Welcome State Bank in Welcome, Minnesota (MN)



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Welcome State Bank
GeneralFDIC 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
LocationAddress: 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 ChangesChange in Location
Financial SummaryTotal 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)
Total employees (full-time equivalent)5
Total assets$24,419
Cash and due from depository institutions$5,698
Interest-bearing balances$964
Securities$2,468
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$15,306
Loan loss allowance $290
Trading account assets$0
Bank premises and fixed assets$363
Other real estate owned$66
Goodwill and other intangibles$0
All other assets$518
Life insurance assets$24,419
Total liabilities and capital$22,012
Total liabilities$19,204
Total deposits$14,724
Interest-bearing deposits$19,204
Deposits held in domestic offices$88
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $2,808
All other liabilities $2,407
Total equity capital$2,407
Total bank equity capital$2,407
Perpetual preferred stock$0
Common stock$75
Surplus$1,475
Undivided profits $857
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 $254
Earning assets $0
Long-term assets (5+ years) $232
Average Assets, year-to-date $18,738
Average Assets, quarterly $1,272
Volatile liabilities $23,904
Insider loans $24,401
FHLB advances $20,551
Loans and leases held for sale $24,721
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $2,356
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $1,929
Derivatives$915
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $987
Total interest expense $143
Net interest income $844
Provision for loan and lease losses $30
Total noninterest income $312
Fiduciary activities $0
Service charges on deposit accounts $105
Trading account gains & fees $0
Additional noninterest income $207
Total noninterest expense $730
Salaries and employee benefits $382
Premises and equipment expense $116
Additional noninterest expense $232
Pre-tax net operating income $396
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $396
Extraordinary gains - net $0
Net income attributable to bank $396
Net charge-offs $0
Cash dividends $396
Sale, conversion, retirement of capital stock, net $11
Net operating income $316
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.33%
Cost of funding earning assets 0.77%
Net interest margin 4.56%
Noninterest income to earning assets 1.69%
Noninterest expense to earning assets 3.94%
Net operating income to assets 1.66%
Return on assets (ROA) 1.66%
Pretax return on assets 1.66%
Return on equity (ROE) 16.99%
Retained earnings to average equity (YTD only) 3.43%
Net charge-offs to loans 0.07%
Credit loss provision to net charge-offs 272.73%
Efficiency ratio38.73%
Assets per employee$63,149
Cash dividends to net income (YTD only)4.88%
Condition Ratios (%)
Loss allowance to loans 79.80%
Loss allowance to noncurrent loans 1.86%
Noncurrent assets plus other real estate owned to assets 114.17%
Noncurrent loans to loans 1.31%
Net loans and leases to deposits1.63%
Net loans and leases to core deposits 79.70%
Equity capital to assets 79.70%
Core capital (leverage) ratio 9.86%
Tier 1 risk-based capital ratio 9.53%
Total risk-based capital ratio 11.46%
Memoranda
Average assets$12
Average earning assets$23,904
Average equity $2,331
Average loans $18,510
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1 Minnesota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07289Welcome State Bank111 Guide Street North, Welcome, MN 56181January 01, 1913Full Service Brick and Mortar
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