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


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

  • 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)

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
  • 14Total employees (full-time equivalent)
  • $72,142Total assets
  • $7,069Cash and due from depository institutions
  • $4,186Interest-bearing balances
  • $13,939Securities
  • $1,525Federal funds sold & reverse repurchase agreements
  • $47,300Net loans & leases
  • $880Loan loss allowance
  • $0Trading account assets
  • $325Bank premises and fixed assets
  • $492Other real estate owned
  • $0Goodwill and other intangibles
  • $72,142Life insurance assets
  • $1,492All other assets
  • $64,952Total liabilities and capital
  • $54,427Total liabilities
  • $43,053Total deposits
  • $54,427Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,441Trading liabilities
  • $0Other borrowed funds
  • $84Subordinated debt
  • $7,190All other liabilities
  • $7,190Total equity capital
  • $7,190Total bank equity capital
  • $0Perpetual preferred stock
  • $120Common stock
  • $4,130Surplus
  • $2,940Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $351Income earned, not collected on loans
  • $0Earning assets
  • $570Long-term assets (5+ years)
  • $66,950Average Assets, year-to-date
  • $23,017Average Assets, quarterly
  • $69,233Volatile liabilities
  • $71,067Insider loans
  • $54,295FHLB advances
  • $72,473Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $6,747Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,331Restructured Loans and leases
  • $823Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,648Total interest income
  • $1,055Total interest expense
  • $2,593Net interest income
  • $102Provision for loan and lease losses
  • $169Total noninterest income
  • $0Fiduciary activities
  • $115Service charges on deposit accounts
  • $0Trading account gains & fees
  • $54Additional noninterest income
  • $1,633Total noninterest expense
  • $1,075Salaries and employee benefits
  • $185Premises and equipment expense
  • $373Additional noninterest expense
  • $1,027Pre-tax net operating income
  • $0Securities gains (losses)
  • $1Applicable income taxes
  • $1,026Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,026Net income attributable to bank
  • $0Net charge-offs
  • $1,026Cash dividends
  • $65Sale, conversion, retirement of capital stock, net
  • $700Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.54%Yield on earning assets
  • 1.60%Cost of funding earning assets
  • 3.94%Net interest margin
  • 0.26%Noninterest income to earning assets
  • 2.48%Noninterest expense to earning assets
  • 1.48%Net operating income to assets
  • 1.48%Return on assets (ROA)
  • 1.48%Pretax return on assets
  • 15.00%Return on equity (ROE)
  • 4.77%Retained earnings to average equity (YTD only)
  • 0.13%Net charge-offs to loans
  • 156.92%Credit loss provision to net charge-offs
  • 17.37%Efficiency ratio
  • 59,124Assets per employee
  • 5.15%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 68.23%Loss allowance to loans
  • 1.83%Loss allowance to noncurrent loans
  • 250.71%Noncurrent assets plus other real estate owned to assets
  • 1.17%Noncurrent loans to loans
  • 0.73%Net loans and leases to deposits
  • 86.91%Net loans and leases to core deposits
  • 88.98%Equity capital to assets
  • 9.97%Core capital (leverage) ratio
  • 9.31%Tier 1 risk-based capital ratio
  • 12.43%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $69,233Average earning assets
  • $6,839Average equity
  • $65,831Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012288Security State Bank Of Wanamingo232 Main Street, Wanamingo, MN 55983December 05, 1917Full Service Brick and Mortar

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