The First National Bank of Fairfax in Fairfax, Minnesota (MN)

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The First National Bank of Fairfax
GeneralFDIC Certificate #: 5142
Status: Active
Federal Reserve ID: 938354
Bank Holding Company (Regulatory Top Holder): Fort Ridgely National Bancorporation, Inc. (RSSDID: 2131373, Location: Fairfax, MN)
Date Established: January 01, 1910
Trust Powers Granted: No
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 3442
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: June 01, 2010
Last Structure Change Process Date: June 01, 2010
Last Data Update: June 01, 2010
Data Source Date: April 05, 2012
LocationAddress: 18 S.E. First Ave, Fairfax, MN 55332
County: Renville
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Mankato
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of ChangesChange in Location
Financial SummaryTotal assets: $29.3 mil
Equity capital: $10.5 mil
Deposits held in domestic offices: $18.8 mil
Return on assets (ROA): 1.06% ($0.3 mil)
Quarterly return on assets: -0.57% (-$0.2 mil)
Return on Equity (ROE): 2.81% ($0.3 mil)
Quarterly return on equity: -1.52% (-$0.2 mil)
Net income: $0.3 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 1.06% ($310.5 mil)
Quarterly Pretax return on assets: -0.57% (-$167.0 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)7
Total assets$29,293
Cash and due from depository institutions$4,429
Interest-bearing balances$3,500
Federal funds sold & reverse repurchase agreements$1,900
Net loans & leases$22,192
Loan loss allowance $395
Trading account assets$0
Bank premises and fixed assets$76
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$551
Life insurance assets$29,293
Total liabilities and capital$18,782
Total liabilities$18,769
Total deposits$11,823
Interest-bearing deposits$18,769
Deposits held in domestic offices$98
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $13
All other liabilities $10,511
Total equity capital$10,511
Total bank equity capital$10,511
Perpetual preferred stock$0
Common stock$100
Undivided profits $10,252
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 $311
Earning assets $0
Long-term assets (5+ years) $434
Average Assets, year-to-date $27,737
Average Assets, quarterly $1,973
Volatile liabilities $27,395
Insider loans $28,136
FHLB advances $29,698
Loans and leases held for sale $27,578
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $10,511
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,417
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,269
Total interest expense $97
Net interest income $1,172
Provision for loan and lease losses $50
Total noninterest income $86
Fiduciary activities $0
Service charges on deposit accounts $71
Trading account gains & fees $0
Additional noninterest income $15
Total noninterest expense $917
Salaries and employee benefits $479
Premises and equipment expense $186
Additional noninterest expense $252
Pre-tax net operating income $291
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $291
Extraordinary gains - net $0
Net income attributable to bank $291
Net charge-offs $0
Cash dividends $291
Sale, conversion, retirement of capital stock, net $7
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 assets4.86%
Cost of funding earning assets 0.37%
Net interest margin 4.49%
Noninterest income to earning assets 0.33%
Noninterest expense to earning assets 3.51%
Net operating income to assets 1.06%
Return on assets (ROA) 1.06%
Pretax return on assets 1.06%
Return on equity (ROE) 2.81%
Retained earnings to average equity (YTD only) 2.81%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs 714.29%
Efficiency ratio48.71%
Assets per employee$72,893
Cash dividends to net income (YTD only)4.18%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.75%
Noncurrent assets plus other real estate owned to assets 127.01%
Noncurrent loans to loans 1.06%
Net loans and leases to deposits1.38%
Net loans and leases to core deposits 118.24%
Equity capital to assets 118.24%
Core capital (leverage) ratio 35.88%
Tier 1 risk-based capital ratio 38.11%
Total risk-based capital ratio 35.39%
Average assets$37
Average earning assets$27,395
Average equity $10,351
Average loans $26,103
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03442The First National Bank Of Fairfax18 S.E. First Ave, Fairfax, MN 55332January 01, 1910Full Service Brick and Mortar
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