Ipswich State Bank

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Overview

FDIC Cert 15593
Address
301 First Avenue, Ipswich, SD 57451
FDIC Unique Number 9879
Federal Reserve ID 532453
Federal Reserve ID for Bank Holding Company 4394060
OCC Charter Number 0
OTS Docket Number Not available or not applicable
MSA
County Edmunds
Website http://www.isbipswich.com
Established On 04/13/1938
Insured On 04/13/1938
Holding Company Ipswich Community Bancshares, Inc.
Regulator Federal Deposit Insurance Corporation
Asset Concentration Agricultural Specialization
Ownership Type
Domestic Offices 1
Foreign Offices
Bank Charter Class NM - Commercial bank, state charter and Fed nonmember, supervised by the FDIC

Recent Changes

Financial Snapshot

USD, Thousands
Total Assets 52,184
Total Deposits 43,548
Domestic Deposits 43,548
Bank Equity Capital 7,648
Year to Date Quarterly
Net Income USD, 000 353 131
Return on Assets 0.84% 0.96%
Return on Equity 6.34% 6.97%
Pre-Tax Return on Assets 0.88% 1.01%
as of 09/30/2015

Financial Health

As of 09/30/2015
Low Risk

The Texas ratio is a measure of a bank's credit troubles. It is a way to measure how risky a bank is. The higher the Texas ratio, the more severe the credit troubles. Any bank with a TX Ratio near or greater than 100% is considered at risk. Developed by Gerard Cassidy and others at RBC Capital Markets, it is calculated by dividing the value of the lender's non-performing assets (Non performing loans + Real Estate Owned) by the sum of its tangible common equity capital and loan loss reserves.

Ipswich State Bank has a texas ratio of 0 which puts it at low risk. As of 09/30/2015 the bank had $0 Non Current Loans and Leases, $0 Other Real Estate Owned, $7,648 Total Equity Capital and $94 Loan Loss Allowance.

Historical Texas Ratios

Date Non Current Loans and Leases Other Real Estate Owned Total Equity Capital Loan Loss Allowance TX Ratio
09/30/2015 $0 $0 $7,648 $94 0
06/30/2015 $250 $0 $7,384 $94 3.34
03/31/2015 $11 $0 $7,393 $98 0.15
12/31/2014 $0 $0 $7,276 $96 0
09/30/2014 $0 $0 $7,175 $74 0
06/30/2014 $0 $0 $6,904 $72 0
03/31/2014 $0 $0 $6,589 $69 0
12/31/2013 $5 $0 $6,257 $62 0.08
09/30/2013 $3 $0 $6,219 $50 0.05
06/30/2013 $11 $0 $5,968 $25 0.18
03/31/2013 $20 $0 $6,550 $10 0.3
12/31/2012 $8 $0 $6,538 $10 0.12
09/30/2012 $86 $0 $6,441 $10 1.33
06/30/2012 $97 $0 $8,063 $556 1.13
03/31/2012 $54 $0 $8,795 $567 0.58
12/31/2011 $18 $0 $8,642 $546 0.2
09/30/2011 $137 $0 $8,533 $511 1.51
06/30/2011 $124 $0 $8,135 $511 1.43
03/31/2011 $129 $0 $7,893 $506 1.54
12/31/2010 $132 $0 $7,844 $505 1.58
09/30/2010 $146 $0 $7,976 $504 1.72
06/30/2010 $167 $0 $7,817 $413 2.03
03/31/2010 $196 $0 $7,632 $408 2.44
12/31/2009 $295 $0 $7,642 $407 3.67
09/30/2009 $478 $0 $7,577 $405 5.99
06/30/2009 $478 $0 $7,290 $403 6.21
03/31/2009 $261 $0 $7,131 $402 3.46

