First Bank

Report generated from DepositInsuredBanks.com
DepositInsuredBanks.com


Overview

FDIC Cert 3973
Address
520 6th Street, Brookings, SD 57006
FDIC Unique Number 2584
Federal Reserve ID 77851
Federal Reserve ID for Bank Holding Company 1123072
OCC Charter Number 0
OTS Docket Number 9589
MSA
County Brookings
Website http://www.bankeasy.com
Established On 11/02/1925
Insured On 01/01/1934
Holding Company Fishback Financial Corporation
Regulator Federal Deposit Insurance Corporation
Asset Concentration Agricultural Specialization
Ownership Type
Domestic Offices 11
Foreign Offices
Bank Charter Class NM - Commercial bank, state charter and Fed nonmember, supervised by the FDIC

Recent Changes

Participated in Absorption/Consolidation/Merger
Participated in Absorption/Consolidation/Merger

Financial Snapshot

USD, Thousands
Total Assets 1,316,776
Total Deposits 1,081,180
Domestic Deposits 1,081,180
Bank Equity Capital 146,006
Year to Date Quarterly
Net Income USD, 000 11,370 3,816
Return on Assets 1.15% 1.15%
Return on Equity 10.02% 10.18%
Pre-Tax Return on Assets 1.61% 1.62%
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.

First Bank has a texas ratio of 9.65 which puts it at low risk. As of 09/30/2015 the bank had $12,878 Non Current Loans and Leases, $2,439 Other Real Estate Owned, $146,006 Total Equity Capital and $12,749 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 $12,878 $2,439 $146,006 $12,749 9.65
06/30/2015 $10,328 $3,280 $113,361 $9,742 11.05
03/31/2015 $10,601 $9,546 $113,251 $9,321 16.44
12/31/2014 $10,858 $9,643 $111,328 $9,351 16.99
09/30/2014 $11,331 $11,512 $109,123 $9,221 19.3
06/30/2014 $11,662 $11,761 $107,916 $9,147 20.01
03/31/2014 $12,263 $12,472 $106,035 $9,211 21.46
12/31/2013 $12,100 $12,811 $104,265 $9,420 21.91
09/30/2013 $12,409 $13,461 $103,129 $9,173 23.04
06/30/2013 $13,343 $14,174 $106,941 $9,240 23.68
03/31/2013 $12,629 $15,580 $103,980 $9,286 24.91
12/31/2012 $13,168 $17,013 $102,993 $9,424 26.85
09/30/2012 $15,236 $17,992 $101,225 $10,150 29.83
06/30/2012 $17,477 $18,267 $98,652 $9,749 32.97
03/31/2012 $6,454 $18,977 $89,949 $9,242 25.64
12/31/2011 $7,740 $19,490 $88,908 $8,957 27.82
09/30/2011 $7,718 $15,351 $86,504 $9,091 24.13
06/30/2011 $8,920 $16,295 $83,732 $9,286 27.11
03/31/2011 $11,321 $14,594 $81,638 $10,038 28.27
12/31/2010 $13,898 $4,854 $79,808 $10,080 20.86
09/30/2010 $14,384 $4,153 $79,826 $9,781 20.69
06/30/2010 $15,435 $4,149 $78,258 $9,615 22.29
03/31/2010 $19,270 $4,233 $77,245 $9,650 27.05
12/31/2009 $19,808 $4,431 $76,316 $8,776 28.49
09/30/2009 $21,229 $7,310 $74,487 $7,733 34.71
06/30/2009 $9,448 $3,316 $70,806 $7,138 16.38
03/31/2009 $15,017 $3,316 $70,073 $6,652 23.89

