The State Bank in Spirit Lake, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • The State Bank in Spirit Lake, Iowa (IA)
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The State Bank - Overview

  • General
  • FDIC Certificate #: 13715
    Status: Active
    Federal Reserve ID: 550448
    Bank Holding Company (Regulatory Top Holder): State Banco. Ltd., (RSSDID: 1245200, Location: Spirit Lake, IA)
    Date Established: October 05, 1928
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 12931
    FDIC's unique #: 8573
    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: January 20, 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: 1902 Hill Avenue, Spirit Lake, IA 51360
    County: Dickinson
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Core Based Statistical Area (CBSA): Spirit Lake, IA (#44020)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $62.0 mil
    Equity capital: $7.5 mil
    Deposits held in domestic offices: $54.3 mil
    Return on assets (ROA): 0.39% ($0.2 mil)
    Quarterly return on assets: -0.99% (-$0.6 mil)
    Return on Equity (ROE): 3.34% ($0.2 mil)
    Quarterly return on equity: -8.13% (-$0.6 mil)
    Net income: $0.2 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: 0.39% ($241.9 mil)
    Quarterly Pretax return on assets: -1.06% (-$657.5 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
  • 15Total employees (full-time equivalent)
  • $62,029Total assets
  • $2,050Cash and due from depository institutions
  • $514Interest-bearing balances
  • $22,838Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $32,746Net loans & leases
  • $1,294Loan loss allowance
  • $0Trading account assets
  • $2,840Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $62,029Life insurance assets
  • $1,555All other assets
  • $54,548Total liabilities and capital
  • $54,329Total liabilities
  • $47,195Total deposits
  • $54,329Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $47Trading liabilities
  • $0Other borrowed funds
  • $172Subordinated debt
  • $7,481All other liabilities
  • $7,481Total equity capital
  • $7,481Total bank equity capital
  • $0Perpetual preferred stock
  • $200Common stock
  • $800Surplus
  • $6,481Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $197Income earned, not collected on loans
  • $0Earning assets
  • $614Long-term assets (5+ years)
  • $56,098Average Assets, year-to-date
  • $16,087Average Assets, quarterly
  • $61,185Volatile liabilities
  • $62,512Insider loans
  • $37,187FHLB advances
  • $62,703Loans and leases held for sale
  • $675Unused loan commitments
  • $675Tier 1 (core) risk-based capital
  • $6,753Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,470Restructured Loans and leases
  • $279Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,649Total interest income
  • $420Total interest expense
  • $2,229Net interest income
  • $656Provision for loan and lease losses
  • $176Total noninterest income
  • $0Fiduciary activities
  • $104Service charges on deposit accounts
  • $0Trading account gains & fees
  • $72Additional noninterest income
  • $1,627Total noninterest expense
  • $922Salaries and employee benefits
  • $380Premises and equipment expense
  • $325Additional noninterest expense
  • $122Pre-tax net operating income
  • $118Securities gains (losses)
  • -$1Applicable income taxes
  • $241Income before extraordinary items
  • $0Extraordinary gains - net
  • $241Net income attributable to bank
  • $0Net charge-offs
  • $241Cash dividends
  • $166Sale, conversion, retirement of capital stock, net
  • $237Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.79%Yield on earning assets
  • 0.76%Cost of funding earning assets
  • 4.03%Net interest margin
  • 0.32%Noninterest income to earning assets
  • 2.94%Noninterest expense to earning assets
  • 0.20%Net operating income to assets
  • 0.39%Return on assets (ROA)
  • 0.39%Pretax return on assets
  • 3.34%Return on equity (ROE)
  • 0.06%Retained earnings to average equity (YTD only)
  • 0.47%Net charge-offs to loans
  • 395.18%Credit loss provision to net charge-offs
  • 4.69%Efficiency ratio
  • 67,651Assets per employee
  • 4.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 98.34%Loss allowance to loans
  • 3.80%Loss allowance to noncurrent loans
  • 656.85%Noncurrent assets plus other real estate owned to assets
  • 0.32%Noncurrent loans to loans
  • 0.58%Net loans and leases to deposits
  • 60.27%Net loans and leases to core deposits
  • 68.28%Equity capital to assets
  • 12.06%Core capital (leverage) ratio
  • 10.77%Tier 1 risk-based capital ratio
  • 18.16%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $61,185Average earning assets
  • $7,207Average equity
  • $55,335Average 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
  • $116Managed Assets
  • 1Number 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
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 27Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $116Other retirement accounts
  • $116Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 2 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08573The State Bank1902 Hill Avenue, Spirit Lake, IA 51360October 05, 1928Full Service Brick and Mortar
    1229897Terril Branch101 North State Street, Terril, IA 51364Febuary 23, 1965Full Service Brick and Mortar

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