Northern State Bank of Virginia in Virginia, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Northern State Bank of Virginia - Overview

  • General
  • FDIC Certificate #: 19589
    Status: Active
    Federal Reserve ID: 774253
    Bank Holding Company (Regulatory Top Holder): Kes Bancshares, Inc. (RSSDID: 2564047, Location: Virginia, MN)
    Date Established: May 19, 1966
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 15406
    FDIC's unique #: 13388
    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: May 19, 1966
    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: 600 Chestnut Street, Virginia, MN 55792
    County: St. Louis
    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): Duluth-Superior, MN-WI (#2240)
    Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
    CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $60.1 mil
    Equity capital: $4.3 mil
    Deposits held in domestic offices: $55.8 mil
    Return on assets (ROA): 0.19% ($0.1 mil)
    Quarterly return on assets: 0.19% ($0.1 mil)
    Return on Equity (ROE): 2.65% ($0.1 mil)
    Quarterly return on equity: 2.73% ($0.1 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.19% ($114.1 mil)
    Quarterly Pretax return on assets: 0.19% ($114.1 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
  • 21Total employees (full-time equivalent)
  • $60,064Total assets
  • $6,764Cash and due from depository institutions
  • $3,732Interest-bearing balances
  • $6,963Securities
  • $2,500Federal funds sold & reverse repurchase agreements
  • $40,947Net loans & leases
  • $645Loan loss allowance
  • $0Trading account assets
  • $860Bank premises and fixed assets
  • $705Other real estate owned
  • $0Goodwill and other intangibles
  • $60,064Life insurance assets
  • $1,325All other assets
  • $55,810Total liabilities and capital
  • $55,767Total liabilities
  • $49,052Total deposits
  • $55,767Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $43Subordinated debt
  • $4,254All other liabilities
  • $4,254Total equity capital
  • $4,254Total bank equity capital
  • $0Perpetual preferred stock
  • $312Common stock
  • $2,188Surplus
  • $1,754Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $808Income earned, not collected on loans
  • $0Earning assets
  • $223Long-term assets (5+ years)
  • $54,142Average Assets, year-to-date
  • $11,962Average Assets, quarterly
  • $57,543Volatile liabilities
  • $59,927Insider loans
  • $39,306FHLB advances
  • $60,182Loans and leases held for sale
  • $531Unused loan commitments
  • $531Tier 1 (core) risk-based capital
  • $4,242Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,449Restructured Loans and leases
  • $741Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,529Total interest income
  • $485Total interest expense
  • $2,044Net interest income
  • $25Provision for loan and lease losses
  • $124Total noninterest income
  • $0Fiduciary activities
  • $170Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$46Additional noninterest income
  • $2,055Total noninterest expense
  • $1,077Salaries and employee benefits
  • $419Premises and equipment expense
  • $559Additional noninterest expense
  • $88Pre-tax net operating income
  • $23Securities gains (losses)
  • $0Applicable income taxes
  • $111Income before extraordinary items
  • $0Extraordinary gains - net
  • $111Net income attributable to bank
  • $0Net charge-offs
  • $111Cash dividends
  • $36Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.92%Yield on earning assets
  • 0.94%Cost of funding earning assets
  • 3.98%Net interest margin
  • 0.24%Noninterest income to earning assets
  • 4.00%Noninterest expense to earning assets
  • 0.15%Net operating income to assets
  • 0.19%Return on assets (ROA)
  • 0.19%Pretax return on assets
  • 2.65%Return on equity (ROE)
  • 2.65%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 69.44%Credit loss provision to net charge-offs
  • 3.14%Efficiency ratio
  • 94,788Assets per employee
  • 2.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.55%Loss allowance to noncurrent loans
  • 79.83%Noncurrent assets plus other real estate owned to assets
  • 2.52%Noncurrent loans to loans
  • 1.94%Net loans and leases to deposits
  • 73.43%Net loans and leases to core deposits
  • 75.65%Equity capital to assets
  • 7.08%Core capital (leverage) ratio
  • 7.05%Tier 1 risk-based capital ratio
  • 10.79%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $57,543Average earning assets
  • $4,191Average equity
  • $51,351Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    013388Northern State Bank Of Virginia600 Chestnut Street, Virginia, MN 55792May 19, 1966Full Service Brick and Mortar
    1248933Virginia Branch1111 17th Street South, Virginia, MN 55792December 01, 1998Limited Service Facility

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