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



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The First National Bank of Gilbert routing number info

Table of contents:
The First National Bank of Gilbert
GeneralFDIC Certificate #: 5150
Status: Active
Federal Reserve ID: 975452
Date Established: October 26, 1908
WWW: http://www.gilbertbank.com
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 #: 3450
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: All Other Specialization < 1 Billion
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
LocationAddress: 2 North Broadway, Gilbert, MN 55741
County: St. Louis
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): Duluth-Superior, MN-WI (#2240)
Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $26.7 mil
Equity capital: $3.6 mil
Deposits held in domestic offices: $22.8 mil
Return on assets (ROA): 0.28% ($0.1 mil)
Quarterly return on assets: -0.02% (-$0.0 mil)
Return on Equity (ROE): 2.01% ($0.1 mil)
Quarterly return on equity: -0.11% (-$0.0 mil)
Net income: $0.1 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 0.20% ($53.5 mil)
Quarterly Pretax return on assets: 0.15% ($40.1 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)11
Total assets$26,745
Cash and due from depository institutions$9,291
Interest-bearing balances$8,232
Securities$5,495
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$10,996
Loan loss allowance $173
Trading account assets$0
Bank premises and fixed assets$288
Other real estate owned$11
Goodwill and other intangibles$0
All other assets$664
Life insurance assets$26,745
Total liabilities and capital$23,158
Total liabilities$22,827
Total deposits$18,979
Interest-bearing deposits$22,827
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $331
All other liabilities $3,587
Total equity capital$3,587
Total bank equity capital$3,587
Perpetual preferred stock$0
Common stock$50
Surplus$50
Undivided profits $3,487
Memoranda
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 $860
Earning assets $0
Long-term assets (5+ years) $105
Average Assets, year-to-date $24,723
Average Assets, quarterly $4,601
Volatile liabilities $25,648
Insider loans $26,652
FHLB advances $11,513
Loans and leases held for sale $26,932
Unused loan commitments $331
Tier 1 (core) risk-based capital $331
Tier 2 risk-based capital $3,403
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $155
Derivatives$481
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $979
Total interest expense $156
Net interest income $823
Provision for loan and lease losses $2
Total noninterest income $103
Fiduciary activities $0
Service charges on deposit accounts $68
Trading account gains & fees $0
Additional noninterest income $35
Total noninterest expense $901
Salaries and employee benefits $556
Premises and equipment expense $59
Additional noninterest expense $286
Pre-tax net operating income $23
Securities gains (losses) $29
Applicable income taxes -$19
Income before extraordinary items $71
Extraordinary gains - net $0
Net income attributable to bank $71
Net charge-offs $0
Cash dividends $71
Sale, conversion, retirement of capital stock, net -$1
Net operating income $20
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.31%
Cost of funding earning assets 0.69%
Net interest margin 3.62%
Noninterest income to earning assets 0.45%
Noninterest expense to earning assets 3.96%
Net operating income to assets 0.16%
Return on assets (ROA) 0.28%
Pretax return on assets 0.20%
Return on equity (ROE) 2.01%
Retained earnings to average equity (YTD only) 1.45%
Net charge-offs to loans -0.01%
Credit loss provision to net charge-offs -200.00%
Efficiency ratio0.00%
Assets per employee$97,300
Cash dividends to net income (YTD only)2.43%
Condition Ratios (%)
Loss allowance to loans 28.17%
Loss allowance to noncurrent loans 1.55%
Noncurrent assets plus other real estate owned to assets 20.12%
Noncurrent loans to loans 3.26%
Net loans and leases to deposits7.70%
Net loans and leases to core deposits 48.17%
Equity capital to assets 49.47%
Core capital (leverage) ratio 13.41%
Tier 1 risk-based capital ratio 12.64%
Total risk-based capital ratio 29.56%
Memoranda
Average assets$31
Average earning assets$25,648
Average equity $3,527
Average loans $22,732
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03450The First National Bank Of Gilbert2 North Broadway, Gilbert, MN 55741October 26, 1908Full Service Brick and Mortar
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