# FINANCIAL SECURITY BANK
KERKHOVEN, MN · FDIC certificate 10176 · asset band <$300M · latest filing 2023-12 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 2 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $149.7M | |
| Deposits | $106.5M | |
| Loans and leases | $121.9M | |
| Total equity | $24.7M | |
| Loans / deposits | 113.89% (p97 of band) | 70.54% |
| Liquid assets / assets | 7.70% (p2 of band) | |
| Uninsured deposits / deposits | 25.65% (p71 of band) | 19.32% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 11.92% (p84 of band) | |
| FHLB advances / assets | 10.02% | |
| Tier 1 leverage | 9.40% (p21 of band) | 11.31% |
| Unrealized securities loss / equity | -1.94% (p81 of band) | -16.04% |
| AOCI / equity | 0.79% (p27 of band) | |
| ROA (annualized) | 0.91% (p49 of band) | 0.93% |
| Net interest margin | 4.49% (p83 of band) | 3.54% |
| Efficiency ratio | 65.05% (p39 of band) | |
| Noncurrent loans | 0.00% (p13 of band) | 0.20% |
| Net charge-offs (annualized) | 0.00% (p35 of band) | |
| Reserve coverage of noncurrent | – | |
| Real estate % of loans | 77% | |
| Construction % of loans | 58.82% (p79 of band) | |
| Auto loans | $453,000 (0.37% of loans; DQ 1.32%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | 12.6% | |
| Employees | 21 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **liquid assets <10%** (`liq_thin`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | wholesale funding >15% |  |
| 2011-06 | 2 | loans exceed deposits |  |
| 2011-09 | 1 |  | wholesale funding >15% |
| 2011-12 | 1 |  |  |
| 2012-03 | 2 | capital falling |  |
| 2012-06 | 0 |  | loans exceed deposits, capital falling |
| 2012-09 | 2 | loans exceed deposits, reserve under noncurrent |  |
| 2012-12 | 3 | capital falling, uninsured deposits leaving | reserve under noncurrent |
| 2013-03 | 2 | reserve under noncurrent | loans exceed deposits, uninsured deposits leaving |
| 2013-06 | 2 |  |  |
| 2013-09 | 1 |  | reserve under noncurrent |
| 2013-12 | 1 |  |  |
| 2014-03 | 1 |  |  |
| 2014-06 | 1 | reserve under noncurrent | capital falling |
| 2014-09 | 0 |  | reserve under noncurrent |
| 2014-12 | 0 |  |  |
| 2015-03 | 2 | liquid assets <10%, charge-offs p90 |  |
| 2015-06 | 4 | loans exceed deposits, capital falling, deposits shrinking | liquid assets <10% |
| 2015-09 | 3 |  | capital falling |
| 2015-12 | 0 |  | charge-offs p90, loans exceed deposits, deposits shrinking |
| 2016-03 | 2 | loans exceed deposits, liquid assets <10% |  |
| 2016-06 | 2 | capital falling | loans exceed deposits |
| 2016-09 | 1 |  | capital falling |
| 2016-12 | 1 | reserve under noncurrent | liquid assets <10% |
| 2017-03 | 1 |  |  |
| 2017-06 | 0 |  | reserve under noncurrent |
| 2017-09 | 2 | loans exceed deposits, reserve under noncurrent |  |
| 2017-12 | 2 |  |  |
| 2018-03 | 2 |  |  |
| 2018-06 | 2 | capital falling | reserve under noncurrent |
| 2018-09 | 5 | wholesale funding >15%, liquid assets <10%, uninsured deposits leaving |  |
| 2018-12 | 3 | reserve under noncurrent | capital falling, liquid assets <10%, uninsured deposits leaving |
| 2019-03 | 1 |  | wholesale funding >15%, reserve under noncurrent |
| 2019-06 | 4 | liquid assets <10%, capital falling, reserve under noncurrent |  |
| 2019-09 | 4 |  |  |
| 2019-12 | 1 |  | liquid assets <10%, capital falling, reserve under noncurrent |
| 2020-03 | 0 |  | loans exceed deposits |
| 2020-06 | 3 | loans exceed deposits, liquid assets <10%, capital falling |  |
| 2020-09 | 3 | wholesale funding >15% | capital falling |
| 2020-12 | 1 |  | liquid assets <10%, wholesale funding >15% |
| 2021-03 | 1 |  |  |
| 2021-06 | 0 |  | loans exceed deposits |
| 2021-09 | 1 | charge-offs p90 |  |
| 2021-12 | 4 | losing money, expense ratio p90, NIM <2.5%, reserve under noncurrent | charge-offs p90 |
| 2022-03 | 3 | leverage <7%, capital falling | losing money, expense ratio p90, NIM <2.5% |
| 2022-06 | 0 |  | reserve under noncurrent, leverage <7%, capital falling |
| 2022-09 | 1 | uninsured deposits leaving |  |
| 2022-12 | 4 | loans exceed deposits, deposits shrinking, assets shrinking |  |
| 2023-03 | 5 | wholesale funding >15% |  |
| 2023-06 | 5 | liquid assets <10% | assets shrinking |
| 2023-09 | 3 | capital falling | uninsured deposits leaving, deposits shrinking, wholesale funding >15% |
| 2023-12 | 2 |  | capital falling |

