The First Western Bank Sturgis in Sturgis, South Dakota (SD)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 26, 2009

  • The First Western Bank Sturgis in Sturgis, South Dakota (SD)
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The First Western Bank Sturgis - Overview

  • General
  • FDIC Certificate #: 26773
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Interstate Bank (#1105)
    Federal Reserve ID: 495352
    Date Established: September 05, 1986
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 7 (Interstate: No)
    OTS Docket #: 12864
    FDIC's unique #: 35918
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: September 05, 1986
    Last Structure Change Effective Date: September 26, 2009
    Last Structure Change Process Date: October 09, 2009
    Last Data Update: October 09, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 1200 Main Street, Sturgis, SD 57785
    County: Meade
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux Falls
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Rapid City, SD (#39660)
    CBSA Metro Statistical Area: Rapid City, SD (#39660)
  • Financial Summary
  • Total assets: $519.9 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, 2008)

  • Dollar figures in thousands
  • 98Total employees (full-time equivalent)
  • $511,518Total assets
  • $7,187Cash and due from depository institutions
  • $129Interest-bearing balances
  • $35,156Securities
  • $29,500Federal funds sold & reverse repurchase agreements
  • $346,207Net loans & leases
  • $7,366Loan loss allowance
  • $0Trading account assets
  • $17,711Bank premises and fixed assets
  • $30Other real estate owned
  • $67,622Goodwill and other intangibles
  • $0Life insurance assets
  • $8,105All other assets
  • $511,518Total liabilities and capital
  • $400,136Total liabilities
  • $393,592Total deposits
  • $335,508Interest-bearing deposits
  • $393,592Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,045Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $919Other borrowed funds
  • $0Subordinated debt
  • $4,580All other liabilities
  • $111,382Total equity capital
  • $111,382Total bank equity capital
  • $111,382Perpetual preferred stock
  • $0Common stock
  • $400Surplus
  • $110,209Undivided profits
  • Memoranda
  • $773Noncurrent loans and leases
  • $35,792Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $7,497Earning assets
  • $0Long-term assets (5+ years)
  • $3,312Average Assets, year-to-date
  • $410,992Average Assets, quarterly
  • $22,688Volatile liabilities
  • $476,044Insider loans
  • $503,530FHLB advances
  • $75,274Loans and leases held for sale
  • $23Unused loan commitments
  • $904Tier 1 (core) risk-based capital
  • $17,133Tier 2 risk-based capital
  • $2,556Total risk weighted assets
  • $35,792Total unused commitments
  • $0Restructured Loans and leases
  • $4,903Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $27,016Total interest income
  • $9,475Total interest expense
  • $17,541Net interest income
  • $4,181Provision for loan and lease losses
  • $3,446Total noninterest income
  • $0Fiduciary activities
  • $1,483Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,963Additional noninterest income
  • $11,588Total noninterest expense
  • $5,911Salaries and employee benefits
  • $917Premises and equipment expense
  • $4,760Additional noninterest expense
  • $5,218Pre-tax net operating income
  • $2Securities gains (losses)
  • $1,678Applicable income taxes
  • $3,542Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,542Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2,880Sale, conversion, retirement of capital stock, net
  • $3,000Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.94%Yield on earning assets
  • 2.43%Cost of funding earning assets
  • 4.51%Net interest margin
  • 0.89%Noninterest income to earning assets
  • 2.98%Noninterest expense to earning assets
  • 0.74%Net operating income to assets
  • 0.74%Return on assets (ROA)
  • 1.10%Pretax return on assets
  • 3.67%Return on equity (ROE)
  • 0.56%Retained earnings to average equity (YTD only)
  • 0.85%Net charge-offs to loans
  • 145.17%Credit loss provision to net charge-offs
  • 3.26%Efficiency ratio
  • 50,331Assets per employee
  • 5.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 84.70%Loss allowance to loans
  • 2.08%Loss allowance to noncurrent loans
  • 98.25%Noncurrent assets plus other real estate owned to assets
  • 1.47%Noncurrent loans to loans
  • 2.12%Net loans and leases to deposits
  • 87.96%Net loans and leases to core deposits
  • 108.40%Equity capital to assets
  • 21.77%Core capital (leverage) ratio
  • 9.79%Tier 1 risk-based capital ratio
  • 11.17%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $476,044Average earning assets
  • $96,464Average equity
  • $389,361Average loans

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