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Assets and Liabilities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total employees (full-time equivalent) 8 8 8 8 8 Chart
Total Assets 52,184 57,206 57,366 57,089 55,667 Chart
Cash & Balances due from depository institutions 3,873 4,349 4,202 3,363 4,548 Chart
Interest-bearing balances 2,331 2,466 1,329 1,328 1,576 Chart
Securities 15,522 15,660 14,916 14,822 15,027 Chart
Federal funds sold and reverse repurchase 500 1,500 6,000 3,500 500 Chart
Net loans and leases 28,320 31,910 28,450 31,327 31,448 Chart
Loan loss allowance 94 94 98 96 74 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 309 320 330 338 349 Chart
Other real estate owned 0 0 0 0 0 Chart
Goodwill and other intangibles 290 305 320 335 350 Chart
All other assets 3,370 3,162 3,148 3,404 3,445 Chart
Total Liabilities and Capital 52,184 57,206 57,366 57,089 55,667 Chart
Total Liabilities 44,536 49,822 49,973 49,813 48,492 Chart
Total deposits 43,548 45,329 45,753 44,932 44,192 Chart
Interest-bearing deposits 33,177 36,585 35,995 35,131 34,633 Chart
Deposits held in domestic offices 43,548 45,329 45,753 44,932 44,192 Chart
% insured (estimated) 85% 83% 84% 84% 84% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 5 3,505 3,223 3,897 3,303 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 983 988 997 984 997 Chart
Total equity capital 7,648 7,384 7,393 7,276 7,175 Chart
Bank equity capital 7,648 7,384 7,393 7,276 7,175 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 100 100 100 100 100 Chart
Surplus 6,570 6,570 6,570 6,570 6,570 Chart
Undivided profits 978 714 723 606 505 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 0 250 11 0 0 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 0 0 0 0 0 Chart
Income earned, not collected on loans 918 710 698 958 982 Chart
Earning assets 46,673 51,536 50,695 50,977 48,551 Chart
Long-term assets (5+ years) 10,477 10,388 9,753 10,169 9,878 Chart
Average total assets 55,961 57,220 57,228 56,270 56,065 Chart
Average assets, quarterly 54,695 57,286 57,228 56,378 55,972 Chart
Total risk weighted assets adjusted 37,300 39,761 37,231 39,724 39,496 Chart
Adjusted average assets for leverage capital purposes 54,864 57,705 57,190 56,803 55,338 Chart
Life insurance assets 2,421 2,414 2,407 2,399 2,391 Chart
General account life insurance assets 313 1,230 307 1,212 1,216 Chart
Separate account life insurance assets 1,724 801 1,718 807 797 Chart
Hybrid life insurance assets 384 383 382 380 378 Chart
Volatile liabilities 2,796 6,232 6,285 7,270 6,160 Chart
Insider loans 98 98 98 112 112 Chart
FHLB advances 0 0 0 0 0 Chart
Loans and leases held for sale 0 0 0 0 0 Chart
Unused loan commitments 6,698 8,290 9,649 9,898 6,847 Chart
Tier one (core) capital 7,445 7,308 7,210 7,007 6,901 Chart
Tier 2 Risk-based capital 94 94 98 96 74 Chart
Total unused commitments 6,698 8,290 9,649 9,898 6,847 Chart
Derivatives 0 0 0 0 0 Chart

Income and Expenses

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total interest income 1,250 838 432 1,885 1,392 Chart
Total interest expense 165 110 55 241 185 Chart
Net interest income 1,085 728 377 1,644 1,207 Chart
Provision for loan and lease losses 0 0 0 29 5 Chart
Total noninterest income 92 61 31 159 107 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 63 41 20 103 80 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 29 20 11 56 27 Chart
Total noninterest expense 806 556 277 1,157 816 Chart
Salaries and employee benefits 477 330 161 677 476 Chart
Premises and equipment expense 83 55 26 146 103 Chart
Additional noninterest expense 246 171 90 334 237 Chart
Pre-tax net operating income 371 233 131 617 493 Chart
Securities gains (losses) 0 0 0 17 17 Chart
Applicable income taxes 18 11 1 30 -2 Chart
Income before extraordinary items 353 222 130 604 512 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 353 222 130 604 512 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 353 222 130 604 512 Chart
Net charge-offs 2 2 -2 -5 -7 Chart
Cash dividends 134 134 134 0 0 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 353 222 130 588 495 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 15,522 15,660 14,916 14,822 15,027 Chart
U.S. Government securities 4,366 4,346 4,354 4,318 4,311 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 4,366 4,346 4,354 4,318 4,311 Chart
Securities issued by states & political subdivisions 10,816 10,983 10,224 10,170 10,385 Chart
Other domestic debt securities 340 331 338 334 331 Chart
Privately issued residential mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage-backed securities - Total 0 0 0 0 0 Chart
Asset backed securities 0 0 0 0 0 Chart
Structured financial products - Total 0 0 0 0 0 Chart
Other domestic debt securities - All other 340 331 338 334 331 Chart
Foreign debt securities 0 0 0 0 0 Chart
Equity securities 0 0 0 0 0 Chart
Assets held in trading accounts for TFR Reporters 0 0 0 0 0 Chart
General valuation allowances for securities for TFR Reporters 0 0 0 0 0 Chart
Memoranda
Pledged securities 8,106 8,043 8,381 5,627 8,336 Chart
Mortgage-backed securities 0 0 0 0 0 Chart
Certificates of participation in pools of residential mortgages 0 0 0 0 0 Chart
Issued or guaranteed by U.S. 0 0 0 0 0 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 0 0 0 0 0 Chart
CMOs issued by government agencies or sponsored agencies 0 0 0 0 0 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage pass-through securities 0 0 0 0 0 Chart
Other commercial mortgage-backed securities 0 0 0 0 0 Chart
Held to maturity securities (book value) 0 0 0 0 0 Chart
Available-for-sale securities (fair market value) 15,522 15,660 14,916 14,822 15,027 Chart
Total debt securities 15,522 15,660 14,916 14,822 15,027 Chart
Structured Notes
Amortized cost 0 0 0 0 0 Chart
Fair value 0 0 0 0 0 Chart
Trading account assets 0 0 0 0 0 Chart
Revaluation gains on off-balance sheet contracts 0 0 0 0 0 Chart
Revaluation losses on off-balance sheet contracts 0 0 0 0 0 Chart

