Worthington Federal Savings Bank, FSB in Worthington, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Worthington Federal Savings Bank, FSB in Worthington, Minnesota (MN)
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Worthington Federal Savings Bank, FSB - Overview

  • General
  • FDIC Certificate #: 29426
    Status: Active
    Federal Reserve ID: 258874
    Date Established: May 03, 1935
    WWW: http://www.worthingtonfederalsavings.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 3435
    FDIC's unique #: 42260
    Numeric code: 38
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: May 03, 1935
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 418 Eleventh Street, Worthington, MN 56187
    County: Nobles
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux Falls
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Worthington, MN (#49380)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $61.9 mil
    Equity capital: $8.7 mil
    Deposits held in domestic offices: $51.5 mil
    Return on assets (ROA): 0.78% ($0.5 mil)
    Quarterly return on assets: 0.73% ($0.5 mil)
    Return on Equity (ROE): 5.57% ($0.5 mil)
    Quarterly return on equity: 5.15% ($0.5 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 1.29% ($798.3 mil)
    Quarterly Pretax return on assets: 1.18% ($730.2 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
  • 10Total employees (full-time equivalent)
  • $61,884Total assets
  • $7,932Cash and due from depository institutions
  • $7,632Interest-bearing balances
  • $9,449Securities
  • $1,585Federal funds sold & reverse repurchase agreements
  • $41,804Net loans & leases
  • $101Loan loss allowance
  • $0Trading account assets
  • $336Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $61,884Life insurance assets
  • $778All other assets
  • $53,213Total liabilities and capital
  • $51,465Total liabilities
  • $50,253Total deposits
  • $51,465Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,500Trading liabilities
  • $0Other borrowed funds
  • $248Subordinated debt
  • $8,671All other liabilities
  • $8,671Total equity capital
  • $8,671Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $8,671Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $267Long-term assets (5+ years)
  • $60,470Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $60,095Volatile liabilities
  • $61,045Insider loans
  • $26,638FHLB advances
  • $61,884Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,671Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,019Restructured Loans and leases
  • $664Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $2,594Total interest income
  • $700Total interest expense
  • $1,894Net interest income
  • $3Provision for loan and lease losses
  • $75Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $75Additional noninterest income
  • $1,193Total noninterest expense
  • $710Salaries and employee benefits
  • $221Premises and equipment expense
  • $262Additional noninterest expense
  • $773Pre-tax net operating income
  • $0Securities gains (losses)
  • $303Applicable income taxes
  • $470Income before extraordinary items
  • $0Extraordinary gains - net
  • $470Net income attributable to bank
  • $0Net charge-offs
  • $470Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.43%Yield on earning assets
  • 1.19%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.13%Noninterest income to earning assets
  • 2.04%Noninterest expense to earning assets
  • 0.78%Net operating income to assets
  • 0.78%Return on assets (ROA)
  • 1.29%Pretax return on assets
  • 5.57%Return on equity (ROE)
  • 5.57%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 60,589Assets per employee
  • 6.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.24%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 81.23%Net loans and leases to core deposits
  • 81.73%Equity capital to assets
  • 14.01%Core capital (leverage) ratio
  • 14.01%Tier 1 risk-based capital ratio
  • 32.55%Total risk-based capital ratio
  • Memoranda
  • $33Average assets
  • $60,095Average earning assets
  • $8,436Average equity
  • $58,614Average loans

List of branches

  • 2 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    042260Worthington Federal Savings Bank, Fsb418 Eleventh Street, Worthington, MN 56187May 03, 1935Full Service Brick and Mortar
    100274992Main Street Branch313 Main Street, Lakefield, MN 56150May 03, 1935Full Service Brick and Mortar

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