United Bank of Iowa in Ida Grove, Iowa (IA)

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United Bank of Iowa
GeneralFDIC Certificate #: 958
Status: Active
Federal Reserve ID: 738040
Bank Holding Company (Regulatory Top Holder): Ida Grove Bancshares, Inc. (RSSDID: 1205183, Location: Ida Grove, IA)
Date Established: Febuary 04, 1932
WWW: http://www.unitedbk.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 25 (Domestic: 25, Interstate: No)
OTS Docket #: 9909
FDIC's unique #: 626
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: December 18, 2010
Last Structure Change Process Date: January 04, 2011
Last Data Update: January 04, 2011
Data Source Date: April 05, 2012
LocationAddress: 501-7 2nd Street, Ida Grove, IA 51445
County: Ida
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $1,153.6 mil
Equity capital: $114.4 mil
Deposits held in domestic offices: $906.0 mil
Return on assets (ROA): 1.87% ($21.6 mil)
Quarterly return on assets: 1.84% ($21.2 mil)
Return on Equity (ROE): 19.48% ($22.2 mil)
Quarterly return on equity: 18.68% ($21.3 mil)
Net income: $21.3 mil
Quarterly Net income: $5.3 mil
Pretax return on assets: 1.96% ($22,609.6 mil)
Quarterly Pretax return on assets: 1.90% ($21,917.5 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)227
Total assets$1,153,551
Cash and due from depository institutions$106,118
Interest-bearing balances$84,869
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$924,415
Loan loss allowance $13,556
Trading account assets$0
Bank premises and fixed assets$17,343
Other real estate owned$942
Goodwill and other intangibles$8,482
All other assets$39,586
Life insurance assets$1,153,551
Total liabilities and capital$1,039,189
Total liabilities$905,988
Total deposits$808,088
Interest-bearing deposits$905,988
Deposits held in domestic offices$93
% insured (estimated)23995.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$103,850
Other borrowed funds $0
Subordinated debt $5,356
All other liabilities $114,362
Total equity capital$114,362
Total bank equity capital$114,362
Perpetual preferred stock$0
Common stock$200
Undivided profits $81,671
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $9,941
Income earned, not collected on loans $6,638
Earning assets $266
Long-term assets (5+ years) $14,436
Average Assets, year-to-date $1,065,949
Average Assets, quarterly $222,754
Volatile liabilities $1,134,624
Insider loans $1,147,995
FHLB advances $941,650
Loans and leases held for sale $1,147,546
Unused loan commitments $10,456
Tier 1 (core) risk-based capital $7,887
Tier 2 risk-based capital $106,799
Total risk weighted assets $0
Total unused commitments $2,569
Restructured Loans and leases $206,366
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $53,047
Total interest expense $14,764
Net interest income $38,283
Provision for loan and lease losses $2,762
Total noninterest income $7,559
Fiduciary activities $175
Service charges on deposit accounts $3,632
Trading account gains & fees $0
Additional noninterest income $3,752
Total noninterest expense $20,851
Salaries and employee benefits $13,285
Premises and equipment expense $2,206
Additional noninterest expense $5,360
Pre-tax net operating income $22,229
Securities gains (losses) $0
Applicable income taxes $956
Income before extraordinary items $21,273
Extraordinary gains - net $0
Net income attributable to bank $21,273
Net charge-offs $0
Cash dividends $21,273
Sale, conversion, retirement of capital stock, net $989
Net operating income $10,197
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.04%
Cost of funding earning assets 1.40%
Net interest margin 3.64%
Noninterest income to earning assets 0.72%
Noninterest expense to earning assets 1.98%
Net operating income to assets 1.87%
Return on assets (ROA) 1.87%
Pretax return on assets 1.96%
Return on equity (ROE) 19.48%
