Security State Bank of Fergus Falls in Fergus Falls, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Security State Bank of Fergus Falls - Overview

  • General
  • FDIC Certificate #: 17733
    Status: Active
    Federal Reserve ID: 942258
    Bank Holding Company (Regulatory Top Holder): Fergus Falls Bancshares, Inc. (RSSDID: 1125414, Location: Fergus Falls, MN)
    Date Established: April 01, 1957
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 10312
    FDIC's unique #: 11690
    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: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: April 01, 1957
    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: 128 Washington Avenue, East, Fergus Falls, MN 56537
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $144.5 mil
    Equity capital: $12.3 mil
    Deposits held in domestic offices: $115.8 mil
    Return on assets (ROA): 0.82% ($1.2 mil)
    Quarterly return on assets: 0.98% ($1.4 mil)
    Return on Equity (ROE): 9.96% ($1.2 mil)
    Quarterly return on equity: 11.46% ($1.4 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 0.82% ($1,184.8 mil)
    Quarterly Pretax return on assets: 0.98% ($1,416.0 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
  • 25Total employees (full-time equivalent)
  • $144,492Total assets
  • $15,651Cash and due from depository institutions
  • $12,259Interest-bearing balances
  • $29,766Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $95,199Net loans & leases
  • $1,003Loan loss allowance
  • $0Trading account assets
  • $929Bank premises and fixed assets
  • $545Other real estate owned
  • $0Goodwill and other intangibles
  • $144,492Life insurance assets
  • $2,402All other assets
  • $132,170Total liabilities and capital
  • $115,778Total liabilities
  • $97,547Total deposits
  • $115,778Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $16,128Trading liabilities
  • $0Other borrowed funds
  • $264Subordinated debt
  • $12,322All other liabilities
  • $12,322Total equity capital
  • $12,322Total bank equity capital
  • $0Perpetual preferred stock
  • $216Common stock
  • $8,284Surplus
  • $3,822Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $899Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,351Income earned, not collected on loans
  • $0Earning assets
  • $1,079Long-term assets (5+ years)
  • $137,224Average Assets, year-to-date
  • $43,862Average Assets, quarterly
  • $142,633Volatile liabilities
  • $143,967Insider loans
  • $107,541FHLB advances
  • $142,717Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,562Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $34,161Restructured Loans and leases
  • $163Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,885Total interest income
  • $1,581Total interest expense
  • $4,304Net interest income
  • $932Provision for loan and lease losses
  • $298Total noninterest income
  • $0Fiduciary activities
  • $114Service charges on deposit accounts
  • $0Trading account gains & fees
  • $184Additional noninterest income
  • $2,494Total noninterest expense
  • $1,592Salaries and employee benefits
  • $193Premises and equipment expense
  • $709Additional noninterest expense
  • $1,176Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • $1,174Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,174Net income attributable to bank
  • $0Net charge-offs
  • $1,174Cash dividends
  • $420Sale, conversion, retirement of capital stock, net
  • $260Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.31%Yield on earning assets
  • 1.16%Cost of funding earning assets
  • 3.15%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 1.83%Noninterest expense to earning assets
  • 0.82%Net operating income to assets
  • 0.82%Return on assets (ROA)
  • 0.82%Pretax return on assets
  • 9.96%Return on equity (ROE)
  • 7.76%Retained earnings to average equity (YTD only)
  • 0.45%Net charge-offs to loans
  • 221.90%Credit loss provision to net charge-offs
  • 5.02%Efficiency ratio
  • 54,194Assets per employee
  • 5.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 22.15%Loss allowance to loans
  • 1.04%Loss allowance to noncurrent loans
  • 74.24%Noncurrent assets plus other real estate owned to assets
  • 1.31%Noncurrent loans to loans
  • 1.40%Net loans and leases to deposits
  • 82.23%Net loans and leases to core deposits
  • 100.76%Equity capital to assets
  • 8.53%Core capital (leverage) ratio
  • 8.80%Tier 1 risk-based capital ratio
  • 11.68%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $142,633Average earning assets
  • $11,782Average equity
  • $136,590Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011690Security State Bank Of Fergus Falls128 Washington Avenue, East, Fergus Falls, MN 56537April 01, 1957Full Service Brick and Mortar

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