Norwest Bank Minnesota Mesabi, National Association in Virginia, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 17, 1995

  • Norwest Bank Minnesota Mesabi, National Association in Virginia, Minnesota (MN)
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Norwest Bank Minnesota Mesabi, National Association - Overview

  • General
  • FDIC Certificate #: 16352
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Norwest Bank Minnesota North, National Association (#5125)
    Federal Reserve ID: 15358
    Date Established: December 14, 1945
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 7 (Interstate: No)
    FDIC's unique #: 10536
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: December 14, 1945
    Last Structure Change Effective Date: November 17, 1995
    Last Structure Change Process Date: January 03, 1996
    Last Data Update: January 03, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 401 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)
  • Financial Summary
  • Total assets: $268.2 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $75Total assets
  • $249,461Cash and due from depository institutions
  • $4,103Interest-bearing balances
  • $192Securities
  • $118,772Federal funds sold & reverse repurchase agreements
  • $1,400Net loans & leases
  • $117,384Loan loss allowance
  • $1,874Trading account assets
  • $0Bank premises and fixed assets
  • $2,703Other real estate owned
  • $24Goodwill and other intangibles
  • $3,569Life insurance assets
  • $1,506All other assets
  • $0Total liabilities and capital
  • $249,461Total liabilities
  • $234,880Total deposits
  • $225,244Interest-bearing deposits
  • $201,680Deposits held in domestic offices
  • 225244.00%% insured (estimated)
  • $93Federal funds purchased & repurchase agreements
  • $5,900Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $3,736Total equity capital
  • $3,736Total bank equity capital
  • $14,581Perpetual preferred stock
  • $0Common stock
  • $2,800Surplus
  • $14,466Undivided profits
  • Memoranda
  • $-2,685Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $38Income earned, not collected on loans
  • $690Earning assets
  • $237,748Long-term assets (5+ years)
  • $88,964Average Assets, year-to-date
  • $246,446Average Assets, quarterly
  • $248,522Volatile liabilities
  • $13,647Insider loans
  • $32FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $8,810Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $16,199Total risk weighted assets
  • $129,065Total unused commitments
  • $0Restructured Loans and leases
  • $50,000Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $16,039Total interest expense
  • $6,407Net interest income
  • $9,632Provision for loan and lease losses
  • -$366Total noninterest income
  • $1,468Fiduciary activities
  • $26Service charges on deposit accounts
  • $710Trading account gains & fees
  • $0Additional noninterest income
  • $732Total noninterest expense
  • $6,871Salaries and employee benefits
  • $2,502Premises and equipment expense
  • $831Additional noninterest expense
  • $3,538Pre-tax net operating income
  • $4,595Securities gains (losses)
  • -$210Applicable income taxes
  • $1,717Income before extraordinary items
  • $2,668Extraordinary gains - net
  • $0Net income attributable to bank
  • $2,668Net charge-offs
  • -$134Cash dividends
  • $2,600Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1994)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 6.87%Cost of funding earning assets
  • 2.75%Net interest margin
  • 4.13%Noninterest income to earning assets
  • 0.63%Noninterest expense to earning assets
  • 2.94%Net operating income to assets
  • 1.14%Return on assets (ROA)
  • 1.08%Pretax return on assets
  • 1.78%Return on equity (ROE)
  • 15.83%Retained earnings to average equity (YTD only)
  • 0.40%Net charge-offs to loans
  • -0.12%Credit loss provision to net charge-offs
  • 273.13%Efficiency ratio
  • 60,270Assets per employee
  • 3.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 97.45%Loss allowance to loans
  • 1.57%Loss allowance to noncurrent loans
  • 4931.58%Noncurrent assets plus other real estate owned to assets
  • 0.02%Noncurrent loans to loans
  • 0.03%Net loans and leases to deposits
  • 52.11%Net loans and leases to core deposits
  • 53.97%Equity capital to assets
  • 5.85%Core capital (leverage) ratio
  • 6.57%Tier 1 risk-based capital ratio
  • 12.55%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $246,446Average earning assets
  • $16,852Average equity
  • $233,352Average loans

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