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

Wadena State Bank - Overview

  • General
  • FDIC Certificate #: 13430
    Status: Active
    Federal Reserve ID: 210256
    Bank Holding Company (Regulatory Top Holder): Wadena Bankshares, Inc. (RSSDID: 1123719, Location: Wadena, MN)
    Date Established: January 01, 1917
    WWW: http://www.wadenastatebank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 10759
    FDIC's unique #: 8455
    Numeric code: 13
    Regulator: FED
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: January 03, 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
  • Location
  • Address: 304 Southeast First, Wadena, MN 56482
    County: Wadena
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Fargo
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $117.8 mil
    Equity capital: $14.5 mil
    Deposits held in domestic offices: $99.1 mil
    Return on assets (ROA): 1.57% ($1.9 mil)
    Quarterly return on assets: 1.45% ($1.7 mil)
    Return on Equity (ROE): 13.32% ($2.0 mil)
    Quarterly return on equity: 11.88% ($1.8 mil)
    Net income: $1.8 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.57% ($1,849.6 mil)
    Quarterly Pretax return on assets: 1.45% ($1,708.2 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
  • 25Total employees (full-time equivalent)
  • $117,808Total assets
  • $16,104Cash and due from depository institutions
  • $13,452Interest-bearing balances
  • $27,227Securities
  • $7,730Federal funds sold & reverse repurchase agreements
  • $61,446Net loans & leases
  • $696Loan loss allowance
  • $0Trading account assets
  • $1,369Bank premises and fixed assets
  • $2,025Other real estate owned
  • $17Goodwill and other intangibles
  • $117,808Life insurance assets
  • $1,890All other assets
  • $103,301Total liabilities and capital
  • $99,071Total liabilities
  • $76,520Total deposits
  • $99,071Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,000Trading liabilities
  • $0Other borrowed funds
  • $230Subordinated debt
  • $14,507All other liabilities
  • $14,507Total equity capital
  • $14,507Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $6,750Surplus
  • $6,757Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $247Income earned, not collected on loans
  • $28Earning assets
  • $738Long-term assets (5+ years)
  • $109,855Average Assets, year-to-date
  • $35,464Average Assets, quarterly
  • $115,589Volatile liabilities
  • $117,696Insider loans
  • $75,284FHLB advances
  • $115,675Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $13,305Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,334Restructured Loans and leases
  • $6Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,654Total interest income
  • $952Total interest expense
  • $4,702Net interest income
  • $202Provision for loan and lease losses
  • $543Total noninterest income
  • $0Fiduciary activities
  • $342Service charges on deposit accounts
  • $0Trading account gains & fees
  • $201Additional noninterest income
  • $3,102Total noninterest expense
  • $1,662Salaries and employee benefits
  • $389Premises and equipment expense
  • $1,051Additional noninterest expense
  • $1,941Pre-tax net operating income
  • -$130Securities gains (losses)
  • $2Applicable income taxes
  • $1,809Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,809Net income attributable to bank
  • $0Net charge-offs
  • $1,809Cash dividends
  • $483Sale, conversion, retirement of capital stock, net
  • $719Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.21%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 4.33%Net interest margin
  • 0.50%Noninterest income to earning assets
  • 2.86%Noninterest expense to earning assets
  • 1.68%Net operating income to assets
  • 1.57%Return on assets (ROA)
  • 1.57%Pretax return on assets
  • 13.32%Return on equity (ROE)
  • 8.03%Retained earnings to average equity (YTD only)
  • 0.73%Net charge-offs to loans
  • 41.82%Credit loss provision to net charge-offs
  • 4.44%Efficiency ratio
  • 58,532Assets per employee
  • 4.71%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 39.75%Loss allowance to loans
  • 1.12%Loss allowance to noncurrent loans
  • 281.78%Noncurrent assets plus other real estate owned to assets
  • 1.93%Noncurrent loans to loans
  • 0.40%Net loans and leases to deposits
  • 62.02%Net loans and leases to core deposits
  • 63.21%Equity capital to assets
  • 12.31%Core capital (leverage) ratio
  • 11.50%Tier 1 risk-based capital ratio
  • 17.67%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $115,589Average earning assets
  • $13,581Average equity
  • $108,528Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08455Wadena State Bank304 Southeast First, Wadena, MN 56482January 01, 1917Full Service Brick and Mortar
    110807Deer Creek BranchMain Street, Deer Creek, MN 56527March 15, 1948Full Service Brick and Mortar
    2238561Wadena State Bank Bluffton BranchCenter Avenue And Second Street, Bluffton, MN 56518October 22, 1979Full Service Brick and Mortar
    3419910Wadena State Express Bank Branch301 First Street Se, Wadena, MN 56482June 09, 2003Limited Service Facility

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