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

This bank is inactive as of April 30, 1994

  • Security State Bank of Hammond in Hammond, Minnesota (MN)
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Security State Bank of Hammond - Overview

  • General
  • FDIC Certificate #: 10981
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Minnwest Bank Metro (#17898)
    Federal Reserve ID: 978453
    Date Established: January 01, 1924
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 7034
    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: January 01, 1934
    Last Structure Change Effective Date: April 30, 1994
    Last Structure Change Process Date: May 23, 1994
    Last Data Update: June 06, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: Main Street, Hammond, MN 55938
    County: Wabasha
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Minneapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Rochester, MN (#40340)
    CBSA Metro Statistical Area: Rochester, MN (#40340)
  • History of Changes
  • Merger - Without Assistance
  • Financial Summary
  • Total assets: $12.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $5Total assets
  • $12,829Cash and due from depository institutions
  • $921Interest-bearing balances
  • $0Securities
  • $7,746Federal funds sold & reverse repurchase agreements
  • $1,900Net loans & leases
  • $1,812Loan loss allowance
  • $134Trading account assets
  • $0Bank premises and fixed assets
  • $54Other real estate owned
  • $0Goodwill and other intangibles
  • $396Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $12,829Total liabilities
  • $10,708Total deposits
  • $10,534Interest-bearing deposits
  • $10,012Deposits held in domestic offices
  • 10534.00%% insured (estimated)
  • $99Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $174Total equity capital
  • $174Total bank equity capital
  • $2,121Perpetual preferred stock
  • $0Common stock
  • $30Surplus
  • $370Undivided profits
  • Memoranda
  • $1,721Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $81Income earned, not collected on loans
  • $23Earning assets
  • $11,458Long-term assets (5+ years)
  • $3,689Average Assets, year-to-date
  • $12,771Average Assets, quarterly
  • $12,654Volatile liabilities
  • $500Insider loans
  • $38FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,121Total risk weighted assets
  • $3,411Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $742Total interest expense
  • $490Net interest income
  • $252Provision for loan and lease losses
  • $0Total noninterest income
  • $52Fiduciary activities
  • $0Service charges on deposit accounts
  • $51Trading account gains & fees
  • $0Additional noninterest income
  • $1Total noninterest expense
  • $346Salaries and employee benefits
  • $155Premises and equipment expense
  • $16Additional noninterest expense
  • $175Pre-tax net operating income
  • -$42Securities gains (losses)
  • $100Applicable income taxes
  • $20Income before extraordinary items
  • $38Extraordinary gains - net
  • $0Net income attributable to bank
  • $38Net charge-offs
  • -$35Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 6.52%Cost of funding earning assets
  • 4.30%Net interest margin
  • 2.21%Noninterest income to earning assets
  • 0.46%Noninterest expense to earning assets
  • 3.04%Net operating income to assets
  • -0.22%Return on assets (ROA)
  • 0.30%Pretax return on assets
  • 0.45%Return on equity (ROE)
  • 1.80%Retained earnings to average equity (YTD only)
  • 1.80%Net charge-offs to loans
  • -1.63%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 113,816Assets per employee
  • 2.57%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 6.89%Loss allowance to noncurrent loans
  • 165.43%Noncurrent assets plus other real estate owned to assets
  • 0.63%Noncurrent loans to loans
  • 4.16%Net loans and leases to deposits
  • 17.20%Net loans and leases to core deposits
  • 18.06%Equity capital to assets
  • 16.53%Core capital (leverage) ratio
  • 16.49%Tier 1 risk-based capital ratio
  • 62.18%Total risk-based capital ratio
  • Memoranda
  • $63Average assets
  • $12,771Average earning assets
  • $2,107Average equity
  • $11,385Average loans

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