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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) 174 125 127 125 128 Chart
Total Assets 1,316,776 979,439 954,632 952,344 932,707 Chart
Cash & Balances due from depository institutions 34,002 35,599 38,403 42,796 20,740 Chart
Interest-bearing balances 23,506 16,717 32,563 32,852 12,533 Chart
Securities 230,751 152,272 156,139 153,215 170,522 Chart
Federal funds sold and reverse repurchase 0 4,618 5,722 4,175 15,790 Chart
Net loans and leases 967,214 720,338 682,542 680,785 650,610 Chart
Loan loss allowance 12,749 9,742 9,321 9,351 9,221 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 18,673 16,152 16,135 16,097 15,938 Chart
Other real estate owned 2,439 3,280 9,546 9,643 11,512 Chart
Goodwill and other intangibles 5,713 1,659 1,658 1,691 1,711 Chart
All other assets 57,984 45,521 44,487 43,942 45,884 Chart
Total Liabilities and Capital 1,316,776 979,439 954,632 952,344 932,707 Chart
Total Liabilities 1,170,770 866,078 841,381 841,016 823,584 Chart
Total deposits 1,081,180 837,689 810,392 803,260 779,329 Chart
Interest-bearing deposits 903,586 727,287 693,337 692,132 659,374 Chart
Deposits held in domestic offices 1,081,180 837,689 810,392 803,260 779,329 Chart
% insured (estimated) 82% 70% 74% 76% 74% Chart
Federal funds purchased and repurchase agreements 55,670 11,835 14,421 20,928 8,563 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 19,641 5,159 5,168 5,168 24,697 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 14,279 11,395 11,400 11,660 10,995 Chart
Total equity capital 146,006 113,361 113,251 111,328 109,123 Chart
Bank equity capital 146,006 113,361 113,251 111,328 109,123 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 758 758 758 758 758 Chart
Surplus 81,538 57,081 57,081 57,081 57,081 Chart
Undivided profits 63,710 55,522 55,412 53,489 51,284 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 12,878 10,328 10,601 10,858 11,331 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 5 44 49 47 18 Chart
Income earned, not collected on loans 9,619 5,521 5,486 4,845 6,331 Chart
Earning assets 1,221,471 893,945 876,966 871,027 849,455 Chart
Long-term assets (5+ years) 494,018 363,461 364,410 365,699 367,686 Chart
Average total assets 1,321,495 962,138 953,488 930,640 925,214 Chart
Average assets, quarterly 1,323,094 967,036 953,488 942,526 922,355 Chart
Total risk weighted assets adjusted 1,081,101 795,983 758,685 770,704 763,533 Chart
Adjusted average assets for leverage capital purposes 1,306,555 955,022 946,469 928,361 909,506 Chart
Life insurance assets 29,664 24,700 24,501 24,307 24,110 Chart
General account life insurance assets 29,664 24,700 24,501 24,307 24,110 Chart
Separate account life insurance assets 0 0 0 0 0 Chart
Hybrid life insurance assets 0 0 0 0 0 Chart
Volatile liabilities 103,170 32,548 36,491 42,247 45,177 Chart
Insider loans 19,247 28,353 25,756 25,943 22,595 Chart
FHLB advances 19,630 5,137 5,144 5,150 24,657 Chart
Loans and leases held for sale 2,503 2,052 1,602 991 3,858 Chart
Unused loan commitments 275,838 235,468 252,042 233,723 230,448 Chart
Tier one (core) capital 136,937 109,685 108,609 107,306 105,466 Chart
Tier 2 Risk-based capital 12,749 9,742 9,321 9,351 9,221 Chart
Total unused commitments 275,838 235,468 252,042 233,723 230,448 Chart
Derivatives 52,573 55,179 50,910 27,591 8,127 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 38,167 18,281 8,966 37,021 26,427 Chart
Total interest expense 3,563 1,641 829 3,615 2,791 Chart
Net interest income 34,604 16,640 8,137 33,406 23,636 Chart
Provision for loan and lease losses 580 530 0 225 0 Chart
Total noninterest income 10,960 6,400 3,048 14,296 10,018 Chart
Gross Fiduciary activities income 2,879 1,942 972 3,774 2,657 Chart
Service charges on deposit accounts 918 318 151 707 526 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 7,163 4,140 1,925 9,815 6,835 Chart
Total noninterest expense 29,014 14,418 7,153 27,579 20,384 Chart
Salaries and employee benefits 10,138 5,103 2,524 9,556 6,987 Chart
Premises and equipment expense 2,390 1,230 619 2,269 1,656 Chart
Additional noninterest expense 16,486 8,085 4,010 15,754 11,741 Chart
Pre-tax net operating income 15,970 8,092 4,032 19,898 13,270 Chart
Securities gains (losses) 0 0 0 20 0 Chart
Applicable income taxes 4,600 2,230 1,107 5,862 3,803 Chart