## In the news (Google News, unfiltered, newest first; check the city)

- 2024-02-12 [Albertville’s Financial Security Bank Merges with Bravera, Expands Building - North Wright County Today](https://news.google.com/rss/articles/CBMitAFBVV95cUxPT19DMkd4aUVGZkJlQU5zY0pOQXZmUWxDZ2p0NmdDT3ZnYzZBZm5XYWhsNHVvdTRDZUhkNUNWMldpaTlyeUtlVEZLN2h2R3Q4VkZDa29pUHFZbms3aXRMYXlKUDd2cjJwYy1ON3JkMndaSE1Nc25IRzdRcGo0WXJzU25TdUFhR2xPRmZwVkZaUmF0Q1ZwTFUwcUJBdXJDUEtHalM3a19yTnNkbHpwYU1tbzBUYUc?oc=5) · North Wright County Today
- 2021-11-11 [Obituary for David Dean Forsman - Harvey Anderson & Johnson Funeral Home](https://news.google.com/rss/articles/CBMiVkFVX3lxTE40a1BmME9kR1pEbFpmMmR5MnpobURlcm1BNFhQaWl4RWNZUE5DSXdBNXdwbUFIQnUwQ2xudzlVMXRjbXdCZXM1VWtMVUFXOWFIRjFxbk9R?oc=5) · Harvey Anderson &amp; Johnson Funeral Home
- 2024-03-18 [Terrance Vinton Yokom - legacy.com](https://news.google.com/rss/articles/CBMigwFBVV95cUxQYmo4RnNFQ3hVQmlnZDhkamxhNGQxclZzTzVib3o4M19vbmJQU3dwbGViUG9fQ0VSbndlTmMtQ3hPLUhzUmFJcXdla0dBUGxkRkVVZE41Ri1scmY2RTBYdnMzQXNWX01xNnZiLU1QSDhNWXdpMkhCbWtKNmtZYV9zaEJTdw?oc=5) · legacy.com
- 2010-12-20 [Published Dec. 2010 Kind of nostalgic: Glenwood man begins improvement to downtown Willmar landmark - West Central Tribune](https://news.google.com/rss/articles/CBMiyAFBVV95cUxNY0JxZF8xdWJlendRSzhaNkZSYTFjRE90QkNKLTZRdHhVOVlNSUM2MGg0Q1VxeG5uRzRYdXJXa3pQOERmR0ZpR2UtTHJDeWtFQkJ3RnU2QW5fZl9OdHJ1MEhCOFpRNHVaNEZEWmcya3lGcGN6RlVvMmd2akwtUnRSTkp5N0FCV0pXWFFqNEROb3JGRzR2c3d0UnFIRktJZnZNTjdDWVZFdGplUnlKSU9yUzl6YzBndF9iTXBSQnpWaWdIYThVS1RrSg?oc=5) · West Central Tribune
- 2018-06-06 [Candidates selected for 2018-19 Albertville Royalty - hometownsource.com](https://news.google.com/rss/articles/CBMi5wFBVV95cUxNREl3SVRjSVZGVlEzRDhMX3B4QkY1cV9GRkc4SHgxWUxEN3Jxa09FZ2Vfdks5eGtjdzRIcEs0TEotdFc4aS1Bd2NaT3NOZHY5WVN3dWdhOXJuT0NTQ19nc19QcjdaWW0yR3B2RXVBX1YwaF9WSU5JMzFOYkYyZkdzTDFiZG82MU84YVczN0huN2w4UkJ2SVp2UXdIQ05MVnpMRnVIRmVkMllubEVidUVMZlB0YUZyYkp6b0hWRDFsRkZtenFrZE9JcFRPdHBGa2xOY0dyLU1TRWF3VlFITGpsRVI5aVB3dVk?oc=5) · hometownsource.com
- 2019-12-21 [Obituary for Kenneth M. Peterson - Harvey Anderson & Johnson Funeral Home](https://news.google.com/rss/articles/CBMiXEFVX3lxTFBza1Z2NExBdW9obzNzQkFaVmpDbkl1MWVheXlLaWhlSzMtM243N0NZOG8tbG1yVkpDeFZZRDBEQlZVaWlQZDYwb2VXVTdDbHNhWlB3a0ZOZC1qN1Nr?oc=5) · Harvey Anderson &amp; Johnson Funeral Home
- 2023-01-06 [HealthSource, Konz Family Lay Down Roots in Albertville with New Business Complex - North Wright County Today](https://news.google.com/rss/articles/CBMivwFBVV95cUxQNm1rYzQzallZczVfUzQ3M2hVRFBsY2tQX2tMZlZzMUxjcE0zdVJzbzEtZExIVFJDNlBsVWJoRS1ZZUxvOUVaN2hHdnNCX2hLaVRFQS1sYlhtbUgwamdfalFRZGdJN3ZxMWdIR2VkaEtlaTV6V01TRjdPQ1RLQ1lUc3N0VjJVeFdQVE1rbWZzbktKR2xnb0dnSloyTGtjbGptR3RYcWVhM3ZfcUdjdi1aWDFmdW1CU05xamRFTFgtaw?oc=5) · North Wright County Today
- 2022-02-12 [Obituary for Richard "Dick" Carlson - Harvey Anderson & Johnson Funeral Home](https://news.google.com/rss/articles/CBMiWEFVX3lxTFB5WTNxLUZmR0lNWFVxRm4wcU92NGVWTmZVOEJSSEZJWl9CRU9pYWlfckFYTFNvMWkwUjJKX21jZklRODFYMzZBemVnaVFpT0puVXI1SWZia3o?oc=5) · Harvey Anderson &amp; Johnson Funeral Home

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=10176 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/0.json (key "10176", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide