Security Bank & Trust Company in Glencoe, Minnesota (MN)



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Security Bank & Trust Company
GeneralFDIC Certificate #: 15324
Status: Active
Federal Reserve ID: 1001059
Bank Holding Company (Regulatory Top Holder): Security Bancshares Co. (RSSDID: 1124789, Location: Glencoe, MN)
Date Established: October 12, 1935
WWW: http://www.security-banks.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Domestic: 7, Interstate: No)
FDIC's unique #: 9660
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: December 16, 1935
Last Structure Change Effective Date: June 30, 2006
Last Structure Change Process Date: Febuary 06, 2007
Last Data Update: Febuary 06, 2007
Data Source Date: April 05, 2012
LocationAddress: 735 11th Street East, Glencoe, MN 55336
County: Mcleod
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
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): Hutchinson, MN (#26780)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Location
Financial SummaryTotal assets: $237.2 mil
Equity capital: $20.5 mil
Deposits held in domestic offices: $211.7 mil
Return on assets (ROA): 1.37% ($3.2 mil)
Quarterly return on assets: 1.95% ($4.6 mil)
Return on Equity (ROE): 15.89% ($3.2 mil)
Quarterly return on equity: 22.31% ($4.5 mil)
Net income: $3.2 mil
Quarterly Net income: $1.2 mil
Pretax return on assets: 1.37% ($3,249.9 mil)
Quarterly Pretax return on assets: 1.95% ($4,625.7 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)
Total employees (full-time equivalent)48
Total assets$237,216
Cash and due from depository institutions$24,738
Interest-bearing balances$20,000
Securities$67,587
Federal funds sold & reverse repurchase agreements$2,622
Net loans & leases$132,493
Loan loss allowance $3,306
Trading account assets$0
Bank premises and fixed assets$3,297
Other real estate owned$4,346
Goodwill and other intangibles$0
All other assets$2,133
Life insurance assets$237,216
Total liabilities and capital$216,763
Total liabilities$211,685
Total deposits$188,998
Interest-bearing deposits$211,685
Deposits held in domestic offices$80
% insured (estimated)4775.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $303
All other liabilities $20,453
Total equity capital$20,453
Total bank equity capital$20,453
Perpetual preferred stock$0
Common stock$100
Surplus$14,400
Undivided profits $5,953
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 $366
Earning assets $0
Long-term assets (5+ years) $1,479
Average Assets, year-to-date $222,702
Average Assets, quarterly $37,859
Volatile liabilities $232,985
Insider loans $237,697
FHLB advances $163,350
Loans and leases held for sale $236,303
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $19,534
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $25,577
Derivatives$62
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,365
Total interest expense $2,398
Net interest income $7,967
Provision for loan and lease losses $560
Total noninterest income $2,063
Fiduciary activities $1,208
Service charges on deposit accounts $280
Trading account gains & fees $0
Additional noninterest income $575
Total noninterest expense $6,057
Salaries and employee benefits $2,410
Premises and equipment expense $693
Additional noninterest expense $2,954
Pre-tax net operating income $3,413
Securities gains (losses) -$223
Applicable income taxes $5
Income before extraordinary items $3,185
Extraordinary gains - net $0
Net income attributable to bank $3,185
Net charge-offs $0
Cash dividends $3,185
Sale, conversion, retirement of capital stock, net $481
Net operating income $1,700
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.73%
Cost of funding earning assets 1.09%
Net interest margin 3.63%
Noninterest income to earning assets 0.94%
Noninterest expense to earning assets 2.76%
Net operating income to assets 1.46%
Return on assets (ROA) 1.37%
Pretax return on assets 1.37%
Return on equity (ROE) 15.89%
Retained earnings to average equity (YTD only) 7.41%
Net charge-offs to loans 0.34%
Credit loss provision to net charge-offs 116.42%
Efficiency ratio8.26%
Assets per employee$60,389
Cash dividends to net income (YTD only)4.94%
Condition Ratios (%)
Loss allowance to loans 53.38%
Loss allowance to noncurrent loans 2.43%
Noncurrent assets plus other real estate owned to assets 903.28%
Noncurrent loans to loans 1.99%
Net loans and leases to deposits0.27%
Net loans and leases to core deposits 62.59%
Equity capital to assets 65.90%
Core capital (leverage) ratio 8.62%
Tier 1 risk-based capital ratio 8.27%
Total risk-based capital ratio 11.96%
Memoranda
Average assets$13
Average earning assets$232,985
Average equity $20,046
Average loans $219,282
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$204,515
Number of Accounts1
Personal trust and agency accounts$198,677
Employee benefit-defined contribution accounts$130,257
Employee benefit-defined benefit accounts$24,616
Other retirement accounts$0
Corporate trust and agency accounts$20,181
Investment management agency accounts$0
Other fiduciary accounts$23,623
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts377
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$20,134
Employee benefit-defined benefit accounts$0
Other retirement accounts$5,838
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$4,131
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7 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09660Security Bank & Trust Company735 11th Street East, Glencoe, MN 55336October 12, 1935Full Service Brick and Mortar
1233691Detached Facility8 Third Street Southwest, Plato, MN 55370September 16, 1980Limited Service Facility
2233692East End Detached Facility2202 11th Street East, Glencoe, MN 55336December 07, 1981Limited Service Facility
4233694Limited Trust Service Branch539 South Elm Street, Waconia, MN 55387December 04, 1989Limited Service Trust
51047Brownton Branch128 Fourth Avenue, Brownton, MN 55312April 19, 1892Full Service Brick and Mortar
6420143Limited Trust Service7101 West 78th Street, Bloomington, MN 55420April 02, 2003Limited Service Trust
7426558New Auburn Branch7422 Seventh Avenue, New Auburn, MN 55366March 15, 2004Full Service Brick and Mortar
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