The State Bank of Faribault in Faribault, Minnesota (MN)

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The State Bank of Faribault
GeneralFDIC Certificate #: 1610
Status: Active
Federal Reserve ID: 46053
Bank Holding Company (Regulatory Top Holder): Faribault Bancshares, Inc. (RSSDID: 1126158, Location: Faribault, MN)
Date Established: November 14, 1919
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 12721
FDIC's unique #: 1053
Numeric code: 21
Regulator: FDIC
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: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 14, 2009
Last Structure Change Process Date: December 16, 2009
Last Data Update: December 16, 2009
Data Source Date: April 05, 2012
LocationAddress: 428 Central Avenue, Faribault, MN 55021
County: Rice
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
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): Faribault-Northfield, MN (#22060)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $182.5 mil
Equity capital: $21.8 mil
Deposits held in domestic offices: $159.9 mil
Return on assets (ROA): 0.57% ($1.0 mil)
Quarterly return on assets: 0.07% ($0.1 mil)
Return on Equity (ROE): 4.96% ($1.1 mil)
Quarterly return on equity: 0.62% ($0.1 mil)
Net income: $1.0 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.57% ($1,040.1 mil)
Quarterly Pretax return on assets: 0.07% ($127.7 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)46
Total assets$182,478
Cash and due from depository institutions$9,118
Interest-bearing balances$2,721
Federal funds sold & reverse repurchase agreements$3,295
Net loans & leases$85,457
Loan loss allowance $1,899
Trading account assets$0
Bank premises and fixed assets$7,357
Other real estate owned$2,229
Goodwill and other intangibles$0
All other assets$5,342
Life insurance assets$182,478
Total liabilities and capital$160,719
Total liabilities$159,868
Total deposits$138,366
Interest-bearing deposits$159,868
Deposits held in domestic offices$80
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $851
All other liabilities $21,759
Total equity capital$21,759
Total bank equity capital$21,759
Perpetual preferred stock$0
Common stock$1,000
Undivided profits $13,759
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 $305
Earning assets $0
Long-term assets (5+ years) $811
Average Assets, year-to-date $161,153
Average Assets, quarterly $67,961
Volatile liabilities $182,236
Insider loans $184,983
FHLB advances $130,023
Loans and leases held for sale $184,447
Unused loan commitments $1,615
Tier 1 (core) risk-based capital $1,615
Tier 2 risk-based capital $19,715
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $18,190
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,674
Total interest expense $1,595
Net interest income $6,079
Provision for loan and lease losses $798
Total noninterest income $1,428
Fiduciary activities $0
Service charges on deposit accounts $603
Trading account gains & fees $0
Additional noninterest income $825
Total noninterest expense $5,851
Salaries and employee benefits $3,331
Premises and equipment expense $877
Additional noninterest expense $1,643
Pre-tax net operating income $858
Securities gains (losses) $177
Applicable income taxes $5
Income before extraordinary items $1,030
Extraordinary gains - net $0
Net income attributable to bank $1,030
Net charge-offs $0
Cash dividends $1,030
Sale, conversion, retirement of capital stock, net $982
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.78%
Cost of funding earning assets 0.99%
Net interest margin 3.78%
Noninterest income to earning assets 0.89%
Noninterest expense to earning assets 3.64%
Net operating income to assets 0.47%
Return on assets (ROA) 0.57%
Pretax return on assets 0.57%
Return on equity (ROE) 4.96%
Retained earnings to average equity (YTD only) 4.96%
Net charge-offs to loans 1.13%
Credit loss provision to net charge-offs 81.26%
Efficiency ratio1.69%
Assets per employee$77,941
Cash dividends to net income (YTD only)3.97%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.17%
Noncurrent assets plus other real estate owned to assets 622.62%
Noncurrent loans to loans 1.39%
Net loans and leases to deposits0.35%
Net loans and leases to core deposits 53.45%
Equity capital to assets 57.73%
Core capital (leverage) ratio 11.92%
Tier 1 risk-based capital ratio 10.69%
Total risk-based capital ratio 15.16%
Average assets$16
Average earning assets$182,236
Average equity $20,760
Average loans $160,648
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01053The State Bank Of Faribault428 Central Avenue, Faribault, MN 55021November 14, 1919Full Service Brick and Mortar
1189906Faribault Branch202 Western Avenue, Faribault, MN 55021November 26, 1991Full Service Brick and Mortar
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