1st American State Bank of Minnesota
Hancock, MN · Owner: West Central Banque Shares Inc
$18.2M
total assets, December 31, 2009
$18.2M
total assets, December 31, 2009
1st American State Bank of Minnesota was a state nonmember bank in Hancock, MN, owned by West Central Banque Shares Inc. It failed on Feb 5, 2010, and Community Development Bank, FSB took over its deposits. At its last report it held $18.2 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 2009
This bank failed
- Failed on
- Feb 5, 2010
- Assets
- $18.2M
- Deposits
- $16.3M
- Estimated cost
- $4.5M
- Deposits went to
- Community Development Bank, FSB, Omega, MN
Total assets
$18.2M
-30.6% in a year · -1.3% in a quarter
Deposits
$16.3M
-28.4% in a year · -0.5% in a quarter
Loans
$10.8M
-35.2% in a year · -4.1% in a quarter
Profit so far
-$1.5M
Jan 1 to Dec 31, 2009
Capital ratio
1.60%
-5.14 pts in a year
Return on assets
-6.88%
-3.29 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- Main Street, Hancock, MN, 56244
- County
- Stevens
- Holding company
- West Central Banque Shares Inc
- Established
- Jan 1, 1936
- Failed
- Feb 5, 2010
- Employees
- 6
- Branches
- 2
- Id
- b15448
Quarter by quarter
March 31, 1984 to December 31, 2009
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is 1st American State Bank of Minnesota?
$18.2 million in total assets and $16.3 million in deposits as of December 31, 2009, with assets down 30.6% from a year before. Its loans were $10.8 million.
How many branches does 1st American State Bank of Minnesota have?
2 branches in Minnesota as of June 30, 2026.
Is 1st American State Bank of Minnesota profitable?
No: it lost $1.47 million from January 1 to December 31, 2009. Its return on assets was -6.88% a year; about 1% is typical.
Who owns 1st American State Bank of Minnesota?
1st American State Bank of Minnesota is owned by West Central Banque Shares Inc, its holding company.
When did 1st American State Bank of Minnesota fail?
Feb 5, 2010. Community Development Bank, FSB of Omega, MN took over its deposits. The estimated cost of the failure was $4.52 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.