The Bank of Elk River in Elk River, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • The Bank of Elk River in Elk River, Minnesota (MN)
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The Bank of Elk River - Overview

  • General
  • FDIC 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
    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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 89Total employees (full-time equivalent)
  • $377,351Total assets
  • $29,875Cash and due from depository institutions
  • $22,696Interest-bearing balances
  • $46,860Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $261,607Net loans & leases
  • $11,480Loan loss allowance
  • $0Trading account assets
  • $11,120Bank premises and fixed assets
  • $15,224Other real estate owned
  • $0Goodwill and other intangibles
  • $377,351Life insurance assets
  • $12,665All other assets
  • $350,309Total liabilities and capital
  • $349,267Total liabilities
  • $294,093Total deposits
  • $349,267Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,042Subordinated debt
  • $27,042All other liabilities
  • $27,042Total equity capital
  • $27,042Total bank equity capital
  • $0Perpetual preferred stock
  • $1,500Common stock
  • $28,200Surplus
  • $-2,658Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $17,914Income earned, not collected on loans
  • $257Earning assets
  • $1,253Long-term assets (5+ years)
  • $331,163Average Assets, year-to-date
  • $47,517Average Assets, quarterly
  • $393,614Volatile liabilities
  • $383,302Insider loans
  • $283,291FHLB advances
  • $371,281Loans and leases held for sale
  • $262Unused loan commitments
  • $262Tier 1 (core) risk-based capital
  • $17,068Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $32,407Restructured Loans and leases
  • $287Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $18,383Total interest income
  • $4,644Total interest expense
  • $13,739Net interest income
  • $6,935Provision for loan and lease losses
  • $715Total noninterest income
  • $0Fiduciary activities
  • $1,702Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$987Additional noninterest income
  • $13,773Total noninterest expense
  • $6,154Salaries and employee benefits
  • $1,994Premises and equipment expense
  • $5,625Additional noninterest expense
  • -$6,254Pre-tax net operating income
  • $805Securities gains (losses)
  • -$2,470Applicable income taxes
  • -$2,979Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,979Net income attributable to bank
  • $0Net charge-offs
  • -$2,979Cash dividends
  • $5,868Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.35%Yield on earning assets
  • 1.35%Cost of funding earning assets
  • 4.00%Net interest margin
  • 0.21%Noninterest income to earning assets
  • 4.01%Noninterest expense to earning assets
  • -0.89%Net operating income to assets
  • -0.76%Return on assets (ROA)
  • -1.38%Pretax return on assets
  • -10.70%Return on equity (ROE)
  • -10.70%Retained earnings to average equity (YTD only)
  • 2.01%Net charge-offs to loans
  • 118.18%Credit loss provision to net charge-offs
  • 0.12%Efficiency ratio
  • 95,289Assets per employee
  • 4.24%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.20%Loss allowance to noncurrent loans
  • 64.08%Noncurrent assets plus other real estate owned to assets
  • 8.78%Noncurrent loans to loans
  • 6.56%Net loans and leases to deposits
  • 74.90%Net loans and leases to core deposits
  • 84.41%Equity capital to assets
  • 7.17%Core capital (leverage) ratio
  • 4.60%Tier 1 risk-based capital ratio
  • 6.02%Total risk-based capital ratio
  • Memoranda
  • $7Average assets
  • $393,614Average earning assets
  • $27,838Average equity
  • $343,359Average loans

List of branches

  • 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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