FDIC Certificate #: 11417 Status: Active Federal Reserve ID: 215653 Bank Holding Company (Regulatory Top Holder): Welcome Bancshares, Inc. (RSSDID: 1126073, Location: Welcome, MN) Date Established: January 01, 1913 WWW:http://www.welcomestatebank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 7289 Numeric code: 13 Regulator: FED 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: January 18, 2007 Last Structure Change Process Date: January 30, 2007 Last Data Update: January 30, 2007 Data Source Date: April 05, 2012
Location
Address: 111 Guide Street North, Welcome, MN 56181 County: Martin Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Fairmont, MN (#21860) CBSA Micro Statistical Area: Yes
History of Changes
Change in Location
Financial Summary
Total assets: $24.4 mil Equity capital: $2.4 mil Deposits held in domestic offices: $19.2 mil Return on assets (ROA): 1.66% ($0.4 mil) Quarterly return on assets: 0.75% ($0.2 mil) Return on Equity (ROE): 16.99% ($0.3 mil) Quarterly return on equity: 7.66% ($0.2 mil) Net income: $0.4 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.66% ($405.4 mil) Quarterly Pretax return on assets: 0.75% ($183.1 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
5Total employees (full-time equivalent)
$24,419Total assets
$5,698Cash and due from depository institutions
$964Interest-bearing balances
$2,468Securities
$0Federal funds sold & reverse repurchase agreements
$15,306Net loans & leases
$290Loan loss allowance
$0Trading account assets
$363Bank premises and fixed assets
$66Other real estate owned
$0Goodwill and other intangibles
$24,419Life insurance assets
$518All other assets
$22,012Total liabilities and capital
$19,204Total liabilities
$14,724Total deposits
$19,204Interest-bearing deposits
$88Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$2,808Subordinated debt
$2,407All other liabilities
$2,407Total equity capital
$2,407Total bank equity capital
$0Perpetual preferred stock
$75Common stock
$1,475Surplus
$857Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$254Income earned, not collected on loans
$0Earning assets
$232Long-term assets (5+ years)
$18,738Average Assets, year-to-date
$1,272Average Assets, quarterly
$23,904Volatile liabilities
$24,401Insider loans
$20,551FHLB advances
$24,721Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$2,356Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$1,929Restructured Loans and leases
$915Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$987Total interest income
$143Total interest expense
$844Net interest income
$30Provision for loan and lease losses
$312Total noninterest income
$0Fiduciary activities
$105Service charges on deposit accounts
$0Trading account gains & fees
$207Additional noninterest income
$730Total noninterest expense
$382Salaries and employee benefits
$116Premises and equipment expense
$232Additional noninterest expense
$396Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$396Income before extraordinary items
$0Extraordinary gains - net
$396Net income attributable to bank
$0Net charge-offs
$396Cash dividends
$11Sale, conversion, retirement of capital stock, net
$316Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.33%Yield on earning assets
0.77%Cost of funding earning assets
4.56%Net interest margin
1.69%Noninterest income to earning assets
3.94%Noninterest expense to earning assets
1.66%Net operating income to assets
1.66%Return on assets (ROA)
1.66%Pretax return on assets
16.99%Return on equity (ROE)
3.43%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
272.73%Credit loss provision to net charge-offs
38.73%Efficiency ratio
63,149Assets per employee
4.88%Cash dividends to net income (YTD only)
Condition Ratios (%)
79.80%Loss allowance to loans
1.86%Loss allowance to noncurrent loans
114.17%Noncurrent assets plus other real estate owned to assets
1.31%Noncurrent loans to loans
1.63%Net loans and leases to deposits
79.70%Net loans and leases to core deposits
79.70%Equity capital to assets
9.86%Core capital (leverage) ratio
9.53%Tier 1 risk-based capital ratio
11.46%Total risk-based capital ratio
Memoranda
$12Average assets
$23,904Average earning assets
$2,331Average equity
$18,510Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
7289
Welcome State Bank
111 Guide Street North, Welcome, MN 56181
January 01, 1913
Full Service Brick and Mortar
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