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

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The First National Bank of Waseca
GeneralFDIC Certificate #: 5270
Status: Active
Federal Reserve ID: 837354
Bank Holding Company (Regulatory Top Holder): Frankson Investment Corporation (RSSDID: 1122534, Location: Waseca, MN)
Date Established: December 18, 1902
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: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 11110
FDIC's unique #: 3541
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
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: 101 North State Street, Waseca, MN 56093
County: Waseca
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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $115.2 mil
Equity capital: $11.9 mil
Deposits held in domestic offices: $99.5 mil
Return on assets (ROA): 1.63% ($1.9 mil)
Quarterly return on assets: 1.39% ($1.6 mil)
Return on Equity (ROE): 15.70% ($1.9 mil)
Quarterly return on equity: 13.29% ($1.6 mil)
Net income: $1.9 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.63% ($1,877.9 mil)
Quarterly Pretax return on assets: 1.39% ($1,601.4 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)41
Total assets$115,207
Cash and due from depository institutions$14,284
Interest-bearing balances$8,723
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$84,330
Loan loss allowance $1,379
Trading account assets$0
Bank premises and fixed assets$2,372
Other real estate owned$9
Goodwill and other intangibles$1,589
All other assets$7,250
Life insurance assets$115,207
Total liabilities and capital$103,289
Total liabilities$99,536
Total deposits$79,698
Interest-bearing deposits$99,536
Deposits held in domestic offices$87
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$2,700
Other borrowed funds $0
Subordinated debt $1,053
All other liabilities $11,918
Total equity capital$11,918
Total bank equity capital$11,918
Perpetual preferred stock$0
Common stock$200
Undivided profits $6,175
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 $1,368
Earning assets $0
Long-term assets (5+ years) $614
Average Assets, year-to-date $98,426
Average Assets, quarterly $28,225
Volatile liabilities $114,793
Insider loans $114,856
FHLB advances $112,141
Loans and leases held for sale $115,882
Unused loan commitments $2,872
Tier 1 (core) risk-based capital $2,872
Tier 2 risk-based capital $10,629
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,502
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,679
Total interest expense $732
Net interest income $4,947
Provision for loan and lease losses $250
Total noninterest income $1,026
Fiduciary activities $0
Service charges on deposit accounts $300
Trading account gains & fees $0
Additional noninterest income $726
Total noninterest expense $3,856
Salaries and employee benefits $2,148
Premises and equipment expense $491
Additional noninterest expense $1,217
Pre-tax net operating income $1,867
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $1,867
Extraordinary gains - net $0
Net income attributable to bank $1,867
Net charge-offs $0
Cash dividends $1,867
Sale, conversion, retirement of capital stock, net $286
Net operating income $1,700
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.86%
Cost of funding earning assets 0.75%
Net interest margin 5.10%
Noninterest income to earning assets 1.06%
Noninterest expense to earning assets 3.98%
Net operating income to assets 1.63%
Return on assets (ROA) 1.63%
Pretax return on assets 1.63%
Return on equity (ROE) 15.70%
Retained earnings to average equity (YTD only) 1.40%
Net charge-offs to loans 0.33%
Credit loss provision to net charge-offs 87.41%
Efficiency ratio7.40%
Assets per employee$64,540
Cash dividends to net income (YTD only)2.81%
Condition Ratios (%)
Loss allowance to loans 91.06%
Loss allowance to noncurrent loans 1.61%
Noncurrent assets plus other real estate owned to assets 100.80%
Noncurrent loans to loans 1.20%
Net loans and leases to deposits1.60%
Net loans and leases to core deposits 84.72%
Equity capital to assets 87.23%
Core capital (leverage) ratio 10.34%
Tier 1 risk-based capital ratio 9.17%
Total risk-based capital ratio 9.48%
Average assets$11
Average earning assets$114,793
Average equity $11,893
Average loans $96,989
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03541The First National Bank Of Waseca101 North State Street, Waseca, MN 56093December 18, 1902Full Service Brick and Mortar
16248Ellendale Branch119 Fifth Avenue, Ellendale, MN 56026October 01, 1900Full Service Brick and Mortar
26251Hope BranchMain Street, Hope, MN 56046July 01, 1915Full Service Brick and Mortar
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