Security State Bank in Basin, Wyoming (WY)



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Security State Bank
GeneralFDIC Certificate #: 12592
Status: Active
Federal Reserve ID: 955959
Bank Holding Company (Regulatory Top Holder): Financial Security Corporation (RSSDID: 1060850, Location: Basin, WY)
Date Established: June 01, 1929
WWW: http://www.securitystatebk.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 15341
FDIC's unique #: 7996
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: No
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: 201 South Fourth Street, Basin, WY 82410
County: Big Horn
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Billings
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $303.4 mil
Equity capital: $28.5 mil
Deposits held in domestic offices: $256.7 mil
Return on assets (ROA): 1.05% ($3.2 mil)
Quarterly return on assets: 1.21% ($3.7 mil)
Return on Equity (ROE): 11.23% ($3.1 mil)
Quarterly return on equity: 12.96% ($3.6 mil)
Net income: $3.1 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 1.50% ($4,551.1 mil)
Quarterly Pretax return on assets: 1.74% ($5,279.3 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)
Total employees (full-time equivalent)63
Total assets$303,410
Cash and due from depository institutions$27,866
Interest-bearing balances$25,835
Securities$84,039
Federal funds sold & reverse repurchase agreements$2,900
Net loans & leases$172,144
Loan loss allowance $2,414
Trading account assets$0
Bank premises and fixed assets$7,488
Other real estate owned$190
Goodwill and other intangibles$0
All other assets$8,783
Life insurance assets$303,409
Total liabilities and capital$274,935
Total liabilities$256,746
Total deposits$239,823
Interest-bearing deposits$256,746
Deposits held in domestic offices$82
% insured (estimated)10718.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,704
Other borrowed funds $0
Subordinated debt $1,767
All other liabilities $28,474
Total equity capital$28,474
Total bank equity capital$28,474
Perpetual preferred stock$0
Common stock$75
Surplus$11,723
Undivided profits $16,676
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 $2,733
Earning assets $0
Long-term assets (5+ years) $1,630
Average Assets, year-to-date $284,918
Average Assets, quarterly $111,946
Volatile liabilities $290,758
Insider loans $300,721
FHLB advances $196,213
Loans and leases held for sale $305,823
Unused loan commitments $5,098
Tier 1 (core) risk-based capital $3,072
Tier 2 risk-based capital $27,661
Total risk weighted assets $0
Total unused commitments $2,026
Restructured Loans and leases $30,406
Derivatives$305
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,310
Total interest expense $2,955
Net interest income $10,355
Provision for loan and lease losses $340
Total noninterest income $1,191
Fiduciary activities $0
Service charges on deposit accounts $311
Trading account gains & fees $0
Additional noninterest income $880
Total noninterest expense $6,845
Salaries and employee benefits $3,871
Premises and equipment expense $1,033
Additional noninterest expense $1,941
Pre-tax net operating income $4,361
Securities gains (losses) $0
Applicable income taxes $1,309
Income before extraordinary items $3,052
Extraordinary gains - net $0
Net income attributable to bank $3,052
Net charge-offs $0
Cash dividends $3,052
Sale, conversion, retirement of capital stock, net $123
Net operating income $852
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.94%
Cost of funding earning assets 1.10%
Net interest margin 3.84%
Noninterest income to earning assets 0.44%
Noninterest expense to earning assets 2.54%
Net operating income to assets 1.05%
Return on assets (ROA) 1.05%
Pretax return on assets 1.50%
Return on equity (ROE) 11.23%
Retained earnings to average equity (YTD only) 8.10%
Net charge-offs to loans 0.07%
Credit loss provision to net charge-offs 276.42%
Efficiency ratio38.22%
Assets per employee$59,285
Cash dividends to net income (YTD only)4.82%
Condition Ratios (%)
Loss allowance to loans 27.92%
Loss allowance to noncurrent loans 1.38%
Noncurrent assets plus other real estate owned to assets 88.33%
Noncurrent loans to loans 0.96%
Net loans and leases to deposits1.57%
Net loans and leases to core deposits 67.05%
Equity capital to assets 73.44%
Core capital (leverage) ratio 9.38%
Tier 1 risk-based capital ratio 9.04%
Total risk-based capital ratio 14.10%
Memoranda
Average assets$15
Average earning assets$290,758
Average equity $27,174
Average loans $269,566
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4 Wyoming Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07996Security State Bank201 South Fourth Street, Basin, WY 82410June 01, 1929Full Service Brick and Mortar
13570082124 South Douglas Highway Branch2124 South Douglas Highway, Gillette, WY 82718January 03, 2000Full Service Brick and Mortar
2358626320 North 10th Branch320 North 10th, Worland, WY 82401November 29, 1999Full Service Brick and Mortar
34548892070 Coffeen Ave2070 Coffeen Ave, Sheridan, WY 82801August 28, 2006Full Service Brick and Mortar
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