Venture Bank in Bloomington, Minnesota (MN)



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Venture Bank
GeneralFDIC Certificate #: 57249
Status: Active
Federal Reserve ID: 3049699
Bank Holding Company (Regulatory Top Holder): Venture Bancshares, Inc. (RSSDID: 3049680, Location: Bloomington, MN)
Date Established: November 26, 2001
WWW: http://www.venturebankonline.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 #: 360126
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: November 26, 2001
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: 5601 Green Valley Drive, Suite 120, Bloomington, MN 55437
County: Hennepin
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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $319.9 mil
Equity capital: $27.0 mil
Deposits held in domestic offices: $291.2 mil
Return on assets (ROA): 2.08% ($6.7 mil)
Quarterly return on assets: 1.50% ($4.8 mil)
Return on Equity (ROE): 23.71% ($6.4 mil)
Quarterly return on equity: 17.72% ($4.8 mil)
Net income: $6.0 mil
Quarterly Net income: $1.2 mil
Pretax return on assets: 2.08% ($6,654.4 mil)
Quarterly Pretax return on assets: 1.50% ($4,798.8 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)68
Total assets$319,923
Cash and due from depository institutions$20,156
Interest-bearing balances$11,599
Securities$32,672
Federal funds sold & reverse repurchase agreements$3,015
Net loans & leases$253,499
Loan loss allowance $5,000
Trading account assets$0
Bank premises and fixed assets$7,068
Other real estate owned$460
Goodwill and other intangibles$491
All other assets$2,562
Life insurance assets$319,923
Total liabilities and capital$292,932
Total liabilities$291,238
Total deposits$170,190
Interest-bearing deposits$291,238
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,694
All other liabilities $26,991
Total equity capital$26,991
Total bank equity capital$26,991
Perpetual preferred stock$0
Common stock$650
Surplus$21,850
Undivided profits $4,491
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,424
Income earned, not collected on loans $867
Earning assets $767
Long-term assets (5+ years) $1,167
Average Assets, year-to-date $300,785
Average Assets, quarterly $39,633
Volatile liabilities $288,336
Insider loans $315,736
FHLB advances $270,309
Loans and leases held for sale $323,039
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $26,372
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $74,061
Derivatives$8,498
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,777
Total interest expense $2,030
Net interest income $13,747
Provision for loan and lease losses $1,297
Total noninterest income $2,593
Fiduciary activities $0
Service charges on deposit accounts $1,162
Trading account gains & fees $0
Additional noninterest income $1,431
Total noninterest expense $9,073
Salaries and employee benefits $5,699
Premises and equipment expense $1,297
Additional noninterest expense $2,077
Pre-tax net operating income $5,970
Securities gains (losses) $36
Applicable income taxes $5
Income before extraordinary items $6,001
Extraordinary gains - net $0
Net income attributable to bank $6,001
Net charge-offs $0
Cash dividends $6,001
Sale, conversion, retirement of capital stock, net $1,697
Net operating income $3,029
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.77%
Cost of funding earning assets 0.74%
Net interest margin 5.03%
Noninterest income to earning assets 0.95%
Noninterest expense to earning assets 3.32%
Net operating income to assets 2.07%
Return on assets (ROA) 2.08%
Pretax return on assets 2.08%
Return on equity (ROE) 23.71%
Retained earnings to average equity (YTD only) 11.74%
Net charge-offs to loans 0.73%
Credit loss provision to net charge-offs 76.43%
Efficiency ratio4.28%
Assets per employee$55,526
Cash dividends to net income (YTD only)4.70%
Condition Ratios (%)
Loss allowance to loans 50.47%
Loss allowance to noncurrent loans 1.93%
Noncurrent assets plus other real estate owned to assets 576.70%
Noncurrent loans to loans 0.41%
Net loans and leases to deposits0.34%
Net loans and leases to core deposits 87.04%
Equity capital to assets 100.00%
Core capital (leverage) ratio 8.44%
Tier 1 risk-based capital ratio 8.16%
Total risk-based capital ratio 9.76%
Memoranda
Average assets$11
Average earning assets$288,336
Average equity $25,308
Average loans $273,460
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0360126Venture Bank5601 Green Valley Drive, Suite 120, Bloomington, MN 55437November 26, 2001Full Service Brick and Mortar
1428111Golden Valley Branch6210 Wayzata Boulevard, Golden Valley, MN 55416May 05, 2004Full Service Brick and Mortar
2466397Eagan Branch2640 Eagan Woods Drive, Eagan, MN 55121November 15, 2006Full Service Brick and Mortar
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