FDIC Certificate #: 10985 Status: Inactive Closing history: Corrections Acquiring institution:S&C Bank, Minnesota (#57076) Federal Reserve ID: 296652 Date Established: May 01, 1914 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 7037 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: July 14, 2000 Last Structure Change Process Date: July 20, 2000 Last Data Update: July 20, 2000 Data Source Date: April 05, 2012
Location
Address: Main Street, Almelund, MN 55002 County: Chisago 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): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $25.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1999)
Dollar figures in thousands
15Total employees (full-time equivalent)
$32,053Total assets
$1,364Cash and due from depository institutions
$50Interest-bearing balances
$4,492Securities
$1,930Federal funds sold & reverse repurchase agreements
$22,160Net loans & leases
$413Loan loss allowance
$0Trading account assets
$623Bank premises and fixed assets
$430Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,054All other assets
$32,053Total liabilities and capital
$29,988Total liabilities
$29,783Total deposits
$24,189Interest-bearing deposits
$29,783Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$205All other liabilities
$2,065Total equity capital
$2,065Total bank equity capital
$2,065Perpetual preferred stock
$0Common stock
$112Surplus
$1,988Undivided profits
Memoranda
$-35Noncurrent loans and leases
$612Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$352Earning assets
$0Long-term assets (5+ years)
$240Average Assets, year-to-date
$28,632Average Assets, quarterly
$2,308Volatile liabilities
$30,173Insider loans
$31,506FHLB advances
$3,246Loans and leases held for sale
$177Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$612Total unused commitments
$0Restructured Loans and leases
$308Derivatives
Income and Expense (December 31, 1999)
Dollar figures in thousands
$2,257Total interest income
$940Total interest expense
$1,317Net interest income
$684Provision for loan and lease losses
$377Total noninterest income
$0Fiduciary activities
$263Service charges on deposit accounts
$0Trading account gains & fees
$114Additional noninterest income
$1,298Total noninterest expense
$733Salaries and employee benefits
$170Premises and equipment expense
$395Additional noninterest expense
-$288Pre-tax net operating income
$34Securities gains (losses)
-$89Applicable income taxes
-$165Income before extraordinary items
$0Extraordinary gains - net
-$165Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$565Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1999)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.39%Yield on earning assets
3.49%Cost of funding earning assets
4.89%Net interest margin
1.40%Noninterest income to earning assets
4.82%Noninterest expense to earning assets
-0.62%Net operating income to assets
-0.55%Return on assets (ROA)
-0.84%Pretax return on assets
-7.33%Return on equity (ROE)
-7.33%Retained earnings to average equity (YTD only)
2.53%Net charge-offs to loans
120.85%Credit loss provision to net charge-offs
0.70%Efficiency ratio
76,623Assets per employee
2.14%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.83%Loss allowance to noncurrent loans
117.33%Noncurrent assets plus other real estate owned to assets
2.44%Noncurrent loans to loans
1.56%Net loans and leases to deposits
74.40%Net loans and leases to core deposits
83.51%Equity capital to assets
6.44%Core capital (leverage) ratio
6.75%Tier 1 risk-based capital ratio
8.63%Total risk-based capital ratio
Memoranda
$10Average assets
$30,173Average earning assets
$2,252Average equity
$26,909Average loans
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