Western State Bank in Devils Lake, North Dakota (ND), AZ
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| Western State Bank | |
|---|---|
| General | FDIC Certificate #: 9123 Status: Active Federal Reserve ID: 233554 Bank Holding Company (Regulatory Top Holder): Western State Agency, Inc., Employee Stock Ownership Plan And Trust (RSSDID: 4247081, Location: Devils Lake, ND) Date Established: October 01, 1902 WWW: http://www.westernbanks.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 9 (Domestic: 9, Interstate: Yes) OTS Docket #: 10523 FDIC's unique #: 5841 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: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: April 01, 2009 Last Structure Change Process Date: April 02, 2009 Last Data Update: April 02, 2009 Data Source Date: April 05, 2012 |
| Location | Address: 110 Fourth Street Se, Devils Lake, ND 58301 County: Ramsey Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Grand Forks Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West |
| History of Changes | Office Purchased |
| Financial Summary | Total assets: $488.8 mil Equity capital: $55.8 mil Deposits held in domestic offices: $427.5 mil Return on assets (ROA): 1.07% ($5.2 mil) Quarterly return on assets: 1.23% ($6.0 mil) Return on Equity (ROE): 10.29% ($5.8 mil) Quarterly return on equity: 10.61% ($5.9 mil) Net income: $4.8 mil Quarterly Net income: $1.5 mil Pretax return on assets: 1.69% ($8,261.4 mil) Quarterly Pretax return on assets: 1.94% ($9,483.5 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 136 |
| Total assets | $488,840 |
| Cash and due from depository institutions | $23,686 |
| Interest-bearing balances | $12,408 |
| Securities | $46,956 |
| Federal funds sold & reverse repurchase agreements | $2,500 |
| Net loans & leases | $400,016 |
| Loan loss allowance | $6,980 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,186 |
| Other real estate owned | $1,164 |
| Goodwill and other intangibles | $222 |
| All other assets | $6,110 |
| Life insurance assets | $488,840 |
| Total liabilities and capital | $433,039 |
| Total liabilities | $427,474 |
| Total deposits | $385,574 |
| Interest-bearing deposits | $427,474 |
| Deposits held in domestic offices | $84 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,900 |
| Other borrowed funds | $0 |
| Subordinated debt | $3,665 |
| All other liabilities | $55,801 |
| Total equity capital | $55,801 |
| Total bank equity capital | $55,801 |
| Perpetual preferred stock | $0 |
| Common stock | $900 |
| Surplus | $32,350 |
| Undivided profits | $22,551 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $2,995 |
| Income earned, not collected on loans | $4,341 |
| Earning assets | $155 |
| Long-term assets (5+ years) | $1,765 |
| Average Assets, year-to-date | $461,880 |
| Average Assets, quarterly | $20,881 |
| Volatile liabilities | $448,544 |
| Insider loans | $476,131 |
| FHLB advances | $407,224 |
| Loans and leases held for sale | $482,609 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $55,413 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $71,212 |
| Derivatives | $304 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $28,819 |
| Total interest expense | $5,550 |
| Net interest income | $23,269 |
| Provision for loan and lease losses | $2,073 |
| Total noninterest income | $1,458 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $545 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $913 |
| Total noninterest expense | $15,084 |
| Salaries and employee benefits | $8,915 |
| Premises and equipment expense | $1,753 |
| Additional noninterest expense | $4,416 |
| Pre-tax net operating income | $7,570 |
| Securities gains (losses) | $13 |
| Applicable income taxes | $2,762 |
| Income before extraordinary items | $4,821 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $4,821 |
| Net charge-offs | $0 |
| Cash dividends | $4,821 |
| Sale, conversion, retirement of capital stock, net | $1,847 |
| Net operating income | $825 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 6.79% |
| Cost of funding earning assets | 1.31% |
| Net interest margin | 5.48% |
| Noninterest income to earning assets | 0.34% |
| Noninterest expense to earning assets | 3.55% |
| Net operating income to assets | 1.07% |
| Return on assets (ROA) | 1.07% |
| Pretax return on assets | 1.69% |
| Return on equity (ROE) | 10.29% |
| Retained earnings to average equity (YTD only) | 8.53% |
| Net charge-offs to loans | 0.50% |
| Credit loss provision to net charge-offs | 112.24% |
| Efficiency ratio | 5.22% |
| Assets per employee | $60,917 |
| Cash dividends to net income (YTD only) | 3.59% |
| Condition Ratios (%) | |
| Loss allowance to loans | 17.11% |
| Loss allowance to noncurrent loans | 1.72% |
| Noncurrent assets plus other real estate owned to assets | 160.79% |
| Noncurrent loans to loans | 1.13% |
| Net loans and leases to deposits | 1.07% |
| Net loans and leases to core deposits | 93.58% |
| Equity capital to assets | 101.60% |
| Core capital (leverage) ratio | 11.41% |
| Tier 1 risk-based capital ratio | 11.48% |
| Total risk-based capital ratio | 13.61% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $448,544 |
| Average equity | $46,862 |
| Average loans | $424,331 |
| Bank Assets Sold and Securitized (December 31, 2002) (Dollar figures in thousands) | |
| Principal balance with servicing or other recourse retained | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $0 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| All other loans and all leases | $9,833 |
| Past due loan amounts 30-89 days (included in principal balance) | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $0 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| All other loans and all leases | $558 |
| Past due loan amounts 90 days or more (included in principal balance) | |
| 1-4 family residential loans | $0 |
| Home equity lines | $0 |
| Credit cards receivables | $0 |
| Auto loans | $0 |
| Other consumer loans | $0 |
| Commercial and industrial loans | $0 |
| All other loans and all leases | $7 |
| 1 Arizona Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 10 | 232825 | Chandler, Az Branch | 928 West Chandler Boulevard, Chandler, AZ 85225 | January 01, 1899 | Full Service Brick and Mortar |  |
| 8 North Dakota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5841 | Western State Bank | 110 Fourth Street Se, Devils Lake, ND 58301 | October 01, 1902 | Full Service Brick and Mortar |  |
| 1 | 15816 | 202 Main Street South Branch | 200 Main Street South, Towner, ND 58788 | January 17, 1977 | Full Service Brick and Mortar | |
| 2 | 291628 | Upham Branch | # 3 C Avenue South, Upham, ND 58789 | Febuary 03, 1965 | Limited Service Facility | |
| 3 | 291629 | Willow City Branch | Main Street, Willow City, ND 58384 | August 26, 1965 | Limited Service Facility | |
| 5 | 291631 | Paying And Receiving Station Branch | 202 Main Street, Granville, ND 58741 | September 01, 1975 | Limited Service Facility | |
| 6 | 219495 | Fort Totten Branch | 816 3rd Avenue North, Fort Totten, ND 58335 | October 29, 1997 | Limited Service Facility | |
| 7 | 219496 | West Fargo Branch | 755 13th Avenue East, West Fargo, ND 58078 | January 06, 1999 | Full Service Brick and Mortar | |
| 9 | 466374 | Fargo Branch | 4302 13th Avenue South, Fargo, ND 58103 | January 22, 2007 | Full Service Brick and Mortar | |
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