FDIC Certificate #: 57525 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Central Bank (#27234) Federal Reserve ID: 3150586 Date Established: March 17, 2003 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 364862 Numeric code: 21 Regulator: FDIC 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: March 17, 2003 Last Structure Change Effective Date: October 23, 2009 Last Structure Change Process Date: October 26, 2009 Last Data Update: October 26, 2009 Data Source Date: April 05, 2012
Location
Address: 9040 Quaday Avenue Ne, Suite 100, Otsego, MN 55330 County: Wright 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: $99.1 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
31Total employees (full-time equivalent)
$124,274Total assets
$3,415Cash and due from depository institutions
$1,386Interest-bearing balances
$16,913Securities
$6,050Federal funds sold & reverse repurchase agreements
$92,618Net loans & leases
$3,201Loan loss allowance
$0Trading account assets
$380Bank premises and fixed assets
$2,014Other real estate owned
$0Goodwill and other intangibles
$1,362Life insurance assets
$2,884All other assets
$124,274Total liabilities and capital
$118,476Total liabilities
$105,863Total deposits
$93,685Interest-bearing deposits
$105,863Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$11,650Other borrowed funds
$0Subordinated debt
$963All other liabilities
$5,798Total equity capital
$5,798Total bank equity capital
$5,798Perpetual preferred stock
$0Common stock
$100Surplus
$14,061Undivided profits
Memoranda
$-8,363Noncurrent loans and leases
$10,788Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$8,976Earning assets
$30Long-term assets (5+ years)
$633Average Assets, year-to-date
$116,967Average Assets, quarterly
$18,024Volatile liabilities
$135,593Insider loans
$127,995FHLB advances
$30,100Loans and leases held for sale
$3,238Unused loan commitments
$11,650Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$102Total risk weighted assets
$10,788Total unused commitments
$0Restructured Loans and leases
$1,296Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$8,508Total interest income
$4,611Total interest expense
$3,897Net interest income
$7,023Provision for loan and lease losses
$214Total noninterest income
$0Fiduciary activities
$154Service charges on deposit accounts
$0Trading account gains & fees
$60Additional noninterest income
$4,867Total noninterest expense
$2,335Salaries and employee benefits
$851Premises and equipment expense
$1,681Additional noninterest expense
-$7,779Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$7,779Income before extraordinary items
$0Extraordinary gains - net
-$7,779Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$5,404Sale, conversion, retirement of capital stock, net
$72Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.60%Yield on earning assets
3.58%Cost of funding earning assets
3.02%Net interest margin
0.17%Noninterest income to earning assets
3.78%Noninterest expense to earning assets
-5.74%Net operating income to assets
-5.74%Return on assets (ROA)
-5.74%Pretax return on assets
-76.44%Return on equity (ROE)
-77.14%Retained earnings to average equity (YTD only)
4.97%Net charge-offs to loans
129.96%Credit loss provision to net charge-offs
-0.14%Efficiency ratio
118,390Assets per employee
4.01%Cash dividends to net income (YTD only)
Condition Ratios (%)
-0.93%Loss allowance to loans
3.34%Loss allowance to noncurrent loans
35.66%Noncurrent assets plus other real estate owned to assets
8.84%Noncurrent loans to loans
9.37%Net loans and leases to deposits
87.49%Net loans and leases to core deposits
118.34%Equity capital to assets
4.67%Core capital (leverage) ratio
4.32%Tier 1 risk-based capital ratio
5.39%Total risk-based capital ratio
Memoranda
$7Average assets
$135,593Average earning assets
$10,177Average equity
$128,877Average loans
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