State Savings Bank Reports – 762045

State Savings Bank Financial Reports

Quater Ended: 2023-12-31

State Savings Bank is a Commercial bank, state charter, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC) located in West Des Moines, IA. Established on 07/04/1894, the bank is regulated by the FDIC and has 2 domestic offices. It operates in the Des Moines-West Des Moines, IA.

The bank has 31 employees and holds $222,190k in total assets. With a focus on community banking, the bank has been serving its customers since 07/04/1894.

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State Savings Bank Institution Profile

Established Date 07/04/1894 Institution Class Commercial bank, state charter, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC)
Primary Regulator FDIC Number of Domestic Offices 2
Number of Foreign Offices 0 Number of US Offices 0
Number of Employees 31 Directly owned by another bank (CERT) No
Community Bank Yes ZIP 50265
Ownership Type Not Mutual City West Des Moines
State Alpha code IA State and County Number 19153
Subchapter S Corporations Yes Trust Powers Trust Powers Not Known
Federal Reserve ID Number 7 Federal Reserve ID Number Description CHICAGO
Office of The Comptroller District: WESTERN DISTRICT Office of Thrift Supervision Region Western
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 State Savings Bank with our “Institution Profile” table. The 07/04/1894 marks the bank’s inception, providing historical context. Categorized as a Commercial bank, state charter, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC), the bank operates under the oversight of FDIC, ensuring compliance and regulatory adherence.

2 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 West Des Moines, IA, and 50265 provide geographic context. Explore these attributes to gain a holistic view of State Savings Bank in the financial landscape.

State Savings Bank Financials

(USD, in thousands)

Total Assets 222,190 Total Liabilities 201,477
Total Equity Capital 20,713 Total Deposits 163,696
Net Loans and Leases 190,045 Total Interest Income 3,114
Total Noninterest Income 126 Total Interest Expense 1,104
Total Noninterest Expense 1,443 Tier 1 Risk-Based Capital Ratio 10
Net Loans and Leases to Core Deposits 123 Return on Assets 1
Return on Equity 11 Efficiency Ratio 68

Financial Performance Overview

Gain a comprehensive perspective on State Savings Bank’s financial landscape through our “Financials” table. The bank boasts total assets of $222,190k, 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 $201,477k and total equity capital at $20,713k.

Delve into key operational metrics, including total deposits of $163,696k, 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 10.2729, and Return on Assets at 1.04. 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 State Savings Bank’s performance and competitive positioning within the financial industry.

State Savings Bank Additional Financial Information

(USD, in thousands)

Earnings Coverage of Net Loan Charge-Offs(x) 874 Net Loans and Leases to Core Deposits 123
Tier 1 Risk-Based Capital Ratio 10 Securities Gains (Losses) -1
Goodwill and Other Intangibles N/A Cost of Funding Earning Assets 2
Yield on Earning Assets 6 Total Interest Income 3,114
Applicable Income Taxes 33 Loss Allowance to Loans and Leases 1
Net Loans and Leases 190,045 Loss Allowance to Noncurrent Loans and Leases 412
Noncurrent Loans to Loans 0 Net Income Attributable to Bank and Noncontrolling Interests 554
Net Interest Income 2,010 Net Interest Margin 4
Net Operating Income to Assets 1 Noninterest Income to Average Assets 0
Total Noninterest Income 126 Noninterest Expense to Average Assets 3
Total Noninterest Expense 1,443 Net Charge-Offs to Loans and Leases 0
All Other Assets 8,148 Other Real Estate Owned 0
Other borrowed funds 35,943 Pre-tax Net Operating Income 588
Pretax Return on Assets 1 Return on Assets 1
Retained Earnings to Average Equity (YTD only) 1

Insights into Financial Metrics

Enhance your understanding of State Savings Bank’s financial standing through our “Additional Financial Information” table. Explore key metrics such as Net Loans and Leases: $190,045k and Net Interest Income $2,010k to gain valuable insights into the bank’s core operations and revenue streams. Assess the Tier 1 Risk-Based Capital Ratio: 10.2729 for in-depth insights into capital adequacy and risk management strategies.

Delve into the intricacies of Net Charge-Offs to Loans and Leases: 0 to evaluate the bank’s asset quality and risk mitigation efforts. Examine the composition of income through Total Noninterest Income:$126k and evaluate operational efficiency using metrics like Efficiency Ratio: 67.56. This nuanced financial overview empowers a comprehensive analysis of State Savings Bank’s strategic financial position and performance in the industry.

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