The Miners National Bank of Eveleth in Eveleth, Minnesota (MN)



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The Miners National Bank of Eveleth
GeneralFDIC Certificate #: 5141
Status: Active
Federal Reserve ID: 43856
Date Established: October 10, 1903
WWW: http://www.mnbeveleth.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)
OTS Docket #: 13578
FDIC's unique #: 3441
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: Other Specialized Lending < 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: 401 Grant Avenue, Eveleth, MN 55734
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: $49.9 mil
Equity capital: $5.0 mil
Deposits held in domestic offices: $44.4 mil
Return on assets (ROA): 0.26% ($0.1 mil)
Quarterly return on assets: 0.20% ($0.1 mil)
Return on Equity (ROE): 2.56% ($0.1 mil)
Quarterly return on equity: 2.01% ($0.1 mil)
Net income: $0.1 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.27% ($134.7 mil)
Quarterly Pretax return on assets: 0.27% ($134.7 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)16
Total assets$49,874
Cash and due from depository institutions$13,197
Interest-bearing balances$11,282
Securities$17,276
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$17,539
Loan loss allowance $262
Trading account assets$0
Bank premises and fixed assets$434
Other real estate owned$7
Goodwill and other intangibles$0
All other assets$1,421
Life insurance assets$49,874
Total liabilities and capital$44,920
Total liabilities$44,381
Total deposits$35,221
Interest-bearing deposits$44,381
Deposits held in domestic offices$84
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $539
All other liabilities $4,954
Total equity capital$4,954
Total bank equity capital$4,954
Perpetual preferred stock$0
Common stock$150
Surplus$150
Undivided profits $4,654
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 $234
Earning assets $0
Long-term assets (5+ years) $152
Average Assets, year-to-date $46,097
Average Assets, quarterly $9,965
Volatile liabilities $47,879
Insider loans $50,281
FHLB advances $21,545
Loans and leases held for sale $50,518
Unused loan commitments $671
Tier 1 (core) risk-based capital $671
Tier 2 risk-based capital $4,838
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,688
Derivatives$697
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,817
Total interest expense $286
Net interest income $1,531
Provision for loan and lease losses $0
Total noninterest income $157
Fiduciary activities $0
Service charges on deposit accounts $80
Trading account gains & fees $0
Additional noninterest income $77
Total noninterest expense $1,560
Salaries and employee benefits $991
Premises and equipment expense $122
Additional noninterest expense $447
Pre-tax net operating income $128
Securities gains (losses) $0
Applicable income taxes $4
Income before extraordinary items $124
Extraordinary gains - net $0
Net income attributable to bank $124
Net charge-offs $0
Cash dividends $124
Sale, conversion, retirement of capital stock, net -$3
Net operating income $50
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.23%
Cost of funding earning assets 0.67%
Net interest margin 3.56%
Noninterest income to earning assets 0.37%
Noninterest expense to earning assets 3.63%
Net operating income to assets 0.26%
Return on assets (ROA) 0.26%
Pretax return on assets 0.27%
Return on equity (ROE) 2.56%
Retained earnings to average equity (YTD only) 1.53%
Net charge-offs to loans -0.02%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$92,417
Cash dividends to net income (YTD only)3.12%
Condition Ratios (%)
Loss allowance to loans 40.32%
Loss allowance to noncurrent loans 1.47%
Noncurrent assets plus other real estate owned to assets 111.97%
Noncurrent loans to loans 0.48%
Net loans and leases to deposits1.31%
Net loans and leases to core deposits 39.52%
Equity capital to assets 44.32%
Core capital (leverage) ratio 9.93%
Tier 1 risk-based capital ratio 9.58%
Total risk-based capital ratio 22.46%
Memoranda
Average assets$24
Average earning assets$47,879
Average equity $4,845
Average loans $42,952
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03441The Miners National Bank Of Eveleth401 Grant Avenue, Eveleth, MN 55734October 10, 1903Full Service Brick and Mortar
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