North Country Bank, National Association in Mcclusky, North Dakota (ND)



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Table of contents:
North Country Bank, National Association
GeneralFDIC Certificate #: 3947
Status: Active
Federal Reserve ID: 942959
Bank Holding Company (Regulatory Top Holder): Davis Bancshares, Inc (RSSDID: 2339469, Location: Mcclusky, ND)
Date Established: Febuary 01, 1907
WWW: http://www.northcountrybanknd.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 2572
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 02, 2006
Last Structure Change Process Date: December 21, 2006
Last Data Update: December 21, 2006
Data Source Date: April 05, 2012
LocationAddress: 217 Main Street, Mcclusky, ND 58463
County: Sheridan
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of ChangesChange in Location
Financial SummaryTotal assets: $63.2 mil
Equity capital: $6.8 mil
Deposits held in domestic offices: $55.4 mil
Return on assets (ROA): 1.11% ($0.7 mil)
Quarterly return on assets: 1.01% ($0.6 mil)
Return on Equity (ROE): 10.20% ($0.7 mil)
Quarterly return on equity: 9.05% ($0.6 mil)
Net income: $0.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.18% ($746.2 mil)
Quarterly Pretax return on assets: 1.06% ($670.4 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)14
Total assets$63,241
Cash and due from depository institutions$5,904
Interest-bearing balances$604
Securities$16,637
Federal funds sold & reverse repurchase agreements$4,400
Net loans & leases$33,867
Loan loss allowance $404
Trading account assets$0
Bank premises and fixed assets$644
Other real estate owned$0
Goodwill and other intangibles$71
All other assets$1,718
Life insurance assets$63,241
Total liabilities and capital$56,455
Total liabilities$55,388
Total deposits$40,349
Interest-bearing deposits$55,388
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$800
Other borrowed funds $0
Subordinated debt $267
All other liabilities $6,786
Total equity capital$6,786
Total bank equity capital$6,786
Perpetual preferred stock$0
Common stock$100
Surplus$2,428
Undivided profits $4,258
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $104
Earning assets $0
Long-term assets (5+ years) $609
Average Assets, year-to-date $55,508
Average Assets, quarterly $17,854
Volatile liabilities $59,418
Insider loans $60,149
FHLB advances $40,949
Loans and leases held for sale $58,881
Unused loan commitments $671
Tier 1 (core) risk-based capital $671
Tier 2 risk-based capital $6,190
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $3,505
Derivatives$88
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,373
Total interest expense $367
Net interest income $2,006
Provision for loan and lease losses $33
Total noninterest income $244
Fiduciary activities $0
Service charges on deposit accounts $135
Trading account gains & fees $0
Additional noninterest income $109
Total noninterest expense $1,516
Salaries and employee benefits $868
Premises and equipment expense $285
Additional noninterest expense $363
Pre-tax net operating income $701
Securities gains (losses) $0
Applicable income taxes $44
Income before extraordinary items $657
Extraordinary gains - net $0
Net income attributable to bank $657
Net charge-offs $0
Cash dividends $657
Sale, conversion, retirement of capital stock, net $5
Net operating income $554
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.42%
Cost of funding earning assets 0.68%
Net interest margin 3.74%
Noninterest income to earning assets 0.45%
Noninterest expense to earning assets 2.82%
Net operating income to assets 1.11%
Return on assets (ROA) 1.11%
Pretax return on assets 1.18%
Return on equity (ROE) 10.20%
Retained earnings to average equity (YTD only) 1.60%
Net charge-offs to loans 0.02%
Credit loss provision to net charge-offs 660.00%
Efficiency ratio146.80%
Assets per employee$67,378
Cash dividends to net income (YTD only)4.52%
Condition Ratios (%)
Loss allowance to loans 84.32%
Loss allowance to noncurrent loans 1.18%
Noncurrent assets plus other real estate owned to assets 388.46%
Noncurrent loans to loans 0.16%
Net loans and leases to deposits0.30%
Net loans and leases to core deposits 61.15%
Equity capital to assets 61.91%
Core capital (leverage) ratio 10.73%
Tier 1 risk-based capital ratio 10.51%
Total risk-based capital ratio 15.12%
Memoranda
Average assets$16
Average earning assets$59,418
Average equity $6,440
Average loans $53,684
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5 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
02572North Country Bank, National Association217 Main Street, Mcclusky, ND 58463Febuary 01, 1907Full Service Brick and Mortar
1202176Mercer Branch109 Main Street, Mercer, ND 58559October 24, 1967Limited Service Facility
2426748Goodrich Branch101 Clark Avenue, Goodrich, ND 58444March 01, 2004Full Service Brick and Mortar
38079First Security Bank, Underwood Branch308 Lincoln Avenue, Underwood, ND 58576January 01, 1903Full Service Brick and Mortar
4227851Paying And Receiveing302 2nd Street, Riverdale, ND 58565August 31, 1987Limited Service Facility
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