Northeast Security Bank in Sumner, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Northeast Security Bank - Overview

  • General
  • FDIC Certificate #: 18384
    Status: Active
    Federal Reserve ID: 442244
    Bank Holding Company (Regulatory Top Holder): Independence Bancshares, Inc. (RSSDID: 1206201, Location: Independence, IA)
    Date Established: January 01, 1888
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 12274
    FDIC's unique #: 12292
    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: May 11, 1961
    Last Structure Change Effective Date: April 01, 2008
    Last Structure Change Process Date: April 04, 2008
    Last Data Update: April 04, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 108 North Carpenter, Sumner, IA 50674
    County: Bremer
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Core Based Statistical Area (CBSA): Waterloo-Cedar Falls, IA (#47940)
    CBSA Metro Statistical Area: Waterloo-Cedar Falls, IA (#47940)
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $119.3 mil
    Equity capital: $13.6 mil
    Deposits held in domestic offices: $95.5 mil
    Return on assets (ROA): 1.13% ($1.3 mil)
    Quarterly return on assets: 1.20% ($1.4 mil)
    Return on Equity (ROE): 10.47% ($1.5 mil)
    Quarterly return on equity: 10.30% ($1.4 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.57% ($1,873.1 mil)
    Quarterly Pretax return on assets: 1.62% ($1,932.8 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
  • 22Total employees (full-time equivalent)
  • $119,307Total assets
  • $4,716Cash and due from depository institutions
  • $1,220Interest-bearing balances
  • $41,409Securities
  • $1,791Federal funds sold & reverse repurchase agreements
  • $64,283Net loans & leases
  • $914Loan loss allowance
  • $0Trading account assets
  • $1,604Bank premises and fixed assets
  • $969Other real estate owned
  • $2,470Goodwill and other intangibles
  • $119,307Life insurance assets
  • $2,065All other assets
  • $105,720Total liabilities and capital
  • $95,512Total liabilities
  • $74,405Total deposits
  • $95,512Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,253Trading liabilities
  • $0Other borrowed funds
  • $955Subordinated debt
  • $13,587All other liabilities
  • $13,587Total equity capital
  • $13,587Total bank equity capital
  • $0Perpetual preferred stock
  • $377Common stock
  • $6,588Surplus
  • $6,622Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $224Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $321Income earned, not collected on loans
  • $0Earning assets
  • $1,105Long-term assets (5+ years)
  • $108,703Average Assets, year-to-date
  • $45,569Average Assets, quarterly
  • $114,397Volatile liabilities
  • $115,778Insider loans
  • $77,582FHLB advances
  • $115,788Loans and leases held for sale
  • $64Unused loan commitments
  • $64Tier 1 (core) risk-based capital
  • $10,788Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $12,819Restructured Loans and leases
  • $3,488Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,573Total interest income
  • $1,325Total interest expense
  • $4,248Net interest income
  • $240Provision for loan and lease losses
  • $182Total noninterest income
  • $0Fiduciary activities
  • $259Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$77Additional noninterest income
  • $2,411Total noninterest expense
  • $1,332Salaries and employee benefits
  • $305Premises and equipment expense
  • $774Additional noninterest expense
  • $1,779Pre-tax net operating income
  • $14Securities gains (losses)
  • $495Applicable income taxes
  • $1,298Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,298Net income attributable to bank
  • $0Net charge-offs
  • $1,298Cash dividends
  • -$15Sale, conversion, retirement of capital stock, net
  • $107Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.35%Yield on earning assets
  • 1.27%Cost of funding earning assets
  • 4.07%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 2.31%Noninterest expense to earning assets
  • 1.13%Net operating income to assets
  • 1.13%Return on assets (ROA)
  • 1.57%Pretax return on assets
  • 10.47%Return on equity (ROE)
  • 9.60%Retained earnings to average equity (YTD only)
  • -0.02%Net charge-offs to loans
  • -1600.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 53,770Assets per employee
  • 5.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 8.24%Loss allowance to loans
  • 1.40%Loss allowance to noncurrent loans
  • 284.74%Noncurrent assets plus other real estate owned to assets
  • 1.08%Noncurrent loans to loans
  • 0.49%Net loans and leases to deposits
  • 67.30%Net loans and leases to core deposits
  • 69.45%Equity capital to assets
  • 11.39%Core capital (leverage) ratio
  • 9.32%Tier 1 risk-based capital ratio
  • 13.91%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $114,397Average earning assets
  • $12,400Average equity
  • $104,252Average loans

Total Fiduciary and Related Assets (December 31, 2008)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $3Managed Assets
  • 1Number of Accounts
  • $3Personal trust and agency accounts
  • $3Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 4 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012292Northeast Security Bank108 North Carpenter, Sumner, IA 50674January 01, 1888Full Service Brick and Mortar
    1245172Fredericksburg Facility134 West Main, Fredericksburg, IA 50630August 01, 1985Full Service Brick and Mortar
    242026Main Street Branch106 East Main Street, Decorah, IA 52101January 01, 1891Full Service Brick and Mortar
    35571Fairbank Branch119 East Main Street, Fairbank, IA 50629January 01, 1897Full Service Brick and Mortar

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