The Gary State Bank in Gary, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


The Gary State Bank - Overview

  • General
  • FDIC Certificate #: 16472
    Status: Active
    Federal Reserve ID: 999355
    Date Established: August 17, 1946
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 10636
    Numeric code: 21
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: August 17, 1946
    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: 112 Main Ave, Gary, MN 56545
    County: Norman
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $11.8 mil
    Equity capital: $1.5 mil
    Deposits held in domestic offices: $10.3 mil
    Return on assets (ROA): 1.36% ($0.2 mil)
    Quarterly return on assets: 1.56% ($0.2 mil)
    Return on Equity (ROE): 10.44% ($0.1 mil)
    Quarterly return on equity: 11.95% ($0.1 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 1.36% ($160.8 mil)
    Quarterly Pretax return on assets: 1.56% ($184.5 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
  • 5Total employees (full-time equivalent)
  • $11,825Total assets
  • $3,216Cash and due from depository institutions
  • $1,595Interest-bearing balances
  • $0Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $8,363Net loans & leases
  • $342Loan loss allowance
  • $0Trading account assets
  • $40Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $11,825Life insurance assets
  • $206All other assets
  • $10,330Total liabilities and capital
  • $10,314Total liabilities
  • $7,295Total deposits
  • $10,314Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $16Subordinated debt
  • $1,495All other liabilities
  • $1,495Total equity capital
  • $1,495Total bank equity capital
  • $0Perpetual preferred stock
  • $25Common stock
  • $1,275Surplus
  • $195Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $97Income earned, not collected on loans
  • $0Earning assets
  • $160Long-term assets (5+ years)
  • $9,958Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $10,923Volatile liabilities
  • $11,257Insider loans
  • $7,999FHLB advances
  • $11,432Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $1,495Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $279Restructured Loans and leases
  • $230Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $533Total interest income
  • $43Total interest expense
  • $490Net interest income
  • $0Provision for loan and lease losses
  • $94Total noninterest income
  • $0Fiduciary activities
  • $46Service charges on deposit accounts
  • $0Trading account gains & fees
  • $48Additional noninterest income
  • $435Total noninterest expense
  • $294Salaries and employee benefits
  • $33Premises and equipment expense
  • $108Additional noninterest expense
  • $149Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $149Income before extraordinary items
  • $0Extraordinary gains - net
  • $149Net income attributable to bank
  • $0Net charge-offs
  • $149Cash dividends
  • -$93Sale, conversion, retirement of capital stock, net
  • $53Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.51%Yield on earning assets
  • 0.44%Cost of funding earning assets
  • 5.06%Net interest margin
  • 0.97%Noninterest income to earning assets
  • 4.49%Noninterest expense to earning assets
  • 1.36%Net operating income to assets
  • 1.36%Return on assets (ROA)
  • 1.36%Pretax return on assets
  • 10.44%Return on equity (ROE)
  • 6.73%Retained earnings to average equity (YTD only)
  • -1.15%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 74,486Assets per employee
  • 2.37%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 35.57%Loss allowance to loans
  • 3.93%Loss allowance to noncurrent loans
  • 352.58%Noncurrent assets plus other real estate owned to assets
  • 0.82%Noncurrent loans to loans
  • 1.11%Net loans and leases to deposits
  • 81.08%Net loans and leases to core deposits
  • 87.44%Equity capital to assets
  • 12.64%Core capital (leverage) ratio
  • 13.08%Tier 1 risk-based capital ratio
  • 18.69%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $10,923Average earning assets
  • $1,427Average equity
  • $9,682Average loans

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010636The Gary State Bank112 Main Ave, Gary, MN 56545August 17, 1946Full Service Brick and Mortar

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