Security State Bank in Waverly, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Security State Bank - Overview

  • General
  • FDIC Certificate #: 15738
    Status: Active
    Federal Reserve ID: 306140
    Bank Holding Company (Regulatory Top Holder): Fayette Bancorporation (RSSDID: 1204355, Location: Marion, IA)
    Date Established: April 23, 1940
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 9993
    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: April 23, 1940
    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: 933 16th Street, Southwest, Waverly, IA 50677
    County: Bremer
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Core Based Statistical Area (CBSA): Waterloo-Cedar Falls, IA (#47940)
    CBSA Metro Statistical Area: Waterloo-Cedar Falls, IA (#47940)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $75.5 mil
    Equity capital: $7.8 mil
    Deposits held in domestic offices: $58.9 mil
    Return on assets (ROA): 1.23% ($0.9 mil)
    Quarterly return on assets: 1.01% ($0.8 mil)
    Return on Equity (ROE): 12.78% ($1.0 mil)
    Quarterly return on equity: 9.44% ($0.8 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.30% ($981.6 mil)
    Quarterly Pretax return on assets: 1.06% ($800.4 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
  • 13Total employees (full-time equivalent)
  • $75,508Total assets
  • $12,127Cash and due from depository institutions
  • $8,241Interest-bearing balances
  • $23,035Securities
  • $4,350Federal funds sold & reverse repurchase agreements
  • $32,492Net loans & leases
  • $384Loan loss allowance
  • $0Trading account assets
  • $1,822Bank premises and fixed assets
  • $320Other real estate owned
  • $0Goodwill and other intangibles
  • $75,508Life insurance assets
  • $1,362All other assets
  • $67,665Total liabilities and capital
  • $58,927Total liabilities
  • $48,310Total deposits
  • $58,927Interest-bearing deposits
  • $74Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,500Trading liabilities
  • $0Other borrowed funds
  • $238Subordinated debt
  • $7,843All other liabilities
  • $7,843Total equity capital
  • $7,843Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $1,000Surplus
  • $6,793Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $45Income earned, not collected on loans
  • $0Earning assets
  • $666Long-term assets (5+ years)
  • $68,118Average Assets, year-to-date
  • $17,376Average Assets, quarterly
  • $74,184Volatile liabilities
  • $73,018Insider loans
  • $43,621FHLB advances
  • $75,087Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,023Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,082Restructured Loans and leases
  • $54Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,036Total interest income
  • $763Total interest expense
  • $2,273Net interest income
  • $0Provision for loan and lease losses
  • $198Total noninterest income
  • $1Fiduciary activities
  • $107Service charges on deposit accounts
  • $0Trading account gains & fees
  • $90Additional noninterest income
  • $1,509Total noninterest expense
  • $834Salaries and employee benefits
  • $347Premises and equipment expense
  • $328Additional noninterest expense
  • $962Pre-tax net operating income
  • $0Securities gains (losses)
  • $49Applicable income taxes
  • $913Income before extraordinary items
  • $0Extraordinary gains - net
  • $913Net income attributable to bank
  • $0Net charge-offs
  • $913Cash dividends
  • $2Sale, conversion, retirement of capital stock, net
  • $760Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.42%Yield on earning assets
  • 1.11%Cost of funding earning assets
  • 3.31%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 2.20%Noninterest expense to earning assets
  • 1.23%Net operating income to assets
  • 1.23%Return on assets (ROA)
  • 1.30%Pretax return on assets
  • 12.78%Return on equity (ROE)
  • 2.14%Retained earnings to average equity (YTD only)
  • 0.01%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 481.00%Efficiency ratio
  • 61,068Assets per employee
  • 5.81%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 83.24%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 853.33%Noncurrent assets plus other real estate owned to assets
  • 0.48%Noncurrent loans to loans
  • 0.14%Net loans and leases to deposits
  • 55.14%Net loans and leases to core deposits
  • 55.14%Equity capital to assets
  • 10.39%Core capital (leverage) ratio
  • 9.35%Tier 1 risk-based capital ratio
  • 16.10%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $74,184Average earning assets
  • $7,145Average equity
  • $68,705Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $238Managed Assets
  • 1Number of Accounts
  • $238Personal trust and agency accounts
  • $238Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09993Security State Bank933 16th Street, Southwest, Waverly, IA 50677April 23, 1940Full Service Brick and Mortar
    1235105Shell Rock Branch104 N. Cherry, Shell Rock, IA 50670January 04, 1993Full Service Brick and Mortar
    2452310Security State Bank Branch607 6th St. South, Springville, IA 52336November 26, 2004Full Service Brick and Mortar

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