1st American State Bank of Minnesota

Main Street
Hancock, MN 56244

Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 15448
Date Established 1936
Assets $0.02 billion
Loans $0.01 billion
Deposits $0.02 billion
Capital $0.00 billion

1st American State Bank of Minnesota is an FDIC insured institution located in Hancock, MN. It was founded in 1936 and has approximately $0.02 billion in assets.

1st American State Bank of Minnesota, Hancock, Minnesota was closed February 5, 2010 by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Community Development Bank, FSB, Ogema, Minnesota, to assume all of the deposits of 1st American State Bank of Minnesota.

For a more detailed analysis of 1st American State Bank of Minnesota's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in 1st American State Bank of Minnesota’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, 1st American State Bank of Minnesota’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Savings Rates

Your Current Location: Virginia, VA 20146

Loan Rates

Your Current Location: Virginia, VA 20146

BestCashCow tracks mortgage, home equity, and auto loan rates. In the future, we will be adding other loan products. Please contact the lender for questions about their loan products.

There are currently no rates available for 1st American State Bank of Minnesota

We're working to get rates for every bank in the world. Please bare with us until we are able to get rates for this bank.

Back to 1st American State Bank of Minnesota

Note to 1st American State Bank of Minnesota
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

1st American State Bank of Minnesota branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


1st American State Bank Of Minnesota Locations

Financial Details

1st American State Bank of Minnesota Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of 1st American State Bank of Minnesota. The data is provided by the FDIC. Please remember that all banks listed on BestCashCow.com are FDIC insured while all credit unions are similarly insured by the NCUA. No depositor has ever lost money while their funds have been insured by the FDIC or NCUA.

Texas Ratio
1st American State Bank of Minnesota U.S. Bank Average
127.28% 9.11%

The Texas Ratio compares the amount of loans at risk and the amount of owned real estate with the amount a bank has on hand to cover any losses. As of June 30, 2016, 1st American State Bank of Minnesota had $1,423,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $292,000 in equity and $826,000 in loans loss reserves. That gives it a Texas Ratio of 127.28%. The closer the Texas Ratio is to 100% and over, the less capital and reserves a bank has to absorb its loan losses.

Return on Equity
1st American State Bank of Minnesota U.S. Bank Average
-159.37% 9.45%

1st American State Bank of Minnesota has a Return on Equity of -159.37% versus the BestCashCow average of 9.45%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
1st American State Bank of Minnesota U.S. Bank Average
1.61% 11.28%

1st American State Bank of Minnesota has a Capitalization of 1.61% versus the BestCashCow average of 11.28%. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

1st American State Bank of Minnesota Balance Sheet Analysis

As of November 30, -0001, 1st American State Bank of Minnesota had assets of $18,155,000, loans of $9,994,000, and deposits of $16,327,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Customer Reviews for 1st American State Bank of Minnesota

There are currently no comments for 1st American State Bank of Minnesota. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →