Northwest Bank in Spencer, Iowa (IA), NE
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Northwest Bank in Spencer, Iowa (IA), NE
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Northwest Bank - Overview

  • General
  • FDIC Certificate #: 32647
    Status: Active
    Federal Reserve ID: 1387605
    Bank Holding Company (Regulatory Top Holder): Northwest Financial Corp. (RSSDID: 1978713, Location: Arnolds Park, IA)
    Date Established: December 30, 1988
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 15 (Domestic: 15, Interstate: Yes)
    OTS Docket #: 8567
    FDIC's unique #: 45481
    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: December 30, 1988
    Last Structure Change Effective Date: Febuary 21, 2012
    Last Structure Change Process Date: March 07, 2012
    Last Data Update: March 07, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 101 West 5th Street, Spencer, IA 51301
    County: Clay
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Core Based Statistical Area (CBSA): Spencer, IA (#43980)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Supervisory Agency
    Institution Withdraws from FRS (Federal Reserve System)
  • Financial Summary
  • Total assets: $863.8 mil
    Equity capital: $73.3 mil
    Deposits held in domestic offices: $728.0 mil
    Return on assets (ROA): 1.21% ($10.5 mil)
    Quarterly return on assets: 1.49% ($12.9 mil)
    Return on Equity (ROE): 14.37% ($10.5 mil)
    Quarterly return on equity: 17.49% ($12.8 mil)
    Net income: $10.1 mil
    Quarterly Net income: $3.2 mil
    Pretax return on assets: 1.26% ($10,883.8 mil)
    Quarterly Pretax return on assets: 1.55% ($13,388.8 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
  • 220Total employees (full-time equivalent)
  • $863,794Total assets
  • $41,884Cash and due from depository institutions
  • $23,505Interest-bearing balances
  • $78,413Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $699,731Net loans & leases
  • $9,277Loan loss allowance
  • $0Trading account assets
  • $14,103Bank premises and fixed assets
  • $9,171Other real estate owned
  • $1,324Goodwill and other intangibles
  • $863,794Life insurance assets
  • $19,168All other assets
  • $790,455Total liabilities and capital
  • $727,963Total liabilities
  • $626,831Total deposits
  • $727,963Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 18514.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $35,898Trading liabilities
  • $0Other borrowed funds
  • $8,080Subordinated debt
  • $73,339All other liabilities
  • $73,339Total equity capital
  • $73,339Total bank equity capital
  • $0Perpetual preferred stock
  • $3,500Common stock
  • $12,187Surplus
  • $57,652Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $7,102Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,691Income earned, not collected on loans
  • $447Earning assets
  • $3,608Long-term assets (5+ years)
  • $801,649Average Assets, year-to-date
  • $106,371Average Assets, quarterly
  • $834,553Volatile liabilities
  • $850,345Insider loans
  • $671,307FHLB advances
  • $849,792Loans and leases held for sale
  • $8,041Unused loan commitments
  • $6,637Tier 1 (core) risk-based capital
  • $71,995Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,404Total unused commitments
  • $66,757Restructured Loans and leases
  • $7,407Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $38,459Total interest income
  • $8,159Total interest expense
  • $30,300Net interest income
  • $2,990Provision for loan and lease losses
  • $9,144Total noninterest income
  • $0Fiduciary activities
  • $2,472Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6,672Additional noninterest income
  • $26,052Total noninterest expense
  • $15,091Salaries and employee benefits
  • $2,747Premises and equipment expense
  • $8,214Additional noninterest expense
  • $10,402Pre-tax net operating income
  • $135Securities gains (losses)
  • $427Applicable income taxes
  • $10,110Income before extraordinary items
  • $0Extraordinary gains - net
  • $10,110Net income attributable to bank
  • $0Net charge-offs
  • $10,110Cash dividends
  • $3,687Sale, conversion, retirement of capital stock, net
  • $4,601Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.94%Yield on earning assets
  • 1.05%Cost of funding earning assets
  • 3.89%Net interest margin
  • 1.17%Noninterest income to earning assets
  • 3.35%Noninterest expense to earning assets
  • 1.20%Net operating income to assets
  • 1.21%Return on assets (ROA)
  • 1.26%Pretax return on assets
  • 14.37%Return on equity (ROE)
  • 7.83%Retained earnings to average equity (YTD only)
  • 0.54%Net charge-offs to loans
  • 81.10%Credit loss provision to net charge-offs
  • 3.63%Efficiency ratio
  • 66,048Assets per employee
  • 3.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 45.51%Loss allowance to loans
  • 1.31%Loss allowance to noncurrent loans
  • 106.74%Noncurrent assets plus other real estate owned to assets
  • 2.07%Noncurrent loans to loans
  • 1.23%Net loans and leases to deposits
  • 96.12%Net loans and leases to core deposits
  • 99.12%Equity capital to assets
  • 8.49%Core capital (leverage) ratio
  • 8.47%Tier 1 risk-based capital ratio
  • 10.72%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $834,553Average earning assets
  • $70,350Average equity
  • $778,829Average loans

List of branches

  • 13 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    045481Northwest Bank101 West 5th Street, Spencer, IA 51301December 30, 1988Full Service Brick and Mortar
    102276093204 East State Street Branch204 East State Street, Algona, IA 50511January 01, 1935Full Service Brick and Mortar
    1032760921119 Central Avenue Branch1119 Central Avenue, Estherville, IA 51334January 01, 1935Full Service Brick and Mortar
    10443701Spirit Lake Branch1109 18th Street, Spirit Lake, IA 51360January 01, 1945Full Service Brick and Mortar
    105276094814 Okoboji Avenue Branch1802 Okoboji Avenue, Milford, IA 51351January 01, 1935Full Service Brick and Mortar
    108275703Humboldt Branch801 Sumner Avenue, Humboldt, IA 50548December 01, 1935Full Service Brick and Mortar
    109288860Storm Lake Branch730 Lake Avenue, Storm Lake, IA 50588March 18, 1994Full Service Brick and Mortar
    1155572Belmond Branch120 East Main Street, Belmond, IA 50421January 01, 1893Full Service Brick and Mortar
    119445709Fort Dodge Branch10 North 29th Street, Fort Dodge, IA 50501May 05, 2003Full Service Brick and Mortar
    120445710West Des Moines Branch5700 University Ave, West Des Moines, IA 50266May 03, 2004Full Service Brick and Mortar
    121445711Okoboji Branch1807 Highway 71 North, Okoboji, IA 51355May 25, 2005Full Service Brick and Mortar
    12277671No Ankeny Blvd Branch911 North Ankeny Boulevard, Ankeny, IA 50021Febuary 04, 2000Full Service Brick and Mortar
    123445674Ankeny Branch1700 Se Delaware Ave, Ankeny, IA 50021December 29, 2003Full Service Brick and Mortar
  • 2 Nebraska Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    114357212Arbor Street Branch14320 Arbor Street, Omaha, NE 68144December 07, 1998Full Service Brick and Mortar
    124506254La Vista Branch9719 Giles Rd, La Vista, NE 68128August 29, 2005Full Service Brick and Mortar

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