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

This bank is inactive as of January 02, 2002

  • The First National Bank of Bovey in Bovey, Minnesota (MN)
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The First National Bank of Bovey - Overview

  • General
  • FDIC Certificate #: 5098
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: American Bank of the North (#10954)
    Federal Reserve ID: 336352
    Date Established: January 01, 1905
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Interstate: No)
    FDIC's unique #: 3407
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: January 02, 2002
    Last Structure Change Process Date: January 30, 2002
    Last Data Update: January 30, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: Main Street, Bovey, MN 55709
    County: Itasca
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • Financial Summary
  • Total assets: $13.6 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, 2001)

  • Dollar figures in thousands
  • 7Total employees (full-time equivalent)
  • $13,648Total assets
  • $3,591Cash and due from depository institutions
  • $593Interest-bearing balances
  • $2,044Securities
  • $1,700Federal funds sold & reverse repurchase agreements
  • $6,031Net loans & leases
  • $97Loan loss allowance
  • $0Trading account assets
  • $74Bank premises and fixed assets
  • $122Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $86All other assets
  • $13,648Total liabilities and capital
  • $12,619Total liabilities
  • $12,578Total deposits
  • $10,183Interest-bearing deposits
  • $12,578Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $41All other liabilities
  • $1,029Total equity capital
  • $1,029Total bank equity capital
  • $1,029Perpetual preferred stock
  • $0Common stock
  • $60Surplus
  • $145Undivided profits
  • Memoranda
  • $824Noncurrent loans and leases
  • $125Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $15Earning assets
  • $0Long-term assets (5+ years)
  • $65Average Assets, year-to-date
  • $10,368Average Assets, quarterly
  • $2,720Volatile liabilities
  • $12,606Insider loans
  • $13,209FHLB advances
  • $355Loans and leases held for sale
  • $15Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $125Total unused commitments
  • $120Restructured Loans and leases
  • $76Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $841Total interest income
  • $366Total interest expense
  • $475Net interest income
  • $0Provision for loan and lease losses
  • $88Total noninterest income
  • $0Fiduciary activities
  • $82Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6Additional noninterest income
  • $543Total noninterest expense
  • $267Salaries and employee benefits
  • $46Premises and equipment expense
  • $230Additional noninterest expense
  • $20Pre-tax net operating income
  • $0Securities gains (losses)
  • $3Applicable income taxes
  • $17Income before extraordinary items
  • $0Extraordinary gains - net
  • $17Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • -$1Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.57%Yield on earning assets
  • 3.29%Cost of funding earning assets
  • 4.27%Net interest margin
  • 0.79%Noninterest income to earning assets
  • 4.89%Noninterest expense to earning assets
  • 0.13%Net operating income to assets
  • 0.13%Return on assets (ROA)
  • 0.16%Pretax return on assets
  • 1.64%Return on equity (ROE)
  • 1.64%Retained earnings to average equity (YTD only)
  • -0.01%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 96,448Assets per employee
  • 1.95%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 646.67%Noncurrent assets plus other real estate owned to assets
  • 1.00%Noncurrent loans to loans
  • 0.24%Net loans and leases to deposits
  • 47.95%Net loans and leases to core deposits
  • 49.34%Equity capital to assets
  • 7.54%Core capital (leverage) ratio
  • 7.56%Tier 1 risk-based capital ratio
  • 16.07%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $12,606Average earning assets
  • $1,035Average equity
  • $11,112Average loans

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