Sherburne State Bank in Becker, Minnesota (MN)

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Sherburne State Bank
GeneralFDIC Certificate #: 10169
Status: Active
Federal Reserve ID: 198251
Bank Holding Company (Regulatory Top Holder): Saint Joseph Bancshares Acquisitions, Inc. (RSSDID: 3348011, Location: Saint Joseph, MN)
Date Established: September 07, 1920
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 6510
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: Yes
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
LocationAddress: 12500 Sherburne Avenue, Becker, MN 55308
County: Sherburne
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)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $69.3 mil
Equity capital: $7.4 mil
Deposits held in domestic offices: $61.7 mil
Return on assets (ROA): 1.16% ($0.8 mil)
Quarterly return on assets: 2.70% ($1.9 mil)
Return on Equity (ROE): 13.25% ($0.9 mil)
Quarterly return on equity: 26.82% ($1.9 mil)
Net income: $0.8 mil
Quarterly Net income: $0.5 mil
Pretax return on assets: 1.16% ($803.7 mil)
Quarterly Pretax return on assets: 2.70% ($1,870.6 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)27
Total assets$69,283
Cash and due from depository institutions$6,777
Interest-bearing balances$5,009
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$42,179
Loan loss allowance $177
Trading account assets$0
Bank premises and fixed assets$5,962
Other real estate owned$3,155
Goodwill and other intangibles$326
All other assets$757
Life insurance assets$69,283
Total liabilities and capital$61,845
Total liabilities$61,669
Total deposits$43,507
Interest-bearing deposits$61,669
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $176
All other liabilities $7,438
Total equity capital$7,438
Total bank equity capital$7,438
Perpetual preferred stock$0
Common stock$75
Undivided profits $847
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $81
Income earned, not collected on loans $1,909
Earning assets $0
Long-term assets (5+ years) $215
Average Assets, year-to-date $57,315
Average Assets, quarterly $4,428
Volatile liabilities $72,507
Insider loans $71,685
FHLB advances $52,032
Loans and leases held for sale $74,069
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $7,104
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $3,686
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,489
Total interest expense $89
Net interest income $2,400
Provision for loan and lease losses $282
Total noninterest income $274
Fiduciary activities $0
Service charges on deposit accounts $114
Trading account gains & fees $0
Additional noninterest income $160
Total noninterest expense $1,553
Salaries and employee benefits $751
Premises and equipment expense $337
Additional noninterest expense $465
Pre-tax net operating income $839
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $839
Extraordinary gains - net $0
Net income attributable to bank $839
Net charge-offs $0
Cash dividends $839
Sale, conversion, retirement of capital stock, net $105
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.08%
Cost of funding earning assets 0.15%
Net interest margin 3.93%
Noninterest income to earning assets 0.45%
Noninterest expense to earning assets 2.54%
Net operating income to assets 1.16%
Return on assets (ROA) 1.16%
Pretax return on assets 1.16%
Return on equity (ROE) 13.25%
Retained earnings to average equity (YTD only) 13.25%
Net charge-offs to loans 0.22%
Credit loss provision to net charge-offs 268.57%
Efficiency ratio10.68%
Assets per employee$58,078
Cash dividends to net income (YTD only)2.57%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.42%
Noncurrent assets plus other real estate owned to assets 9.27%
Noncurrent loans to loans 7.31%
Net loans and leases to deposits4.51%
Net loans and leases to core deposits 68.40%
Equity capital to assets 69.17%
Core capital (leverage) ratio 10.74%
Tier 1 risk-based capital ratio 9.59%
Total risk-based capital ratio 13.65%
Average assets$14
Average earning assets$72,507
Average equity $6,330
Average loans $61,044
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4 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06510Sherburne State Bank12500 Sherburne Avenue, Becker, MN 55308September 07, 1920Full Service Brick and Mortar
2221985Clear Lake Branch8590 Main Avenue, Clear Lake, MN 55319Febuary 17, 1981Full Service Brick and Mortar
3221986Princeton Branch136 N Rum River Dr., Princeton, MN 55371March 02, 2000Full Service Brick and Mortar
4471138Sherburne State Bank, St. Cloud Branch319 2nd Street South, Saint Cloud, MN 56301October 22, 2007Full Service Brick and Mortar
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