The Bank of Elk River in Elk River, Minnesota (MN)



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The Bank of Elk River routing number info

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The Bank of Elk River
GeneralFDIC Certificate #: 1607
Status: Active
Federal Reserve ID: 10250
Bank Holding Company (Regulatory Top Holder): Metro North Bancshares, Inc. (RSSDID: 3027268, Location: Elk River, MN)
Date Established: January 01, 1885
WWW: http://www.thebankofelkriver.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 1050
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: 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: 630 Main Street, Elk River, MN 55330
County: Sherburne
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): 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $377.4 mil
Equity capital: $27.0 mil
Deposits held in domestic offices: $349.3 mil
Return on assets (ROA): -0.76% (-$2.9 mil)
Quarterly return on assets: -0.09% (-$0.3 mil)
Return on Equity (ROE): -10.70% (-$2.9 mil)
Quarterly return on equity: -1.21% (-$0.3 mil)
Net income: -$3.0 mil
Quarterly Net income: -$0.1 mil
Pretax return on assets: -1.38% (-$5,207.4 mil)
Quarterly Pretax return on assets: -0.25% (-$943.4 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)
Total employees (full-time equivalent)89
Total assets$377,351
Cash and due from depository institutions$29,875
Interest-bearing balances$22,696
Securities$46,860
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$261,607
Loan loss allowance $11,480
Trading account assets$0
Bank premises and fixed assets$11,120
Other real estate owned$15,224
Goodwill and other intangibles$0
All other assets$12,665
Life insurance assets$377,351
Total liabilities and capital$350,309
Total liabilities$349,267
Total deposits$294,093
Interest-bearing deposits$349,267
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 $1,042
All other liabilities $27,042
Total equity capital$27,042
Total bank equity capital$27,042
Perpetual preferred stock$0
Common stock$1,500
Surplus$28,200
Undivided profits $-2,658
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 $17,914
Earning assets $257
Long-term assets (5+ years) $1,253
Average Assets, year-to-date $331,163
Average Assets, quarterly $47,517
Volatile liabilities $393,614
Insider loans $383,302
FHLB advances $283,291
Loans and leases held for sale $371,281
Unused loan commitments $262
Tier 1 (core) risk-based capital $262
Tier 2 risk-based capital $17,068
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $32,407
Derivatives$287
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $18,383
Total interest expense $4,644
Net interest income $13,739
Provision for loan and lease losses $6,935
Total noninterest income $715
Fiduciary activities $0
Service charges on deposit accounts $1,702
Trading account gains & fees $0
Additional noninterest income -$987
Total noninterest expense $13,773
Salaries and employee benefits $6,154
Premises and equipment expense $1,994
Additional noninterest expense $5,625
Pre-tax net operating income -$6,254
Securities gains (losses) $805
Applicable income taxes -$2,470
Income before extraordinary items -$2,979
Extraordinary gains - net $0
Net income attributable to bank -$2,979
Net charge-offs $0
Cash dividends -$2,979
Sale, conversion, retirement of capital stock, net $5,868
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 assets5.35%
Cost of funding earning assets 1.35%
Net interest margin 4.00%
Noninterest income to earning assets 0.21%
Noninterest expense to earning assets 4.01%
Net operating income to assets -0.89%
Return on assets (ROA) -0.76%
Pretax return on assets -1.38%
Return on equity (ROE) -10.70%
Retained earnings to average equity (YTD only) -10.70%
Net charge-offs to loans 2.01%
Credit loss provision to net charge-offs 118.18%
Efficiency ratio0.12%
Assets per employee$95,289
Cash dividends to net income (YTD only)4.24%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.20%
Noncurrent assets plus other real estate owned to assets 64.08%
Noncurrent loans to loans 8.78%
Net loans and leases to deposits6.56%
Net loans and leases to core deposits 74.90%
Equity capital to assets 84.41%
Core capital (leverage) ratio 7.17%
Tier 1 risk-based capital ratio 4.60%
Total risk-based capital ratio 6.02%
Memoranda
Average assets$7
Average earning assets$393,614
Average equity $27,838
Average loans $343,359
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5 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01050The Bank Of Elk River630 Main Street, Elk River, MN 55330January 01, 1885Full Service Brick and Mortar
1189903School Street Office846 Freeport Avenue, Elk River, MN 55330October 14, 1986Full Service Brick and Mortar
2189904Otsego Office15800 88th Street Northeast, Otsego, MN 55330January 03, 1995Full Service Brick and Mortar
3360229Elk River Branch181825 Zane Street N.W., Elk River, MN 55330January 24, 2001Full Service Retail
5452954Zimmerman Office Branch26319 2nd St. E, Zimmerman, MN 55398December 01, 2005Full Service Brick and Mortar
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