Ultima Bank Minnesota in Winger, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


Ultima Bank Minnesota - Overview

  • 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)

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
  • 32Total employees (full-time equivalent)
  • $123,845Total assets
  • $5,804Cash and due from depository institutions
  • $67Interest-bearing balances
  • $55Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $114,104Net loans & leases
  • $1,342Loan loss allowance
  • $0Trading account assets
  • $1,306Bank premises and fixed assets
  • $450Other real estate owned
  • $143Goodwill and other intangibles
  • $123,845Life insurance assets
  • $1,983All other assets
  • $113,262Total liabilities and capital
  • $111,792Total liabilities
  • $97,274Total deposits
  • $111,792Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,470Subordinated debt
  • $10,583All other liabilities
  • $10,583Total equity capital
  • $10,583Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $8,681Surplus
  • $1,852Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,116Income earned, not collected on loans
  • $646Earning assets
  • $1,209Long-term assets (5+ years)
  • $114,226Average Assets, year-to-date
  • $21,442Average Assets, quarterly
  • $114,082Volatile liabilities
  • $122,147Insider loans
  • $101,318FHLB advances
  • $122,075Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,440Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $17,470Restructured Loans and leases
  • $1,127Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,646Total interest income
  • $971Total interest expense
  • $5,675Net interest income
  • $200Provision for loan and lease losses
  • $608Total noninterest income
  • $0Fiduciary activities
  • $454Service charges on deposit accounts
  • $0Trading account gains & fees
  • $154Additional noninterest income
  • $3,511Total noninterest expense
  • $2,053Salaries and employee benefits
  • $545Premises and equipment expense
  • $913Additional noninterest expense
  • $2,572Pre-tax net operating income
  • $0Securities gains (losses)
  • $2Applicable income taxes
  • $2,570Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,570Net income attributable to bank
  • $0Net charge-offs
  • $2,570Cash dividends
  • $243Sale, conversion, retirement of capital stock, net
  • $2,649Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.29%Yield on earning assets
  • 0.92%Cost of funding earning assets
  • 5.37%Net interest margin
  • 0.58%Noninterest income to earning assets
  • 3.32%Noninterest expense to earning assets
  • 2.25%Net operating income to assets
  • 2.25%Return on assets (ROA)
  • 2.25%Pretax return on assets
  • 24.38%Return on equity (ROE)
  • -0.75%Retained earnings to average equity (YTD only)
  • 0.23%Net charge-offs to loans
  • 82.30%Credit loss provision to net charge-offs
  • 11.41%Efficiency ratio
  • 55,690Assets per employee
  • 3.87%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 103.07%Loss allowance to loans
  • 1.16%Loss allowance to noncurrent loans
  • 63.42%Noncurrent assets plus other real estate owned to assets
  • 2.07%Noncurrent loans to loans
  • 1.83%Net loans and leases to deposits
  • 102.07%Net loans and leases to core deposits
  • 113.94%Equity capital to assets
  • 8.55%Core capital (leverage) ratio
  • 8.55%Tier 1 risk-based capital ratio
  • 10.30%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $114,082Average earning assets
  • $10,540Average equity
  • $105,655Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05661Ultima Bank Minnesota9 W Minnesota Ave, Winger, MN 56592January 01, 1904Full Service Brick and Mortar
    1219070Fosston Branch603 Hilligoss Boulevard, Fosston, MN 56542August 04, 1994Full Service Brick and Mortar
    2360582Plummer Branch101 Central Ave E, Plummer, MN 56748June 07, 2001Full Service Brick and Mortar

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