Star Bank in Bertha, Minnesota (MN)



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Table of contents:
Star Bank
GeneralFDIC Certificate #: 5095
Status: Active
Federal Reserve ID: 715050
Date Established: August 15, 1904
WWW: http://www.starbank.net
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 9 (Domestic: 9, Interstate: No)
OTS Docket #: 17985
FDIC's unique #: 3404
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 201 2nd Avenue Nw, Bertha, MN 56437
County: Todd
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Fargo
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $149.3 mil
Equity capital: $16.4 mil
Deposits held in domestic offices: $127.6 mil
Return on assets (ROA): 0.99% ($1.5 mil)
Quarterly return on assets: 0.85% ($1.3 mil)
Return on Equity (ROE): 10.46% ($1.7 mil)
Quarterly return on equity: 7.57% ($1.2 mil)
Net income: $1.4 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.00% ($1,492.6 mil)
Quarterly Pretax return on assets: 0.84% ($1,253.7 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)55
Total assets$149,255
Cash and due from depository institutions$24,379
Interest-bearing balances$12,907
Securities$5,405
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$106,874
Loan loss allowance $1,145
Trading account assets$0
Bank premises and fixed assets$6,719
Other real estate owned$250
Goodwill and other intangibles$772
All other assets$4,856
Life insurance assets$149,255
Total liabilities and capital$132,810
Total liabilities$127,613
Total deposits$103,340
Interest-bearing deposits$127,613
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,000
Other borrowed funds $0
Subordinated debt $197
All other liabilities $16,445
Total equity capital$16,445
Total bank equity capital$16,445
Perpetual preferred stock$0
Common stock$200
Surplus$7,940
Undivided profits $8,305
Memoranda
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 $1,082
Earning assets $0
Long-term assets (5+ years) $1,250
Average Assets, year-to-date $125,186
Average Assets, quarterly $4,690
Volatile liabilities $141,351
Insider loans $146,763
FHLB advances $111,279
Loans and leases held for sale $145,383
Unused loan commitments $1,991
Tier 1 (core) risk-based capital $1,991
Tier 2 risk-based capital $15,611
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $19,199
Derivatives$381
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,155
Total interest expense $1,344
Net interest income $5,811
Provision for loan and lease losses $85
Total noninterest income $841
Fiduciary activities $0
Service charges on deposit accounts $497
Trading account gains & fees $0
Additional noninterest income $344
Total noninterest expense $5,160
Salaries and employee benefits $3,131
Premises and equipment expense $866
Additional noninterest expense $1,163
Pre-tax net operating income $1,407
Securities gains (losses) $0
Applicable income taxes $8
Income before extraordinary items $1,399
Extraordinary gains - net $0
Net income attributable to bank $1,399
Net charge-offs $0
Cash dividends $1,399
Sale, conversion, retirement of capital stock, net $0
Net operating income $850
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.19%
Cost of funding earning assets 1.16%
Net interest margin 5.03%
Noninterest income to earning assets 0.73%
Noninterest expense to earning assets 4.46%
Net operating income to assets 0.99%
Return on assets (ROA) 0.99%
Pretax return on assets 1.00%
Return on equity (ROE) 10.46%
Retained earnings to average equity (YTD only) 4.10%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$77,571
Cash dividends to net income (YTD only)2.71%
Condition Ratios (%)
Loss allowance to loans 60.76%
Loss allowance to noncurrent loans 1.06%
Noncurrent assets plus other real estate owned to assets 105.82%
Noncurrent loans to loans 0.89%
Net loans and leases to deposits1.00%
Net loans and leases to core deposits 83.75%
Equity capital to assets 87.66%
Core capital (leverage) ratio 11.02%
Tier 1 risk-based capital ratio 10.74%
Total risk-based capital ratio 14.03%
Memoranda
Average assets$15
Average earning assets$141,351
Average equity $13,374
Average loans $115,618
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9 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03404Star Bank201 2nd Avenue Nw, Bertha, MN 56437August 15, 1904Full Service Brick and Mortar
13536Verndale Branch101 South Farwell, Verndale, MN 56481January 01, 1882Full Service Brick and Mortar
59904Graceville Branch228 Studdart Avenue, Graceville, MN 56240January 01, 1904Full Service Brick and Mortar
6275257Elbow Lake Branch21 Central Ave N, Elbow Lake, MN 56531June 30, 1989Full Service Brick and Mortar
7272548Wheaton Branch1019 Broadway, Wheaton, MN 56296January 01, 1930Full Service Brick and Mortar
89459Eagle Bend Branch135 Main Street West, Eagle Bend, MN 56446May 02, 1902Full Service Brick and Mortar
9464427Annandale Branch460 Elm Street E, Annandale, MN 55302Febuary 15, 2005Full Service Brick and Mortar
10464428Barrett Branch400 2nd Street, Barrett, MN 56311October 01, 2004Full Service Brick and Mortar
11521812Eden Prairie Branch250 Prairie Center Drive, Eden Prairie, MN 55344July 19, 2010Full Service Brick and Mortar
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