State Bank of Bird Island in Bird Island, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 17, 2012

  • State Bank of Bird Island in Bird Island, Minnesota (MN)
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State Bank of Bird Island - Overview

  • General
  • FDIC Certificate #: 8184
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Frandsen Bank & Trust (#1399)
    Federal Reserve ID: 395256
    Bank Holding Company (Regulatory Top Holder): Frandsen Financial Corporation (RSSDID: 1128358, Location: Arden Hills, MN)
    Date Established: January 01, 1908
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 5210
    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: March 17, 2012
    Last Structure Change Process Date: March 26, 2012
    Last Data Update: March 26, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 205 South Main Street, Bird Island, MN 55310
    County: Renville
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • Financial Summary
  • Total assets: $44.8 mil
    Equity capital: $3.9 mil
    Deposits held in domestic offices: $38.8 mil
    Return on assets (ROA): 0.70% ($0.3 mil)
    Quarterly return on assets: 0.50% ($0.2 mil)
    Return on Equity (ROE): 7.16% ($0.3 mil)
    Quarterly return on equity: 5.34% ($0.2 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.82% ($367.4 mil)
    Quarterly Pretax return on assets: 0.50% ($224.0 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
  • 9Total employees (full-time equivalent)
  • $44,806Total assets
  • $6,218Cash and due from depository institutions
  • $2,300Interest-bearing balances
  • $21,126Securities
  • $612Federal funds sold & reverse repurchase agreements
  • $14,790Net loans & leases
  • $61Loan loss allowance
  • $0Trading account assets
  • $978Bank premises and fixed assets
  • $0Other real estate owned
  • $738Goodwill and other intangibles
  • $44,806Life insurance assets
  • $344All other assets
  • $40,879Total liabilities and capital
  • $38,803Total liabilities
  • $23,623Total deposits
  • $38,803Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 1000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,000Trading liabilities
  • $0Other borrowed funds
  • $76Subordinated debt
  • $3,927All other liabilities
  • $3,927Total equity capital
  • $3,927Total bank equity capital
  • $0Perpetual preferred stock
  • $180Common stock
  • $3,346Surplus
  • $401Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $22Income earned, not collected on loans
  • $0Earning assets
  • $243Long-term assets (5+ years)
  • $38,828Average Assets, year-to-date
  • $16,884Average Assets, quarterly
  • $40,511Volatile liabilities
  • $41,993Insider loans
  • $21,723FHLB advances
  • $39,023Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $3,139Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,494Restructured Loans and leases
  • $24Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,303Total interest income
  • $64Total interest expense
  • $1,239Net interest income
  • $60Provision for loan and lease losses
  • $115Total noninterest income
  • $0Fiduciary activities
  • $73Service charges on deposit accounts
  • $0Trading account gains & fees
  • $42Additional noninterest income
  • $999Total noninterest expense
  • $531Salaries and employee benefits
  • $99Premises and equipment expense
  • $369Additional noninterest expense
  • $295Pre-tax net operating income
  • $37Securities gains (losses)
  • $47Applicable income taxes
  • $285Income before extraordinary items
  • $0Extraordinary gains - net
  • $285Net income attributable to bank
  • $0Net charge-offs
  • $285Cash dividends
  • $3Sale, conversion, retirement of capital stock, net
  • $713Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.57%Yield on earning assets
  • 0.18%Cost of funding earning assets
  • 3.40%Net interest margin
  • 0.32%Noninterest income to earning assets
  • 2.74%Noninterest expense to earning assets
  • 0.62%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 0.82%Pretax return on assets
  • 7.16%Return on equity (ROE)
  • -10.76%Retained earnings to average equity (YTD only)
  • 0.02%Net charge-offs to loans
  • 2000.00%Credit loss provision to net charge-offs
  • 118.33%Efficiency ratio
  • 70,089Assets per employee
  • 4.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 250.18%Loss allowance to loans
  • 0.41%Loss allowance to noncurrent loans
  • 277.27%Noncurrent assets plus other real estate owned to assets
  • 0.05%Noncurrent loans to loans
  • 0.15%Net loans and leases to deposits
  • 38.12%Net loans and leases to core deposits
  • 38.12%Equity capital to assets
  • 8.76%Core capital (leverage) ratio
  • 8.04%Tier 1 risk-based capital ratio
  • 14.45%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $40,511Average earning assets
  • $3,979Average equity
  • $36,485Average loans

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