The First National Bank in Cannon Falls in Cannon Falls, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 20, 2007

  • The First National Bank in Cannon Falls in Cannon Falls, Minnesota (MN)
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The First National Bank in Cannon Falls - Overview

  • General
  • FDIC Certificate #: 5108
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Merchants Bank, National Association (#8866)
    Federal Reserve ID: 110057
    Date Established: April 10, 1878
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 2 (Interstate: No)
    OTS Docket #: 13842
    FDIC's unique #: 3415
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: September 20, 2007
    Last Structure Change Process Date: September 28, 2007
    Last Data Update: September 28, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 300 West Main Street, Cannon Falls, MN 55009
    County: Goodhue
    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
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Red Wing, MN (#39860)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $116.7 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, 2006)

  • Dollar figures in thousands
  • 41Total employees (full-time equivalent)
  • $122,131Total assets
  • $4,520Cash and due from depository institutions
  • $24Interest-bearing balances
  • $26,186Securities
  • $3,501Federal funds sold & reverse repurchase agreements
  • $79,757Net loans & leases
  • $1,536Loan loss allowance
  • $0Trading account assets
  • $4,577Bank premises and fixed assets
  • $1,213Other real estate owned
  • $203Goodwill and other intangibles
  • $0Life insurance assets
  • $2,174All other assets
  • $122,131Total liabilities and capital
  • $111,958Total liabilities
  • $101,476Total deposits
  • $92,147Interest-bearing deposits
  • $101,476Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $2,066Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $7,648Other borrowed funds
  • $0Subordinated debt
  • $768All other liabilities
  • $10,173Total equity capital
  • $10,173Total bank equity capital
  • $10,173Perpetual preferred stock
  • $0Common stock
  • $630Surplus
  • $5,025Undivided profits
  • Memoranda
  • $4,518Noncurrent loans and leases
  • $15,534Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,565Earning assets
  • $0Long-term assets (5+ years)
  • $1,006Average Assets, year-to-date
  • $109,468Average Assets, quarterly
  • $10,821Volatile liabilities
  • $125,095Insider loans
  • $121,615FHLB advances
  • $25,684Loans and leases held for sale
  • $425Unused loan commitments
  • $7,600Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $15,534Total unused commitments
  • $648Restructured Loans and leases
  • $1,178Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $8,407Total interest income
  • $3,415Total interest expense
  • $4,992Net interest income
  • $570Provision for loan and lease losses
  • $845Total noninterest income
  • $0Fiduciary activities
  • $452Service charges on deposit accounts
  • $0Trading account gains & fees
  • $393Additional noninterest income
  • $4,555Total noninterest expense
  • $2,447Salaries and employee benefits
  • $619Premises and equipment expense
  • $1,489Additional noninterest expense
  • $712Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • $710Income before extraordinary items
  • $0Extraordinary gains - net
  • $710Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $557Sale, conversion, retirement of capital stock, net
  • $879Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.37%Yield on earning assets
  • 2.99%Cost of funding earning assets
  • 4.38%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 3.99%Noninterest expense to earning assets
  • 0.57%Net operating income to assets
  • 0.57%Return on assets (ROA)
  • 0.57%Pretax return on assets
  • 6.95%Return on equity (ROE)
  • -1.66%Retained earnings to average equity (YTD only)
  • 0.62%Net charge-offs to loans
  • 102.33%Credit loss provision to net charge-offs
  • 2.30%Efficiency ratio
  • 78,037Assets per employee
  • 2.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 123.80%Loss allowance to loans
  • 1.89%Loss allowance to noncurrent loans
  • 59.88%Noncurrent assets plus other real estate owned to assets
  • 3.09%Noncurrent loans to loans
  • 3.16%Net loans and leases to deposits
  • 78.60%Net loans and leases to core deposits
  • 96.83%Equity capital to assets
  • 8.33%Core capital (leverage) ratio
  • 8.43%Tier 1 risk-based capital ratio
  • 11.07%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $125,095Average earning assets
  • $10,209Average equity
  • $114,099Average loans

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