Security State Bank Reports – 955959

Security State Bank Financial Reports

Quater Ended: 2024-03-31

Security State Bank is a N/A located in Basin, WY. Established on 06/01/1929, the bank is regulated by the FED and has 6 domestic offices. It operates in the N/A.

The bank has 66 employees and holds $445,105k in total assets. With a focus on community banking, the bank has been serving its customers since 06/01/1929.

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Security State Bank Institution Profile

Established Date 06/01/1929 Institution Class N/A
Primary Regulator FED Number of Domestic Offices 6
Number of Foreign Offices 0 Number of US Offices 0
Number of Employees 66 Directly owned by another bank (CERT) No
Community Bank Yes ZIP 82410
Ownership Type Not Mutual City Basin
State Alpha code WY State and County Number 56003
Subchapter S Corporations No Trust Powers N/A
Federal Reserve ID Number 10 Federal Reserve ID Number Description KANSAS CITY
Office of The Comptroller District: WESTERN DISTRICT Office of Thrift Supervision Region West
Last Structure Change Effective Date 08/31/2022 Date of Deposit Insurance 01/01/1934
Primary Insurance Agency DIF

Institution Profile Overview

Delve into the foundational details of Security State Bank with our “Institution Profile” table. The 06/01/1929 marks the bank’s inception, providing historical context. Categorized as a N/A, the bank operates under the oversight of FED, ensuring compliance and regulatory adherence.

6 domestic offices reflect the bank’s physical footprint, while insights into ownership type, trust powers, and regulatory affiliations contribute to understanding its operational structure. Details such as Basin, WY, and 82410 provide geographic context. Explore these attributes to gain a holistic view of Security State Bank in the financial landscape.

Security State Bank Financials

(USD, in thousands)

Total Assets 445,105 Total Liabilities 415,086
Total Equity Capital 30,019 Total Deposits 366,967
Net Loans and Leases 190,135 Total Interest Income 4,486
Total Noninterest Income 392 Total Interest Expense 2,218
Total Noninterest Expense 2,332 Tier 1 Risk-Based Capital Ratio 19
Net Loans and Leases to Core Deposits 57 Return on Assets 0
Return on Equity 6 Efficiency Ratio 88

Financial Performance Overview

Gain a comprehensive perspective on Security State Bank’s financial landscape through our “Financials” table. The bank boasts total assets of $445,105k, showcasing its substantial scale and influential market presence. A nuanced breakdown reveals insights into the bank’s financial structure and stability, with total liabilities standing at $415,086k and total equity capital at $30,019k.

Delve into key operational metrics, including total deposits of $366,967k, net loans and leases at $190k, and a meticulous analysis of income and expense components. Explore vital ratios such as the Tier 1 Risk-Based Capital Ratio, standing at 18.678, and Return on Assets at 0.41. These metrics provide valuable insights into the bank’s risk management strategies and overall profitability.

This detailed financial overview is designed to enhance your understanding of Security State Bank’s performance and competitive positioning within the financial industry.

Security State Bank Additional Financial Information

(USD, in thousands)

Earnings Coverage of Net Loan Charge-Offs(x) 4 Net Loans and Leases to Core Deposits 57
Tier 1 Risk-Based Capital Ratio 19 Securities Gains (Losses) 16
Goodwill and Other Intangibles N/A Cost of Funding Earning Assets 2
Yield on Earning Assets 4 Total Interest Income 4,486
Applicable Income Taxes 79 Loss Allowance to Loans and Leases 2
Net Loans and Leases 190,135 Loss Allowance to Noncurrent Loans and Leases 0
Noncurrent Loans to Loans 0 Net Income Attributable to Bank and Noncontrolling Interests 465
Net Interest Income 2,268 Net Interest Margin 2
Net Operating Income to Assets 0 Noninterest Income to Average Assets 0
Total Noninterest Income 392 Noninterest Expense to Average Assets 2
Total Noninterest Expense 2,332 Net Charge-Offs to Loans and Leases 0
All Other Assets 19,745 Other Real Estate Owned 0
Other borrowed funds 36,250 Pre-tax Net Operating Income 528
Pretax Return on Assets 0 Return on Assets 0
Retained Earnings to Average Equity (YTD only) 6

Insights into Financial Metrics

Enhance your understanding of Security State Bank’s financial standing through our “Additional Financial Information” table. Explore key metrics such as Net Loans and Leases: $190,135k and Net Interest Income $2,268k to gain valuable insights into the bank’s core operations and revenue streams. Assess the Tier 1 Risk-Based Capital Ratio: 18.678 for in-depth insights into capital adequacy and risk management strategies.

Delve into the intricacies of Net Charge-Offs to Loans and Leases: 0.15 to evaluate the bank’s asset quality and risk mitigation efforts. Examine the composition of income through Total Noninterest Income:$392k and evaluate operational efficiency using metrics like Efficiency Ratio: 87.67. This nuanced financial overview empowers a comprehensive analysis of Security State Bank’s strategic financial position and performance in the industry.

This table provides key financial information about Security State Bank. Get more data about Security State Bank on Visbanking Report Portal.