Horizon Bank
Pine City, MN — Non-member Bank
Acquired Jun 2009
Vitals
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Total Assets84.8M -5.5 %
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Total Deposits69.3M -2.6 %
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Total Net Loans64.7M -10.6 %
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Net Income
-
Book Value1.1M -86.2 %
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Book Value x22.2M -86.2 %
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Book Value x33.2M -86.2 %
Balance Sheet Highlights
| Financial Highlights | Horizon Bank | All Insured Commercial Banks in Minnesota |
| Balance Sheet $(000) | ||
| Total Assets | 84,763 | 108,772 |
| Total Net Loans | 64,675 | 77,618 |
| Total Deposits | 69,254 | 88,800 |
| Total Equity | 1,082 | 10,816 |
| Profitability | ||
| Net Income | — | 447 |
| Return on Average Assets | — | 1.072 |
| Return on Average Equity | — | 10.391 |
| Net Interest Margin | 2.344 | 3.939 |
| Efficiency Ratio | 1009.259 | 72.218 |
| Noninterest Income/Revenue | 10.126 | |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | 93.388 | 83.34 |
| Securities/Assets | .013 | .25 |
| Total Equity/Total Assets | .013 | .099 |
| Tangible Equity/Tangible Assets | .013 | .027 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | — |
| Tier 1 Capital | 1,016 | 10,111 |
| Tier 2 Capital | 871 | 962 |
| Total Capital | 1,887 | 11,077 |
| Total Risk Weighted Assets | 67,689 | 84,982 |
| Leverage Ratio | 1.1 | 9.714 |
| Common Equity Tier 1 Capital Ratio | — | — |
| Tier 1 Capital Ratio | 1.5 | 13.119 |
| Total Capital Ratio | 2.79 | 14.244 |
Timeline for Horizon Bank
Stearns Bank National Association
Horizon Bank was acquired by Stearns Bank National Association 14 years
View Profile Jun 27 2009
Pine City Bancorporation, Inc.
Pine City Bancorporation, Inc. became a new parent organization for Horizon Bank.
View Profile Nov 16 1981
Horizon Bank
Horizon Bank was established 108 years ago and is currently headquartered in Pine City, MN.
Jun 01 1915| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| Stearns Bank National Association | Buyer | 1,829,262 | Failure | 6/27/2009 |
| Relationships | Role | Relationship Start | Relationship End |
| Pine City Bancorporation, Inc. | Parent | 12/31/1989 | 6/26/2009 |
| Pine City Bancorporation, Inc. | Parent | 11/16/1981 | 12/30/1989 |
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