Security Savings Bank in Gowrie, Iowa (IA)



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Security Savings Bank
GeneralFDIC Certificate #: 14208
Status: Active
Federal Reserve ID: 616540
Bank Holding Company (Regulatory Top Holder): Security Financial, Inc. (RSSDID: 2339928, Location: Farnhamville, IA)
Date Established: April 18, 1914
WWW: http://www.securitysavingsbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 15663
FDIC's unique #: 8873
Numeric code: 13
Regulator: FED
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: April 06, 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: 1015 Market, Gowrie, IA 50543
County: Webster
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Fort Dodge, IA (#22700)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $100.8 mil
Equity capital: $9.0 mil
Deposits held in domestic offices: $86.6 mil
Return on assets (ROA): 1.33% ($1.3 mil)
Quarterly return on assets: 1.53% ($1.5 mil)
Return on Equity (ROE): 16.43% ($1.5 mil)
Quarterly return on equity: 17.40% ($1.6 mil)
Net income: $1.3 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.40% ($1,410.8 mil)
Quarterly Pretax return on assets: 1.62% ($1,632.5 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)30
Total assets$100,773
Cash and due from depository institutions$2,583
Interest-bearing balances$151
Securities$41,401
Federal funds sold & reverse repurchase agreements$701
Net loans & leases$51,715
Loan loss allowance $544
Trading account assets$0
Bank premises and fixed assets$904
Other real estate owned$92
Goodwill and other intangibles$109
All other assets$3,268
Life insurance assets$100,773
Total liabilities and capital$91,755
Total liabilities$86,619
Total deposits$74,155
Interest-bearing deposits$86,619
Deposits held in domestic offices$87
% insured (estimated)1000.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,000
Other borrowed funds $0
Subordinated debt $1,136
All other liabilities $9,018
Total equity capital$9,018
Total bank equity capital$9,018
Perpetual preferred stock$0
Common stock$400
Surplus$1,000
Undivided profits $7,618
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 $103
Earning assets $0
Long-term assets (5+ years) $988
Average Assets, year-to-date $93,968
Average Assets, quarterly $38,988
Volatile liabilities $97,162
Insider loans $98,775
FHLB advances $60,351
Loans and leases held for sale $98,913
Unused loan commitments $1,578
Tier 1 (core) risk-based capital $1,578
Tier 2 risk-based capital $7,962
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,191
Derivatives$369
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,270
Total interest expense $1,132
Net interest income $3,138
Provision for loan and lease losses $270
Total noninterest income $533
Fiduciary activities $0
Service charges on deposit accounts $313
Trading account gains & fees $0
Additional noninterest income $220
Total noninterest expense $2,369
Salaries and employee benefits $1,478
Premises and equipment expense $198
Additional noninterest expense $693
Pre-tax net operating income $1,032
Securities gains (losses) $330
Applicable income taxes $71
Income before extraordinary items $1,291
Extraordinary gains - net $0
Net income attributable to bank $1,291
Net charge-offs $0
Cash dividends $1,291
Sale, conversion, retirement of capital stock, net $202
Net operating income $127
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.74%
Cost of funding earning assets 1.26%
Net interest margin 3.48%
Noninterest income to earning assets 0.59%
Noninterest expense to earning assets 2.63%
Net operating income to assets 1.01%
Return on assets (ROA) 1.33%
Pretax return on assets 1.40%
Return on equity (ROE) 16.43%
Retained earnings to average equity (YTD only) 14.81%
Net charge-offs to loans 0.42%
Credit loss provision to net charge-offs 133.66%
Efficiency ratio6.45%
Assets per employee$64,533
Cash dividends to net income (YTD only)3.36%
Condition Ratios (%)
Loss allowance to loans 9.84%
Loss allowance to noncurrent loans 1.04%
Noncurrent assets plus other real estate owned to assets 528.16%
Noncurrent loans to loans 0.19%
Net loans and leases to deposits0.20%
Net loans and leases to core deposits 59.70%
Equity capital to assets 63.60%
Core capital (leverage) ratio 8.95%
Tier 1 risk-based capital ratio 8.05%
Total risk-based capital ratio 13.19%
Memoranda
Average assets$14
Average earning assets$97,162
Average equity $7,860
Average loans $90,161
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6 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08873Security Savings Bank1015 Market, Gowrie, IA 50543April 18, 1914Full Service Brick and Mortar
1219476Lehigh Branch116 Main Street, Lehigh, IA 50557Febuary 01, 1934Full Service Brick and Mortar
28060Harcourt Branch127 South Ash Street, Harcourt, IA 50544June 26, 1905Full Service Brick and Mortar
3231165Farnhamville Branch320 Garfield Avenue, Farnhamville, IA 50538December 09, 1996Full Service Brick and Mortar
4189773Boxholm Branch200 Second Street, Boxholm, IA 50040December 28, 1934Full Service Brick and Mortar
5465722Dayton Branch39 South Main St, Dayton, IA 50530April 01, 2007Full Service Brick and Mortar
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