Security State Bank in Iron River, Wisconsin (WI)

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Security State Bank
GeneralFDIC Certificate #: 9036
Status: Active
Federal Reserve ID: 43052
Bank Holding Company (Regulatory Top Holder): Security Bank Shares, Inc. (RSSDID: 1128497, Location: Iron River, WI)
Date Established: June 06, 1911
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 12930
FDIC's unique #: 5776
Numeric code: 21
Regulator: FDIC
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: U S Hwy #2 7865, Iron River, WI 54847
County: Bayfield
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Eau Claire
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
History of ChangesChange in Location
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $83.6 mil
Equity capital: $12.3 mil
Deposits held in domestic offices: $63.6 mil
Return on assets (ROA): 0.97% ($0.8 mil)
Quarterly return on assets: 1.34% ($1.1 mil)
Return on Equity (ROE): 7.28% ($0.9 mil)
Quarterly return on equity: 9.60% ($1.2 mil)
Net income: $0.9 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.58% ($1,320.4 mil)
Quarterly Pretax return on assets: 2.00% ($1,671.4 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)
Total employees (full-time equivalent)18
Total assets$83,568
Cash and due from depository institutions$3,608
Interest-bearing balances$2,466
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$58,011
Loan loss allowance $2,363
Trading account assets$0
Bank premises and fixed assets$864
Other real estate owned$1,925
Goodwill and other intangibles$0
All other assets$5,396
Life insurance assets$83,568
Total liabilities and capital$71,296
Total liabilities$63,648
Total deposits$55,119
Interest-bearing deposits$63,648
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$7,214
Other borrowed funds $0
Subordinated debt $434
All other liabilities $12,272
Total equity capital$12,272
Total bank equity capital$12,272
Perpetual preferred stock$0
Common stock$50
Undivided profits $10,212
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 $7,360
Earning assets $738
Long-term assets (5+ years) $597
Average Assets, year-to-date $74,241
Average Assets, quarterly $11,286
Volatile liabilities $89,177
Insider loans $86,891
FHLB advances $70,174
Loans and leases held for sale $86,238
Unused loan commitments $2,912
Tier 1 (core) risk-based capital $2,912
Tier 2 risk-based capital $12,131
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $3,219
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,475
Total interest expense $886
Net interest income $3,589
Provision for loan and lease losses $0
Total noninterest income $787
Fiduciary activities $0
Service charges on deposit accounts $210
Trading account gains & fees $0
Additional noninterest income $577
Total noninterest expense $2,968
Salaries and employee benefits $1,509
Premises and equipment expense $190
Additional noninterest expense $1,269
Pre-tax net operating income $1,408
Securities gains (losses) $0
Applicable income taxes $547
Income before extraordinary items $861
Extraordinary gains - net $0
Net income attributable to bank $861
Net charge-offs $0
Cash dividends $861
Sale, conversion, retirement of capital stock, net $65
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.57%
Cost of funding earning assets 1.10%
Net interest margin 4.47%
Noninterest income to earning assets 0.98%
Noninterest expense to earning assets 3.70%
Net operating income to assets 0.97%
Return on assets (ROA) 0.97%
Pretax return on assets 1.58%
Return on equity (ROE) 7.28%
Retained earnings to average equity (YTD only) 7.28%
Net charge-offs to loans 0.10%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio21.66%
Assets per employee$67,824
Cash dividends to net income (YTD only)4.64%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.91%
Noncurrent assets plus other real estate owned to assets 32.11%
Noncurrent loans to loans 11.11%
Net loans and leases to deposits12.19%
Net loans and leases to core deposits 91.14%
Equity capital to assets 106.16%
Core capital (leverage) ratio 14.69%
Tier 1 risk-based capital ratio 14.07%
Total risk-based capital ratio 17.29%
Average assets$19
Average earning assets$89,177
Average equity $11,829
Average loans $80,270
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3 Wisconsin Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05776Security State BankU S Hwy #2 7865, Iron River, WI 54847June 06, 1911Full Service Brick and Mortar
1219321Port Wing Branch83325 Washington Ave, Port Wing, WI 54865March 22, 1934Full Service Brick and Mortar
2219322Brule Branch13967 E U.S. Highway 2, Brule, WI 54820December 18, 1972Full Service Brick and Mortar
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