Ramsey Bank in Cando, North Dakota (ND)



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Ramsey Bank
GeneralFDIC Certificate #: 33206
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Ramsey National Bank (#3914)
Federal Reserve ID: 1857667
Date Established: September 21, 1990
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 8928
FDIC's unique #: 46446
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: September 21, 1990
Last Structure Change Effective Date: October 23, 2000
Last Structure Change Process Date: January 03, 2001
Last Data Update: January 03, 2001
Data Source Date: April 05, 2012
LocationAddress: 407 Fifth Avenue, Cando, ND 58324
County: Towner
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
Financial SummaryTotal assets: $45.0 mil

1992 - 1999 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, 1999)
(Dollar figures in thousands)
Total employees (full-time equivalent)16
Total assets$45,975
Cash and due from depository institutions$1,395
Interest-bearing balances$103
Securities$13,789
Federal funds sold & reverse repurchase agreements$2,460
Net loans & leases$23,964
Loan loss allowance $199
Trading account assets$0
Bank premises and fixed assets$1,171
Other real estate owned$23
Goodwill and other intangibles$1,894
All other assets$1,279
Life insurance assets$0
Total liabilities and capital$45,975
Total liabilities$40,567
Total deposits$40,023
Interest-bearing deposits$40,023
Deposits held in domestic offices$40,023
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $103
Subordinated debt $0
All other liabilities $441
Total equity capital$5,408
Total bank equity capital$5,408
Perpetual preferred stock$5,408
Common stock$0
Surplus$388
Undivided profits $6,426
Memoranda
Noncurrent loans and leases $-1,406
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,548
Income earned, not collected on loans $0
Earning assets $49
Long-term assets (5+ years) $0
Average Assets, year-to-date $571
Average Assets, quarterly $40,316
Volatile liabilities $0
Insider loans $46,253
FHLB advances $46,003
Loans and leases held for sale $5,734
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $5,548
Restructured Loans and leases $0
Derivatives$199
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Income and Expense (December 31, 1999)
(Dollar figures in thousands)
Total interest income $2,971
Total interest expense $1,733
Net interest income $1,238
Provision for loan and lease losses $83
Total noninterest income $178
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $178
Total noninterest expense $1,329
Salaries and employee benefits $545
Premises and equipment expense $133
Additional noninterest expense $651
Pre-tax net operating income $4
Securities gains (losses) $2
Applicable income taxes -$29
Income before extraordinary items $35
Extraordinary gains - net $0
Net income attributable to bank $35
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $35
Net operating income $600
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Performance and Condition Ratios (December 31, 1999)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.29%
Cost of funding earning assets 4.25%
Net interest margin 3.04%
Noninterest income to earning assets 0.44%
Noninterest expense to earning assets 3.26%
Net operating income to assets 0.07%
Return on assets (ROA) 0.08%
Pretax return on assets 0.01%
Return on equity (ROE) 0.58%
Retained earnings to average equity (YTD only) -9.37%
Net charge-offs to loans 0.16%
Credit loss provision to net charge-offs 237.14%
Efficiency ratio2.49%
Assets per employee$78,319
Cash dividends to net income (YTD only)2.87%
Condition Ratios (%)
Loss allowance to loans 1714.29%
Loss allowance to noncurrent loans 0.82%
Noncurrent assets plus other real estate owned to assets 406.12%
Noncurrent loans to loans 0.16%
Net loans and leases to deposits0.20%
Net loans and leases to core deposits 59.88%
Equity capital to assets 69.68%
Core capital (leverage) ratio 11.76%
Tier 1 risk-based capital ratio 8.55%
Total risk-based capital ratio 15.33%
Memoranda
Average assets$16
Average earning assets$46,253
Average equity $6,033
Average loans $40,770
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