Prior Lake State Bank in Prior Lake, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Prior Lake State Bank in Prior Lake, Minnesota (MN)
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Prior Lake State Bank - Overview

  • General
  • FDIC Certificate #: 10166
    Status: Active
    Federal Reserve ID: 848752
    Bank Holding Company (Regulatory Top Holder): Norlo, Inc. (RSSDID: 1125610, Location: Prior Lake, MN)
    Date Established: January 01, 1903
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 12937
    FDIC's unique #: 6507
    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: 16677 Duluth Avenue, S.E., Prior Lake, MN 55372
    County: Scott
    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): Minneapolis-St. Paul, MN-WI (#5120)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
    CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $191.5 mil
    Equity capital: $25.3 mil
    Deposits held in domestic offices: $165.6 mil
    Return on assets (ROA): 1.55% ($3.0 mil)
    Quarterly return on assets: 1.71% ($3.3 mil)
    Return on Equity (ROE): 11.67% ($2.9 mil)
    Quarterly return on equity: 12.76% ($3.2 mil)
    Net income: $2.9 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.55% ($2,967.8 mil)
    Quarterly Pretax return on assets: 1.71% ($3,274.2 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
  • 34Total employees (full-time equivalent)
  • $191,474Total assets
  • $5,492Cash and due from depository institutions
  • $2,050Interest-bearing balances
  • $57,613Securities
  • $19,375Federal funds sold & reverse repurchase agreements
  • $102,118Net loans & leases
  • $1,618Loan loss allowance
  • $0Trading account assets
  • $587Bank premises and fixed assets
  • $3,397Other real estate owned
  • $0Goodwill and other intangibles
  • $191,474Life insurance assets
  • $2,892All other assets
  • $166,185Total liabilities and capital
  • $165,613Total liabilities
  • $152,570Total deposits
  • $165,613Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $572Subordinated debt
  • $25,289All other liabilities
  • $25,289Total equity capital
  • $25,289Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $13,950Surplus
  • $11,289Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $227Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,539Income earned, not collected on loans
  • $0Earning assets
  • $661Long-term assets (5+ years)
  • $181,156Average Assets, year-to-date
  • $2,650Average Assets, quarterly
  • $184,923Volatile liabilities
  • $187,861Insider loans
  • $122,435FHLB advances
  • $187,623Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $24,944Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $23,130Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,131Total interest income
  • $802Total interest expense
  • $6,329Net interest income
  • $925Provision for loan and lease losses
  • $1,050Total noninterest income
  • $0Fiduciary activities
  • $459Service charges on deposit accounts
  • $0Trading account gains & fees
  • $591Additional noninterest income
  • $3,594Total noninterest expense
  • $2,133Salaries and employee benefits
  • $211Premises and equipment expense
  • $1,250Additional noninterest expense
  • $2,860Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $2,860Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,860Net income attributable to bank
  • $0Net charge-offs
  • $2,860Cash dividends
  • $799Sale, conversion, retirement of capital stock, net
  • $1,194Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.12%Yield on earning assets
  • 0.46%Cost of funding earning assets
  • 3.65%Net interest margin
  • 0.61%Noninterest income to earning assets
  • 2.07%Noninterest expense to earning assets
  • 1.55%Net operating income to assets
  • 1.55%Return on assets (ROA)
  • 1.55%Pretax return on assets
  • 11.67%Return on equity (ROE)
  • 6.80%Retained earnings to average equity (YTD only)
  • 0.75%Net charge-offs to loans
  • 115.77%Credit loss provision to net charge-offs
  • 4.74%Efficiency ratio
  • 48,706Assets per employee
  • 5.63%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 41.75%Loss allowance to loans
  • 1.56%Loss allowance to noncurrent loans
  • 63.73%Noncurrent assets plus other real estate owned to assets
  • 3.10%Noncurrent loans to loans
  • 2.45%Net loans and leases to deposits
  • 61.66%Net loans and leases to core deposits
  • 63.01%Equity capital to assets
  • 13.21%Core capital (leverage) ratio
  • 13.29%Tier 1 risk-based capital ratio
  • 20.37%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $184,923Average earning assets
  • $24,504Average equity
  • $173,249Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06507Prior Lake State Bank16677 Duluth Avenue, S.E., Prior Lake, MN 55372January 01, 1903Full Service Brick and Mortar
    1221981Crossroads Facility14033 Commerce Avenue, Prior Lake, MN 55372September 03, 1985Full Service Brick and Mortar
    2467780Mckenna Crossing Branch13810 Shepherd's Path Nw, Suite 139, Prior Lake, MN 55379August 09, 2007
    3477852Mckenna Crossing Branch13810 Shepherd's Path N.W. Suite 139, Prior Lake, MN 55379August 09, 2007Full Service Brick and Mortar

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