First State Bank Southwest is headquartered in Pipestone and is the 74th largest bank in the state of Minnesota. It is also the 2,758th largest bank in the nation. It was established in 1903 and as of December of 2013, it had grown to 53 employees at 6 locations. First State Bank Southwest has a B+ health rating.
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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 First State Bank Southwest had $223,000 in non-current loans and owned real-estate with $24.91 million in equity and loan loss allowances on hand to cover it. This gives First State Bank Southwest a Texas Ratio of 0.90% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First State Bank Southwest held steady from 0.19% as of December 31, 2012 to 0.90% as of December 31, 2013, resulting in a negative change of 368.18%. This indicates that the balance sheet and financial strength for First State Bank Southwest has held steady in recent periods.
In the past year, First State Bank Southwest has decreased its total deposits by -$8.35 million, resulting in -4.24% 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 First State Bank Southwest has shown is below average.
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. First State Bank Southwest has $228.24 million in assets with $24.91 million in equity, resulting in a capitalization level of 10.91%, which is above average.
|FDIC Certificate #||9770|
|Assets and Liabilities|
|Equity Capital||$22.60 million|
|Loan Loss Allowance||$2.32 million|
|Unbacked Noncurrent Loans||$34,000|
|Real Estate Owned||$189,000|
|Historic Data - December 2012|
|Equity Capital||$23.33 million|
|Loan Loss Allowance||$2.30 million|
|Real Estate Owned||$49,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.34%|
|Return on Assets||1.5%|
|Return on Equity||15.03%|
|Interest Income||$7.55 million|
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|1.51%||-||$15k||Free Rewards Checking|
|0.05%||-||-||Free Rewards Checking|
|0.55%||$5k||-||20 Month CD|
|0.35%||$5k||-||13 Month CD|
|First State Bank Southwest Locations|
|Rushmore Branch||103 North Thompson Avenue||Rushmore, MN 56168|
|Worthingron||1055 Ryans Road||Worthington, MN 56187|
|Worthington Branch||1433 Oxford Street||Worthington, MN 56187|
|First State Bank Southwest||202 Second Street Southeast||Pipestone, MN 56164|
|Leota Branch||423 Main Street||Leota, MN 56153|
|Edgerton Branch||760 Main Street||Edgerton, MN 56128|