South Ottumwa Savings Bank in Ottumwa, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • South Ottumwa Savings Bank in Ottumwa, Iowa (IA)
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South Ottumwa Savings Bank - Overview

  • General
  • FDIC Certificate #: 9099
    Status: Active
    Federal Reserve ID: 75446
    Bank Holding Company (Regulatory Top Holder): Cornerstone Financial Services Group, Inc. (RSSDID: 1142372, Location: Ottumwa, IA)
    Date Established: January 01, 1903
    WWW: http://www.sosb-ia.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 14542
    FDIC's unique #: 5826
    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: January 01, 1934
    Last Structure Change Effective Date: December 17, 2011
    Last Structure Change Process Date: January 05, 2012
    Last Data Update: January 05, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 320 Church Street, Ottumwa, IA 52501
    County: Wapello
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Core Based Statistical Area (CBSA): Ottumwa, IA (#36900)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $319.5 mil
    Equity capital: $29.4 mil
    Deposits held in domestic offices: $251.3 mil
    Return on assets (ROA): 1.39% ($4.4 mil)
    Quarterly return on assets: 2.05% ($6.6 mil)
    Return on Equity (ROE): 13.96% ($4.0 mil)
    Quarterly return on equity: 20.02% ($5.8 mil)
    Net income: $3.6 mil
    Quarterly Net income: $1.4 mil
    Pretax return on assets: 1.47% ($4,697.3 mil)
    Quarterly Pretax return on assets: 2.18% ($6,966.0 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
  • 63Total employees (full-time equivalent)
  • $319,543Total assets
  • $11,890Cash and due from depository institutions
  • $5,454Interest-bearing balances
  • $146,489Securities
  • $5,696Federal funds sold & reverse repurchase agreements
  • $139,210Net loans & leases
  • $2,147Loan loss allowance
  • $0Trading account assets
  • $4,467Bank premises and fixed assets
  • $2,148Other real estate owned
  • $3,553Goodwill and other intangibles
  • $319,543Life insurance assets
  • $6,090All other assets
  • $290,168Total liabilities and capital
  • $251,290Total liabilities
  • $212,549Total deposits
  • $251,290Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 1523.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $36,058Trading liabilities
  • $0Other borrowed funds
  • $1,297Subordinated debt
  • $29,375All other liabilities
  • $29,375Total equity capital
  • $29,375Total bank equity capital
  • $0Perpetual preferred stock
  • $670Common stock
  • $2,330Surplus
  • $26,375Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,085Income earned, not collected on loans
  • $95Earning assets
  • $2,456Long-term assets (5+ years)
  • $296,849Average Assets, year-to-date
  • $159,776Average Assets, quarterly
  • $260,782Volatile liabilities
  • $282,344Insider loans
  • $172,329FHLB advances
  • $251,481Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $23,298Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,835Restructured Loans and leases
  • $1,104Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,872Total interest income
  • $2,884Total interest expense
  • $7,988Net interest income
  • $250Provision for loan and lease losses
  • $628Total noninterest income
  • $222Fiduciary activities
  • $312Service charges on deposit accounts
  • $0Trading account gains & fees
  • $94Additional noninterest income
  • $4,997Total noninterest expense
  • $2,644Salaries and employee benefits
  • $773Premises and equipment expense
  • $1,580Additional noninterest expense
  • $3,369Pre-tax net operating income
  • $457Securities gains (losses)
  • $191Applicable income taxes
  • $3,635Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,635Net income attributable to bank
  • $0Net charge-offs
  • $3,635Cash dividends
  • $300Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.45%Yield on earning assets
  • 1.18%Cost of funding earning assets
  • 3.27%Net interest margin
  • 0.26%Noninterest income to earning assets
  • 2.04%Noninterest expense to earning assets
  • 1.23%Net operating income to assets
  • 1.39%Return on assets (ROA)
  • 1.47%Pretax return on assets
  • 13.96%Return on equity (ROE)
  • 13.96%Retained earnings to average equity (YTD only)
  • 0.27%Net charge-offs to loans
  • 83.33%Credit loss provision to net charge-offs
  • 12.06%Efficiency ratio
  • 57,962Assets per employee
  • 5.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.52%Loss allowance to noncurrent loans
  • 102.97%Noncurrent assets plus other real estate owned to assets
  • 1.79%Noncurrent loans to loans
  • 1.47%Net loans and leases to deposits
  • 55.40%Net loans and leases to core deposits
  • 65.66%Equity capital to assets
  • 9.19%Core capital (leverage) ratio
  • 9.26%Tier 1 risk-based capital ratio
  • 13.52%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $260,782Average earning assets
  • $26,035Average equity
  • $244,443Average 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
  • $40,029Managed Assets
  • 1Number of Accounts
  • $36,315Personal trust and agency accounts
  • $36,053Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $262Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 92Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $3,714Other retirement accounts
  • $2,365Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 7 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05826South Ottumwa Savings Bank320 Church Street, Ottumwa, IA 52501January 01, 1903Full Service Brick and Mortar
    2219479Motor Facility501 North Weller Street, Ottumwa, IA 52501September 05, 1980Limited Service Facility
    4363343North Court Branch2525 North Court Street, Ottumwa, IA 52501April 01, 2002Full Service Brick and Mortar
    59380Ottumwa Branch216 S Market St, Ottumwa, IA 52501January 01, 1934Full Service Brick and Mortar
    6232640South Main Branch101 South Main, Hedrick, IA 52563March 10, 1997Full Service Brick and Mortar
    7361368S Market Branch216 S Market, Ottumwa, IA 52501July 05, 2000Full Service Brick and Mortar
    8479131Kellogg Branch202 High Street, Kellogg, IA 50135January 17, 2008Full Service Brick and Mortar

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