Northeast Bank in Minneapolis, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Northeast Bank - Overview

  • General
  • FDIC Certificate #: 16659
    Status: Active
    Federal Reserve ID: 689357
    Bank Holding Company (Regulatory Top Holder): Northeast Securities Corporation (RSSDID: 1122422, Location: Minneapolis, MN)
    Date Established: January 03, 1948
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 14192
    FDIC's unique #: 10792
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 03, 1948
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 77 Broadway Street, N.E., Minneapolis, MN 55413
    County: Hennepin
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Minneapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
    CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $351.7 mil
    Equity capital: $42.0 mil
    Deposits held in domestic offices: $271.3 mil
    Return on assets (ROA): 0.83% ($2.9 mil)
    Quarterly return on assets: 0.86% ($3.0 mil)
    Return on Equity (ROE): 7.46% ($3.1 mil)
    Quarterly return on equity: 7.32% ($3.1 mil)
    Net income: $3.0 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.23% ($4,325.9 mil)
    Quarterly Pretax return on assets: 1.30% ($4,572.1 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
  • 70Total employees (full-time equivalent)
  • $351,701Total assets
  • $32,873Cash and due from depository institutions
  • $21,695Interest-bearing balances
  • $48,723Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $255,945Net loans & leases
  • $8,300Loan loss allowance
  • $0Trading account assets
  • $1,724Bank premises and fixed assets
  • $4,967Other real estate owned
  • $235Goodwill and other intangibles
  • $351,701Life insurance assets
  • $7,234All other assets
  • $309,670Total liabilities and capital
  • $271,345Total liabilities
  • $183,586Total deposits
  • $271,345Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 17030.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $17,000Trading liabilities
  • $0Other borrowed funds
  • $4,295Subordinated debt
  • $42,031All other liabilities
  • $42,031Total equity capital
  • $42,031Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $36,050Surplus
  • $5,781Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,773Income earned, not collected on loans
  • $0Earning assets
  • $1,005Long-term assets (5+ years)
  • $326,363Average Assets, year-to-date
  • $44,705Average Assets, quarterly
  • $362,450Volatile liabilities
  • $355,730Insider loans
  • $285,581FHLB advances
  • $353,290Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $37,612Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $36,500Restructured Loans and leases
  • $5,934Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $17,521Total interest income
  • $2,315Total interest expense
  • $15,206Net interest income
  • $1,286Provision for loan and lease losses
  • $2,467Total noninterest income
  • $0Fiduciary activities
  • $1,144Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,323Additional noninterest income
  • $12,028Total noninterest expense
  • $6,926Salaries and employee benefits
  • $901Premises and equipment expense
  • $4,201Additional noninterest expense
  • $4,359Pre-tax net operating income
  • $94Securities gains (losses)
  • $1,444Applicable income taxes
  • $3,009Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,009Net income attributable to bank
  • $0Net charge-offs
  • $3,009Cash dividends
  • $3,133Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.34%Yield on earning assets
  • 0.71%Cost of funding earning assets
  • 4.64%Net interest margin
  • 0.75%Noninterest income to earning assets
  • 3.67%Noninterest expense to earning assets
  • 0.81%Net operating income to assets
  • 0.83%Return on assets (ROA)
  • 1.23%Pretax return on assets
  • 7.46%Return on equity (ROE)
  • 7.46%Retained earnings to average equity (YTD only)
  • 1.14%Net charge-offs to loans
  • 41.05%Credit loss provision to net charge-offs
  • 1.80%Efficiency ratio
  • 67,940Assets per employee
  • 5.02%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.14%Loss allowance to noncurrent loans
  • 122.55%Noncurrent assets plus other real estate owned to assets
  • 3.34%Noncurrent loans to loans
  • 2.56%Net loans and leases to deposits
  • 94.32%Net loans and leases to core deposits
  • 94.45%Equity capital to assets
  • 11.95%Core capital (leverage) ratio
  • 10.65%Tier 1 risk-based capital ratio
  • 13.17%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $362,450Average earning assets
  • $40,321Average equity
  • $328,061Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010792Northeast Bank77 Broadway Street, N.E., Minneapolis, MN 55413January 03, 1948Full Service Brick and Mortar
    1238535Columbia Heights Branch3989 Central Avenue, N.E., Columbia Heights, MN 55421May 30, 1978Full Service Brick and Mortar
    2238536Coon Rapids Branch200 Coon Rapids Boulevard, Coon Rapids, MN 55433Febuary 05, 1990Full Service Brick and Mortar

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