RiverWood Bank in Bemidji, Minnesota (MN)



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RiverWood Bank
GeneralFDIC Certificate #: 27932
Status: Active
Federal Reserve ID: 685779
Date Established: January 01, 1910
WWW: http://www.riverwoodbank.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 566
FDIC's unique #: 40766
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: Febuary 09, 1938
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 214 Fifth St, Bemidji, MN 56601
County: Beltrami
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
Core Based Statistical Area (CBSA): Bemidji, MN (#13420)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $158.6 mil
Equity capital: $15.4 mil
Deposits held in domestic offices: $132.1 mil
Return on assets (ROA): -0.95% (-$1.5 mil)
Quarterly return on assets: 0.31% ($0.5 mil)
Return on Equity (ROE): -9.68% (-$1.5 mil)
Quarterly return on equity: 3.25% ($0.5 mil)
Net income: -$1.6 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: -1.03% (-$1,633.5 mil)
Quarterly Pretax return on assets: 0.51% ($808.8 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)
Total employees (full-time equivalent)34
Total assets$158,590
Cash and due from depository institutions$34,243
Interest-bearing balances$31,134
Securities$11,959
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$100,085
Loan loss allowance $2,161
Trading account assets$0
Bank premises and fixed assets$4,940
Other real estate owned$3,075
Goodwill and other intangibles$1,907
All other assets$2,381
Life insurance assets$158,590
Total liabilities and capital$143,145
Total liabilities$132,119
Total deposits$122,167
Interest-bearing deposits$132,119
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,500
Other borrowed funds $0
Subordinated debt $526
All other liabilities $15,445
Total equity capital$15,445
Total bank equity capital$15,445
Perpetual preferred stock$0
Common stock$100
Surplus$19,074
Undivided profits $-3,729
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $6,501
Earning assets $10
Long-term assets (5+ years) $653
Average Assets, year-to-date $143,178
Average Assets, quarterly $0
Volatile liabilities $165,618
Insider loans $161,307
FHLB advances $99,359
Loans and leases held for sale $156,044
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $13,002
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,351
Derivatives$1,233
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,727
Total interest expense $2,378
Net interest income $4,349
Provision for loan and lease losses $675
Total noninterest income $429
Fiduciary activities $0
Service charges on deposit accounts $217
Trading account gains & fees $0
Additional noninterest income $212
Total noninterest expense $5,807
Salaries and employee benefits $1,959
Premises and equipment expense $1,068
Additional noninterest expense $2,780
Pre-tax net operating income -$1,704
Securities gains (losses) $4
Applicable income taxes -$129
Income before extraordinary items -$1,571
Extraordinary gains - net $0
Net income attributable to bank -$1,571
Net charge-offs $0
Cash dividends -$1,571
Sale, conversion, retirement of capital stock, net $445
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.51%
Cost of funding earning assets 1.59%
Net interest margin 2.92%
Noninterest income to earning assets 0.29%
Noninterest expense to earning assets 3.89%
Net operating income to assets -0.95%
Return on assets (ROA) -0.95%
Pretax return on assets -1.03%
Return on equity (ROE) -9.68%
Retained earnings to average equity (YTD only) -9.68%
Net charge-offs to loans 0.40%
Credit loss provision to net charge-offs 151.69%
Efficiency ratio-2.31%
Assets per employee$92,465
Cash dividends to net income (YTD only)4.66%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.11%
Noncurrent assets plus other real estate owned to assets 33.24%
Noncurrent loans to loans 6.04%
Net loans and leases to deposits6.36%
Net loans and leases to core deposits 75.75%
Equity capital to assets 82.53%
Core capital (leverage) ratio 9.74%
Tier 1 risk-based capital ratio 8.33%
Total risk-based capital ratio 13.09%
Memoranda
Average assets$14
Average earning assets$165,618
Average equity $16,228
Average loans $149,109
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6 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
040766Riverwood Bank214 Fifth St, Bemidji, MN 56601January 01, 1910Full Service Brick and Mortar
100264215Bagley Branch22 First Street Northeast, Bagley, MN 56621January 01, 1910Full Service Brick and Mortar
101264216Baudette Branch109 Main Street West, Baudette, MN 56623January 01, 1910Full Service Brick and Mortar
102264217527 Minnesota Avenue Branch527 Minnesota Avenue, Walker, MN 56484June 30, 1987Full Service Brick and Mortar
103264218Paul Bunyan Branch1260 Paul Bunyan Drive Nw, Bemidji, MN 56601June 30, 1996Full Service Brick and Mortar
104449834Paul Bunyan Drive Branch2025 Paul Bunyan Drive, N.W., Bemidji, MN 56601June 30, 2002Full Service Brick and Mortar
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