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

Security Bank Waconia - Overview

  • General
  • FDIC Certificate #: 24173
    Status: Active
    Federal Reserve ID: 190554
    Bank Holding Company (Regulatory Top Holder): Security Bancshares Co. (RSSDID: 1124789, Location: Glencoe, MN)
    Date Established: December 20, 1982
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 16831
    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: December 20, 1982
    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: 539 South Elm Street, Waconia, MN 55387
    County: Carver
    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
    Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
    CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $170.8 mil
    Equity capital: $15.9 mil
    Deposits held in domestic offices: $154.8 mil
    Return on assets (ROA): 0.72% ($1.2 mil)
    Quarterly return on assets: 0.40% ($0.7 mil)
    Return on Equity (ROE): 7.98% ($1.3 mil)
    Quarterly return on equity: 4.33% ($0.7 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.72% ($1,229.9 mil)
    Quarterly Pretax return on assets: 0.40% ($683.3 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
  • 32Total employees (full-time equivalent)
  • $170,825Total assets
  • $21,908Cash and due from depository institutions
  • $16,500Interest-bearing balances
  • $40,041Securities
  • $1,400Federal funds sold & reverse repurchase agreements
  • $97,696Net loans & leases
  • $2,431Loan loss allowance
  • $0Trading account assets
  • $3,640Bank premises and fixed assets
  • $5,133Other real estate owned
  • $0Goodwill and other intangibles
  • $170,825Life insurance assets
  • $1,007All other assets
  • $154,898Total liabilities and capital
  • $154,754Total liabilities
  • $134,271Total deposits
  • $154,754Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $144Subordinated debt
  • $15,927All other liabilities
  • $15,927Total equity capital
  • $15,927Total bank equity capital
  • $0Perpetual preferred stock
  • $730Common stock
  • $10,770Surplus
  • $4,427Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $592Income earned, not collected on loans
  • $0Earning assets
  • $595Long-term assets (5+ years)
  • $155,637Average Assets, year-to-date
  • $20,654Average Assets, quarterly
  • $170,942Volatile liabilities
  • $171,736Insider loans
  • $120,807FHLB advances
  • $173,819Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $15,552Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $12,502Restructured Loans and leases
  • $348Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,968Total interest income
  • $1,586Total interest expense
  • $6,382Net interest income
  • $1,535Provision for loan and lease losses
  • $717Total noninterest income
  • $0Fiduciary activities
  • $213Service charges on deposit accounts
  • $0Trading account gains & fees
  • $504Additional noninterest income
  • $4,364Total noninterest expense
  • $1,718Salaries and employee benefits
  • $919Premises and equipment expense
  • $1,727Additional noninterest expense
  • $1,200Pre-tax net operating income
  • $33Securities gains (losses)
  • $2Applicable income taxes
  • $1,231Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,231Net income attributable to bank
  • $0Net charge-offs
  • $1,231Cash dividends
  • $2,687Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.05%Yield on earning assets
  • 1.00%Cost of funding earning assets
  • 4.04%Net interest margin
  • 0.45%Noninterest income to earning assets
  • 2.76%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.72%Return on assets (ROA)
  • 0.72%Pretax return on assets
  • 7.98%Return on equity (ROE)
  • 7.98%Retained earnings to average equity (YTD only)
  • 2.40%Net charge-offs to loans
  • 57.13%Credit loss provision to net charge-offs
  • 1.02%Efficiency ratio
  • 61,065Assets per employee
  • 5.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.43%Loss allowance to noncurrent loans
  • 410.64%Noncurrent assets plus other real estate owned to assets
  • 3.35%Noncurrent loans to loans
  • 0.59%Net loans and leases to deposits
  • 63.13%Net loans and leases to core deposits
  • 64.28%Equity capital to assets
  • 9.32%Core capital (leverage) ratio
  • 8.95%Tier 1 risk-based capital ratio
  • 12.87%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $170,942Average earning assets
  • $15,433Average equity
  • $157,890Average loans

List of branches

  • 6 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016831Security Bank Waconia539 South Elm Street, Waconia, MN 55387December 20, 1982Full Service Brick and Mortar
    1257009Chaska Branch1575 White Oak Drive, Chaska, MN 55318April 01, 1992Full Service Brick and Mortar
    2222760Detached Facility317 Ash Avenue North, Mayer, MN 55360Febuary 01, 1978Limited Service Facility
    3222761New Germany Branch270 Broadway Street East, New Germany, MN 55367June 18, 1990Full Service Brick and Mortar
    4418734Instore Branch835 Market Place, Waconia, MN 55387April 16, 2003Full Service Retail
    5459446Cologne Branch1110 Village Parkway, Cologne, MN 55322October 23, 2006Full Service Brick and Mortar

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