Ultima Bank Minnesota in Winger, Minnesota (MN)
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| Ultima Bank Minnesota | |
|---|---|
| General | FDIC Certificate #: 8867 Status: Active Federal Reserve ID: 225157 Bank Holding Company (Regulatory Top Holder): Financial Services Of Winger, Inc. (RSSDID: 1127276, Location: Winger, MN) Date Established: January 01, 1904 WWW: http://www.ultimabank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 5661 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 01, 1934 Last Structure Change Effective Date: March 19, 2011 Last Structure Change Process Date: April 11, 2011 Last Data Update: April 11, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 9 W Minnesota Ave, Winger, MN 56592 County: Polk Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Grand Forks Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Grand Forks, ND-MN (#2985) Core Based Statistical Area (CBSA): Grand Forks, ND-MN (#24220) CBSA Metro Statistical Area: Grand Forks, ND-MN (#24220) |
| History of Changes | Office Purchased |
| Financial Summary | Total assets: $123.8 mil Equity capital: $10.6 mil Deposits held in domestic offices: $111.8 mil Return on assets (ROA): 2.25% ($2.8 mil) Quarterly return on assets: 2.56% ($3.2 mil) Return on Equity (ROE): 24.38% ($2.7 mil) Quarterly return on equity: 29.16% ($3.2 mil) Net income: $2.6 mil Quarterly Net income: $0.8 mil Pretax return on assets: 2.25% ($2,786.5 mil) Quarterly Pretax return on assets: 2.56% ($3,170.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 32 |
| Total assets | $123,845 |
| Cash and due from depository institutions | $5,804 |
| Interest-bearing balances | $67 |
| Securities | $55 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $114,104 |
| Loan loss allowance | $1,342 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,306 |
| Other real estate owned | $450 |
| Goodwill and other intangibles | $143 |
| All other assets | $1,983 |
| Life insurance assets | $123,845 |
| Total liabilities and capital | $113,262 |
| Total liabilities | $111,792 |
| Total deposits | $97,274 |
| Interest-bearing deposits | $111,792 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,470 |
| All other liabilities | $10,583 |
| Total equity capital | $10,583 |
| Total bank equity capital | $10,583 |
| Perpetual preferred stock | $0 |
| Common stock | $50 |
| Surplus | $8,681 |
| Undivided profits | $1,852 |
| Memoranda | |
| 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 | $2,116 |
| Earning assets | $646 |
| Long-term assets (5+ years) | $1,209 |
| Average Assets, year-to-date | $114,226 |
| Average Assets, quarterly | $21,442 |
| Volatile liabilities | $114,082 |
| Insider loans | $122,147 |
| FHLB advances | $101,318 |
| Loans and leases held for sale | $122,075 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $10,440 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $17,470 |
| Derivatives | $1,127 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $6,646 |
| Total interest expense | $971 |
| Net interest income | $5,675 |
| Provision for loan and lease losses | $200 |
| Total noninterest income | $608 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $454 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $154 |
| Total noninterest expense | $3,511 |
| Salaries and employee benefits | $2,053 |
| Premises and equipment expense | $545 |
| Additional noninterest expense | $913 |
| Pre-tax net operating income | $2,572 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $2,570 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,570 |
| Net charge-offs | $0 |
| Cash dividends | $2,570 |
| Sale, conversion, retirement of capital stock, net | $243 |
| Net operating income | $2,649 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 6.29% |
| Cost of funding earning assets | 0.92% |
| Net interest margin | 5.37% |
| Noninterest income to earning assets | 0.58% |
| Noninterest expense to earning assets | 3.32% |
| Net operating income to assets | 2.25% |
| Return on assets (ROA) | 2.25% |
| Pretax return on assets | 2.25% |
| Return on equity (ROE) | 24.38% |
| Retained earnings to average equity (YTD only) | -0.75% |
| Net charge-offs to loans | 0.23% |
| Credit loss provision to net charge-offs | 82.30% |
| Efficiency ratio | 11.41% |
| Assets per employee | $55,690 |
| Cash dividends to net income (YTD only) | 3.87% |
| Condition Ratios (%) | |
| Loss allowance to loans | 103.07% |
| Loss allowance to noncurrent loans | 1.16% |
| Noncurrent assets plus other real estate owned to assets | 63.42% |
| Noncurrent loans to loans | 2.07% |
| Net loans and leases to deposits | 1.83% |
| Net loans and leases to core deposits | 102.07% |
| Equity capital to assets | 113.94% |
| Core capital (leverage) ratio | 8.55% |
| Tier 1 risk-based capital ratio | 8.55% |
| Total risk-based capital ratio | 10.30% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $114,082 |
| Average equity | $10,540 |
| Average loans | $105,655 |
| 3 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5661 | Ultima Bank Minnesota | 9 W Minnesota Ave, Winger, MN 56592 | January 01, 1904 | Full Service Brick and Mortar |  |
| 1 | 219070 | Fosston Branch | 603 Hilligoss Boulevard, Fosston, MN 56542 | August 04, 1994 | Full Service Brick and Mortar |  |
| 2 | 360582 | Plummer Branch | 101 Central Ave E, Plummer, MN 56748 | June 07, 2001 | Full Service Brick and Mortar | |
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