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

Security State Bank of Hibbing - Overview

  • General
  • FDIC Certificate #: 10175
    Status: Active
    Federal Reserve ID: 950356
    Bank Holding Company (Regulatory Top Holder): Security Financial Services, Inc. (RSSDID: 1128817, Location: Hibbing, MN)
    Date Established: Febuary 11, 1911
    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 #: 6516
    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
  • Location
  • Address: 701 East Howard Street, Hibbing, MN 55746
    County: St. Louis
    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
    Metropolitan Statistical Area (MSA): Duluth-Superior, MN-WI (#2240)
    Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
    CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $98.9 mil
    Equity capital: $9.5 mil
    Deposits held in domestic offices: $87.1 mil
    Return on assets (ROA): 0.61% ($0.6 mil)
    Quarterly return on assets: 0.82% ($0.8 mil)
    Return on Equity (ROE): 6.12% ($0.6 mil)
    Quarterly return on equity: 8.47% ($0.8 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.77% ($761.8 mil)
    Quarterly Pretax return on assets: 1.09% ($1,078.4 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
  • 22Total employees (full-time equivalent)
  • $98,938Total assets
  • $16,034Cash and due from depository institutions
  • $11,298Interest-bearing balances
  • $24,156Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $48,178Net loans & leases
  • $1,947Loan loss allowance
  • $0Trading account assets
  • $1,929Bank premises and fixed assets
  • $3,678Other real estate owned
  • $0Goodwill and other intangibles
  • $98,938Life insurance assets
  • $4,963All other assets
  • $89,399Total liabilities and capital
  • $87,059Total liabilities
  • $58,685Total deposits
  • $87,059Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $2,340Subordinated debt
  • $9,539All other liabilities
  • $9,539Total equity capital
  • $9,539Total bank equity capital
  • $0Perpetual preferred stock
  • $750Common stock
  • $7,758Surplus
  • $1,031Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,149Income earned, not collected on loans
  • $0Earning assets
  • $347Long-term assets (5+ years)
  • $83,632Average Assets, year-to-date
  • $22,440Average Assets, quarterly
  • $95,421Volatile liabilities
  • $100,251Insider loans
  • $62,303FHLB advances
  • $98,935Loans and leases held for sale
  • $2,284Unused loan commitments
  • $2,284Tier 1 (core) risk-based capital
  • $9,622Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,772Restructured Loans and leases
  • $1,974Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,799Total interest income
  • $506Total interest expense
  • $3,293Net interest income
  • $254Provision for loan and lease losses
  • $990Total noninterest income
  • $0Fiduciary activities
  • $200Service charges on deposit accounts
  • $0Trading account gains & fees
  • $790Additional noninterest income
  • $3,305Total noninterest expense
  • $1,409Salaries and employee benefits
  • $346Premises and equipment expense
  • $1,550Additional noninterest expense
  • $724Pre-tax net operating income
  • $8Securities gains (losses)
  • $147Applicable income taxes
  • $585Income before extraordinary items
  • $0Extraordinary gains - net
  • $585Net income attributable to bank
  • $0Net charge-offs
  • $585Cash dividends
  • $14Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.71%Yield on earning assets
  • 0.63%Cost of funding earning assets
  • 4.08%Net interest margin
  • 1.23%Noninterest income to earning assets
  • 4.09%Noninterest expense to earning assets
  • 0.61%Net operating income to assets
  • 0.61%Return on assets (ROA)
  • 0.77%Pretax return on assets
  • 6.12%Return on equity (ROE)
  • 6.12%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 1814.29%Credit loss provision to net charge-offs
  • 69.86%Efficiency ratio
  • 77,166Assets per employee
  • 4.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.88%Loss allowance to noncurrent loans
  • 90.60%Noncurrent assets plus other real estate owned to assets
  • 5.89%Noncurrent loans to loans
  • 4.29%Net loans and leases to deposits
  • 55.34%Net loans and leases to core deposits
  • 59.30%Equity capital to assets
  • 9.64%Core capital (leverage) ratio
  • 9.73%Tier 1 risk-based capital ratio
  • 15.44%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $95,421Average earning assets
  • $9,563Average equity
  • $80,715Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06516Security State Bank Of Hibbing701 East Howard Street, Hibbing, MN 55746Febuary 11, 1911Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Security State Bank of Hibbing.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents