FDIC Certificate #: 16679 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Wadena State Bank (#13430) Federal Reserve ID: 120654 Date Established: March 15, 1948 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 10807 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: March 15, 1948 Last Structure Change Effective Date: November 16, 2002 Last Structure Change Process Date: January 02, 2003 Last Data Update: January 02, 2003 Data Source Date: April 05, 2012
Location
Address: Main Street, Deer Creek, MN 56527 County: Otter Tail Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Fergus Falls, MN (#22260) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $14.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
7Total employees (full-time equivalent)
$16,161Total assets
$2,489Cash and due from depository institutions
$1,753Interest-bearing balances
$8,909Securities
$750Federal funds sold & reverse repurchase agreements
$3,717Net loans & leases
$68Loan loss allowance
$0Trading account assets
$67Bank premises and fixed assets
$48Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$181All other assets
$16,161Total liabilities and capital
$13,637Total liabilities
$13,560Total deposits
$11,914Interest-bearing deposits
$13,560Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$77All other liabilities
$2,524Total equity capital
$2,524Total bank equity capital
$2,524Perpetual preferred stock
$0Common stock
$175Surplus
$825Undivided profits
Memoranda
$1,524Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$230Earning assets
$0Long-term assets (5+ years)
$153Average Assets, year-to-date
$15,129Average Assets, quarterly
$2,052Volatile liabilities
$16,435Insider loans
$16,421FHLB advances
$661Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$68Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$1,106Total interest income
$513Total interest expense
$593Net interest income
$20Provision for loan and lease losses
$39Total noninterest income
$0Fiduciary activities
$25Service charges on deposit accounts
$0Trading account gains & fees
$14Additional noninterest income
$354Total noninterest expense
$210Salaries and employee benefits
$49Premises and equipment expense
$95Additional noninterest expense
$258Pre-tax net operating income
$0Securities gains (losses)
$104Applicable income taxes
$154Income before extraordinary items
$0Extraordinary gains - net
$154Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$22Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.11%Yield on earning assets
3.30%Cost of funding earning assets
3.81%Net interest margin
0.25%Noninterest income to earning assets
2.27%Noninterest expense to earning assets
0.94%Net operating income to assets
0.94%Return on assets (ROA)
1.57%Pretax return on assets
6.29%Return on equity (ROE)
6.29%Retained earnings to average equity (YTD only)
0.50%Net charge-offs to loans
90.91%Credit loss provision to net charge-offs
12.64%Efficiency ratio
56,013Assets per employee
2.31%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.80%Loss allowance to noncurrent loans
29.57%Noncurrent assets plus other real estate owned to assets
1.72%Noncurrent loans to loans
6.08%Net loans and leases to deposits
27.41%Net loans and leases to core deposits
28.82%Equity capital to assets
15.62%Core capital (leverage) ratio
14.99%Tier 1 risk-based capital ratio
28.44%Total risk-based capital ratio
Memoranda
$29Average assets
$16,435Average earning assets
$2,447Average equity
$15,564Average loans
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