The Garrett State Bank in Garrett, Indiana (IN)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Garrett State Bank - Overview

  • General
  • FDIC Certificate #: 8074
    Status: Active
    Federal Reserve ID: 465243
    Bank Holding Company (Regulatory Top Holder): G.S.b. Financial Corporation (RSSDID: 1210011, Location: Garrett, IN)
    Date Established: November 01, 1893
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 10656
    FDIC's unique #: 5134
    Numeric code: 13
    Regulator: FED
    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: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Mortgage 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
  • Location
  • Address: 120 West King Street, Garrett, IN 46738
    County: Dekalb
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Indianapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Fort Wayne, IN (#2760)
    Combined Statistical Area (CSA): Fort Wayne-Huntington-Auburn, IN (#258)
    Core Based Statistical Area (CBSA): Auburn, IN (#12140)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $174.7 mil
    Equity capital: $16.0 mil
    Deposits held in domestic offices: $143.0 mil
    Return on assets (ROA): 1.50% ($2.6 mil)
    Quarterly return on assets: 1.16% ($2.0 mil)
    Return on Equity (ROE): 16.45% ($2.6 mil)
    Quarterly return on equity: 12.39% ($2.0 mil)
    Net income: $2.6 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.50% ($2,620.3 mil)
    Quarterly Pretax return on assets: 1.16% ($2,026.4 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
  • 32Total employees (full-time equivalent)
  • $174,690Total assets
  • $13,540Cash and due from depository institutions
  • $12,052Interest-bearing balances
  • $36,362Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $120,324Net loans & leases
  • $1,589Loan loss allowance
  • $0Trading account assets
  • $1,820Bank premises and fixed assets
  • $81Other real estate owned
  • $0Goodwill and other intangibles
  • $174,690Life insurance assets
  • $2,563All other assets
  • $158,721Total liabilities and capital
  • $142,996Total liabilities
  • $125,838Total deposits
  • $142,996Interest-bearing deposits
  • $72Deposits held in domestic offices
  • 1536.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $12,954Trading liabilities
  • $0Other borrowed funds
  • $1,235Subordinated debt
  • $15,969All other liabilities
  • $15,969Total equity capital
  • $15,969Total bank equity capital
  • $0Perpetual preferred stock
  • $600Common stock
  • $3,300Surplus
  • $12,069Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $879Income earned, not collected on loans
  • $0Earning assets
  • $606Long-term assets (5+ years)
  • $168,738Average Assets, year-to-date
  • $113,084Average Assets, quarterly
  • $171,040Volatile liabilities
  • $171,764Insider loans
  • $92,513FHLB advances
  • $172,734Loans and leases held for sale
  • $118Unused loan commitments
  • $118Tier 1 (core) risk-based capital
  • $15,364Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,207Restructured Loans and leases
  • $4,368Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,391Total interest income
  • $2,145Total interest expense
  • $6,246Net interest income
  • $400Provision for loan and lease losses
  • $484Total noninterest income
  • $4Fiduciary activities
  • $290Service charges on deposit accounts
  • $0Trading account gains & fees
  • $190Additional noninterest income
  • $3,932Total noninterest expense
  • $2,180Salaries and employee benefits
  • $386Premises and equipment expense
  • $1,366Additional noninterest expense
  • $2,398Pre-tax net operating income
  • $162Securities gains (losses)
  • $0Applicable income taxes
  • $2,560Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,560Net income attributable to bank
  • $0Net charge-offs
  • $2,560Cash dividends
  • $95Sale, conversion, retirement of capital stock, net
  • $1,389Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.09%Yield on earning assets
  • 1.30%Cost of funding earning assets
  • 3.79%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 2.38%Noninterest expense to earning assets
  • 1.40%Net operating income to assets
  • 1.50%Return on assets (ROA)
  • 1.50%Pretax return on assets
  • 16.45%Return on equity (ROE)
  • 7.52%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 421.05%Credit loss provision to net charge-offs
  • 29.45%Efficiency ratio
  • 58,425Assets per employee
  • 5.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.26%Loss allowance to loans
  • 1.30%Loss allowance to noncurrent loans
  • 180.77%Noncurrent assets plus other real estate owned to assets
  • 0.55%Noncurrent loans to loans
  • 0.72%Net loans and leases to deposits
  • 84.15%Net loans and leases to core deposits
  • 100.42%Equity capital to assets
  • 9.14%Core capital (leverage) ratio
  • 8.89%Tier 1 risk-based capital ratio
  • 16.61%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $171,040Average earning assets
  • $15,565Average equity
  • $164,949Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1,770Managed Assets
  • 1Number of Accounts
  • $1,770Personal trust and agency accounts
  • $1,590Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $180Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 6Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Indiana Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05134The Garrett State Bank120 West King Street, Garrett, IN 46738November 01, 1893Full Service Brick and Mortar
    1217878Pine Valley Branch811 Mill Lake Road, Fort Wayne, IN 46845October 17, 1989Full Service Brick and Mortar
    2217879South Branch1341 South Randolph Street, Garrett, IN 46738April 18, 1997Full Service Brick and Mortar

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