The Business Bank in Minnetonka, Minnesota (MN)
| The Business Bank | |
|---|---|
| General | FDIC Certificate #: 35487 Status: Active Federal Reserve ID: 2897400 Bank Holding Company (Regulatory Top Holder): Business Bancorporation, Inc. (RSSDID: 2897398, Location: Minnetonka, MN) Date Established: May 22, 2000 WWW: http://www.businessbankmn.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 80571 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: Mortgage Lending Specialization Date of Deposit Insurance: May 22, 2000 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: 11100 Wayzata Boulevard, Suite 150, Minnetonka, MN 55305 County: Hennepin 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: $196.1 mil Equity capital: $13.4 mil Deposits held in domestic offices: $143.0 mil Return on assets (ROA): 0.73% ($1.4 mil) Quarterly return on assets: 1.04% ($2.0 mil) Return on Equity (ROE): 8.67% ($1.1 mil) Quarterly return on equity: 14.59% ($1.9 mil) Net income: $1.1 mil Quarterly Net income: $0.5 mil Pretax return on assets: 1.15% ($2,255.5 mil) Quarterly Pretax return on assets: 1.59% ($3,118.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 178 |
| Total assets | $196,128 |
| Cash and due from depository institutions | $9,449 |
| Interest-bearing balances | $6,564 |
| Securities | $12,721 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $166,399 |
| Loan loss allowance | $1,232 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $731 |
| Other real estate owned | $349 |
| Goodwill and other intangibles | $18 |
| All other assets | $6,461 |
| Life insurance assets | $196,128 |
| Total liabilities and capital | $182,751 |
| Total liabilities | $143,031 |
| Total deposits | $121,446 |
| Interest-bearing deposits | $143,031 |
| Deposits held in domestic offices | $73 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $36,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $3,720 |
| All other liabilities | $13,377 |
| Total equity capital | $13,377 |
| Total bank equity capital | $13,377 |
| Perpetual preferred stock | $0 |
| Common stock | $20 |
| Surplus | $11,242 |
| Undivided profits | $2,115 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $91,410 |
| Income earned, not collected on loans | $1,039 |
| Earning assets | $431 |
| Long-term assets (5+ years) | $401 |
| Average Assets, year-to-date | $185,684 |
| Average Assets, quarterly | $99,128 |
| Volatile liabilities | $152,131 |
| Insider loans | $178,141 |
| FHLB advances | $128,801 |
| Loans and leases held for sale | $175,835 |
| Unused loan commitments | $2,488 |
| Tier 1 (core) risk-based capital | $2,488 |
| Tier 2 risk-based capital | $13,572 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $18,952 |
| Derivatives | $1,560 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $6,567 |
| Total interest expense | $1,165 |
| Net interest income | $5,402 |
| Provision for loan and lease losses | $970 |
| Total noninterest income | $20,938 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $125 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $20,813 |
| Total noninterest expense | $23,624 |
| Salaries and employee benefits | $18,678 |
| Premises and equipment expense | $2,234 |
| Additional noninterest expense | $2,712 |
| Pre-tax net operating income | $1,746 |
| Securities gains (losses) | $4 |
| Applicable income taxes | $644 |
| Income before extraordinary items | $1,106 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,106 |
| Net charge-offs | $0 |
| Cash dividends | $1,106 |
| Sale, conversion, retirement of capital stock, net | $1,047 |
| Net operating income | $1,750 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.59% |
| Cost of funding earning assets | 0.81% |
| Net interest margin | 3.78% |
| Noninterest income to earning assets | 14.64% |
| Noninterest expense to earning assets | 16.52% |
| Net operating income to assets | 0.73% |
| Return on assets (ROA) | 0.73% |
| Pretax return on assets | 1.15% |
| Return on equity (ROE) | 8.67% |
| Retained earnings to average equity (YTD only) | -5.05% |
| Net charge-offs to loans | 0.83% |
| Credit loss provision to net charge-offs | 92.65% |
| Efficiency ratio | 2.59% |
| Assets per employee | $89,689 |
| Cash dividends to net income (YTD only) | 1.10% |
| Condition Ratios (%) | |
| Loss allowance to loans | 158.23% |
| Loss allowance to noncurrent loans | 0.73% |
| Noncurrent assets plus other real estate owned to assets | 118.58% |
| Noncurrent loans to loans | 0.71% |
| Net loans and leases to deposits | 0.62% |
| Net loans and leases to core deposits | 116.34% |
| Equity capital to assets | 280.99% |
| Core capital (leverage) ratio | 6.82% |
| Tier 1 risk-based capital ratio | 7.72% |
| Total risk-based capital ratio | 10.54% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $152,131 |
| Average equity | $12,756 |
| Average loans | $143,029 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 80571 | The Business Bank | 11100 Wayzata Boulevard, Suite 150, Minnetonka, MN 55305 | May 22, 2000 | Full Service Brick and Mortar |  |
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