Performance and Condition Ratios

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
% of unprofitable institutions N/A N/A N/A N/A N/A Chart
% of insitutions with earnings gains N/A N/A N/A N/A N/A Chart
Performance Ratios (%, annualized)
Yield on earning assets 3.34% 3.28% 3.40% 3.77% 3.74% Chart
Cost of funding earning assets 0.44% 0.43% 0.43% 0.48% 0.50% Chart
Net interest margin 2.89% 2.85% 2.97% 3.29% 3.24% Chart
Noninterest income to average assets 0.22% 0.21% 0.22% 0.28% 0.25% Chart
Noninterest expense to average assets 1.92% 1.94% 1.94% 2.06% 1.94% Chart
Loan and lease loss provision to assets 0.00% 0.00% 0.00% 0.05% 0.01% Chart
Net operating income to assets 0.84% 0.78% 0.91% 1.04% 1.18% Chart
Return on assets (ROA) 0.84% 0.78% 0.91% 1.07% 1.22% Chart
Pretax return on assets 0.88% 0.81% 0.92% 1.13% 1.21% Chart
Return on Equity (ROE) 6.34% 6.04% 7.09% 8.83% 10.14% Chart
Retained earnings to average equity (YTD only) 3.93% 2.39% -0.22% 8.83% 10.14% Chart
Net charge-offs to loans 0.01% 0.01% -0.03% -0.02% -0.03% Chart
Credit loss provision to net charge-offs 0.00% 0.00% 0.00% -580.00% -71.43% Chart
Earnings coverage of net charge-offs (x) 185.26% 116.50% 0.00% 0.00% 0.00% Chart
Efficiency ratio 64.66% 66.67% 64.22% 60.84% 58.68% Chart
Assets per employee ($millions) 6.52% 7.15% 7.17% 7.14% 6.96% Chart
Cash dividends to net income (YTD only) 37.96% 60.36% 103.08% 0.00% 0.00% Chart
Condition Ratios (%)
Loss allowance to loans 0.33% 0.29% 0.34% 0.31% 0.23% Chart
Loan loss allowance to noncurrent loans 0.00% 37.60% 890.91% 0.00% 0.00% Chart
Noncurrent assets plus other real estate owned to assets 0.00% 0.44% 0.02% 0.00% 0.00% Chart
Noncurrent loans to loans 0.00% 0.78% 0.04% 0.00% 0.00% Chart
Net loans and leases to total assets 54.27% 55.78% 49.59% 54.87% 56.49% Chart
Net loans and leases to deposits 65.03% 70.40% 62.18% 69.72% 71.16% Chart
Net loans and leases to core deposits 69.48% 75.90% 67.53% 75.85% 76.56% Chart
Total domestic deposits to total assets 83.45% 79.24% 79.76% 78.71% 79.39% Chart
Equity capital to assets 14.66% 12.91% 12.89% 12.75% 12.89% Chart
Core capital (leverage) ratio 13.57% 12.66% 12.61% 12.34% 12.47% Chart
Tier 1 risk-based capital ratio 19.96% 18.38% 19.37% 17.64% 17.47% Chart
Total risk-based capital ratio 20.21% 18.62% 19.63% 17.88% 17.66% Chart
Memoranda
Average total assets 55,961 57,220 57,228 56,270 56,065 Chart
Average earning assets 49,970 51,069 50,836 49,939 49,680 Chart
Average equity 7,425 7,351 7,335 6,840 6,731 Chart
Average loans 30,097 30,658 29,986 30,002 29,647 Chart