The Pioneer National Bank of Duluth in Duluth, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Pioneer National Bank of Duluth - Overview

  • General
  • FDIC Certificate #: 5130
    Status: Active
    Federal Reserve ID: 378558
    Bank Holding Company (Regulatory Top Holder): Pioneer Bank Shares, Inc. (RSSDID: 1135552, Location: Duluth, MN)
    Date Established: January 01, 1912
    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)
    FDIC's unique #: 3432
    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
  • Location
  • Address: 331 North Central Avenue, Duluth, MN 55807
    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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $85.6 mil
    Equity capital: $8.4 mil
    Deposits held in domestic offices: $72.1 mil
    Return on assets (ROA): 1.36% ($1.2 mil)
    Quarterly return on assets: 1.36% ($1.2 mil)
    Return on Equity (ROE): 13.59% ($1.1 mil)
    Quarterly return on equity: 13.78% ($1.1 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.36% ($1,164.6 mil)
    Quarterly Pretax return on assets: 1.36% ($1,164.6 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
  • 25Total employees (full-time equivalent)
  • $85,630Total assets
  • $14,610Cash and due from depository institutions
  • $9,968Interest-bearing balances
  • $4,530Securities
  • $1,048Federal funds sold & reverse repurchase agreements
  • $62,617Net loans & leases
  • $636Loan loss allowance
  • $0Trading account assets
  • $1,691Bank premises and fixed assets
  • $75Other real estate owned
  • $26Goodwill and other intangibles
  • $85,630Life insurance assets
  • $1,033All other assets
  • $77,207Total liabilities and capital
  • $72,092Total liabilities
  • $57,852Total deposits
  • $72,092Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,000Trading liabilities
  • $0Other borrowed funds
  • $1,115Subordinated debt
  • $8,423All other liabilities
  • $8,423Total equity capital
  • $8,423Total bank equity capital
  • $0Perpetual preferred stock
  • $251Common stock
  • $875Surplus
  • $7,297Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $250Income earned, not collected on loans
  • $0Earning assets
  • $252Long-term assets (5+ years)
  • $78,163Average Assets, year-to-date
  • $9,888Average Assets, quarterly
  • $82,931Volatile liabilities
  • $85,619Insider loans
  • $61,900FHLB advances
  • $87,621Loans and leases held for sale
  • $94Unused loan commitments
  • $94Tier 1 (core) risk-based capital
  • $8,219Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,652Restructured Loans and leases
  • $174Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,418Total interest income
  • $475Total interest expense
  • $3,943Net interest income
  • $100Provision for loan and lease losses
  • $329Total noninterest income
  • $0Fiduciary activities
  • $144Service charges on deposit accounts
  • $0Trading account gains & fees
  • $185Additional noninterest income
  • $3,024Total noninterest expense
  • $1,697Salaries and employee benefits
  • $401Premises and equipment expense
  • $926Additional noninterest expense
  • $1,148Pre-tax net operating income
  • -$19Securities gains (losses)
  • $2Applicable income taxes
  • $1,127Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,127Net income attributable to bank
  • $0Net charge-offs
  • $1,127Cash dividends
  • $89Sale, conversion, retirement of capital stock, net
  • $909Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.72%Yield on earning assets
  • 0.61%Cost of funding earning assets
  • 5.10%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 3.91%Noninterest expense to earning assets
  • 1.38%Net operating income to assets
  • 1.36%Return on assets (ROA)
  • 1.36%Pretax return on assets
  • 13.59%Return on equity (ROE)
  • 2.63%Retained earnings to average equity (YTD only)
  • 0.14%Net charge-offs to loans
  • 112.36%Credit loss provision to net charge-offs
  • 14.02%Efficiency ratio
  • 70,787Assets per employee
  • 3.43%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 80.66%Loss allowance to loans
  • 1.01%Loss allowance to noncurrent loans
  • 254.40%Noncurrent assets plus other real estate owned to assets
  • 0.38%Noncurrent loans to loans
  • 0.40%Net loans and leases to deposits
  • 86.86%Net loans and leases to core deposits
  • 92.06%Equity capital to assets
  • 9.84%Core capital (leverage) ratio
  • 9.38%Tier 1 risk-based capital ratio
  • 13.28%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $82,931Average earning assets
  • $8,293Average equity
  • $77,253Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    03432The Pioneer National Bank Of Duluth331 North Central Avenue, Duluth, MN 55807January 01, 1912Full Service Brick and Mortar
    1270158Miller Hill Mall Branch1600 Miller Trunk Highway, Duluth, MN 55811January 01, 1922Full Service Brick and Mortar
    2207128Mt Royal Branch120 Mt Royal Shopping Circle, Duluth, MN 55803August 05, 1996Full Service Brick and Mortar

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