FDIC Certificate #: 22660 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Highland Bank (#16111) Federal Reserve ID: 697455 Date Established: May 22, 1978 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 2 (Interstate: No) FDIC's unique #: 15813 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: May 22, 1978 Last Structure Change Effective Date: August 09, 2008 Last Structure Change Process Date: August 18, 2008 Last Data Update: August 18, 2008 Data Source Date: April 05, 2012
Location
Address: 1730 Plymouth Road, Minnetonka, MN 55305 County: Hennepin 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)
Financial Summary
Total assets: $115.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
23Total employees (full-time equivalent)
$96,557Total assets
$3,825Cash and due from depository institutions
$32Interest-bearing balances
$9,554Securities
$5,725Federal funds sold & reverse repurchase agreements
$75,080Net loans & leases
$715Loan loss allowance
$0Trading account assets
$684Bank premises and fixed assets
$300Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,389All other assets
$96,557Total liabilities and capital
$88,798Total liabilities
$87,607Total deposits
$63,158Interest-bearing deposits
$87,607Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,000Other borrowed funds
$0Subordinated debt
$191All other liabilities
$7,759Total equity capital
$7,759Total bank equity capital
$7,759Perpetual preferred stock
$0Common stock
$500Surplus
$6,000Undivided profits
Memoranda
$1,259Noncurrent loans and leases
$14,322Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,023Earning assets
$440Long-term assets (5+ years)
$531Average Assets, year-to-date
$90,391Average Assets, quarterly
$27,650Volatile liabilities
$100,326Insider loans
$99,398FHLB advances
$11,489Loans and leases held for sale
$2,025Unused loan commitments
$1,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$14,322Total unused commitments
$0Restructured Loans and leases
$715Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$6,262Total interest income
$2,482Total interest expense
$3,780Net interest income
$642Provision for loan and lease losses
$361Total noninterest income
$0Fiduciary activities
$233Service charges on deposit accounts
$0Trading account gains & fees
$128Additional noninterest income
$2,960Total noninterest expense
$1,563Salaries and employee benefits
$454Premises and equipment expense
$943Additional noninterest expense
$539Pre-tax net operating income
$0Securities gains (losses)
$2Applicable income taxes
$537Income before extraordinary items
$0Extraordinary gains - net
$537Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$799Sale, conversion, retirement of capital stock, net
$562Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.69%Yield on earning assets
2.65%Cost of funding earning assets
4.04%Net interest margin
0.39%Noninterest income to earning assets
3.16%Noninterest expense to earning assets
0.54%Net operating income to assets
0.54%Return on assets (ROA)
0.54%Pretax return on assets
6.98%Return on equity (ROE)
-0.32%Retained earnings to average equity (YTD only)
1.02%Net charge-offs to loans
80.35%Credit loss provision to net charge-offs
1.48%Efficiency ratio
71,480Assets per employee
4.20%Cash dividends to net income (YTD only)
Condition Ratios (%)
104.66%Loss allowance to loans
0.94%Loss allowance to noncurrent loans
69.89%Noncurrent assets plus other real estate owned to assets
1.37%Noncurrent loans to loans
1.35%Net loans and leases to deposits
85.70%Net loans and leases to core deposits
97.36%Equity capital to assets
8.04%Core capital (leverage) ratio
8.06%Tier 1 risk-based capital ratio
11.12%Total risk-based capital ratio
Memoranda
$12Average assets
$100,326Average earning assets
$7,697Average equity
$93,604Average loans
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