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Overview / Commentary
952-926-6561
5000 West 36th Street
Saint Louis Park, MN 55416

Citizens Independent Bank is headquartered in Saint Louis Park and is the 51st largest bank in the state of Minnesota. It is also the 2,182nd largest bank in the nation. It was established in 1950 and as of December of 2013, it had grown to 69 employees at 4 locations. Citizens Independent Bank has a C+ health rating.

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Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Citizens Independent Bank had $10.19 million in non-current loans and owned real-estate with $31.24 million in equity and loan loss allowances on hand to cover it. This gives Citizens Independent Bank a Texas Ratio of 32.61% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Citizens Independent Bank experienced no significant changes from 30.37% as of December 31, 2012 to 32.61% as of December 31, 2013, resulting in a negative change of 7.36%. This indicates that the balance sheet and financial strength for Citizens Independent Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Citizens Independent Bank has increased its total deposits by $2.8 million, resulting in 1.14% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Citizens Independent Bank has shown is above average.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Citizens Independent Bank has $299.07 million in assets with $31.24 million in equity, resulting in a capitalization level of 10.45%, which is above average.

Institution Statistics

Overall
FDIC Certificate #16863
Year Established1950
Employees69
Primary RegulatorFDIC
Assets and Liabilities
Assets$299.07 million
Loans$192.41 million
Deposits$248.71 million
Equity Capital$24.93 million
Loan Loss Allowance$6.31 million
Unbacked Noncurrent Loans$7.83 million
Real Estate Owned$2.35 million
Historic Data - December 2012
Assets$296.87 million
Equity Capital$25.63 million
Loan Loss Allowance$8.30 million
Unbacked Noncurrent Loans$7.83 million
Real Estate Owned$4.75 million
Profit Margin - Quarterly
Net Interest Margin3.57%
Return on Assets0.59%
Return on Equity6.9%
Interest Income$11.55 million
Rates
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Citizens Independent Bank CD Rates

DetailsAPYMINMAXPRODUCT
0.90%$500-5 Year CD Special
0.90%$500-Business 5 Year CD Special
0.70%$500-4 Year CD
0.70%$500-Business 4 Year CD
0.65%$2,500-40 Month CD Special
0.65%$2,500-Business 40 Month CD Special
0.45%$5k-36 Month CD Special
0.45%$5k-Business 36 Month CD Special
0.15%$2k-15 Month CD Special
0.15%$2k-Business 15 Month CD Special

Citizens Independent Bank IRA Rates

DetailsAPYMINMAXPRODUCT
0.90%$500-5 Year IRA (Traditional,CESA,Roth)
0.70%$500-4 Year IRA Special (Traditional,CESA,Roth)
0.65%$2,500-40 Month IRA (Traditional,CESA,Roth)
0.45%$5k-36 Month IRA Special (Traditional,CESA,Roth)
0.15%$2k-15 Month IRA Special (Traditional,CESA,Roth)
Locations


Citizens Independent Bank Locations
Hopkins Branch10901 Excelsior BoulevardHopkins, MN 55343
Plymouth Branch15600 36th Avenue NorthPlymouth, MN 55446
Robbinsdale Main Branch3700 West BroadwayRobbinsdale, MN 55422
Citizens Independent Bank5000 West 36th StreetSaint Louis Park, MN 55416