Summit Community Bank in Maplewood, Minnesota (MN)

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Summit Community Bank
GeneralFDIC Certificate #: 58552
Status: Active
Federal Reserve ID: 3557895
Bank Holding Company (Regulatory Top Holder): Hayward Bancshares, Inc. (RSSDID: 1863659, Location: Eau Claire, WI)
Date Established: May 07, 2007
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 456195
Numeric code: 13
Regulator: FED
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: May 07, 2007
Last Structure Change Effective Date: May 07, 2007
Last Structure Change Process Date: May 08, 2007
Last Data Update: May 08, 2007
Data Source Date: April 05, 2012
LocationAddress: 1275 East County Road D, Maplewood, MN 55109
County: Ramsey
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Chicago
FDIC Field Office: Minneapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120)
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
History of ChangesChange in Geographic Region/Area/Territory/Field Office
New Institution
Financial SummaryTotal assets: $61.9 mil
Equity capital: $9.7 mil
Deposits held in domestic offices: $49.1 mil
Return on assets (ROA): 1.22% ($0.8 mil)
Quarterly return on assets: 1.81% ($1.1 mil)
Return on Equity (ROE): 8.90% ($0.9 mil)
Quarterly return on equity: 11.90% ($1.2 mil)
Net income: $0.8 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.22% ($755.7 mil)
Quarterly Pretax return on assets: 1.81% ($1,121.1 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)8
Total assets$61,940
Cash and due from depository institutions$9,874
Interest-bearing balances$9,056
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$41,449
Loan loss allowance $741
Trading account assets$0
Bank premises and fixed assets$133
Other real estate owned$540
Goodwill and other intangibles$0
All other assets$3,414
Life insurance assets$61,940
Total liabilities and capital$52,261
Total liabilities$49,121
Total deposits$41,059
Interest-bearing deposits$49,121
Deposits held in domestic offices$86
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,000
Other borrowed funds $0
Subordinated debt $140
All other liabilities $9,679
Total equity capital$9,679
Total bank equity capital$9,679
Perpetual preferred stock$0
Common stock$500
Undivided profits $2,179
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 $890
Earning assets $0
Long-term assets (5+ years) $216
Average Assets, year-to-date $57,035
Average Assets, quarterly $9,578
Volatile liabilities $65,559
Insider loans $62,383
FHLB advances $43,469
Loans and leases held for sale $62,564
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $9,194
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $6,418
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,089
Total interest expense $602
Net interest income $2,487
Provision for loan and lease losses $250
Total noninterest income $39
Fiduciary activities $0
Service charges on deposit accounts $55
Trading account gains & fees $0
Additional noninterest income -$16
Total noninterest expense $1,478
Salaries and employee benefits $692
Premises and equipment expense $156
Additional noninterest expense $630
Pre-tax net operating income $798
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $798
Extraordinary gains - net $0
Net income attributable to bank $798
Net charge-offs $0
Cash dividends $798
Sale, conversion, retirement of capital stock, net $333
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 assets5.13%
Cost of funding earning assets 1.00%
Net interest margin 4.13%
Noninterest income to earning assets 0.06%
Noninterest expense to earning assets 2.46%
Net operating income to assets 1.22%
Return on assets (ROA) 1.22%
Pretax return on assets 1.22%
Return on equity (ROE) 8.90%
Retained earnings to average equity (YTD only) 8.90%
Net charge-offs to loans 0.78%
Credit loss provision to net charge-offs 75.08%
Efficiency ratio3.15%
Assets per employee$58,511
Cash dividends to net income (YTD only)7.74%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.76%
Noncurrent assets plus other real estate owned to assets 83.26%
Noncurrent loans to loans 2.31%
Net loans and leases to deposits2.11%
Net loans and leases to core deposits 84.38%
Equity capital to assets 92.48%
Core capital (leverage) ratio 15.63%
Tier 1 risk-based capital ratio 14.70%
Total risk-based capital ratio 21.15%
Average assets$22
Average earning assets$65,559
Average equity $8,961
Average loans $60,198
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0456195Summit Community Bank1275 East County Road D, Maplewood, MN 55109May 07, 2007Full Service Brick and Mortar
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