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

  • Security State Bank in Algona, Iowa (IA)
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Security State Bank - Overview

  • General
  • FDIC Certificate #: 15839
    Status: Active
    Federal Reserve ID: 750846
    Bank Holding Company (Regulatory Top Holder): Burt Bancshares, Inc. (RSSDID: 1206032, Location: Burt, IA)
    Date Established: March 01, 1931
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 10080
    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: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: August 15, 1941
    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: 1 East State Street, Algona, IA 50511
    County: Kossuth
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $86.2 mil
    Equity capital: $9.0 mil
    Deposits held in domestic offices: $76.8 mil
    Return on assets (ROA): 0.98% ($0.8 mil)
    Quarterly return on assets: 1.23% ($1.1 mil)
    Return on Equity (ROE): 9.17% ($0.8 mil)
    Quarterly return on equity: 11.69% ($1.1 mil)
    Net income: $0.8 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.33% ($1,145.8 mil)
    Quarterly Pretax return on assets: 1.53% ($1,318.1 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
  • 15Total employees (full-time equivalent)
  • $86,152Total assets
  • $3,789Cash and due from depository institutions
  • $2,640Interest-bearing balances
  • $14,344Securities
  • $11,117Federal funds sold & reverse repurchase agreements
  • $54,225Net loans & leases
  • $1,121Loan loss allowance
  • $0Trading account assets
  • $454Bank premises and fixed assets
  • $112Other real estate owned
  • $0Goodwill and other intangibles
  • $86,152Life insurance assets
  • $2,111All other assets
  • $77,126Total liabilities and capital
  • $76,822Total liabilities
  • $61,163Total deposits
  • $76,822Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $304Subordinated debt
  • $9,026All other liabilities
  • $9,026Total equity capital
  • $9,026Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $900Surplus
  • $8,026Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $118Income earned, not collected on loans
  • $0Earning assets
  • $690Long-term assets (5+ years)
  • $82,326Average Assets, year-to-date
  • $6,422Average Assets, quarterly
  • $80,003Volatile liabilities
  • $84,392Insider loans
  • $70,210FHLB advances
  • $84,967Loans and leases held for sale
  • $655Unused loan commitments
  • $655Tier 1 (core) risk-based capital
  • $8,756Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $8,312Restructured Loans and leases
  • $2,000Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,360Total interest income
  • $689Total interest expense
  • $2,671Net interest income
  • $145Provision for loan and lease losses
  • $223Total noninterest income
  • $0Fiduciary activities
  • $120Service charges on deposit accounts
  • $0Trading account gains & fees
  • $103Additional noninterest income
  • $1,683Total noninterest expense
  • $985Salaries and employee benefits
  • $133Premises and equipment expense
  • $565Additional noninterest expense
  • $1,066Pre-tax net operating income
  • $0Securities gains (losses)
  • $281Applicable income taxes
  • $785Income before extraordinary items
  • $0Extraordinary gains - net
  • $785Net income attributable to bank
  • $0Net charge-offs
  • $785Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $60Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.44%Yield on earning assets
  • 0.91%Cost of funding earning assets
  • 3.53%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 2.22%Noninterest expense to earning assets
  • 0.98%Net operating income to assets
  • 0.98%Return on assets (ROA)
  • 1.33%Pretax return on assets
  • 9.17%Return on equity (ROE)
  • 8.47%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 58,155Assets per employee
  • 5.74%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 7.64%Loss allowance to loans
  • 2.03%Loss allowance to noncurrent loans
  • 950.00%Noncurrent assets plus other real estate owned to assets
  • 0.27%Noncurrent loans to loans
  • 0.21%Net loans and leases to deposits
  • 70.59%Net loans and leases to core deposits
  • 76.47%Equity capital to assets
  • 10.48%Core capital (leverage) ratio
  • 10.31%Tier 1 risk-based capital ratio
  • 12.47%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $80,003Average earning assets
  • $8,559Average equity
  • $75,672Average 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
  • $63Managed 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
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 15Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $63Other retirement accounts
  • $63Corporate 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
    010080Security State Bank1 East State Street, Algona, IA 50511March 01, 1931Full Service Brick and Mortar
    1235617Dewitt Street Branch102 Dewitt Street, Luverne, IA 50560October 01, 1994Full Service Brick and Mortar
    2357382Walnut Street Branch122 Walnut Street, Burt, IA 50522March 09, 2000Full Service Brick and Mortar

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