Security Trust & Savings Bank in Storm Lake, Iowa (IA)

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Security Trust & Savings Bank
GeneralFDIC Certificate #: 968
Status: Active
Federal Reserve ID: 363648
Bank Holding Company (Regulatory Top Holder): Storm Lake Security Bancorporation (RSSDID: 2382344, Location: Storm Lake, IA)
Date Established: January 01, 1908
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 635
Numeric code: 13
Regulator: FED
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: No
Asset Concentration Hierarchy: Agricultural 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
LocationAddress: 601 Lake Street, Storm Lake, IA 50588
County: Buena Vista
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Storm Lake, IA (#44740)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $154.8 mil
Equity capital: $18.7 mil
Deposits held in domestic offices: $133.5 mil
Return on assets (ROA): 1.12% ($1.7 mil)
Quarterly return on assets: 0.62% ($1.0 mil)
Return on Equity (ROE): 9.70% ($1.8 mil)
Quarterly return on equity: 5.19% ($1.0 mil)
Net income: $1.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.31% ($2,027.8 mil)
Quarterly Pretax return on assets: 0.56% ($866.9 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)
Total employees (full-time equivalent)19
Total assets$154,795
Cash and due from depository institutions$3,957
Interest-bearing balances$1,719
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$52,925
Loan loss allowance $480
Trading account assets$0
Bank premises and fixed assets$1,292
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$1,974
Life insurance assets$154,795
Total liabilities and capital$136,134
Total liabilities$133,546
Total deposits$126,132
Interest-bearing deposits$133,546
Deposits held in domestic offices$79
% insured (estimated)300.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$750
Other borrowed funds $0
Subordinated debt $1,538
All other liabilities $18,661
Total equity capital$18,661
Total bank equity capital$18,661
Perpetual preferred stock$0
Common stock$150
Undivided profits $16,661
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 $401
Earning assets $0
Long-term assets (5+ years) $1,312
Average Assets, year-to-date $149,291
Average Assets, quarterly $83,165
Volatile liabilities $150,299
Insider loans $156,596
FHLB advances $64,568
Loans and leases held for sale $156,879
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $16,486
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,412
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,216
Total interest expense $1,557
Net interest income $4,659
Provision for loan and lease losses $350
Total noninterest income $205
Fiduciary activities $10
Service charges on deposit accounts $146
Trading account gains & fees $0
Additional noninterest income $49
Total noninterest expense $2,660
Salaries and employee benefits $1,536
Premises and equipment expense $511
Additional noninterest expense $613
Pre-tax net operating income $1,854
Securities gains (losses) $108
Applicable income taxes $276
Income before extraordinary items $1,686
Extraordinary gains - net $0
Net income attributable to bank $1,686
Net charge-offs $0
Cash dividends $1,686
Sale, conversion, retirement of capital stock, net $408
Net operating income $450
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.31%
Cost of funding earning assets 1.08%
Net interest margin 3.23%
Noninterest income to earning assets 0.14%
Noninterest expense to earning assets 1.85%
Net operating income to assets 1.06%
Return on assets (ROA) 1.12%
Pretax return on assets 1.31%
Return on equity (ROE) 9.70%
Retained earnings to average equity (YTD only) 7.11%
Net charge-offs to loans 0.77%
Credit loss provision to net charge-offs 85.78%
Efficiency ratio5.40%
Assets per employee$54,688
Cash dividends to net income (YTD only)8.15%
Condition Ratios (%)
Loss allowance to loans 26.69%
Loss allowance to noncurrent loans 0.90%
Noncurrent assets plus other real estate owned to assets 119.70%
Noncurrent loans to loans 0.26%
Net loans and leases to deposits0.75%
Net loans and leases to core deposits 39.63%
Equity capital to assets 43.99%
Core capital (leverage) ratio 12.06%
Tier 1 risk-based capital ratio 10.51%
Total risk-based capital ratio 25.53%
Average assets$26
Average earning assets$150,299
Average equity $17,381
Average loans $144,126
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$19,297
Number of Accounts1
Personal trust and agency accounts$17,526
Employee benefit-defined contribution accounts$14,525
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$3,001
Number of Accounts100
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$1,771
Corporate trust and agency accounts$471
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,300
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2 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0635Security Trust & Savings Bank601 Lake Street, Storm Lake, IA 50588January 01, 1908Full Service Brick and Mortar
1186756Auto Branch300 West 5th Street, Storm Lake, IA 50588March 13, 1961Limited Service Facility
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