The Pioneer National Bank of Duluth in Duluth, Minnesota (MN)

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The Pioneer National Bank of Duluth
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)25
Total assets$85,630
Cash and due from depository institutions$14,610
Interest-bearing balances$9,968
Federal funds sold & reverse repurchase agreements$1,048
Net loans & leases$62,617
Loan loss allowance $636
Trading account assets$0
Bank premises and fixed assets$1,691
Other real estate owned$75
Goodwill and other intangibles$26
All other assets$1,033
Life insurance assets$85,630
Total liabilities and capital$77,207
Total liabilities$72,092
Total deposits$57,852
Interest-bearing deposits$72,092
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$4,000
Other borrowed funds $0
Subordinated debt $1,115
All other liabilities $8,423
Total equity capital$8,423
Total bank equity capital$8,423
Perpetual preferred stock$0
Common stock$251
Undivided profits $7,297
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 $250
Earning assets $0
Long-term assets (5+ years) $252
Average Assets, year-to-date $78,163
Average Assets, quarterly $9,888
Volatile liabilities $82,931
Insider loans $85,619
FHLB advances $61,900
Loans and leases held for sale $87,621
Unused loan commitments $94
Tier 1 (core) risk-based capital $94
Tier 2 risk-based capital $8,219
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,652
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,418
Total interest expense $475
Net interest income $3,943
Provision for loan and lease losses $100
Total noninterest income $329
Fiduciary activities $0
Service charges on deposit accounts $144
Trading account gains & fees $0
Additional noninterest income $185
Total noninterest expense $3,024
Salaries and employee benefits $1,697
Premises and equipment expense $401
Additional noninterest expense $926
Pre-tax net operating income $1,148
Securities gains (losses) -$19
Applicable income taxes $2
Income before extraordinary items $1,127
Extraordinary gains - net $0
Net income attributable to bank $1,127
Net charge-offs $0
Cash dividends $1,127
Sale, conversion, retirement of capital stock, net $89
Net operating income $909
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.72%
Cost of funding earning assets 0.61%
Net interest margin 5.10%
Noninterest income to earning assets 0.43%
Noninterest expense to earning assets 3.91%
Net operating income to assets 1.38%
Return on assets (ROA) 1.36%
Pretax return on assets 1.36%
Return on equity (ROE) 13.59%
Retained earnings to average equity (YTD only) 2.63%
Net charge-offs to loans 0.14%
Credit loss provision to net charge-offs 112.36%
Efficiency ratio14.02%
Assets per employee$70,787
Cash dividends to net income (YTD only)3.43%
Condition Ratios (%)
Loss allowance to loans 80.66%
Loss allowance to noncurrent loans 1.01%
Noncurrent assets plus other real estate owned to assets 254.40%
Noncurrent loans to loans 0.38%
Net loans and leases to deposits0.40%
Net loans and leases to core deposits 86.86%
Equity capital to assets 92.06%
Core capital (leverage) ratio 9.84%
Tier 1 risk-based capital ratio 9.38%
Total risk-based capital ratio 13.28%
Average assets$14
Average earning assets$82,931
Average equity $8,293
Average loans $77,253
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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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