31%
Noninterest expense to earning assets 1.95%
Net operating income to assets 1.65%
Return on assets (ROA) 1.65%
Pretax return on assets 2.66%
Return on equity (ROE) 17.48%
Retained earnings to average equity (YTD only) 5.80%
Net charge-offs to loans 0.02%
Credit loss provision to net charge-offs -3071.43%
Efficiency ratio141.57%
Assets per employee$44,755
Cash dividends to net income (YTD only)6.43%
Condition Ratios (%)
Loss allowance to loans 66.80%
Loss allowance to noncurrent loans 0.99%
Noncurrent assets plus other real estate owned to assets 309.84%
Noncurrent loans to loans 0.25%
Net loans and leases to deposits0.32%
Net loans and leases to core deposits 93.92%
Equity capital to assets 104.31%
Core capital (leverage) ratio 9.56%
Tier 1 risk-based capital ratio 9.69%
Total risk-based capital ratio 11.62%
Average assets$13
Average earning assets$90,793
Average equity $8,566
Average loans $85,381
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