Retained earnings to average equity (YTD only) 10.14%
Net charge-offs to loans 0.11%
Credit loss provision to net charge-offs 279.27%
Efficiency ratio25.27%
Assets per employee$45,050
Cash dividends to net income (YTD only)5.08%
Condition Ratios (%)
Loss allowance to loans 47.93%
Loss allowance to noncurrent loans 1.45%
Noncurrent assets plus other real estate owned to assets 204.22%
Noncurrent loans to loans 0.66%
Net loans and leases to deposits0.71%
Net loans and leases to core deposits 102.03%
Equity capital to assets 110.85%
Core capital (leverage) ratio 9.91%
Tier 1 risk-based capital ratio 9.31%
Total risk-based capital ratio 11.34%
Average assets$13
Average earning assets$1,134,624
Average equity $109,218
Average loans $1,052,148
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$87,362
Number of Accounts1
Personal trust and agency accounts$85,756
Employee benefit-defined contribution accounts$85,756
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts98
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$1,606
Corporate trust and agency accounts$656
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$950
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25 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0626United Bank Of Iowa501-7 2nd Street, Ida Grove, IA 51445Febuary 04, 1932Full Service Brick and Mortar
1186743Arthur Branch109 West 3rd Avenue, Arthur, IA 51431April 01, 1961Full Service Brick and Mortar
346122Fort Dodge Branch1608 First Avenue South, Fort Dodge, IA 50501March 16, 1990Full Service Brick and Mortar
441826Denison Branch14th And Broadway, Denison, IA 51442July 01, 1934Full Service Brick and Mortar
5186744Ida Grove Drive-In Branch219 Main Street, Ida Grove, IA 51445March 06, 1993Limited Service Facility
632546Odebolt Branch301 Main Street, Odebolt, IA 51458April 26, 1985Full Service Brick and Mortar
7227067Kiron BranchGrove And Prairie Streets, Kiron, IA 51448October 20, 1980Limited Service Facility
8223069Charter Oak Branch12 Main Street, Charter Oak, IA 51439October 03, 1996Full Service Brick and Mortar
99875Carroll Branch609 North Clark Street, Carroll, IA 51401January 01, 1889Full Service Brick and Mortar
105951Rockwell City Branch417 - 4th Street, Rockwell City, IA 50579January 01, 1933Full Service Brick and Mortar
117437Lake City Branch201 North Center Street, Lake City, IA 51449March 20, 1920Full Service Brick and Mortar
12362142Churdan Branch600 Head Street, Churdan, IA 50050March 01, 2001Full Service Brick and Mortar
13366308Schleswig Branch31 2nd Street, Schleswig, IA 51461Febuary 14, 2003Full Service Brick and Mortar
14442553Harlan Branch1802 23rd Street, Harlan, IA 51537October 01, 2004Full Service Brick and Mortar
159428Glidden Branch121 Idaho St, Glidden, IA 51443January 01, 1877Full Service Brick and Mortar
169416Lohrville BranchSecond And Main, Lohrville, IA 51453January 01, 1902Full Service Brick and Mortar
17465924Storm Lake Branch1270 Lake Avenue, Storm Lake, IA 50588May 15, 2007Full Service Brick and Mortar
1855571Holstein Branch116 North Kiel Street, Holstein, IA 51025March 10, 1995Full Service Brick and Mortar
199640Galva BranchMain Street, Galva, IA 51020September 14, 1935Full Service Brick and Mortar
2081673Sac City Branch400 Morningside Road, Sac City, IA 50583June 29, 2000Full Service Brick and Mortar
216974Moville Branch120 South First Street, Moville, IA 51039January 01, 1890Full Service Brick and Mortar
229195Kingsley Branch101 East First Street, Kingsley, IA 51028December 08, 1908Full Service Brick and Mortar
23231955Pierson Branch201 Main Street, Pierson, IA 51048January 06, 1997Full Service Brick and Mortar
24628Moorhead Branch124 Oak Street, Moorhead, IA 51558April 10, 1900Full Service Brick and Mortar
25527711Dunlap Branch408 Hwy 30, Dunlap, IA 51529November 01, 2011Full Service Retail
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