Northern State Bank in Ashland, Wisconsin (WI), MN

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Northern State Bank
GeneralFDIC Certificate #: 15242
Status: Active
Federal Reserve ID: 625757
Bank Holding Company (Regulatory Top Holder): Bay Area Banking Shares, Inc. (RSSDID: 1127799, Location: Ashland, WI)
Date Established: September 05, 1933
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: Yes)
FDIC's unique #: 9594
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 19, 2010
Last Structure Change Process Date: March 23, 2010
Last Data Update: March 23, 2010
Data Source Date: April 05, 2012
LocationAddress: 321 West Main Street, Ashland, WI 54806
County: Ashland
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Eau Claire
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
History of ChangesParticipated in FDIC Assisted Absorption/Consolidation/Merger
Financial SummaryTotal assets: $228.0 mil
Equity capital: $18.8 mil
Deposits held in domestic offices: $209.1 mil
Return on assets (ROA): 1.14% ($2.6 mil)
Quarterly return on assets: 1.20% ($2.7 mil)
Return on Equity (ROE): 14.07% ($2.7 mil)
Quarterly return on equity: 14.35% ($2.7 mil)
Net income: $2.6 mil
Quarterly Net income: $0.7 mil
Pretax return on assets: 1.17% ($2,667.8 mil)
Quarterly Pretax return on assets: 1.25% ($2,850.2 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)64
Total assets$228,014
Cash and due from depository institutions$10,984
Interest-bearing balances$3,698
Federal funds sold & reverse repurchase agreements$636
Net loans & leases$139,033
Loan loss allowance $1,117
Trading account assets$0
Bank premises and fixed assets$2,233
Other real estate owned$1,564
Goodwill and other intangibles$95
All other assets$2,062
Life insurance assets$228,014
Total liabilities and capital$209,174
Total liabilities$209,054
Total deposits$180,631
Interest-bearing deposits$209,054
Deposits held in domestic offices$83
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $120
All other liabilities $18,840
Total equity capital$18,840
Total bank equity capital$18,840
Perpetual preferred stock$0
Common stock$405
Undivided profits $12,140
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 $2,231
Earning assets $0
Long-term assets (5+ years) $864
Average Assets, year-to-date $214,774
Average Assets, quarterly $20,585
Volatile liabilities $225,172
Insider loans $226,247
FHLB advances $128,916
Loans and leases held for sale $223,265
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $17,557
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,661
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,713
Total interest expense $1,409
Net interest income $7,304
Provision for loan and lease losses $90
Total noninterest income $723
Fiduciary activities $0
Service charges on deposit accounts $428
Trading account gains & fees $0
Additional noninterest income $295
Total noninterest expense $5,315
Salaries and employee benefits $3,115
Premises and equipment expense $823
Additional noninterest expense $1,377
Pre-tax net operating income $2,622
Securities gains (losses) $6
Applicable income taxes $50
Income before extraordinary items $2,578
Extraordinary gains - net $0
Net income attributable to bank $2,578
Net charge-offs $0
Cash dividends $2,578
Sale, conversion, retirement of capital stock, net $190
Net operating income $2,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.06%
Cost of funding earning assets 0.66%
Net interest margin 3.40%
Noninterest income to earning assets 0.34%
Noninterest expense to earning assets 2.48%
Net operating income to assets 1.14%
Return on assets (ROA) 1.14%
Pretax return on assets 1.17%
Return on equity (ROE) 14.07%
Retained earnings to average equity (YTD only) 3.16%
Net charge-offs to loans 0.14%
Credit loss provision to net charge-offs 47.37%
Efficiency ratio14.27%
Assets per employee$65,927
Cash dividends to net income (YTD only)3.56%
Condition Ratios (%)
Loss allowance to loans 77.58%
Loss allowance to noncurrent loans 0.80%
Noncurrent assets plus other real estate owned to assets 50.07%
Noncurrent loans to loans 1.66%
Net loans and leases to deposits1.59%
Net loans and leases to core deposits 66.51%
Equity capital to assets 70.66%
Core capital (leverage) ratio 8.26%
Tier 1 risk-based capital ratio 7.86%
Total risk-based capital ratio 13.62%
Average assets$14
Average earning assets$225,172
Average equity $18,316
Average loans $214,714
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
85244Bank Of Aurora Branch213 North Main Street, Aurora, MN 55705January 01, 1906Full Service Brick and Mortar
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7 Wisconsin Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09594Northern State Bank321 West Main Street, Ashland, WI 54806September 05, 1933Full Service Brick and Mortar
1233512Butternut Branch200 West Main Street, Butternut, WI 54514September 05, 1933Full Service Brick and Mortar
2233513Glidden Branch163 South Grant Street, Glidden, WI 54527September 05, 1933Full Service Brick and Mortar
4233515Mellen Branch103 North Main, Mellen, WI 54546September 05, 1933Full Service Brick and Mortar
5233516Auto Bank Facility321 Second Street West, Ashland, WI 54806November 08, 1979Limited Service Facility
6233517County Market Branch401 Ellis Avenue, Ashland, WI 54806October 05, 1998Limited Service Facility
7340734Washburn Iga Branch226 West Bayfield St., Washburn, WI 54891May 08, 2000Full Service Retail
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