Rural American Bank - Hector/Fairfax in Hector, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 11, 2006

Rural American Bank - Hector/Fairfax in Hector, Minnesota (MN)
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Rural American Bank - Hector/Fairfax - Overview

General
FDIC Certificate #: 10562
Status: Inactive
Closing history: Corrections
Acquiring institution: Valley Bank (#18845)
Federal Reserve ID: 948951
Date Established: September 28, 1931
WWW: http://www.hectorbank.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 6763
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: January 01, 1934
Last Structure Change Effective Date: September 11, 2006
Last Structure Change Process Date: October 06, 2006
Last Data Update: October 06, 2006
Data Source Date: April 05, 2012
Location
Address: Main Street, Hector, MN 55342
County: Renville
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Mankato
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $57.0 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, 2005)

Dollar figures in thousands
17Total employees (full-time equivalent)
$63,501Total assets
$2,588Cash and due from depository institutions
$0Interest-bearing balances
$14,384Securities
$2,746Federal funds sold & reverse repurchase agreements
$37,391Net loans & leases
$393Loan loss allowance
$0Trading account assets
$1,000Bank premises and fixed assets
$0Other real estate owned
$3,775Goodwill and other intangibles
$0Life insurance assets
$1,617All other assets
$63,501Total liabilities and capital
$54,353Total liabilities
$51,025Total deposits
$39,867Interest-bearing deposits
$51,025Deposits held in domestic offices
0.00%% insured (estimated)
$2,945Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$383All other liabilities
$9,148Total equity capital
$9,148Total bank equity capital
$9,148Perpetual preferred stock
$0Common stock
$275Surplus
$7,765Undivided profits
Memoranda
$1,108Noncurrent loans and leases
$12,292Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$5Earning assets
$0Long-term assets (5+ years)
$663Average Assets, year-to-date
$54,521Average Assets, quarterly
$2,630Volatile liabilities
$61,722Insider loans
$62,085FHLB advances
$5,450Loans and leases held for sale
$59Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$12,292Total unused commitments
$0Restructured Loans and leases
$393Derivatives

Income and Expense (December 31, 2005)

Dollar figures in thousands
$3,061Total interest income
$663Total interest expense
$2,398Net interest income
$1Provision for loan and lease losses
$318Total noninterest income
$0Fiduciary activities
$214Service charges on deposit accounts
$0Trading account gains & fees
$104Additional noninterest income
$1,486Total noninterest expense
$887Salaries and employee benefits
$168Premises and equipment expense
$431Additional noninterest expense
$1,229Pre-tax net operating income
$0Securities gains (losses)
-$43Applicable income taxes
$1,272Income before extraordinary items
$0Extraordinary gains - net
$1,272Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$2Sale, conversion, retirement of capital stock, net
$716Net operating income

Performance and Condition Ratios (December 31, 2005)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.71%Yield on earning assets
1.24%Cost of funding earning assets
4.47%Net interest margin
0.59%Noninterest income to earning assets
2.77%Noninterest expense to earning assets
2.06%Net operating income to assets
2.06%Return on assets (ROA)
1.99%Pretax return on assets
14.48%Return on equity (ROE)
6.33%Retained earnings to average equity (YTD only)
0.01%Net charge-offs to loans
50.00%Credit loss provision to net charge-offs
615.00%Efficiency ratio
54,713Assets per employee
3.74%Cash dividends to net income (YTD only)
Condition Ratios (%)
56.29%Loss allowance to loans
1.04%Loss allowance to noncurrent loans
7860.00%Noncurrent assets plus other real estate owned to assets
0.01%Noncurrent loans to loans
0.01%Net loans and leases to deposits
73.28%Net loans and leases to core deposits
77.06%Equity capital to assets
14.41%Core capital (leverage) ratio
9.76%Tier 1 risk-based capital ratio
12.65%Total risk-based capital ratio
Memoranda
$14Average assets
$61,722Average earning assets
$8,787Average equity
$53,590Average loans

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