Income before extraordinary items 11,370 5,862 2,925 14,056 9,467 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 11,370 5,862 2,925 14,056 9,467 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 11,370 5,862 2,925 14,056 9,467 Chart
Net charge-offs 259 139 30 294 199 Chart
Cash dividends 16,959 3,540 1,680 8,400 5,650 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 11,370 5,862 2,925 14,042 9,467 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 230,751 152,272 156,139 153,215 170,522 Chart
U.S. Government securities 147,821 88,447 91,020 90,232 93,850 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 147,821 88,447 91,020 90,232 93,850 Chart
Securities issued by states & political subdivisions 77,557 59,599 60,658 59,847 62,876 Chart
Other domestic debt securities 5,373 4,226 4,461 3,136 13,796 Chart
Privately issued residential mortgage-backed securities 2,878 2,734 2,975 3,136 3,319 Chart
Commercial mortgage-backed securities - Total 0 0 0 0 0 Chart
Asset backed securities 2,495 1,492 1,486 0 10,477 Chart
Structured financial products - Total 0 0 0 0 0 Chart
Other domestic debt securities - All other 0 0 0 0 0 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 172,417 132,829 125,373 127,719 118,829 Chart
Mortgage-backed securities 83,515 53,521 55,711 55,591 59,640 Chart
Certificates of participation in pools of residential mortgages 20,039 13,722 13,666 14,351 15,011 Chart
Issued or guaranteed by U.S. 20,039 13,722 13,666 14,351 15,011 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 43,843 29,014 30,607 31,282 32,192 Chart
CMOs issued by government agencies or sponsored agencies 40,965 26,280 27,632 28,146 28,873 Chart
Privately issued 2,878 2,734 2,975 3,136 3,319 Chart
Commercial mortgage-backed securities 19,633 10,785 11,438 9,958 12,437 Chart
Commercial mortgage pass-through securities 521 547 575 600 628 Chart
Other commercial mortgage-backed securities 19,112 10,238 10,863 9,358 11,809 Chart
Held to maturity securities (book value) 61,574 47,449 48,306 47,588 50,640 Chart
Available-for-sale securities (fair market value) 169,177 104,823 107,833 105,627 119,882 Chart
Total debt securities 230,751 152,270 156,140 153,215 170,522 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 4.17% 4.15% 4.10% 4.37% 4.19% Chart
Cost of funding earning assets 0.39% 0.37% 0.38% 0.43% 0.44% Chart
Net interest margin 3.78% 3.78% 3.72% 3.94% 3.75% Chart
Noninterest income to average assets 1.11% 1.33% 1.28% 1.54% 1.44% Chart
Noninterest expense to average assets 2.93% 3.00% 3.00% 2.96% 2.94% Chart
Loan and lease loss provision to assets 0.06% 0.11% 0.00% 0.02% 0.00% Chart
Net operating income to assets 1.15% 1.22% 1.23% 1.51% 1.36% Chart
Return on assets (ROA) 1.15% 1.22% 1.23% 1.51% 1.36% Chart
Pretax return on assets 1.61% 1.68% 1.69% 2.14% 1.91% Chart
Return on Equity (ROE) 10.02% 10.41% 10.42% 13.05% 11.81% Chart
Retained earnings to average equity (YTD only) -4.93% 4.12% 4.43% 5.25% 4.76% Chart
Net charge-offs to loans 0.04% 0.04% 0.02% 0.04% 0.04% Chart
Credit loss provision to net charge-offs 223.94% 381.29% 0.00% 76.53% 0.00% Chart
Earnings coverage of net charge-offs (x) 63.90% 62.03% 134.40% 68.45% 66.68% Chart
Efficiency ratio 63.66% 62.58% 63.95% 57.82% 60.57% Chart
Assets per employee ($millions) 7.57% 7.84% 7.52% 7.62% 7.29% Chart
Cash dividends to net income (YTD only) 149.16% 60.39% 57.44% 59.76% 59.68% Chart
Condition Ratios (%)
Loss allowance to loans 1.30% 1.33% 1.35% 1.35% 1.40% Chart
Loan loss allowance to noncurrent loans 99.00% 94.33% 87.93% 86.12% 81.38% Chart
Noncurrent assets plus other real estate owned to assets 1.16% 1.39% 2.11% 2.15% 2.45% Chart
Noncurrent loans to loans 1.31% 1.41% 1.53% 1.57% 1.72% Chart
Net loans and leases to total assets 73.45% 73.55% 71.50% 71.49% 69.76% Chart
Net loans and leases to deposits 89.46% 85.99% 84.22% 84.75% 83.48% Chart
Net loans and leases to core deposits 96.28% 93.74% 91.60% 90.34% 88.72% Chart
Total domestic deposits to total assets 82.11% 85.53% 84.89% 84.35% 83.56% Chart
Equity capital to assets 11.09% 11.57% 11.86% 11.69% 11.70% Chart
Core capital (leverage) ratio 10.48% 11.49% 11.48% 11.56% 11.60% Chart
Tier 1 risk-based capital ratio 12.67% 13.78% 14.32% 13.92% 13.81% Chart
Total risk-based capital ratio 13.85% 15.00% 15.54% 15.14% 15.02% Chart
Memoranda
Average total assets 1,321,495 962,138 953,488 930,640 925,214 Chart
Average earning assets 1,219,160 880,646 873,997 846,830 840,781 Chart
Average equity 151,234 112,647 112,290 107,733 106,835 Chart
Average loans 955,526 704,026 691,000 655,969 647,428 Chart