State Bank of Richmond in Richmond, Minnesota (MN)



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State Bank of Richmond routing number info

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State Bank of Richmond
GeneralFDIC Certificate #: 8542
Status: Active
Federal Reserve ID: 881656
Bank Holding Company (Regulatory Top Holder): Richmond Bank Holding Co. (RSSDID: 1136045, Location: Richmond, MN)
Date Established: June 04, 1904
WWW: http://www.statebankofrichmond.com
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 #: 12145
FDIC's unique #: 5450
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: All Other Specialization < 1 Billion
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
LocationAddress: 22 Central Avenue, Richmond, MN 56368
County: Stearns
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Minneapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): St. Cloud, MN (#6980)
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): St. Cloud, MN (#41060)
CBSA Metro Statistical Area: St. Cloud, MN (#41060)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $86.3 mil
Equity capital: $12.3 mil
Deposits held in domestic offices: $73.6 mil
Return on assets (ROA): 0.99% ($0.9 mil)
Quarterly return on assets: 1.57% ($1.4 mil)
Return on Equity (ROE): 7.34% ($0.9 mil)
Quarterly return on equity: 11.20% ($1.3 mil)
Net income: $0.9 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.29% ($1,113.7 mil)
Quarterly Pretax return on assets: 1.21% ($1,044.7 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)14
Total assets$86,335
Cash and due from depository institutions$11,005
Interest-bearing balances$9,170
Securities$40,005
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$33,920
Loan loss allowance $817
Trading account assets$0
Bank premises and fixed assets$71
Other real estate owned$241
Goodwill and other intangibles$0
All other assets$1,093
Life insurance assets$86,335
Total liabilities and capital$74,068
Total liabilities$73,639
Total deposits$64,106
Interest-bearing deposits$73,639
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $429
All other liabilities $12,267
Total equity capital$12,267
Total bank equity capital$12,267
Perpetual preferred stock$0
Common stock$50
Surplus$3,350
Undivided profits $8,867
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
Earning assets $0
Long-term assets (5+ years) $396
Average Assets, year-to-date $83,095
Average Assets, quarterly $17,206
Volatile liabilities $86,200
Insider loans $86,357
FHLB advances $45,936
Loans and leases held for sale $86,306
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $11,583
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,393
Derivatives$636
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,293
Total interest expense $596
Net interest income $2,697
Provision for loan and lease losses $95
Total noninterest income $313
Fiduciary activities $0
Service charges on deposit accounts $134
Trading account gains & fees $0
Additional noninterest income $179
Total noninterest expense $1,820
Salaries and employee benefits $1,094
Premises and equipment expense $188
Additional noninterest expense $538
Pre-tax net operating income $1,095
Securities gains (losses) $19
Applicable income taxes $263
Income before extraordinary items $851
Extraordinary gains - net $0
Net income attributable to bank $851
Net charge-offs $0
Cash dividends $851
Sale, conversion, retirement of capital stock, net $42
Net operating income $225
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.96%
Cost of funding earning assets 0.72%
Net interest margin 3.24%
Noninterest income to earning assets 0.38%
Noninterest expense to earning assets 2.19%
Net operating income to assets 0.97%
Return on assets (ROA) 0.99%
Pretax return on assets 1.29%
Return on equity (ROE) 7.34%
Retained earnings to average equity (YTD only) 5.40%
Net charge-offs to loans 0.12%
Credit loss provision to net charge-offs 226.19%
Efficiency ratio28.33%
Assets per employee$60,465
Cash dividends to net income (YTD only)6.17%
Condition Ratios (%)
Loss allowance to loans 26.44%
Loss allowance to noncurrent loans 2.35%
Noncurrent assets plus other real estate owned to assets 81700.00%
Noncurrent loans to loans 0.28%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 46.06%
Equity capital to assets 46.70%
Core capital (leverage) ratio 14.21%
Tier 1 risk-based capital ratio 13.42%
Total risk-based capital ratio 25.22%
Memoranda
Average assets$26
Average earning assets$86,200
Average equity $11,597
Average loans $83,229
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05450State Bank Of Richmond22 Central Avenue, Richmond, MN 56368June 04, 1904Full Service Brick and Mortar
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