White Rock Bank in Cannon Falls, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

White Rock Bank - Overview

  • General
  • FDIC Certificate #: 10168
    Status: Active
    Federal Reserve ID: 217059
    Bank Holding Company (Regulatory Top Holder): 215 Holding Co. (RSSDID: 1247576, Location: Minneapolis, MN)
    Date Established: June 21, 1915
    WWW: http://www.whiterockbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 15781
    FDIC's unique #: 6509
    Numeric code: 21
    Regulator: FDIC
    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: 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: 31377 County 24 Boulevard, Cannon Falls, MN 55009
    County: Goodhue
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Minneapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
    Core Based Statistical Area (CBSA): Red Wing, MN (#39860)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $140.5 mil
    Equity capital: $16.3 mil
    Deposits held in domestic offices: $122.0 mil
    Return on assets (ROA): 2.48% ($3.5 mil)
    Quarterly return on assets: 3.98% ($5.6 mil)
    Return on Equity (ROE): 25.33% ($4.1 mil)
    Quarterly return on equity: 36.21% ($5.8 mil)
    Net income: $3.3 mil
    Quarterly Net income: $1.4 mil
    Pretax return on assets: 2.49% ($3,498.5 mil)
    Quarterly Pretax return on assets: 3.98% ($5,591.9 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
  • 44Total employees (full-time equivalent)
  • $140,501Total assets
  • $10,322Cash and due from depository institutions
  • $6,159Interest-bearing balances
  • $27,906Securities
  • $3,460Federal funds sold & reverse repurchase agreements
  • $90,376Net loans & leases
  • $574Loan loss allowance
  • $174Trading account assets
  • $4,036Bank premises and fixed assets
  • $1,097Other real estate owned
  • $317Goodwill and other intangibles
  • $140,501Life insurance assets
  • $2,813All other assets
  • $124,156Total liabilities and capital
  • $121,968Total liabilities
  • $98,323Total deposits
  • $121,968Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 1434.00%% insured (estimated)
  • $174Federal funds purchased & repurchase agreements
  • $23Trading liabilities
  • $0Other borrowed funds
  • $557Subordinated debt
  • $16,345All other liabilities
  • $16,345Total equity capital
  • $16,345Total bank equity capital
  • $0Perpetual preferred stock
  • $2,458Common stock
  • $7,225Surplus
  • $6,662Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $872Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,579Income earned, not collected on loans
  • $0Earning assets
  • $690Long-term assets (5+ years)
  • $128,075Average Assets, year-to-date
  • $16,910Average Assets, quarterly
  • $134,547Volatile liabilities
  • $137,843Insider loans
  • $101,644FHLB advances
  • $137,679Loans and leases held for sale
  • $1,347Unused loan commitments
  • $1,347Tier 1 (core) risk-based capital
  • $15,528Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $23,023Restructured Loans and leases
  • $1Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,885Total interest income
  • $277Total interest expense
  • $7,608Net interest income
  • $525Provision for loan and lease losses
  • $1,195Total noninterest income
  • $0Fiduciary activities
  • $517Service charges on deposit accounts
  • $0Trading account gains & fees
  • $678Additional noninterest income
  • $4,934Total noninterest expense
  • $2,425Salaries and employee benefits
  • $454Premises and equipment expense
  • $2,055Additional noninterest expense
  • $3,344Pre-tax net operating income
  • $0Securities gains (losses)
  • $1Applicable income taxes
  • $3,343Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,343Net income attributable to bank
  • $0Net charge-offs
  • $3,343Cash dividends
  • -$6Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.47%Yield on earning assets
  • 0.23%Cost of funding earning assets
  • 6.25%Net interest margin
  • 0.98%Noninterest income to earning assets
  • 4.05%Noninterest expense to earning assets
  • 2.48%Net operating income to assets
  • 2.48%Return on assets (ROA)
  • 2.49%Pretax return on assets
  • 25.33%Return on equity (ROE)
  • 25.33%Retained earnings to average equity (YTD only)
  • -0.01%Net charge-offs to loans
  • -8750.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 55,288Assets per employee
  • 3.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.63%Loss allowance to noncurrent loans
  • 36.35%Noncurrent assets plus other real estate owned to assets
  • 1.90%Noncurrent loans to loans
  • 1.74%Net loans and leases to deposits
  • 74.10%Net loans and leases to core deposits
  • 79.77%Equity capital to assets
  • 11.63%Core capital (leverage) ratio
  • 11.28%Tier 1 risk-based capital ratio
  • 15.28%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $134,547Average earning assets
  • $13,197Average equity
  • $121,791Average loans

List of branches

  • 7 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06509White Rock Bank31377 County 24 Boulevard, Cannon Falls, MN 55009June 21, 1915Full Service Brick and Mortar
    1221983White Rock Branch13313 County 1 Blvd, Cannon Falls, MN 55009May 29, 1991Full Service Brick and Mortar
    26780Goodhue Branch202 3rd Avenue, Goodhue, MN 55027January 01, 1914Full Service Brick and Mortar
    3222759Bellchester Branch601 1st Street, Bellchester, MN 55027Febuary 02, 1981Limited Service Facility
    4362283Cannon Falls Econo Foods Branch425 Main Street, Cannon Falls, MN 55009August 27, 2001Full Service Brick and Mortar
    5419164Red Wing Downtown Branch203 East Avenue, Red Wing, MN 55066May 14, 2003Limited Service Facility
    6424309North Service Drive Branch3141 North Service Drive, Red Wing, MN 55066December 23, 2003Full Service Brick and Mortar

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