Solon State Bank in Solon, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Solon State Bank - Overview

  • General
  • FDIC Certificate #: 232
    Status: Active
    Federal Reserve ID: 185448
    Bank Holding Company (Regulatory Top Holder): Solon Financial, Inc. (RSSDID: 1137903, Location: Solon, IA)
    Date Established: March 17, 1932
    WWW: http://www.solonstatebank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 12569
    FDIC's unique #: 185
    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
  • Location
  • Address: 126 South Market Street, Solon, IA 52333
    County: Johnson
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Iowa City, IA (#3500)
    Core Based Statistical Area (CBSA): Iowa City, IA (#26980)
    CBSA Metro Statistical Area: Iowa City, IA (#26980)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $83.6 mil
    Equity capital: $17.1 mil
    Deposits held in domestic offices: $62.4 mil
    Return on assets (ROA): 2.90% ($2.4 mil)
    Quarterly return on assets: 2.95% ($2.5 mil)
    Return on Equity (ROE): 14.65% ($2.5 mil)
    Quarterly return on equity: 14.55% ($2.5 mil)
    Net income: $2.4 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 2.99% ($2,498.5 mil)
    Quarterly Pretax return on assets: 2.89% ($2,414.9 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
  • 16Total employees (full-time equivalent)
  • $83,562Total assets
  • $1,892Cash and due from depository institutions
  • $0Interest-bearing balances
  • $17,794Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $60,735Net loans & leases
  • $1,389Loan loss allowance
  • $0Trading account assets
  • $1,046Bank premises and fixed assets
  • $926Other real estate owned
  • $146Goodwill and other intangibles
  • $83,562Life insurance assets
  • $1,023All other assets
  • $66,471Total liabilities and capital
  • $62,424Total liabilities
  • $49,943Total deposits
  • $62,424Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 827.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,069Trading liabilities
  • $0Other borrowed funds
  • $151Subordinated debt
  • $17,091All other liabilities
  • $17,091Total equity capital
  • $17,091Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $2,100Surplus
  • $14,891Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $165Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,486Income earned, not collected on loans
  • $0Earning assets
  • $538Long-term assets (5+ years)
  • $78,529Average Assets, year-to-date
  • $15,836Average Assets, quarterly
  • $83,528Volatile liabilities
  • $83,533Insider loans
  • $71,436FHLB advances
  • $84,383Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $16,941Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,552Restructured Loans and leases
  • $288Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,919Total interest income
  • $627Total interest expense
  • $4,292Net interest income
  • $300Provision for loan and lease losses
  • $419Total noninterest income
  • $1Fiduciary activities
  • $338Service charges on deposit accounts
  • $0Trading account gains & fees
  • $80Additional noninterest income
  • $2,068Total noninterest expense
  • $1,292Salaries and employee benefits
  • $179Premises and equipment expense
  • $597Additional noninterest expense
  • $2,343Pre-tax net operating income
  • $156Securities gains (losses)
  • $77Applicable income taxes
  • $2,422Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,422Net income attributable to bank
  • $0Net charge-offs
  • $2,422Cash dividends
  • $302Sale, conversion, retirement of capital stock, net
  • $1,216Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.30%Yield on earning assets
  • 0.80%Cost of funding earning assets
  • 5.50%Net interest margin
  • 0.54%Noninterest income to earning assets
  • 2.65%Noninterest expense to earning assets
  • 2.72%Net operating income to assets
  • 2.90%Return on assets (ROA)
  • 2.99%Pretax return on assets
  • 14.65%Return on equity (ROE)
  • 7.29%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 99.34%Credit loss provision to net charge-offs
  • 8.75%Efficiency ratio
  • 42,666Assets per employee
  • 5.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 50.21%Loss allowance to loans
  • 2.24%Loss allowance to noncurrent loans
  • 39.85%Noncurrent assets plus other real estate owned to assets
  • 5.28%Noncurrent loans to loans
  • 5.61%Net loans and leases to deposits
  • 97.29%Net loans and leases to core deposits
  • 97.85%Equity capital to assets
  • 20.45%Core capital (leverage) ratio
  • 20.08%Tier 1 risk-based capital ratio
  • 23.71%Total risk-based capital ratio
  • Memoranda
  • $25Average assets
  • $83,528Average earning assets
  • $16,538Average equity
  • $78,081Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $2,709Managed Assets
  • 1Number of Accounts
  • $702Personal trust and agency accounts
  • $702Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 11Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $2,007Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $2,007Fiduciary accounts held in foreign offices

List of branches

  • 3 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0185Solon State Bank126 South Market Street, Solon, IA 52333March 17, 1932Full Service Brick and Mortar
    1181383Tiffin Branch444 East State Street, Tiffin, IA 52340March 11, 1997Full Service Brick and Mortar
    3232457Ely Branch1540 State Street, Ely, IA 52227May 02, 1936Full Service Brick and Mortar

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