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

This bank is inactive as of October 15, 2011

Security State Bank of Howard Lake - Overview

  • General
  • FDIC Certificate #: 10206
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Citizens Alliance Bank (#1402)
    Federal Reserve ID: 1012859
    Date Established: September 15, 1915
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    OTS Docket #: 15572
    FDIC's unique #: 6545
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: October 15, 2011
    Last Structure Change Process Date: November 23, 2011
    Last Data Update: November 23, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 900 Sixth Street, Howard Lake, MN 55349
    County: Wright
    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): Minneapolis-St. Paul, MN-WI (#5120)
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
    CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
  • Financial Summary
  • Total assets: $79.4 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, 2010)

  • Dollar figures in thousands
  • 16Total employees (full-time equivalent)
  • $77,345Total assets
  • $10,208Cash and due from depository institutions
  • $7,286Interest-bearing balances
  • $14,158Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $46,887Net loans & leases
  • $955Loan loss allowance
  • $0Trading account assets
  • $4,286Bank premises and fixed assets
  • $405Other real estate owned
  • $0Goodwill and other intangibles
  • $121Life insurance assets
  • $1,401All other assets
  • $77,345Total liabilities and capital
  • $69,730Total liabilities
  • $63,600Total deposits
  • $49,970Interest-bearing deposits
  • $63,600Deposits held in domestic offices
  • 89.04%% insured (estimated)
  • $937Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $5,106Other borrowed funds
  • $0Subordinated debt
  • $87All other liabilities
  • $7,615Total equity capital
  • $7,615Total bank equity capital
  • $7,615Perpetual preferred stock
  • $0Common stock
  • $50Surplus
  • $6,469Undivided profits
  • Memoranda
  • $1,096Noncurrent loans and leases
  • $7,193Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,727Earning assets
  • $0Long-term assets (5+ years)
  • $347Average Assets, year-to-date
  • $68,331Average Assets, quarterly
  • $12,573Volatile liabilities
  • $78,926Insider loans
  • $79,099FHLB advances
  • $12,066Loans and leases held for sale
  • $92Unused loan commitments
  • $5,106Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $7,193Total unused commitments
  • $0Restructured Loans and leases
  • $654Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $3,690Total interest income
  • $1,098Total interest expense
  • $2,592Net interest income
  • $54Provision for loan and lease losses
  • $740Total noninterest income
  • $0Fiduciary activities
  • $357Service charges on deposit accounts
  • $0Trading account gains & fees
  • $383Additional noninterest income
  • $2,065Total noninterest expense
  • $753Salaries and employee benefits
  • $517Premises and equipment expense
  • $795Additional noninterest expense
  • $1,213Pre-tax net operating income
  • $9Securities gains (losses)
  • $4Applicable income taxes
  • $1,218Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,218Net income attributable to bank
  • $0Net charge-offs
  • $1,218Cash dividends
  • $703Sale, conversion, retirement of capital stock, net
  • $668Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.20%Yield on earning assets
  • 1.55%Cost of funding earning assets
  • 3.65%Net interest margin
  • 1.04%Noninterest income to earning assets
  • 2.91%Noninterest expense to earning assets
  • 1.53%Net operating income to assets
  • 1.54%Return on assets (ROA)
  • 1.55%Pretax return on assets
  • 15.61%Return on equity (ROE)
  • 7.05%Retained earnings to average equity (YTD only)
  • 1.38%Net charge-offs to loans
  • 7.68%Credit loss provision to net charge-offs
  • 1.80%Efficiency ratio
  • 61,975Assets per employee
  • 4.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.84%Loss allowance to loans
  • 2.00%Loss allowance to noncurrent loans
  • 55.30%Noncurrent assets plus other real estate owned to assets
  • 2.76%Noncurrent loans to loans
  • 3.61%Net loans and leases to deposits
  • 73.72%Net loans and leases to core deposits
  • 88.02%Equity capital to assets
  • 9.85%Core capital (leverage) ratio
  • 9.16%Tier 1 risk-based capital ratio
  • 14.17%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $78,926Average earning assets
  • $7,804Average equity
  • $70,969Average loans

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