Rushford State Bank (Incorporated) in Rushford, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Rushford State Bank (Incorporated) - Overview

  • General
  • FDIC Certificate #: 11411
    Status: Active
    Federal Reserve ID: 884657
    Bank Holding Company (Regulatory Top Holder): Rushford State Bancorp, Inc. (RSSDID: 1132195, Location: Rushford, MN)
    Date Established: March 07, 1867
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 7285
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: January 04, 2007
    Last Structure Change Process Date: January 10, 2007
    Last Data Update: January 10, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 219 S. Mill Street, Rushford, MN 55971
    County: Fillmore
    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
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $46.9 mil
    Equity capital: $3.8 mil
    Deposits held in domestic offices: $41.2 mil
    Return on assets (ROA): 0.94% ($0.4 mil)
    Quarterly return on assets: 0.84% ($0.4 mil)
    Return on Equity (ROE): 12.01% ($0.5 mil)
    Quarterly return on equity: 10.64% ($0.4 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.94% ($441.3 mil)
    Quarterly Pretax return on assets: 0.84% ($394.3 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
  • 14Total employees (full-time equivalent)
  • $46,945Total assets
  • $3,267Cash and due from depository institutions
  • $2,080Interest-bearing balances
  • $7,322Securities
  • $1,064Federal funds sold & reverse repurchase agreements
  • $33,127Net loans & leases
  • $349Loan loss allowance
  • $0Trading account assets
  • $661Bank premises and fixed assets
  • $58Other real estate owned
  • $0Goodwill and other intangibles
  • $46,945Life insurance assets
  • $1,446All other assets
  • $43,145Total liabilities and capital
  • $41,199Total liabilities
  • $34,332Total deposits
  • $41,199Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,800Trading liabilities
  • $0Other borrowed funds
  • $146Subordinated debt
  • $3,800All other liabilities
  • $3,800Total equity capital
  • $3,800Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $2,700Surplus
  • $1,000Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $405Income earned, not collected on loans
  • $0Earning assets
  • $363Long-term assets (5+ years)
  • $43,593Average Assets, year-to-date
  • $10,008Average Assets, quarterly
  • $46,617Volatile liabilities
  • $47,501Insider loans
  • $33,466FHLB advances
  • $48,443Loans and leases held for sale
  • $706Unused loan commitments
  • $706Tier 1 (core) risk-based capital
  • $3,663Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,642Restructured Loans and leases
  • $51Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,564Total interest income
  • $475Total interest expense
  • $2,089Net interest income
  • $90Provision for loan and lease losses
  • $177Total noninterest income
  • $0Fiduciary activities
  • $98Service charges on deposit accounts
  • $0Trading account gains & fees
  • $79Additional noninterest income
  • $1,737Total noninterest expense
  • $907Salaries and employee benefits
  • $186Premises and equipment expense
  • $644Additional noninterest expense
  • $439Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $439Income before extraordinary items
  • $0Extraordinary gains - net
  • $439Net income attributable to bank
  • $0Net charge-offs
  • $439Cash dividends
  • $194Sale, conversion, retirement of capital stock, net
  • $239Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.91%Yield on earning assets
  • 1.10%Cost of funding earning assets
  • 4.82%Net interest margin
  • 0.41%Noninterest income to earning assets
  • 4.01%Noninterest expense to earning assets
  • 0.94%Net operating income to assets
  • 0.94%Return on assets (ROA)
  • 0.94%Pretax return on assets
  • 12.01%Return on equity (ROE)
  • 5.47%Retained earnings to average equity (YTD only)
  • 0.56%Net charge-offs to loans
  • 46.39%Credit loss provision to net charge-offs
  • 2.73%Efficiency ratio
  • 76,655Assets per employee
  • 3.35%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.44%Loss allowance to loans
  • 1.04%Loss allowance to noncurrent loans
  • 86.17%Noncurrent assets plus other real estate owned to assets
  • 0.99%Noncurrent loans to loans
  • 1.21%Net loans and leases to deposits
  • 80.41%Net loans and leases to core deposits
  • 82.39%Equity capital to assets
  • 8.09%Core capital (leverage) ratio
  • 7.56%Tier 1 risk-based capital ratio
  • 10.95%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $46,617Average earning assets
  • $3,657Average equity
  • $43,352Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07285Rushford State Bank (Incorporated)219 S. Mill Street, Rushford, MN 55971March 07, 1867Full Service Brick and Mortar
    2486614Rushford State Bank Houston Office119 East Cedar Street, Houston, MN 55943January 05, 2009Full Service Retail

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