Success Bank in Bloomfield, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Success Bank - Overview

  • General
  • FDIC Certificate #: 10127
    Status: Active
    Federal Reserve ID: 179148
    Bank Holding Company (Regulatory Top Holder): Garrett Bancshares, Ltd. (RSSDID: 1205044, Location: Bloomfield, IA)
    Date Established: January 01, 1900
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 6480
    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: January 02, 2008
    Last Structure Change Process Date: Febuary 07, 2008
    Last Data Update: Febuary 07, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 109 North Madison Street, Bloomfield, IA 52537
    County: Davis
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $114.7 mil
    Equity capital: $13.5 mil
    Deposits held in domestic offices: $100.2 mil
    Return on assets (ROA): 1.70% ($2.0 mil)
    Quarterly return on assets: 1.60% ($1.8 mil)
    Return on Equity (ROE): 14.78% ($1.9 mil)
    Quarterly return on equity: 13.46% ($1.7 mil)
    Net income: $1.9 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.76% ($2,018.1 mil)
    Quarterly Pretax return on assets: 1.68% ($1,926.4 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
  • 32Total employees (full-time equivalent)
  • $114,665Total assets
  • $11,648Cash and due from depository institutions
  • $7,894Interest-bearing balances
  • $7,410Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $87,239Net loans & leases
  • $1,375Loan loss allowance
  • $0Trading account assets
  • $3,979Bank premises and fixed assets
  • $249Other real estate owned
  • $0Goodwill and other intangibles
  • $114,665Life insurance assets
  • $4,140All other assets
  • $101,194Total liabilities and capital
  • $100,160Total liabilities
  • $79,739Total deposits
  • $100,160Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,034Subordinated debt
  • $13,471All other liabilities
  • $13,471Total equity capital
  • $13,471Total bank equity capital
  • $0Perpetual preferred stock
  • $760Common stock
  • $2,240Surplus
  • $10,471Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $371Income earned, not collected on loans
  • $0Earning assets
  • $1,545Long-term assets (5+ years)
  • $102,543Average Assets, year-to-date
  • $28,417Average Assets, quarterly
  • $112,181Volatile liabilities
  • $112,062Insider loans
  • $94,680FHLB advances
  • $113,734Loans and leases held for sale
  • $2,018Unused loan commitments
  • $2,018Tier 1 (core) risk-based capital
  • $13,116Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,021Restructured Loans and leases
  • $23Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,067Total interest income
  • $1,231Total interest expense
  • $4,836Net interest income
  • $231Provision for loan and lease losses
  • $1,042Total noninterest income
  • $4Fiduciary activities
  • $279Service charges on deposit accounts
  • $0Trading account gains & fees
  • $759Additional noninterest income
  • $3,671Total noninterest expense
  • $2,119Salaries and employee benefits
  • $672Premises and equipment expense
  • $880Additional noninterest expense
  • $1,976Pre-tax net operating income
  • $0Securities gains (losses)
  • $69Applicable income taxes
  • $1,907Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,907Net income attributable to bank
  • $0Net charge-offs
  • $1,907Cash dividends
  • $138Sale, conversion, retirement of capital stock, net
  • $1,372Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.98%Yield on earning assets
  • 1.21%Cost of funding earning assets
  • 4.77%Net interest margin
  • 1.03%Noninterest income to earning assets
  • 3.62%Noninterest expense to earning assets
  • 1.70%Net operating income to assets
  • 1.70%Return on assets (ROA)
  • 1.76%Pretax return on assets
  • 14.78%Return on equity (ROE)
  • 4.15%Retained earnings to average equity (YTD only)
  • 0.16%Net charge-offs to loans
  • 167.39%Credit loss provision to net charge-offs
  • 15.99%Efficiency ratio
  • 62,453Assets per employee
  • 3.58%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 71.95%Loss allowance to loans
  • 1.55%Loss allowance to noncurrent loans
  • 370.62%Noncurrent assets plus other real estate owned to assets
  • 0.54%Noncurrent loans to loans
  • 0.42%Net loans and leases to deposits
  • 87.10%Net loans and leases to core deposits
  • 95.53%Equity capital to assets
  • 11.75%Core capital (leverage) ratio
  • 11.53%Tier 1 risk-based capital ratio
  • 13.85%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $112,181Average earning assets
  • $12,902Average equity
  • $101,421Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $4,352Managed Assets
  • 1Number of Accounts
  • $4,352Personal trust and agency accounts
  • $4,352Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 10Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06480Success Bank109 North Madison Street, Bloomfield, IA 52537January 01, 1900Full Service Brick and Mortar
    1221898Moulton Branch112 North Main Street, Moulton, IA 52572August 05, 1935Limited Service Facility
    2448807Davis County Savings Bank408 North Main Street, Milton, IA 52570Febuary 06, 2006Limited Service Facility

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