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

State Bank of Fairmont - Overview

  • General
  • FDIC Certificate #: 8541
    Status: Active
    Federal Reserve ID: 723158
    Bank Holding Company (Regulatory Top Holder): Web, Inc. (RSSDID: 1126112, Location: Fairmont, MN)
    Date Established: June 01, 1917
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 15645
    FDIC's unique #: 5449
    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 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 918 East Blue Earth Avenue, Fairmont, MN 56031
    County: Martin
    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
    Core Based Statistical Area (CBSA): Fairmont, MN (#21860)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $92.9 mil
    Equity capital: $10.6 mil
    Deposits held in domestic offices: $78.8 mil
    Return on assets (ROA): 1.50% ($1.4 mil)
    Quarterly return on assets: 0.29% ($0.3 mil)
    Return on Equity (ROE): 13.59% ($1.5 mil)
    Quarterly return on equity: 2.61% ($0.3 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 1.50% ($1,393.6 mil)
    Quarterly Pretax return on assets: 0.29% ($269.4 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)
  • $92,905Total assets
  • $3,437Cash and due from depository institutions
  • $3,424Interest-bearing balances
  • $23,240Securities
  • $1,666Federal funds sold & reverse repurchase agreements
  • $61,882Net loans & leases
  • $1,239Loan loss allowance
  • $0Trading account assets
  • $734Bank premises and fixed assets
  • $701Other real estate owned
  • $0Goodwill and other intangibles
  • $92,905Life insurance assets
  • $1,245All other assets
  • $82,354Total liabilities and capital
  • $78,817Total liabilities
  • $70,266Total deposits
  • $78,817Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 2400.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,000Trading liabilities
  • $0Other borrowed funds
  • $137Subordinated debt
  • $10,551All other liabilities
  • $10,551Total equity capital
  • $10,551Total bank equity capital
  • $0Perpetual preferred stock
  • $150Common stock
  • $4,850Surplus
  • $5,551Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,378Income earned, not collected on loans
  • $0Earning assets
  • $760Long-term assets (5+ years)
  • $90,212Average Assets, year-to-date
  • $20,382Average Assets, quarterly
  • $93,522Volatile liabilities
  • $93,987Insider loans
  • $70,684FHLB advances
  • $95,074Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,075Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $11,823Restructured Loans and leases
  • $142Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,833Total interest income
  • $1,067Total interest expense
  • $3,766Net interest income
  • $170Provision for loan and lease losses
  • $168Total noninterest income
  • $0Fiduciary activities
  • $194Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$26Additional noninterest income
  • $2,373Total noninterest expense
  • $1,569Salaries and employee benefits
  • $250Premises and equipment expense
  • $554Additional noninterest expense
  • $1,391Pre-tax net operating income
  • $10Securities gains (losses)
  • $1Applicable income taxes
  • $1,400Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,400Net income attributable to bank
  • $0Net charge-offs
  • $1,400Cash dividends
  • $183Sale, conversion, retirement of capital stock, net
  • $903Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.36%Yield on earning assets
  • 1.18%Cost of funding earning assets
  • 4.18%Net interest margin
  • 0.19%Noninterest income to earning assets
  • 2.63%Noninterest expense to earning assets
  • 1.49%Net operating income to assets
  • 1.50%Return on assets (ROA)
  • 1.50%Pretax return on assets
  • 13.59%Return on equity (ROE)
  • 4.83%Retained earnings to average equity (YTD only)
  • 0.28%Net charge-offs to loans
  • 92.90%Credit loss provision to net charge-offs
  • 8.53%Efficiency ratio
  • 60,320Assets per employee
  • 5.81%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 64.50%Loss allowance to loans
  • 1.96%Loss allowance to noncurrent loans
  • 89.91%Noncurrent assets plus other real estate owned to assets
  • 2.24%Noncurrent loans to loans
  • 2.18%Net loans and leases to deposits
  • 78.51%Net loans and leases to core deposits
  • 80.12%Equity capital to assets
  • 11.36%Core capital (leverage) ratio
  • 10.60%Tier 1 risk-based capital ratio
  • 14.25%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $93,522Average earning assets
  • $10,300Average equity
  • $90,112Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05449State Bank Of Fairmont918 East Blue Earth Avenue, Fairmont, MN 56031June 01, 1917Full Service Brick and Mortar

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