State Central Bank in Keokuk, Iowa (IA)



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State Central Bank
GeneralFDIC Certificate #: 5820
Status: Active
Federal Reserve ID: 808345
Bank Holding Company (Regulatory Top Holder): Logan Investment Corporation (RSSDID: 3300215, Location: Keokuk, IA)
Date Established: March 17, 1858
WWW: http://www.statecentralbank.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 9373
FDIC's unique #: 3978
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: Yes
Asset Concentration Hierarchy: Commercial Lending 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
LocationAddress: 601 Main Street, Keokuk, IA 52632
County: Lee
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Cedar Rapids
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Fort Madison-Keokuk, IA-MO (#22800)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $181.7 mil
Equity capital: $8.6 mil
Deposits held in domestic offices: $171.0 mil
Return on assets (ROA): -0.81% (-$1.5 mil)
Quarterly return on assets: 0.28% ($0.5 mil)
Return on Equity (ROE): -19.90% (-$1.8 mil)
Quarterly return on equity: 6.41% ($0.6 mil)
Net income: -$1.8 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: -1.09% (-$1,980.1 mil)
Quarterly Pretax return on assets: 0.28% ($508.7 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)59
Total assets$181,664
Cash and due from depository institutions$34,638
Interest-bearing balances$30,209
Securities$20,560
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$111,869
Loan loss allowance $6,365
Trading account assets$0
Bank premises and fixed assets$4,129
Other real estate owned$5,600
Goodwill and other intangibles$1,185
All other assets$3,683
Life insurance assets$181,664
Total liabilities and capital$173,050
Total liabilities$171,042
Total deposits$146,853
Interest-bearing deposits$171,042
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $2,008
All other liabilities $8,614
Total equity capital$8,614
Total bank equity capital$8,614
Perpetual preferred stock$0
Common stock$3,370
Surplus$10,708
Undivided profits $-5,464
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 $16,280
Earning assets $258
Long-term assets (5+ years) $563
Average Assets, year-to-date $162,638
Average Assets, quarterly $8,581
Volatile liabilities $217,629
Insider loans $196,482
FHLB advances $125,849
Loans and leases held for sale $200,313
Unused loan commitments $1,355
Tier 1 (core) risk-based capital $1,355
Tier 2 risk-based capital $6,626
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $12,171
Derivatives$3,448
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,370
Total interest expense $2,526
Net interest income $5,844
Provision for loan and lease losses $3,950
Total noninterest income $3,352
Fiduciary activities $225
Service charges on deposit accounts $568
Trading account gains & fees $0
Additional noninterest income $2,559
Total noninterest expense $7,843
Salaries and employee benefits $3,530
Premises and equipment expense $1,057
Additional noninterest expense $3,256
Pre-tax net operating income -$2,597
Securities gains (losses) $235
Applicable income taxes -$603
Income before extraordinary items -$1,759
Extraordinary gains - net $0
Net income attributable to bank -$1,759
Net charge-offs $0
Cash dividends -$1,759
Sale, conversion, retirement of capital stock, net $6,086
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.23%
Cost of funding earning assets 1.28%
Net interest margin 2.95%
Noninterest income to earning assets 1.69%
Noninterest expense to earning assets 3.96%
Net operating income to assets -0.89%
Return on assets (ROA) -0.81%
Pretax return on assets -1.09%
Return on equity (ROE) -19.90%
Retained earnings to average equity (YTD only) -19.90%
Net charge-offs to loans 4.03%
Credit loss provision to net charge-offs 64.90%
Efficiency ratio0.22%
Assets per employee$85,200
Cash dividends to net income (YTD only)3.08%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.38%
Noncurrent assets plus other real estate owned to assets 39.10%
Noncurrent loans to loans 12.04%
Net loans and leases to deposits13.77%
Net loans and leases to core deposits 65.40%
Equity capital to assets 74.03%
Core capital (leverage) ratio 4.74%
Tier 1 risk-based capital ratio 3.31%
Total risk-based capital ratio 5.27%
Memoranda
Average assets$7
Average earning assets$217,629
Average equity $8,838
Average loans $197,821
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$37,753
Number of Accounts1
Personal trust and agency accounts$34,264
Employee benefit-defined contribution accounts$21,717
Employee benefit-defined benefit accounts$8,081
Other retirement accounts$0
Corporate trust and agency accounts$4,466
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts88
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$4,466
Employee benefit-defined benefit accounts$0
Other retirement accounts$3,489
Corporate trust and agency accounts$1,409
Other fiduciary accounts$1,591
Fiduciary accounts held in foreign offices$489
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Bank Assets Sold and Securitized (December 31, 2011)
(Dollar figures in thousands)
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8 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03978State Central Bank601 Main Street, Keokuk, IA 52632March 17, 1858Full Service Brick and Mortar
1208208Bonaparte Branch612 First Street, Bonaparte, IA 52620December 31, 1948Full Service Brick and Mortar
2208209Farmington Branch101 S. Second, Farmington, IA 52626December 31, 1948Full Service Brick and Mortar
4208211Keosippi Shopping Plaza Branch200 Main Street, Keokuk, IA 52632March 02, 1970Limited Service Facility
53974Stockport Branch116 S. Main Street, Stockport, IA 52651April 02, 1928Full Service Brick and Mortar
6208212Boulevard Road Branch201 Boulevard Road, Keokuk, IA 52632July 24, 1980Limited Service Facility
9208213Keokuk Branch2122 Main Street, Keokuk, IA 52632September 30, 1998Limited Service Facility
10364043Dubuque Branch1805 John F. Kennedy Road, Dubuque, IA 52002November 01, 2001Full Service Brick and Mortar
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