Prime Security Bank in Karlstad, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Prime Security Bank - Overview

  • General
  • FDIC Certificate #: 10971
    Status: Active
    Federal Reserve ID: 909756
    Bank Holding Company (Regulatory Top Holder): North State Bancshares, Inc. (RSSDID: 2130303, Location: Shakopee, MN)
    Date Established: June 05, 1925
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 7025
    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 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 Main Street, Karlstad, MN 56732
    County: Kittson
    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 Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $68.8 mil
    Equity capital: $4.3 mil
    Deposits held in domestic offices: $59.4 mil
    Return on assets (ROA): -1.10% (-$0.8 mil)
    Quarterly return on assets: -3.55% (-$2.4 mil)
    Return on Equity (ROE): -17.35% (-$0.7 mil)
    Quarterly return on equity: -53.03% (-$2.1 mil)
    Net income: -$0.8 mil
    Quarterly Net income: -$0.6 mil
    Pretax return on assets: -1.10% (-$757.2 mil)
    Quarterly Pretax return on assets: -3.55% (-$2,443.6 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
  • 20Total employees (full-time equivalent)
  • $68,835Total assets
  • $15,119Cash and due from depository institutions
  • $13,976Interest-bearing balances
  • $509Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $45,022Net loans & leases
  • $1,328Loan loss allowance
  • $0Trading account assets
  • $3,445Bank premises and fixed assets
  • $3,535Other real estate owned
  • $0Goodwill and other intangibles
  • $68,835Life insurance assets
  • $1,205All other assets
  • $64,530Total liabilities and capital
  • $59,355Total liabilities
  • $50,109Total deposits
  • $59,355Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $175Subordinated debt
  • $4,305All other liabilities
  • $4,305Total equity capital
  • $4,305Total bank equity capital
  • $0Perpetual preferred stock
  • $120Common stock
  • $8,430Surplus
  • $-4,245Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,028Income earned, not collected on loans
  • $0Earning assets
  • $192Long-term assets (5+ years)
  • $59,507Average Assets, year-to-date
  • $1,425Average Assets, quarterly
  • $76,603Volatile liabilities
  • $68,858Insider loans
  • $49,539FHLB advances
  • $69,417Loans and leases held for sale
  • $542Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $4,300Tier 2 risk-based capital
  • $542Total risk weighted assets
  • $0Total unused commitments
  • $4,844Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,151Total interest income
  • $873Total interest expense
  • $2,278Net interest income
  • $287Provision for loan and lease losses
  • $381Total noninterest income
  • $0Fiduciary activities
  • $214Service charges on deposit accounts
  • $0Trading account gains & fees
  • $167Additional noninterest income
  • $3,212Total noninterest expense
  • $1,403Salaries and employee benefits
  • $440Premises and equipment expense
  • $1,369Additional noninterest expense
  • -$840Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • -$842Income before extraordinary items
  • $0Extraordinary gains - net
  • -$842Net income attributable to bank
  • $0Net charge-offs
  • -$842Cash dividends
  • $25Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.79%Yield on earning assets
  • 1.33%Cost of funding earning assets
  • 3.46%Net interest margin
  • 0.58%Noninterest income to earning assets
  • 4.88%Noninterest expense to earning assets
  • -1.10%Net operating income to assets
  • -1.10%Return on assets (ROA)
  • -1.10%Pretax return on assets
  • -17.35%Return on equity (ROE)
  • -17.35%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 1148.00%Credit loss provision to net charge-offs
  • -22.12%Efficiency ratio
  • 120,797Assets per employee
  • 3.44%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.87%Loss allowance to noncurrent loans
  • 65.48%Noncurrent assets plus other real estate owned to assets
  • 8.08%Noncurrent loans to loans
  • 4.38%Net loans and leases to deposits
  • 75.85%Net loans and leases to core deposits
  • 77.37%Equity capital to assets
  • 6.25%Core capital (leverage) ratio
  • 6.19%Tier 1 risk-based capital ratio
  • 8.68%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $76,603Average earning assets
  • $4,853Average equity
  • $65,825Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07025Prime Security Bank201 Main Street, Karlstad, MN 56732June 05, 1925Full Service Brick and Mortar
    2223529Lancaster Branch120 Central Avenue, Lancaster, MN 56735October 10, 1995Full Service Brick and Mortar
    3223530Shakopee Branch1305 Vierling Drive East, Shakopee, MN 55379August 24, 1998Full Service Brick and Mortar
    5471462Eagan Branch1595 Thomas Center Drive, Eagan, MN 55122Febuary 06, 2008Full Service Brick and Mortar

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