Security State Bank in Tyndall, South Dakota (SD)



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Security State Bank
GeneralFDIC Certificate #: 485
Status: Active
Federal Reserve ID: 435255
Bank Holding Company (Regulatory Top Holder): Midwest Bancshares, Inc. (RSSDID: 4347301, Location: Tyndall, SD)
Date Established: November 01, 1932
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 352
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: 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: 1600 Main Street, Tyndall, SD 57066
County: Bon Homme
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux Falls
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: West
History of ChangesChange in Location
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $34.4 mil
Equity capital: $3.4 mil
Deposits held in domestic offices: $30.6 mil
Return on assets (ROA): 0.42% ($0.1 mil)
Quarterly return on assets: -0.42% (-$0.1 mil)
Return on Equity (ROE): 4.01% ($0.1 mil)
Quarterly return on equity: -4.21% (-$0.1 mil)
Net income: $0.1 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 0.73% ($251.4 mil)
Quarterly Pretax return on assets: 0.24% ($82.7 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)10
Total assets$34,440
Cash and due from depository institutions$8,953
Interest-bearing balances$8,325
Securities$2,618
Federal funds sold & reverse repurchase agreements$825
Net loans & leases$21,166
Loan loss allowance $707
Trading account assets$0
Bank premises and fixed assets$426
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$452
Life insurance assets$34,440
Total liabilities and capital$31,037
Total liabilities$30,627
Total deposits$21,122
Interest-bearing deposits$30,627
Deposits held in domestic offices$99
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $410
All other liabilities $3,403
Total equity capital$3,403
Total bank equity capital$3,403
Perpetual preferred stock$0
Common stock$200
Surplus$2,800
Undivided profits $403
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 $145
Earning assets $0
Long-term assets (5+ years) $391
Average Assets, year-to-date $32,934
Average Assets, quarterly $2,006
Volatile liabilities $33,242
Insider loans $34,422
FHLB advances $23,134
Loans and leases held for sale $35,036
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $3,403
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $8,137
Derivatives$114
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,458
Total interest expense $114
Net interest income $1,344
Provision for loan and lease losses $0
Total noninterest income $156
Fiduciary activities $0
Service charges on deposit accounts $124
Trading account gains & fees $0
Additional noninterest income $32
Total noninterest expense $1,258
Salaries and employee benefits $829
Premises and equipment expense $124
Additional noninterest expense $305
Pre-tax net operating income $242
Securities gains (losses) $0
Applicable income taxes $104
Income before extraordinary items $138
Extraordinary gains - net $0
Net income attributable to bank $138
Net charge-offs $0
Cash dividends $138
Sale, conversion, retirement of capital stock, net $75
Net operating income $200
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.61%
Cost of funding earning assets 0.36%
Net interest margin 4.25%
Noninterest income to earning assets 0.49%
Noninterest expense to earning assets 3.98%
Net operating income to assets 0.42%
Return on assets (ROA) 0.42%
Pretax return on assets 0.73%
Return on equity (ROE) 4.01%
Retained earnings to average equity (YTD only) -1.80%
Net charge-offs to loans 0.37%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio3.23%
Assets per employee$83,867
Cash dividends to net income (YTD only)3.44%
Condition Ratios (%)
Loss allowance to loans 144.93%
Loss allowance to noncurrent loans 3.23%
Noncurrent assets plus other real estate owned to assets 487.59%
Noncurrent loans to loans 0.42%
Net loans and leases to deposits0.66%
Net loans and leases to core deposits 69.11%
Equity capital to assets 69.11%
Core capital (leverage) ratio 9.88%
Tier 1 risk-based capital ratio 9.71%
Total risk-based capital ratio 14.71%
Memoranda
Average assets$16
Average earning assets$33,242
Average equity $3,440
Average loans $31,613
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1 South Dakota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0352Security State Bank1600 Main Street, Tyndall, SD 57066November 01, 1932Full Service Brick and Mortar
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