# FARMERS STATE BANK OF ELKTON
ELKTON, MN · FDIC certificate 1416 · asset band <$300M · latest filing 2013-12 · stopped filing (departed)

**Verdict on the desk:** this could be *ordinary*. Composite score 0 (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 | $53.1M | |
| Deposits | $48.2M | |
| Loans and leases | $24.7M | |
| Total equity | $4.9M | |
| Loans / deposits | 50.51% (p20 of band) | 69.26% |
| Liquid assets / assets | 51.94% (p80 of band) | |
| Uninsured deposits / deposits | 11.91% (p47 of band) | 12.49% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p18 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 8.93% (p24 of band) | 10.29% |
| Unrealized securities loss / equity | -1.10% (p49 of band) | -1.01% |
| AOCI / equity | -12.66% (p14 of band) | |
| ROA (annualized) | 1.13% (p72 of band) | 0.76% |
| Net interest margin | 3.32% (p33 of band) | 3.63% |
| Efficiency ratio | 56.01% (p11 of band) | |
| Noncurrent loans | 1.16% (p55 of band) | 0.94% |
| Net charge-offs (annualized) | 0.26% (p79 of band) | |
| Reserve coverage of noncurrent | 130.66% | |
| Real estate % of loans | 55% | |
| Construction % of loans | 11.64% (p42 of band) | |
| Auto loans | $346,000 (1.40% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | 6.2% | |
| Employees | 9 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 0 |  | reserve under noncurrent |
| 2011-09 | 1 | capital falling |  |
| 2011-12 | 1 |  |  |
| 2012-03 | 0 |  | capital falling |
| 2012-06 | 0 |  |  |
| 2012-09 | 1 | uninsured deposits leaving |  |
| 2012-12 | 1 | capital falling | uninsured deposits leaving |
| 2013-03 | 1 |  |  |
| 2013-06 | 1 |  |  |
| 2013-09 | 1 |  |  |
| 2013-12 | 0 |  | capital falling |

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

- 2014-01-21 [Merger creates United Farmers State Bank - Post Bulletin](https://news.google.com/rss/articles/CBMihAFBVV95cUxQaDl1aERJMTRFUkJsUmhIc1dEemxGNkJHN2RxMHBlU21xWG9wSllneXVabDJpQlVNUUZLSk5sNVRLWXV5M3JmZlJraDFEdGtCU1ZrV05HNU5jTGduSW1sTHFaS2JZYU03bjV1REo4SHZocXhXM05nQ0R1czE3YUh6YWpOYUY?oc=5) · Post Bulletin
- 2010-01-06 [Muscle-car icon Freddie Engelhart pleads guilty to fraud - Pioneer Press](https://news.google.com/rss/articles/CBMimwFBVV95cUxOLTg4UmtiMG9NYVpDZmtVc2h5dnZjc0cyZHc4M1EzQ0ZULWJrSVlRLXBFS3JmS2JKWWZlV25rVmoxanBIYkc0b2VCUzJNTFl6UTJIRFdZYkdlNElKUTRGM0x6THFFS2lxVHRhblFBeGpSX2piYUQ0bmlWVU5OaHM3NHNCSC1PS2ZKMzVoVHlLd3pRVDV5eXcxVnVRVQ?oc=5) · Pioneer Press
- 2009-11-18 [Legal troubles mount for renowned muscle car restorer in Elkton, Minn. - Pioneer Press](https://news.google.com/rss/articles/CBMiqwFBVV95cUxPbUtTNm85dzM5dEpPRUNyVEZkTE5vMU1wOVQwcE94RmJ5M2owYlo2N044N2p5N21INUFJRHhuNDNfUDd1TmF2UkgzTW1lbklTSlNORWUxVWxMNDVoUGd4UUJ1bVJDNWhwdTdaNDZNRHJCd2pRdmRRZmpwdXN1emQ0c0VVSy04X1QxeVpkbHgwQlpvQ3BFWUo0cWRrdFA0UkZwYWZKckh4SlBVSVE?oc=5) · Pioneer Press

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=1416 (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/8.json (key "1416", 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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