The First National Bank of Gilbert Reports – 975452

The First National Bank of Gilbert Financial Reports

Quater Ended: 2024-03-31

The First National Bank of Gilbert is a Commercial bank, national (federal) charter, Fed member, and supervised by the Office of the Comptroller of the Currency (OCC) located in Gilbert, MN. Established on 10/26/1908, the bank is regulated by the OCC and has 2 domestic offices. It operates in the Duluth, MN-WI.

The bank has 12 employees and holds $78,485k in total assets. With a focus on community banking, the bank has been serving its customers since 10/26/1908.

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The First National Bank of Gilbert Institution Profile

Established Date 10/26/1908 Institution Class Commercial bank, national (federal) charter, Fed member, and supervised by the Office of the Comptroller of the Currency (OCC)
Primary Regulator OCC Number of Domestic Offices 2
Number of Foreign Offices 0 Number of US Offices 0
Number of Employees 12 Directly owned by another bank (CERT) No
Community Bank Yes ZIP 55741
Ownership Type Not Mutual City Gilbert
State Alpha code MN State and County Number 27137
Subchapter S Corporations No Trust Powers Trust Powers Not Known
Federal Reserve ID Number 9 Federal Reserve ID Number Description MINNEAPOLIS
Office of The Comptroller District: CENTRAL 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 The First National Bank of Gilbert with our “Institution Profile” table. The 10/26/1908 marks the bank’s inception, providing historical context. Categorized as a Commercial bank, national (federal) charter, Fed member, and supervised by the Office of the Comptroller of the Currency (OCC), the bank operates under the oversight of OCC, 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 Gilbert, MN, and 55741 provide geographic context. Explore these attributes to gain a holistic view of The First National Bank of Gilbert in the financial landscape.

The First National Bank of Gilbert Financials

(USD, in thousands)

Total Assets 78,485 Total Liabilities 72,866
Total Equity Capital 5,619 Total Deposits 61,778
Net Loans and Leases 61,214 Total Interest Income 860
Total Noninterest Income 37 Total Interest Expense 367
Total Noninterest Expense 423 Tier 1 Risk-Based Capital Ratio 13
Net Loans and Leases to Core Deposits 106 Return on Assets 1
Return on Equity 8 Efficiency Ratio 80

Financial Performance Overview

Gain a comprehensive perspective on The First National Bank of Gilbert’s financial landscape through our “Financials” table. The bank boasts total assets of $78,485k, 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 $72,866k and total equity capital at $5,619k.

Delve into key operational metrics, including total deposits of $61,778k, net loans and leases at $61k, and a meticulous analysis of income and expense components. Explore vital ratios such as the Tier 1 Risk-Based Capital Ratio, standing at 13.4168, and Return on Assets at 0.59. 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 The First National Bank of Gilbert’s performance and competitive positioning within the financial industry.

The First National Bank of Gilbert Additional Financial Information

(USD, in thousands)

Earnings Coverage of Net Loan Charge-Offs(x) 0 Net Loans and Leases to Core Deposits 106
Tier 1 Risk-Based Capital Ratio 13 Securities Gains (Losses) 10
Goodwill and Other Intangibles N/A Cost of Funding Earning Assets 2
Yield on Earning Assets 5 Total Interest Income 860
Applicable Income Taxes 0 Loss Allowance to Loans and Leases 1
Net Loans and Leases 61,214 Loss Allowance to Noncurrent Loans and Leases 0
Noncurrent Loans to Loans 0 Net Income Attributable to Bank and Noncontrolling Interests 117
Net Interest Income 493 Net Interest Margin 3
Net Operating Income to Assets 1 Noninterest Income to Average Assets 0
Total Noninterest Income 37 Noninterest Expense to Average Assets 2
Total Noninterest Expense 423 Net Charge-Offs to Loans and Leases 0
All Other Assets 2,374 Other Real Estate Owned 0
Other borrowed funds 10,700 Pre-tax Net Operating Income 107
Pretax Return on Assets 1 Return on Assets 1
Retained Earnings to Average Equity (YTD only) 8

Insights into Financial Metrics

Enhance your understanding of The First National Bank of Gilbert’s financial standing through our “Additional Financial Information” table. Explore key metrics such as Net Loans and Leases: $61,214k and Net Interest Income $493k to gain valuable insights into the bank’s core operations and revenue streams. Assess the Tier 1 Risk-Based Capital Ratio: 13.4168 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:$37k and evaluate operational efficiency using metrics like Efficiency Ratio: 79.81. This nuanced financial overview empowers a comprehensive analysis of The First National Bank of Gilbert’s strategic financial position and performance in the industry.

This table provides key financial information about The First National Bank of Gilbert. Get more data about The First National Bank of Gilbert on Visbanking Report Portal.