Think Mutual Bank in Rochester, Minnesota (MN)

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Think Mutual Bank
GeneralFDIC Certificate #: 58536
Status: Active
Federal Reserve ID: 936583
Date Established: July 01, 2007
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 11 (Domestic: 11, Interstate: No)
OTS Docket #: 18037
FDIC's unique #: 455636
Numeric code: 34
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: 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: Mortgage Lending Specialization
Date of Deposit Insurance: July 01, 2007
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 5200 Members Parkway, Nw, Rochester, MN 55901
County: Olmsted
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): Rochester, MN (#6820)
Core Based Statistical Area (CBSA): Rochester, MN (#40340)
CBSA Metro Statistical Area: Rochester, MN (#40340)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $1,458.5 mil
Equity capital: $206.0 mil
Deposits held in domestic offices: $1,165.9 mil
Return on assets (ROA): 0.45% ($6.6 mil)
Quarterly return on assets: 0.46% ($6.7 mil)
Return on Equity (ROE): 3.25% ($6.7 mil)
Quarterly return on equity: 3.22% ($6.6 mil)
Net income: $6.6 mil
Quarterly Net income: $1.7 mil
Pretax return on assets: 0.76% ($11,084.7 mil)
Quarterly Pretax return on assets: 0.76% ($11,084.7 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)273
Total assets$1,458,515
Cash and due from depository institutions$29,805
Interest-bearing balances$20,291
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$839,663
Loan loss allowance $4,044
Trading account assets$0
Bank premises and fixed assets$41,772
Other real estate owned$0
Goodwill and other intangibles$2,510
All other assets$17,105
Life insurance assets$1,458,515
Total liabilities and capital$1,252,498
Total liabilities$1,165,949
Total deposits$1,116,867
Interest-bearing deposits$1,165,949
Deposits held in domestic offices$96
% insured (estimated)15000.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$60,000
Other borrowed funds $0
Subordinated debt $11,549
All other liabilities $206,017
Total equity capital$206,017
Total bank equity capital$206,017
Perpetual preferred stock$0
Common stock$0
Undivided profits $206,017
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 $4,360
Earning assets $0
Long-term assets (5+ years) $3,698
Average Assets, year-to-date $1,387,614
Average Assets, quarterly $0
Volatile liabilities $1,447,432
Insider loans $1,448,489
FHLB advances $697,413
Loans and leases held for sale $1,448,644
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $198,554
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $308,761
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $55,110
Total interest expense $12,646
Net interest income $42,464
Provision for loan and lease losses $2,104
Total noninterest income $12,435
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $12,435
Total noninterest expense $41,843
Salaries and employee benefits $23,092
Premises and equipment expense $11,446
Additional noninterest expense $7,305
Pre-tax net operating income $10,952
Securities gains (losses) $0
Applicable income taxes $4,374
Income before extraordinary items $6,578
Extraordinary gains - net $0
Net income attributable to bank $6,578
Net charge-offs $0
Cash dividends $6,578
Sale, conversion, retirement of capital stock, net $1,484
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 assets4.01%
Cost of funding earning assets 0.92%
Net interest margin 3.09%
Noninterest income to earning assets 0.90%
Noninterest expense to earning assets 3.04%
Net operating income to assets 0.45%
Return on assets (ROA) 0.45%
Pretax return on assets 0.76%
Return on equity (ROE) 3.25%
Retained earnings to average equity (YTD only) 3.25%
Net charge-offs to loans 0.17%
Credit loss provision to net charge-offs 141.78%
Efficiency ratio8.80%
Assets per employee$75,912
Cash dividends to net income (YTD only)5.34%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.48%
Noncurrent assets plus other real estate owned to assets 92.75%
Noncurrent loans to loans 0.30%
Net loans and leases to deposits0.52%
Net loans and leases to core deposits 72.02%
Equity capital to assets 72.56%
Core capital (leverage) ratio 14.13%
Tier 1 risk-based capital ratio 13.71%
Total risk-based capital ratio 28.47%
Average assets$29
Average earning assets$1,447,432
Average equity $202,164
Average loans $1,374,843
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11 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0455636Think Mutual Bank5200 Members Parkway, Nw, Rochester, MN 55901July 01, 2007Full Service Brick and Mortar
1492604Rochester Branch5201 Members Pkwy Nw, Rochester, MN 55901July 01, 2007Full Service Brick and Mortar
2492605West River Pkwy Branch4001 West River Pkwy Nw, Rochester, MN 55901July 01, 2007Full Service Brick and Mortar
3492606Green Meadows Branch1698 Greenview Drive Sw, Rochester, MN 55901July 01, 2007Full Service Brick and Mortar
4492607Rochester Downtown Branch25 2nd St Sw, Rochester, MN 55902July 01, 2007Full Service Brick and Mortar
5492608Ibm Plant Branch3605 Hwy 52 North, Rochester, MN 55901July 01, 2007Full Service Brick and Mortar
6492609Shoppes On Maine Branch4638 Maine Avenue Se, Rochester, MN 55904June 26, 2008Full Service Brick and Mortar
7492610St. Paul Branch400 Robert St N, Saint Paul, MN 55101July 01, 2007Full Service Brick and Mortar
8492611Edina Branch6868 France Ave South, Edina, MN 55435July 01, 2007Full Service Brick and Mortar
11522004Eagan Branch4245 Johnny Cake Ridge Rd, Eagan, MN 55122January 13, 2011Full Service Brick and Mortar
12522005Apple Valley Branch15751 Emperor Ave, Apple Valley, MN 55124January 13, 2011Full Service Brick and Mortar
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