Wadena State Bank in Wadena, Minnesota (MN)



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Wadena State Bank routing number info

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Wadena State Bank
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)25
Total assets$117,808
Cash and due from depository institutions$16,104
Interest-bearing balances$13,452
Securities$27,227
Federal funds sold & reverse repurchase agreements$7,730
Net loans & leases$61,446
Loan loss allowance $696
Trading account assets$0
Bank premises and fixed assets$1,369
Other real estate owned$2,025
Goodwill and other intangibles$17
All other assets$1,890
Life insurance assets$117,808
Total liabilities and capital$103,301
Total liabilities$99,071
Total deposits$76,520
Interest-bearing deposits$99,071
Deposits held in domestic offices$87
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$4,000
Other borrowed funds $0
Subordinated debt $230
All other liabilities $14,507
Total equity capital$14,507
Total bank equity capital$14,507
Perpetual preferred stock$0
Common stock$1,000
Surplus$6,750
Undivided profits $6,757
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 $247
Earning assets $28
Long-term assets (5+ years) $738
Average Assets, year-to-date $109,855
Average Assets, quarterly $35,464
Volatile liabilities $115,589
Insider loans $117,696
FHLB advances $75,284
Loans and leases held for sale $115,675
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $13,305
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,334
Derivatives$6
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,654
Total interest expense $952
Net interest income $4,702
Provision for loan and lease losses $202
Total noninterest income $543
Fiduciary activities $0
Service charges on deposit accounts $342
Trading account gains & fees $0
Additional noninterest income $201
Total noninterest expense $3,102
Salaries and employee benefits $1,662
Premises and equipment expense $389
Additional noninterest expense $1,051
Pre-tax net operating income $1,941
Securities gains (losses) -$130
Applicable income taxes $2
Income before extraordinary items $1,809
Extraordinary gains - net $0
Net income attributable to bank $1,809
Net charge-offs $0
Cash dividends $1,809
Sale, conversion, retirement of capital stock, net $483
Net operating income $719
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.21%
Cost of funding earning assets 0.88%
Net interest margin 4.33%
Noninterest income to earning assets 0.50%
Noninterest expense to earning assets 2.86%
Net operating income to assets 1.68%
Return on assets (ROA) 1.57%
Pretax return on assets 1.57%
Return on equity (ROE) 13.32%
Retained earnings to average equity (YTD only) 8.03%
Net charge-offs to loans 0.73%
Credit loss provision to net charge-offs 41.82%
Efficiency ratio4.44%
Assets per employee$58,532
Cash dividends to net income (YTD only)4.71%
Condition Ratios (%)
Loss allowance to loans 39.75%
Loss allowance to noncurrent loans 1.12%
Noncurrent assets plus other real estate owned to assets 281.78%
Noncurrent loans to loans 1.93%
Net loans and leases to deposits0.40%
Net loans and leases to core deposits 62.02%
Equity capital to assets 63.21%
Core capital (leverage) ratio 12.31%
Tier 1 risk-based capital ratio 11.50%
Total risk-based capital ratio 17.67%
Memoranda
Average assets$19
Average earning assets$115,589
Average equity $13,581
Average loans $108,528
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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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