Security Bank USA in Bemidji, Minnesota (MN)

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Security Bank USA
GeneralFDIC Certificate #: 1604
Status: Active
Federal Reserve ID: 950758
Bank Holding Company (Regulatory Top Holder): Security State Bancshares Of Bemidji, Inc. (RSSDID: 1125496, Location: Bemidji, MN)
Date Established: Febuary 07, 1910
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 14181
FDIC's unique #: 1048
Numeric code: 21
Regulator: FDIC
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
LocationAddress: 1025 Paul Bunyan Drive, N.W., Bemidji, MN 56601
County: Beltrami
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Bemidji, MN (#13420)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $106.3 mil
Equity capital: $10.2 mil
Deposits held in domestic offices: $92.7 mil
Return on assets (ROA): 1.26% ($1.3 mil)
Quarterly return on assets: 1.32% ($1.4 mil)
Return on Equity (ROE): 13.74% ($1.4 mil)
Quarterly return on equity: 13.98% ($1.4 mil)
Net income: $1.4 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.26% ($1,339.8 mil)
Quarterly Pretax return on assets: 1.32% ($1,403.6 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)32
Total assets$106,333
Cash and due from depository institutions$8,947
Interest-bearing balances$6,057
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$83,997
Loan loss allowance $1,008
Trading account assets$0
Bank premises and fixed assets$4,705
Other real estate owned$1,122
Goodwill and other intangibles$600
All other assets$1,220
Life insurance assets$106,333
Total liabilities and capital$96,147
Total liabilities$92,673
Total deposits$79,810
Interest-bearing deposits$92,673
Deposits held in domestic offices$87
% insured (estimated)3186.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $288
All other liabilities $10,186
Total equity capital$10,186
Total bank equity capital$10,186
Perpetual preferred stock$0
Common stock$120
Undivided profits $4,186
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $645
Income earned, not collected on loans $2,737
Earning assets $167
Long-term assets (5+ years) $399
Average Assets, year-to-date $95,796
Average Assets, quarterly $12,927
Volatile liabilities $108,469
Insider loans $108,492
FHLB advances $89,822
Loans and leases held for sale $108,724
Unused loan commitments $52
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $10,102
Total risk weighted assets $52
Total unused commitments $0
Restructured Loans and leases $13,756
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,033
Total interest expense $825
Net interest income $4,208
Provision for loan and lease losses $480
Total noninterest income $1,187
Fiduciary activities $0
Service charges on deposit accounts $407
Trading account gains & fees $0
Additional noninterest income $780
Total noninterest expense $3,550
Salaries and employee benefits $1,776
Premises and equipment expense $656
Additional noninterest expense $1,118
Pre-tax net operating income $1,365
Securities gains (losses) $0
Applicable income taxes $2
Income before extraordinary items $1,363
Extraordinary gains - net $0
Net income attributable to bank $1,363
Net charge-offs $0
Cash dividends $1,363
Sale, conversion, retirement of capital stock, net $618
Net operating income $588
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.16%
Cost of funding earning assets 0.85%
Net interest margin 4.32%
Noninterest income to earning assets 1.22%
Noninterest expense to earning assets 3.64%
Net operating income to assets 1.26%
Return on assets (ROA) 1.26%
Pretax return on assets 1.26%
Return on equity (ROE) 13.74%
Retained earnings to average equity (YTD only) 7.81%
Net charge-offs to loans 0.73%
Credit loss provision to net charge-offs 77.67%
Efficiency ratio2.99%
Assets per employee$65,802
Cash dividends to net income (YTD only)3.32%
Condition Ratios (%)
Loss allowance to loans 43.14%
Loss allowance to noncurrent loans 1.19%
Noncurrent assets plus other real estate owned to assets 36.83%
Noncurrent loans to loans 3.63%
Net loans and leases to deposits3.22%
Net loans and leases to core deposits 90.64%
Equity capital to assets 94.01%
Core capital (leverage) ratio 9.58%
Tier 1 risk-based capital ratio 9.29%
Total risk-based capital ratio 11.25%
Average assets$12
Average earning assets$108,469
Average equity $9,918
Average loans $97,487
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01048Security Bank Usa1025 Paul Bunyan Drive, N.W., Bemidji, MN 56601Febuary 07, 1910Full Service Brick and Mortar
1189900Detached Facility104-106 Fourth Street, Bemidji, MN 56601December 22, 1975Limited Service Facility
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