Peoples State Bank

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About Us

Peoples State Bank is a locally owned bank in Plainview, Minnesota. It was established in 1925 by William R Zabel and continues to be owned and operated by the Zabel family today. In 1992, Peoples State Bank acquired branches in Elgin and Millville, Minnesota. In May of 1998, Peoples State Bank’s Main Office moved into the new Professional Building located at 100 4th Ave SE, Plainview, MN. In December of 2004, Peoples State Bank merged with Red Cedar Bank of Boyceville and Menomonie, Wisconsin. Red Cedar Bank was also owned by the William R Zabel family.

Statement of Condition
March 31, 2008

ASSETS
Non-interest-bearing balances	2,392
Interest-bearing balances	3,221

Held to Maturity securities	0
Available for sale securities	37,760

Federal funds sold	3,259
Securities purchased under agreements to resell	0

Loans and leases held for sale	234
Loans and leases net of unearned income	94,872
Less: allowance for loan and lease losses	1,227
Net of unearned income and allowance	93,645
Trading Assets	0
Premises and fixed assets	2,689
Other real estate owned	180
Investments in unconsolidated subsidiaries	0

Intangible assets Goodwill	0
Intangible assets Other	0
Other Assets	5,008
TOTAL ASSETS	148,388
LIABILITIES
Deposits in domestic offices	123,597
Non-interest bearing	16,115
Interest bearing	107,482

Federal funds purchased	0
Securities sold under agreements to repurchase	1,011
Trading liabilities	0

Other borrowed money	7,400

Subordinated notes and debentures	0
Other liabilities	2,391
Total Liabilities	134,399
Minority interest in consolidated subsidiaries	0

EQUITY CAPITAL
Perpetual preferred stock	0
Common Stock	900
Surplus	5,100
Retained earnings	7,460
Accumulated other comprehensive income	529
Other equity capital components	0
Total Equity Capital	13,989
TOTAL LIABILITIES & EQUITY CAPITAL	148,388