Worthington Federal Savings Bank, FSB in Worthington, Minnesota (MN)
Table of contents:
| Worthington Federal Savings Bank, FSB | |
|---|---|
| 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 10 |
| Total assets | $61,884 |
| Cash and due from depository institutions | $7,932 |
| Interest-bearing balances | $7,632 |
| Securities | $9,449 |
| Federal funds sold & reverse repurchase agreements | $1,585 |
| Net loans & leases | $41,804 |
| Loan loss allowance | $101 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $336 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $778 |
| Life insurance assets | $61,884 |
| Total liabilities and capital | $53,213 |
| Total liabilities | $51,465 |
| Total deposits | $50,253 |
| Interest-bearing deposits | $51,465 |
| Deposits held in domestic offices | $100 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $1,500 |
| Other borrowed funds | $0 |
| Subordinated debt | $248 |
| All other liabilities | $8,671 |
| Total equity capital | $8,671 |
| Total bank equity capital | $8,671 |
| Perpetual preferred stock | $0 |
| Common stock | $0 |
| Surplus | $0 |
| Undivided profits | $8,671 |
| 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 | $0 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $267 |
| Average Assets, year-to-date | $60,470 |
| Average Assets, quarterly | $0 |
| Volatile liabilities | $60,095 |
| Insider loans | $61,045 |
| FHLB advances | $26,638 |
| Loans and leases held for sale | $61,884 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $8,671 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $2,019 |
| Derivatives | $664 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,594 |
| Total interest expense | $700 |
| Net interest income | $1,894 |
| Provision for loan and lease losses | $3 |
| Total noninterest income | $75 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $0 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $75 |
| Total noninterest expense | $1,193 |
| Salaries and employee benefits | $710 |
| Premises and equipment expense | $221 |
| Additional noninterest expense | $262 |
| Pre-tax net operating income | $773 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $303 |
| Income before extraordinary items | $470 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $470 |
| Net charge-offs | $0 |
| Cash dividends | $470 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.43% |
| Cost of funding earning assets | 1.19% |
| Net interest margin | 3.23% |
| Noninterest income to earning assets | 0.13% |
| Noninterest expense to earning assets | 2.04% |
| Net operating income to assets | 0.78% |
| Return on assets (ROA) | 0.78% |
| Pretax return on assets | 1.29% |
| Return on equity (ROE) | 5.57% |
| Retained earnings to average equity (YTD only) | 5.57% |
| Net charge-offs to loans | 0.00% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 0.00% |
| Assets per employee | $60,589 |
| Cash dividends to net income (YTD only) | 6.19% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 0.24% |
| Noncurrent assets plus other real estate owned to assets | 0.00% |
| Noncurrent loans to loans | 0.00% |
| Net loans and leases to deposits | 0.00% |
| Net loans and leases to core deposits | 81.23% |
| Equity capital to assets | 81.73% |
| Core capital (leverage) ratio | 14.01% |
| Tier 1 risk-based capital ratio | 14.01% |
| Total risk-based capital ratio | 32.55% |
| Memoranda | |
| Average assets | $33 |
| Average earning assets | $60,095 |
| Average equity | $8,436 |
| Average loans | $58,614 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 42260 | Worthington Federal Savings Bank, Fsb | 418 Eleventh Street, Worthington, MN 56187 | May 03, 1935 | Full Service Brick and Mortar |  |
| 100 | 274992 | Main Street Branch | 313 Main Street, Lakefield, MN 56150 | May 03, 1935 | Full Service Brick and Mortar |  |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.