Peoples State Bank in Westhope, North Dakota (ND)



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Peoples State Bank
GeneralFDIC Certificate #: 13196
Status: Active
Federal Reserve ID: 238250
Bank Holding Company (Regulatory Top Holder): Peoples State Holding Company (RSSDID: 1123821, Location: Westhope, ND)
Date Established: June 12, 1906
WWW: http://www.psbwesthope.com
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 #: 11832
FDIC's unique #: 8351
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: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
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
LocationAddress: 110 Main St, Westhope, ND 58793
County: Bottineau
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of ChangesChange in Location
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $78.3 mil
Equity capital: $7.2 mil
Deposits held in domestic offices: $70.9 mil
Return on assets (ROA): 1.17% ($0.9 mil)
Quarterly return on assets: 0.47% ($0.4 mil)
Return on Equity (ROE): 12.56% ($0.9 mil)
Quarterly return on equity: 5.02% ($0.4 mil)
Net income: $0.8 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 1.27% ($994.2 mil)
Quarterly Pretax return on assets: 0.54% ($422.7 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)15
Total assets$78,286
Cash and due from depository institutions$5,577
Interest-bearing balances$3,185
Securities$41,178
Federal funds sold & reverse repurchase agreements$5,000
Net loans & leases$24,354
Loan loss allowance $808
Trading account assets$0
Bank premises and fixed assets$109
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$2,068
Life insurance assets$78,286
Total liabilities and capital$71,051
Total liabilities$70,856
Total deposits$46,200
Interest-bearing deposits$70,856
Deposits held in domestic offices$85
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $195
All other liabilities $7,235
Total equity capital$7,235
Total bank equity capital$7,235
Perpetual preferred stock$0
Common stock$750
Surplus$750
Undivided profits $5,735
Memoranda
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 $11
Earning assets $0
Long-term assets (5+ years) $494
Average Assets, year-to-date $73,717
Average Assets, quarterly $38,451
Volatile liabilities $69,722
Insider loans $75,009
FHLB advances $37,040
Loans and leases held for sale $75,174
Unused loan commitments $1,265
Tier 1 (core) risk-based capital $1,265
Tier 2 risk-based capital $6,158
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $9,401
Derivatives$0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,348
Total interest expense $476
Net interest income $1,872
Provision for loan and lease losses $0
Total noninterest income $136
Fiduciary activities $0
Service charges on deposit accounts $39
Trading account gains & fees $0
Additional noninterest income $97
Total noninterest expense $1,240
Salaries and employee benefits $853
Premises and equipment expense $113
Additional noninterest expense $274
Pre-tax net operating income $768
Securities gains (losses) $116
Applicable income taxes $69
Income before extraordinary items $815
Extraordinary gains - net $0
Net income attributable to bank $815
Net charge-offs $0
Cash dividends $815
Sale, conversion, retirement of capital stock, net -$123
Net operating income $325
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.58%
Cost of funding earning assets 0.73%
Net interest margin 2.85%
Noninterest income to earning assets 0.21%
Noninterest expense to earning assets 1.89%
Net operating income to assets 1.02%
Return on assets (ROA) 1.17%
Pretax return on assets 1.27%
Return on equity (ROE) 12.56%
Retained earnings to average equity (YTD only) 7.55%
Net charge-offs to loans -0.44%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$61,753
Cash dividends to net income (YTD only)5.22%
Condition Ratios (%)
Loss allowance to loans 39.88%
Loss allowance to noncurrent loans 3.21%
Noncurrent assets plus other real estate owned to assets 7345.45%
Noncurrent loans to loans 0.01%
Net loans and leases to deposits0.04%
Net loans and leases to core deposits 34.37%
Equity capital to assets 43.51%
Core capital (leverage) ratio 9.24%
Tier 1 risk-based capital ratio 8.19%
Total risk-based capital ratio 16.63%
Memoranda
Average assets$18
Average earning assets$69,722
Average equity $6,488
Average loans $65,609
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2 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08351Peoples State Bank110 Main St, Westhope, ND 58793June 12, 1906Full Service Brick and Mortar
1229306Paying And Receiving Station BranchNewburg Mall, Newburg, ND 58762October 28, 1975Full Service Brick and Mortar
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