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

This bank is inactive as of November 06, 2004

  • Security State Bank in Red Oak, Iowa (IA)
  • Show street view No street view available for this location

Security State Bank - Overview

  • General
  • FDIC Certificate #: 16951
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Great Western Bank (#35516)
    Federal Reserve ID: 321844
    Date Established: November 15, 1950
    WWW: http://www.securitystatebank.net
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    OTS Docket #: 14527
    FDIC's unique #: 11029
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: November 15, 1950
    Last Structure Change Effective Date: November 06, 2004
    Last Structure Change Process Date: November 17, 2004
    Last Data Update: November 17, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 2100 Commerce, Red Oak, IA 51566
    County: Montgomery
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Omaha
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • Financial Summary
  • Total assets: $61.4 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, 2003)

  • Dollar figures in thousands
  • 28Total employees (full-time equivalent)
  • $60,006Total assets
  • $1,746Cash and due from depository institutions
  • $65Interest-bearing balances
  • $10,725Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $44,660Net loans & leases
  • $973Loan loss allowance
  • $0Trading account assets
  • $1,238Bank premises and fixed assets
  • $34Other real estate owned
  • $782Goodwill and other intangibles
  • $0Life insurance assets
  • $821All other assets
  • $60,006Total liabilities and capital
  • $54,955Total liabilities
  • $52,721Total deposits
  • $47,457Interest-bearing deposits
  • $52,721Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $880Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $1,250Other borrowed funds
  • $0Subordinated debt
  • $104All other liabilities
  • $5,051Total equity capital
  • $5,051Total bank equity capital
  • $5,051Perpetual preferred stock
  • $0Common stock
  • $100Surplus
  • $3,896Undivided profits
  • Memoranda
  • $1,055Noncurrent loans and leases
  • $7,071Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $810Earning assets
  • $0Long-term assets (5+ years)
  • $656Average Assets, year-to-date
  • $55,450Average Assets, quarterly
  • $15,805Volatile liabilities
  • $60,037Insider loans
  • $59,369FHLB advances
  • $4,720Loans and leases held for sale
  • $175Unused loan commitments
  • $1,250Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $7,071Total unused commitments
  • $0Restructured Loans and leases
  • $558Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $3,388Total interest income
  • $1,055Total interest expense
  • $2,333Net interest income
  • $415Provision for loan and lease losses
  • $349Total noninterest income
  • $0Fiduciary activities
  • $216Service charges on deposit accounts
  • $0Trading account gains & fees
  • $133Additional noninterest income
  • $1,704Total noninterest expense
  • $1,028Salaries and employee benefits
  • $186Premises and equipment expense
  • $490Additional noninterest expense
  • $563Pre-tax net operating income
  • $18Securities gains (losses)
  • $224Applicable income taxes
  • $357Income before extraordinary items
  • $0Extraordinary gains - net
  • $357Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$4Sale, conversion, retirement of capital stock, net
  • $300Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.16%Yield on earning assets
  • 1.92%Cost of funding earning assets
  • 4.24%Net interest margin
  • 0.63%Noninterest income to earning assets
  • 3.10%Noninterest expense to earning assets
  • 0.58%Net operating income to assets
  • 0.59%Return on assets (ROA)
  • 0.97%Pretax return on assets
  • 7.14%Return on equity (ROE)
  • 1.14%Retained earnings to average equity (YTD only)
  • -0.01%Net charge-offs to loans
  • -10375.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 63,535Assets per employee
  • 2.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 84.03%Loss allowance to loans
  • 2.13%Loss allowance to noncurrent loans
  • 120.12%Noncurrent assets plus other real estate owned to assets
  • 1.41%Noncurrent loans to loans
  • 1.78%Net loans and leases to deposits
  • 84.71%Net loans and leases to core deposits
  • 91.36%Equity capital to assets
  • 8.42%Core capital (leverage) ratio
  • 7.09%Tier 1 risk-based capital ratio
  • 9.56%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $60,037Average earning assets
  • $4,999Average equity
  • $55,024Average loans

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