Unity Bank North in Red Lake Falls, Minnesota (MN)



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Unity Bank North
GeneralFDIC Certificate #: 8202
Status: Active
Federal Reserve ID: 732459
Bank Holding Company (Regulatory Top Holder): Caprice Corporation (RSSDID: 1123700, Location: Augusta, WI)
Date Established: January 01, 1929
WWW: http://www.unitybanking.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 5228
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 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 210 Main Street, Red Lake Falls, MN 56750
County: Red Lake
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
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $75.0 mil
Equity capital: $7.7 mil
Deposits held in domestic offices: $66.4 mil
Return on assets (ROA): 1.30% ($1.0 mil)
Quarterly return on assets: 1.54% ($1.2 mil)
Return on Equity (ROE): 12.74% ($1.0 mil)
Quarterly return on equity: 14.80% ($1.2 mil)
Net income: $1.0 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.30% ($974.4 mil)
Quarterly Pretax return on assets: 1.54% ($1,154.3 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)20
Total assets$74,955
Cash and due from depository institutions$10,505
Interest-bearing balances$6,426
Securities$8,028
Federal funds sold & reverse repurchase agreements$2,130
Net loans & leases$51,452
Loan loss allowance $721
Trading account assets$0
Bank premises and fixed assets$247
Other real estate owned$58
Goodwill and other intangibles$0
All other assets$2,535
Life insurance assets$74,955
Total liabilities and capital$67,225
Total liabilities$66,390
Total deposits$57,677
Interest-bearing deposits$66,390
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$49
Other borrowed funds $0
Subordinated debt $786
All other liabilities $7,730
Total equity capital$7,730
Total bank equity capital$7,730
Perpetual preferred stock$0
Common stock$200
Surplus$4,800
Undivided profits $2,730
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 $349
Earning assets $0
Long-term assets (5+ years) $629
Average Assets, year-to-date $68,036
Average Assets, quarterly $3,029
Volatile liabilities $73,534
Insider loans $73,561
FHLB advances $51,234
Loans and leases held for sale $74,610
Unused loan commitments $1,414
Tier 1 (core) risk-based capital $1,414
Tier 2 risk-based capital $7,693
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,656
Derivatives$1,843
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,452
Total interest expense $553
Net interest income $2,899
Provision for loan and lease losses $100
Total noninterest income $1,246
Fiduciary activities $0
Service charges on deposit accounts $178
Trading account gains & fees $0
Additional noninterest income $1,068
Total noninterest expense $3,076
Salaries and employee benefits $1,669
Premises and equipment expense $285
Additional noninterest expense $1,122
Pre-tax net operating income $969
Securities gains (losses) $0
Applicable income taxes $1
Income before extraordinary items $968
Extraordinary gains - net -$10
Net income attributable to bank $958
Net charge-offs $0
Cash dividends $958
Sale, conversion, retirement of capital stock, net $47
Net operating income $844
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.06%
Cost of funding earning assets 0.81%
Net interest margin 4.25%
Noninterest income to earning assets 1.83%
Noninterest expense to earning assets 4.51%
Net operating income to assets 1.32%
Return on assets (ROA) 1.30%
Pretax return on assets 1.30%
Return on equity (ROE) 12.74%
Retained earnings to average equity (YTD only) 1.52%
Net charge-offs to loans 0.09%
Credit loss provision to net charge-offs 212.77%
Efficiency ratio22.74%
Assets per employee$74,210
Cash dividends to net income (YTD only)3.75%
Condition Ratios (%)
Loss allowance to loans 88.10%
Loss allowance to noncurrent loans 1.38%
Noncurrent assets plus other real estate owned to assets 206.59%
Noncurrent loans to loans 0.54%
Net loans and leases to deposits0.67%
Net loans and leases to core deposits 77.50%
Equity capital to assets 83.66%
Core capital (leverage) ratio 10.31%
Tier 1 risk-based capital ratio 10.31%
Total risk-based capital ratio 15.02%
Memoranda
Average assets$16
Average earning assets$73,534
Average equity $7,517
Average loans $68,192
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2 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05228Unity Bank North210 Main Street, Red Lake Falls, MN 56750January 01, 1929Full Service Brick and Mortar
2218120Detached FacilityThird And Garfield Streets, Mentor, MN 56736September 24, 1979Limited Service Facility
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