Woodland Bank in Deer River, Minnesota (MN)



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Woodland Bank
GeneralFDIC Certificate #: 8863
Status: Active
Federal Reserve ID: 788652
Bank Holding Company (Regulatory Top Holder): Remer Bancorporation, Inc. (RSSDID: 1126327, Location: Remer, MN)
Date Established: January 01, 1920
WWW: http://www.woodlandbank.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 #: 14682
FDIC's unique #: 5657
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: May 22, 2007
Last Structure Change Process Date: May 29, 2007
Last Data Update: May 29, 2007
Data Source Date: April 05, 2012
LocationAddress: 315 Main Ave., Deer River, MN 56636
County: Itasca
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 ChangesCorrections
Change in Location
Financial SummaryTotal assets: $109.7 mil
Equity capital: $8.4 mil
Deposits held in domestic offices: $100.6 mil
Return on assets (ROA): 0.51% ($0.6 mil)
Quarterly return on assets: 0.85% ($0.9 mil)
Return on Equity (ROE): 6.82% ($0.5 mil)
Quarterly return on equity: 11.11% ($0.9 mil)
Net income: $0.6 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.80% ($877.9 mil)
Quarterly Pretax return on assets: 1.28% ($1,404.7 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)41
Total assets$109,743
Cash and due from depository institutions$9,933
Interest-bearing balances$4,852
Securities$3,616
Federal funds sold & reverse repurchase agreements$6,970
Net loans & leases$77,761
Loan loss allowance $1,040
Trading account assets$0
Bank premises and fixed assets$6,079
Other real estate owned$1,969
Goodwill and other intangibles$0
All other assets$3,415
Life insurance assets$109,743
Total liabilities and capital$101,297
Total liabilities$100,578
Total deposits$88,640
Interest-bearing deposits$100,578
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$200
Other borrowed funds $0
Subordinated debt $519
All other liabilities $8,446
Total equity capital$8,446
Total bank equity capital$8,446
Perpetual preferred stock$0
Common stock$112
Surplus$6,187
Undivided profits $2,147
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $672
Income earned, not collected on loans $2,579
Earning assets $0
Long-term assets (5+ years) $454
Average Assets, year-to-date $93,199
Average Assets, quarterly $19,358
Volatile liabilities $108,360
Insider loans $109,100
FHLB advances $77,579
Loans and leases held for sale $108,558
Unused loan commitments $1,710
Tier 1 (core) risk-based capital $1,710
Tier 2 risk-based capital $8,445
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,878
Derivatives$2,634
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,505
Total interest expense $1,329
Net interest income $4,176
Provision for loan and lease losses $300
Total noninterest income $1,109
Fiduciary activities $0
Service charges on deposit accounts $545
Trading account gains & fees $0
Additional noninterest income $564
Total noninterest expense $4,252
Salaries and employee benefits $2,274
Premises and equipment expense $565
Additional noninterest expense $1,413
Pre-tax net operating income $733
Securities gains (losses) $137
Applicable income taxes $315
Income before extraordinary items $555
Extraordinary gains - net $0
Net income attributable to bank $555
Net charge-offs $0
Cash dividends $555
Sale, conversion, retirement of capital stock, net $472
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.85%
Cost of funding earning assets 1.41%
Net interest margin 4.43%
Noninterest income to earning assets 1.18%
Noninterest expense to earning assets 4.52%
Net operating income to assets 0.43%
Return on assets (ROA) 0.51%
Pretax return on assets 0.80%
Return on equity (ROE) 6.82%
Retained earnings to average equity (YTD only) 6.82%
Net charge-offs to loans 0.60%
Credit loss provision to net charge-offs 63.56%
Efficiency ratio2.19%
Assets per employee$80,454
Cash dividends to net income (YTD only)2.68%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.32%
Noncurrent assets plus other real estate owned to assets 40.33%
Noncurrent loans to loans 4.14%
Net loans and leases to deposits3.27%
Net loans and leases to core deposits 77.31%
Equity capital to assets 83.94%
Core capital (leverage) ratio 7.70%
Tier 1 risk-based capital ratio 7.78%
Total risk-based capital ratio 10.89%
Memoranda
Average assets$12
Average earning assets$108,360
Average equity $8,133
Average loans $94,174
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7 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05657Woodland Bank315 Main Ave., Deer River, MN 56636January 01, 1920Full Service Brick and Mortar
1219064Longville OfficeCounty Road 5 And Jordan Lane, Longville, MN 56655January 16, 1978Full Service Brick and Mortar
2219065Cohasset Office55 East Highway 2, Cohasset, MN 55721October 21, 1993Full Service Brick and Mortar
3219066Hill City Office675 Highway 169 South, Hill City, MN 55748September 16, 1997Full Service Brick and Mortar
4441016Woodland Bank - Jenkins Branch33900 Gleason Avenue, Jenkins, MN 56456June 10, 2005Full Service Brick and Mortar
5463366Remer Branch4 First Avenue Northeast, Remer, MN 56672May 22, 2007Full Service Brick and Mortar
6510607Grand Rapids Loan Production Office2610 Pokegama Avenue, Grand Rapids, MN 55744January 01, 2010Limited Service Loan Production
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