Primebank in Le Mars, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Primebank - Overview

  • General
  • FDIC Certificate #: 8101
    Status: Active
    Federal Reserve ID: 671147
    Bank Holding Company (Regulatory Top Holder): Primebank, Inc. (RSSDID: 2700500, Location: Le Mars, IA)
    Date Established: January 01, 1901
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 12108
    FDIC's unique #: 5153
    Numeric code: 13
    Regulator: FED
    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
  • Location
  • Address: 37 First Avenue, N.W., Le Mars, IA 51031
    County: Plymouth
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $312.5 mil
    Equity capital: $37.6 mil
    Deposits held in domestic offices: $272.9 mil
    Return on assets (ROA): 1.03% ($3.2 mil)
    Quarterly return on assets: 0.20% ($0.6 mil)
    Return on Equity (ROE): 9.03% ($3.4 mil)
    Quarterly return on equity: 1.69% ($0.6 mil)
    Net income: $3.3 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.09% ($3,406.1 mil)
    Quarterly Pretax return on assets: 0.21% ($656.2 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
  • 66Total employees (full-time equivalent)
  • $312,483Total assets
  • $17,070Cash and due from depository institutions
  • $10,167Interest-bearing balances
  • $71,574Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $211,669Net loans & leases
  • $4,431Loan loss allowance
  • $0Trading account assets
  • $5,086Bank premises and fixed assets
  • $625Other real estate owned
  • $1,574Goodwill and other intangibles
  • $312,483Life insurance assets
  • $4,885All other assets
  • $274,921Total liabilities and capital
  • $272,874Total liabilities
  • $242,993Total deposits
  • $272,874Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $2,047Subordinated debt
  • $37,562All other liabilities
  • $37,562Total equity capital
  • $37,562Total bank equity capital
  • $0Perpetual preferred stock
  • $1,200Common stock
  • $15,432Surplus
  • $20,930Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,367Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,332Income earned, not collected on loans
  • $0Earning assets
  • $1,673Long-term assets (5+ years)
  • $293,410Average Assets, year-to-date
  • $83,456Average Assets, quarterly
  • $319,718Volatile liabilities
  • $316,486Insider loans
  • $211,154FHLB advances
  • $310,549Loans and leases held for sale
  • $897Unused loan commitments
  • $897Tier 1 (core) risk-based capital
  • $35,054Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $27,925Restructured Loans and leases
  • $150Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,603Total interest income
  • $3,681Total interest expense
  • $10,922Net interest income
  • $2,700Provision for loan and lease losses
  • $1,785Total noninterest income
  • $10Fiduciary activities
  • $470Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,305Additional noninterest income
  • $6,530Total noninterest expense
  • $3,969Salaries and employee benefits
  • $844Premises and equipment expense
  • $1,717Additional noninterest expense
  • $3,477Pre-tax net operating income
  • $0Securities gains (losses)
  • $175Applicable income taxes
  • $3,302Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,302Net income attributable to bank
  • $0Net charge-offs
  • $3,302Cash dividends
  • $2,193Sale, conversion, retirement of capital stock, net
  • $2,136Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.84%Yield on earning assets
  • 1.22%Cost of funding earning assets
  • 3.62%Net interest margin
  • 0.59%Noninterest income to earning assets
  • 2.16%Noninterest expense to earning assets
  • 1.03%Net operating income to assets
  • 1.03%Return on assets (ROA)
  • 1.09%Pretax return on assets
  • 9.03%Return on equity (ROE)
  • 3.19%Retained earnings to average equity (YTD only)
  • 0.99%Net charge-offs to loans
  • 123.12%Credit loss provision to net charge-offs
  • 2.82%Efficiency ratio
  • 51,389Assets per employee
  • 4.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 64.69%Loss allowance to loans
  • 2.05%Loss allowance to noncurrent loans
  • 60.43%Noncurrent assets plus other real estate owned to assets
  • 2.55%Noncurrent loans to loans
  • 3.39%Net loans and leases to deposits
  • 77.57%Net loans and leases to core deposits
  • 79.11%Equity capital to assets
  • 12.02%Core capital (leverage) ratio
  • 11.29%Tier 1 risk-based capital ratio
  • 16.60%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $319,718Average earning assets
  • $36,571Average equity
  • $301,735Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $3,025Managed Assets
  • 1Number of Accounts
  • $1,699Personal trust and agency accounts
  • $593Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $1,106Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 122Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $1,326Other retirement accounts
  • $579Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $747Fiduciary accounts held in foreign offices

List of branches

  • 3 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05153Primebank37 First Avenue, N.W., Le Mars, IA 51031January 01, 1901Full Service Brick and Mortar
    2366321Sioux Center Branch1601 S. Main St, Sioux Center, IA 51250January 27, 2003Full Service Brick and Mortar
    3478773Sioux City Branch5680 Sunnybrook Dr, Sioux City, IA 51106December 20, 2007Full Service Brick and Mortar

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