ProGrowth Bank in Nicollet, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


ProGrowth Bank - Overview

  • General
  • FDIC Certificate #: 8536
    Status: Active
    Federal Reserve ID: 751254
    Bank Holding Company (Regulatory Top Holder): Progressive Growth Corp. (RSSDID: 1126877, Location: Gaylord, MN)
    Date Established: January 01, 1903
    WWW: http://www.progrowth.com
    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 #: 10870
    FDIC's unique #: 5444
    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: No
    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: 703 3rd Street, Nicollet, MN 56074
    County: Nicollet
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Mankato-North Mankato, MN (#31860)
    CBSA Metro Statistical Area: Mankato-North Mankato, MN (#31860)
  • History of Changes
  • Corrections
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $142.7 mil
    Equity capital: $9.9 mil
    Deposits held in domestic offices: $116.8 mil
    Return on assets (ROA): 0.38% ($0.5 mil)
    Quarterly return on assets: 0.58% ($0.8 mil)
    Return on Equity (ROE): 5.47% ($0.5 mil)
    Quarterly return on equity: 8.10% ($0.8 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.65% ($927.5 mil)
    Quarterly Pretax return on assets: 0.97% ($1,384.0 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
  • 36Total employees (full-time equivalent)
  • $142,685Total assets
  • $20,547Cash and due from depository institutions
  • $6,356Interest-bearing balances
  • $36,303Securities
  • $20Federal funds sold & reverse repurchase agreements
  • $75,346Net loans & leases
  • $1,928Loan loss allowance
  • $0Trading account assets
  • $935Bank premises and fixed assets
  • $4,742Other real estate owned
  • $0Goodwill and other intangibles
  • $142,686Life insurance assets
  • $4,792All other assets
  • $132,796Total liabilities and capital
  • $116,841Total liabilities
  • $83,354Total deposits
  • $116,841Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $15,450Trading liabilities
  • $0Other borrowed funds
  • $505Subordinated debt
  • $9,890All other liabilities
  • $9,890Total equity capital
  • $9,890Total bank equity capital
  • $0Perpetual preferred stock
  • $140Common stock
  • $7,610Surplus
  • $2,140Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,844Income earned, not collected on loans
  • $240Earning assets
  • $723Long-term assets (5+ years)
  • $118,025Average Assets, year-to-date
  • $37,827Average Assets, quarterly
  • $140,156Volatile liabilities
  • $137,194Insider loans
  • $93,249FHLB advances
  • $132,550Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,771Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,246Restructured Loans and leases
  • $176Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,003Total interest income
  • $1,604Total interest expense
  • $5,399Net interest income
  • $445Provision for loan and lease losses
  • $266Total noninterest income
  • $0Fiduciary activities
  • $302Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$36Additional noninterest income
  • $4,182Total noninterest expense
  • $2,103Salaries and employee benefits
  • $341Premises and equipment expense
  • $1,738Additional noninterest expense
  • $1,038Pre-tax net operating income
  • -$131Securities gains (losses)
  • $374Applicable income taxes
  • $533Income before extraordinary items
  • $0Extraordinary gains - net
  • $533Net income attributable to bank
  • $0Net charge-offs
  • $533Cash dividends
  • $270Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.73%Yield on earning assets
  • 1.31%Cost of funding earning assets
  • 4.42%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 3.42%Noninterest expense to earning assets
  • 0.44%Net operating income to assets
  • 0.38%Return on assets (ROA)
  • 0.65%Pretax return on assets
  • 5.47%Return on equity (ROE)
  • 5.47%Retained earnings to average equity (YTD only)
  • 0.35%Net charge-offs to loans
  • 164.81%Credit loss provision to net charge-offs
  • 5.49%Efficiency ratio
  • 73,822Assets per employee
  • 3.96%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.50%Loss allowance to noncurrent loans
  • 50.16%Noncurrent assets plus other real estate owned to assets
  • 6.02%Noncurrent loans to loans
  • 4.97%Net loans and leases to deposits
  • 64.49%Net loans and leases to core deposits
  • 65.57%Equity capital to assets
  • 6.93%Core capital (leverage) ratio
  • 8.13%Tier 1 risk-based capital ratio
  • 11.55%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $140,156Average earning assets
  • $9,745Average equity
  • $122,192Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05444Progrowth Bank703 3rd Street, Nicollet, MN 56074January 01, 1903Full Service Brick and Mortar
    1218682Progrowth Bank Branch1881 Madison Avenue, Mankato, MN 56001June 28, 1999Full Service Retail
    2922Progrowth Bank Branch320 Main Street, Gaylord, MN 55334March 01, 1904Full Service Brick and Mortar
    3478365Progrowth Bank Branch45 Teton Lane, Mankato, MN 56001October 24, 2007Limited Service Loan Production

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