State Bank of Lucan in Lucan, Minnesota (MN)
| State Bank of Lucan | |
|---|---|
| General | FDIC Certificate #: 15890 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution: First Independent Bank (#1900) Federal Reserve ID: 92854 Date Established: May 05, 1936 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 10126 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: April 29, 1942 Last Structure Change Effective Date: December 31, 2011 Last Structure Change Process Date: January 11, 2012 Last Data Update: January 11, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 106 Main Street, Lucan, MN 56255 County: Redwood 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: $41.1 mil |
| Assets and Liabilities (December 31, 2010) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 8 |
| Total assets | $37,641 |
| Cash and due from depository institutions | $4,061 |
| Interest-bearing balances | $2,717 |
| Securities | $10,305 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $21,617 |
| Loan loss allowance | $246 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $172 |
| Other real estate owned | $4 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,482 |
| Life insurance assets | $795 |
| Total liabilities and capital | $37,641 |
| Total liabilities | $33,543 |
| Total deposits | $33,022 |
| Interest-bearing deposits | $26,195 |
| Deposits held in domestic offices | $33,022 |
| % insured (estimated) | 98.96% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $521 |
| Total equity capital | $4,098 |
| Total bank equity capital | $4,098 |
| Perpetual preferred stock | $4,098 |
| Common stock | $0 |
| Surplus | $25 |
| Undivided profits | $2,675 |
| Memoranda | |
| Noncurrent loans and leases | $1,398 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $764 |
| Income earned, not collected on loans | $0 |
| Earning assets | $52 |
| Long-term assets (5+ years) | $15 |
| Average Assets, year-to-date | $485 |
| Average Assets, quarterly | $34,639 |
| Volatile liabilities | $8,212 |
| Insider loans | $37,118 |
| FHLB advances | $37,796 |
| Loans and leases held for sale | $4,583 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $0 |
| Total risk weighted assets | $0 |
| Total unused commitments | $764 |
| Restructured Loans and leases | $77 |
| Derivatives | $246 |
| Income and Expense (December 31, 2010) (Dollar figures in thousands) | |
| Total interest income | $1,662 |
| Total interest expense | $485 |
| Net interest income | $1,177 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $123 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $94 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $29 |
| Total noninterest expense | $999 |
| Salaries and employee benefits | $618 |
| Premises and equipment expense | $69 |
| Additional noninterest expense | $312 |
| Pre-tax net operating income | $301 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $301 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $301 |
| Net charge-offs | $0 |
| Cash dividends | $301 |
| Sale, conversion, retirement of capital stock, net | $33 |
| Net operating income | $191 |
| Performance and Condition Ratios (December 31, 2010) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.98% |
| Cost of funding earning assets | 1.45% |
| Net interest margin | 3.53% |
| Noninterest income to earning assets | 0.37% |
| Noninterest expense to earning assets | 3.00% |
| Net operating income to assets | 0.81% |
| Return on assets (ROA) | 0.81% |
| Pretax return on assets | 0.81% |
| Return on equity (ROE) | 7.32% |
| Retained earnings to average equity (YTD only) | 2.67% |
| Net charge-offs to loans | 0.16% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 9.12% |
| Assets per employee | $76,846 |
| Cash dividends to net income (YTD only) | 4.71% |
| Condition Ratios (%) | |
| Loss allowance to loans | 63.46% |
| Loss allowance to noncurrent loans | 1.13% |
| Noncurrent assets plus other real estate owned to assets | 473.08% |
| Noncurrent loans to loans | 0.15% |
| Net loans and leases to deposits | 0.24% |
| Net loans and leases to core deposits | 65.46% |
| Equity capital to assets | 76.01% |
| Core capital (leverage) ratio | 10.89% |
| Tier 1 risk-based capital ratio | 10.47% |
| Total risk-based capital ratio | 15.78% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $37,118 |
| Average equity | $4,113 |
| Average loans | $33,350 |
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