Republic Bank, Inc. in Duluth, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Republic Bank, Inc. - Overview

  • General
  • FDIC Certificate #: 22618
    Status: Active
    Federal Reserve ID: 316354
    Bank Holding Company (Regulatory Top Holder): Republic Bancshares, Inc. (RSSDID: 2070584, Location: Duluth, MN)
    Date Established: March 01, 1978
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 11358
    FDIC's unique #: 15779
    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: March 01, 1978
    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: 4929 Decker Road, Duluth, MN 55811
    County: St. Louis
    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): Duluth-Superior, MN-WI (#2240)
    Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
    CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $314.8 mil
    Equity capital: $28.4 mil
    Deposits held in domestic offices: $266.4 mil
    Return on assets (ROA): 1.20% ($3.8 mil)
    Quarterly return on assets: 1.28% ($4.0 mil)
    Return on Equity (ROE): 13.22% ($3.7 mil)
    Quarterly return on equity: 13.93% ($3.9 mil)
    Net income: $3.7 mil
    Quarterly Net income: $1.0 mil
    Pretax return on assets: 1.20% ($3,777.6 mil)
    Quarterly Pretax return on assets: 1.28% ($4,029.4 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
  • 70Total employees (full-time equivalent)
  • $314,799Total assets
  • $17,361Cash and due from depository institutions
  • $11,951Interest-bearing balances
  • $8,830Securities
  • $24,150Federal funds sold & reverse repurchase agreements
  • $255,239Net loans & leases
  • $3,214Loan loss allowance
  • $0Trading account assets
  • $1,821Bank premises and fixed assets
  • $4,100Other real estate owned
  • $0Goodwill and other intangibles
  • $314,799Life insurance assets
  • $3,298All other assets
  • $286,395Total liabilities and capital
  • $266,431Total liabilities
  • $214,742Total deposits
  • $266,431Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $19,100Trading liabilities
  • $0Other borrowed funds
  • $864Subordinated debt
  • $28,404All other liabilities
  • $28,404Total equity capital
  • $28,404Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $22,000Surplus
  • $5,404Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,715Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,135Income earned, not collected on loans
  • $0Earning assets
  • $867Long-term assets (5+ years)
  • $300,170Average Assets, year-to-date
  • $23,290Average Assets, quarterly
  • $305,386Volatile liabilities
  • $310,497Insider loans
  • $258,541FHLB advances
  • $302,492Loans and leases held for sale
  • $181Unused loan commitments
  • $181Tier 1 (core) risk-based capital
  • $28,117Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $38,163Restructured Loans and leases
  • $13,365Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,942Total interest income
  • $2,561Total interest expense
  • $12,381Net interest income
  • $1,087Provision for loan and lease losses
  • $798Total noninterest income
  • $0Fiduciary activities
  • $613Service charges on deposit accounts
  • $0Trading account gains & fees
  • $185Additional noninterest income
  • $8,434Total noninterest expense
  • $5,043Salaries and employee benefits
  • $1,182Premises and equipment expense
  • $2,209Additional noninterest expense
  • $3,658Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $3,658Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,658Net income attributable to bank
  • $0Net charge-offs
  • $3,658Cash dividends
  • $1,692Sale, conversion, retirement of capital stock, net
  • $2,325Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.14%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 4.26%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 2.90%Noninterest expense to earning assets
  • 1.20%Net operating income to assets
  • 1.20%Return on assets (ROA)
  • 1.20%Pretax return on assets
  • 13.22%Return on equity (ROE)
  • 4.82%Retained earnings to average equity (YTD only)
  • 0.67%Net charge-offs to loans
  • 64.24%Credit loss provision to net charge-offs
  • 2.80%Efficiency ratio
  • 63,996Assets per employee
  • 4.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 63.56%Loss allowance to loans
  • 1.24%Loss allowance to noncurrent loans
  • 62.59%Noncurrent assets plus other real estate owned to assets
  • 2.93%Noncurrent loans to loans
  • 1.99%Net loans and leases to deposits
  • 95.80%Net loans and leases to core deposits
  • 106.53%Equity capital to assets
  • 9.02%Core capital (leverage) ratio
  • 9.30%Tier 1 risk-based capital ratio
  • 10.88%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $305,386Average earning assets
  • $27,677Average equity
  • $290,836Average loans

List of branches

  • 7 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015779Republic Bank, Inc.4929 Decker Road, Duluth, MN 55811March 01, 1978Full Service Brick and Mortar
    1255007Downtown Branch306 West Superior Street, Duluth, MN 55802May 04, 1987Full Service Brick and Mortar
    3255009Super One Branch5300 Bristol Street, Duluth, MN 55807April 12, 1994Full Service Retail
    4255010Woodland Avenue Branch1619 Woodland Avenue, Duluth, MN 55803May 06, 1997Full Service Brick and Mortar
    5255011Esko Branch3 Thomson Road, Esko, MN 55733November 24, 1997Full Service Brick and Mortar
    6357009Hibbing Branch2521 First Avenue, Hibbing, MN 55746November 02, 1999Full Service Brick and Mortar
    8471108Hermantown Branch5094 Miller Trunk Highway, Hermantown, MN 55811January 15, 2008Full Service Retail

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