Security Bank Minnesota in Albert Lea, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


Security Bank Minnesota - Overview

  • General
  • FDIC Certificate #: 10984
    Status: Active
    Federal Reserve ID: 295057
    Bank Holding Company (Regulatory Top Holder): Lake Bank Shares, Inc. Employee Stock Ownership Plan (RSSDID: 2728438, Location: Albert Lea, MN)
    Date Established: January 01, 1906
    WWW: http://www.securitybankmn.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 10501
    FDIC's unique #: 7036
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 427 Bridge Avenue, Albert Lea, MN 56007
    County: Freeborn
    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
    Core Based Statistical Area (CBSA): Albert Lea, MN (#10660)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $93.8 mil
    Equity capital: $10.7 mil
    Deposits held in domestic offices: $74.2 mil
    Return on assets (ROA): 1.22% ($1.1 mil)
    Quarterly return on assets: 1.02% ($1.0 mil)
    Return on Equity (ROE): 11.94% ($1.3 mil)
    Quarterly return on equity: 8.94% ($1.0 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.22% ($1,144.3 mil)
    Quarterly Pretax return on assets: 1.02% ($956.7 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
  • 26Total employees (full-time equivalent)
  • $93,793Total assets
  • $2,553Cash and due from depository institutions
  • $547Interest-bearing balances
  • $31,716Securities
  • $835Federal funds sold & reverse repurchase agreements
  • $55,780Net loans & leases
  • $931Loan loss allowance
  • $0Trading account assets
  • $305Bank premises and fixed assets
  • $44Other real estate owned
  • $0Goodwill and other intangibles
  • $93,793Life insurance assets
  • $2,560All other assets
  • $83,046Total liabilities and capital
  • $74,166Total liabilities
  • $59,071Total deposits
  • $74,166Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 7700.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,000Trading liabilities
  • $0Other borrowed funds
  • $180Subordinated debt
  • $10,747All other liabilities
  • $10,747Total equity capital
  • $10,747Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $6,500Surplus
  • $4,147Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $505Income earned, not collected on loans
  • $0Earning assets
  • $487Long-term assets (5+ years)
  • $88,878Average Assets, year-to-date
  • $32,794Average Assets, quarterly
  • $91,515Volatile liabilities
  • $93,555Insider loans
  • $63,321FHLB advances
  • $95,914Loans and leases held for sale
  • $930Unused loan commitments
  • $930Tier 1 (core) risk-based capital
  • $9,437Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,831Restructured Loans and leases
  • $784Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,834Total interest income
  • $553Total interest expense
  • $4,281Net interest income
  • $590Provision for loan and lease losses
  • $213Total noninterest income
  • $0Fiduciary activities
  • $204Service charges on deposit accounts
  • $0Trading account gains & fees
  • $9Additional noninterest income
  • $2,787Total noninterest expense
  • $1,546Salaries and employee benefits
  • $264Premises and equipment expense
  • $977Additional noninterest expense
  • $1,117Pre-tax net operating income
  • $4Securities gains (losses)
  • $0Applicable income taxes
  • $1,121Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,121Net income attributable to bank
  • $0Net charge-offs
  • $1,121Cash dividends
  • $437Sale, conversion, retirement of capital stock, net
  • $350Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.58%Yield on earning assets
  • 0.64%Cost of funding earning assets
  • 4.95%Net interest margin
  • 0.25%Noninterest income to earning assets
  • 3.22%Noninterest expense to earning assets
  • 1.22%Net operating income to assets
  • 1.22%Return on assets (ROA)
  • 1.22%Pretax return on assets
  • 11.94%Return on equity (ROE)
  • 8.21%Retained earnings to average equity (YTD only)
  • 0.75%Net charge-offs to loans
  • 135.01%Credit loss provision to net charge-offs
  • 3.91%Efficiency ratio
  • 62,016Assets per employee
  • 3.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 31.22%Loss allowance to loans
  • 1.64%Loss allowance to noncurrent loans
  • 184.36%Noncurrent assets plus other real estate owned to assets
  • 0.59%Noncurrent loans to loans
  • 0.89%Net loans and leases to deposits
  • 75.21%Net loans and leases to core deposits
  • 79.22%Equity capital to assets
  • 11.46%Core capital (leverage) ratio
  • 9.84%Tier 1 risk-based capital ratio
  • 14.90%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $91,515Average earning assets
  • $9,387Average equity
  • $86,557Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07036Security Bank Minnesota427 Bridge Avenue, Albert Lea, MN 56007January 01, 1906Full Service Brick and Mortar
    33440Security Bank Minnesota - Emmons201 Main Street, Emmons, MN 56029May 16, 1903Full Service Brick and Mortar

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