Security State Bank of Wanamingo in Wanamingo, Minnesota (MN)
| Security State Bank of Wanamingo | |
|---|---|
| General | FDIC Certificate #: 18378 Status: Active Federal Reserve ID: 211851 Bank Holding Company (Regulatory Top Holder): Wanamingo Bancshares, Inc. (RSSDID: 1135271, Location: Wanamingo, MN) Date Established: December 05, 1917 WWW: http://www.ssbwanamingo.com 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 #: 14737 FDIC's unique #: 12288 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 27, 1961 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: 232 Main Street, Wanamingo, MN 55983 County: Goodhue 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 Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Red Wing, MN (#39860) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $72.1 mil Equity capital: $7.2 mil Deposits held in domestic offices: $54.4 mil Return on assets (ROA): 1.48% ($1.1 mil) Quarterly return on assets: 1.32% ($1.0 mil) Return on Equity (ROE): 15.00% ($1.1 mil) Quarterly return on equity: 13.14% ($0.9 mil) Net income: $1.0 mil Quarterly Net income: $0.2 mil Pretax return on assets: 1.48% ($1,067.7 mil) Quarterly Pretax return on assets: 1.32% ($952.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 14 |
| Total assets | $72,142 |
| Cash and due from depository institutions | $7,069 |
| Interest-bearing balances | $4,186 |
| Securities | $13,939 |
| Federal funds sold & reverse repurchase agreements | $1,525 |
| Net loans & leases | $47,300 |
| Loan loss allowance | $880 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $325 |
| Other real estate owned | $492 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,492 |
| Life insurance assets | $72,142 |
| Total liabilities and capital | $64,952 |
| Total liabilities | $54,427 |
| Total deposits | $43,053 |
| Interest-bearing deposits | $54,427 |
| Deposits held in domestic offices | $99 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $10,441 |
| Other borrowed funds | $0 |
| Subordinated debt | $84 |
| All other liabilities | $7,190 |
| Total equity capital | $7,190 |
| Total bank equity capital | $7,190 |
| Perpetual preferred stock | $0 |
| Common stock | $120 |
| Surplus | $4,130 |
| Undivided profits | $2,940 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $351 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $570 |
| Average Assets, year-to-date | $66,950 |
| Average Assets, quarterly | $23,017 |
| Volatile liabilities | $69,233 |
| Insider loans | $71,067 |
| FHLB advances | $54,295 |
| Loans and leases held for sale | $72,473 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $6,747 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $7,331 |
| Derivatives | $823 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $3,648 |
| Total interest expense | $1,055 |
| Net interest income | $2,593 |
| Provision for loan and lease losses | $102 |
| Total noninterest income | $169 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $115 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $54 |
| Total noninterest expense | $1,633 |
| Salaries and employee benefits | $1,075 |
| Premises and equipment expense | $185 |
| Additional noninterest expense | $373 |
| Pre-tax net operating income | $1,027 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $1 |
| Income before extraordinary items | $1,026 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,026 |
| Net charge-offs | $0 |
| Cash dividends | $1,026 |
| Sale, conversion, retirement of capital stock, net | $65 |
| Net operating income | $700 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.54% |
| Cost of funding earning assets | 1.60% |
| Net interest margin | 3.94% |
| Noninterest income to earning assets | 0.26% |
| Noninterest expense to earning assets | 2.48% |
| Net operating income to assets | 1.48% |
| Return on assets (ROA) | 1.48% |
| Pretax return on assets | 1.48% |
| Return on equity (ROE) | 15.00% |
| Retained earnings to average equity (YTD only) | 4.77% |
| Net charge-offs to loans | 0.13% |
| Credit loss provision to net charge-offs | 156.92% |
| Efficiency ratio | 17.37% |
| Assets per employee | $59,124 |
| Cash dividends to net income (YTD only) | 5.15% |
| Condition Ratios (%) | |
| Loss allowance to loans | 68.23% |
| Loss allowance to noncurrent loans | 1.83% |
| Noncurrent assets plus other real estate owned to assets | 250.71% |
| Noncurrent loans to loans | 1.17% |
| Net loans and leases to deposits | 0.73% |
| Net loans and leases to core deposits | 86.91% |
| Equity capital to assets | 88.98% |
| Core capital (leverage) ratio | 9.97% |
| Tier 1 risk-based capital ratio | 9.31% |
| Total risk-based capital ratio | 12.43% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $69,233 |
| Average equity | $6,839 |
| Average loans | $65,831 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 12288 | Security State Bank Of Wanamingo | 232 Main Street, Wanamingo, MN 55983 | December 05, 1917 | Full Service Brick and Mortar |  |
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