Vermillion State Bank in Vermillion, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Vermillion State Bank in Vermillion, Minnesota (MN)
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Vermillion State Bank - Overview

  • General
  • FDIC Certificate #: 10214
    Status: Active
    Federal Reserve ID: 208057
    Bank Holding Company (Regulatory Top Holder): Vermillion Bancshares, Inc. (RSSDID: 1128581, Location: Vermillion, MN)
    Date Established: August 10, 1918
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 15483
    FDIC's unique #: 6552
    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: January 01, 1934
    Last Structure Change Effective Date: April 19, 2011
    Last Structure Change Process Date: April 20, 2011
    Last Data Update: April 20, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 107 E Main St., Vermillion, MN 55085
    County: Dakota
    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)
  • Financial Summary
  • Total assets: $489.0 mil
    Equity capital: $60.2 mil
    Deposits held in domestic offices: $421.7 mil
    Return on assets (ROA): 1.92% ($9.4 mil)
    Quarterly return on assets: 1.59% ($7.8 mil)
    Return on Equity (ROE): 16.00% ($9.6 mil)
    Quarterly return on equity: 13.01% ($7.8 mil)
    Net income: $9.3 mil
    Quarterly Net income: $1.9 mil
    Pretax return on assets: 1.92% ($9,387.9 mil)
    Quarterly Pretax return on assets: 1.59% ($7,774.4 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
  • 45Total employees (full-time equivalent)
  • $488,953Total assets
  • $5,843Cash and due from depository institutions
  • $175Interest-bearing balances
  • $185,676Securities
  • $3,315Federal funds sold & reverse repurchase agreements
  • $285,733Net loans & leases
  • $7,620Loan loss allowance
  • $0Trading account assets
  • $1,701Bank premises and fixed assets
  • $1,011Other real estate owned
  • $0Goodwill and other intangibles
  • $488,953Life insurance assets
  • $5,674All other assets
  • $428,719Total liabilities and capital
  • $421,701Total liabilities
  • $371,999Total deposits
  • $421,701Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,000Trading liabilities
  • $0Other borrowed funds
  • $1,018Subordinated debt
  • $60,234All other liabilities
  • $60,234Total equity capital
  • $60,234Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $21,950Surplus
  • $38,234Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,347Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,766Income earned, not collected on loans
  • $30Earning assets
  • $2,299Long-term assets (5+ years)
  • $474,899Average Assets, year-to-date
  • $103,601Average Assets, quarterly
  • $486,396Volatile liabilities
  • $491,208Insider loans
  • $324,685FHLB advances
  • $495,584Loans and leases held for sale
  • $952Unused loan commitments
  • $952Tier 1 (core) risk-based capital
  • $58,287Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $23,793Restructured Loans and leases
  • $929Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,936Total interest income
  • $5,094Total interest expense
  • $16,842Net interest income
  • $3,800Provision for loan and lease losses
  • $2,022Total noninterest income
  • $0Fiduciary activities
  • $628Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,394Additional noninterest income
  • $5,798Total noninterest expense
  • $3,330Salaries and employee benefits
  • $490Premises and equipment expense
  • $1,978Additional noninterest expense
  • $9,266Pre-tax net operating income
  • $76Securities gains (losses)
  • $0Applicable income taxes
  • $9,342Income before extraordinary items
  • $0Extraordinary gains - net
  • $9,342Net income attributable to bank
  • $0Net charge-offs
  • $9,342Cash dividends
  • $1,420Sale, conversion, retirement of capital stock, net
  • $7,032Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.64%Yield on earning assets
  • 1.08%Cost of funding earning assets
  • 3.56%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 1.23%Noninterest expense to earning assets
  • 1.91%Net operating income to assets
  • 1.92%Return on assets (ROA)
  • 1.92%Pretax return on assets
  • 16.00%Return on equity (ROE)
  • 3.96%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 267.61%Credit loss provision to net charge-offs
  • 9.20%Efficiency ratio
  • 30,736Assets per employee
  • 10.87%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 75.27%Loss allowance to loans
  • 2.60%Loss allowance to noncurrent loans
  • 275.49%Noncurrent assets plus other real estate owned to assets
  • 0.77%Noncurrent loans to loans
  • 0.94%Net loans and leases to deposits
  • 67.76%Net loans and leases to core deposits
  • 80.67%Equity capital to assets
  • 12.32%Core capital (leverage) ratio
  • 11.76%Tier 1 risk-based capital ratio
  • 17.95%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $486,396Average earning assets
  • $58,381Average equity
  • $472,704Average loans

List of branches

  • 5 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06552Vermillion State Bank107 E Main St., Vermillion, MN 55085August 10, 1918Full Service Brick and Mortar
    1222016Hastings Branch975 Lyn Way, Hastings, MN 55033November 24, 1981Full Service Brick and Mortar
    2222017Hastings Branch255 West 33rd Street, Hastings, MN 55033September 03, 1991Full Service Brick and Mortar
    3222018Rosemount Branch15040 Canada Avenue West, Rosemount, MN 55068November 01, 1994Full Service Brick and Mortar
    4222019Inver Grove Heights Branch2975 80th Street East, Inver Grove Heights, MN 55075January 01, 1996Full Service Brick and Mortar

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