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Home > First National Bank of La Grange

History

Financial Information (2014-09-30 and Older)

Assets and Liabilities

Cash and Balances Due

Securities

U.S. Government Obligations

Total Debt Securities

Net Loans and Leases

1- 4 Family Residential Net Loans and Leases

Loans to Depository Institutions

Total Loans and Leases in Foreign Offices

Maturity & Repricing for Loans and Leases

Small Business Loans

Loans Restructured in Troubled Debt Restructurings

Other Real Estate Owned

Goodwill and Other Intangibles

Total Deposits

Transaction Accounts

Nontransaction Accounts

Time Deposits of Less Than $100,000

Time Deposits of $100,000 or More

Deposits Based on the $100,000 Reporting Threshold

Deposits Based on the $250,000 Reporting Threshold

Deposits Held in Foreign Offices

Changes in Bank Equity Capital

Total Unused Commitments

Letters of Credit

Total Assets and Liabilities in Foreign Offices

Derivatives

Past Due and Nonaccrual Assets

Past Due 30- 89 Days 1- 4 Family Residential

Past Due 90+ Days 1- 4 Family Residential

Nonaccrual 1- 4 Family Residential

Past Due and Nonaccrual Loans Wholly or Partially US Gvmt Guaranteed

Fiduciary and Related Services

Number of Fiduciary and Related Asset Accounts

Total Fiduciary and Related Assets

Total Managed Assets held in Fiduciary Accounts

Corporate Trust and Agency Accounts

Collective Investment & Common Trust Funds

Gross Fiduciary and Related Services Income

Fiduciary settlements, surcharges, and other losses

Carrying Amount of Assets Covered by FDIC Loss- Share Agreements

Bank Assets Sold and Securitized

Maximum Amount of Credit Exposure Retained

Unused Commitments

Amount of Ownership (Seller) Interests

Memoranda

Income and Expense

Total Interest Income

Total Interest Expense

Trading Account Gains & Fees

Additional Noninterest Income

Additional Noninterest Expense

Loan Charge- Offs and Recoveries

Total Charge- offs 1- 4 Family Residential

Total Recoveries 1- 4 Family Residential

Net Charge- offs 1- 4 Family Residential

Cash Dividends

Interest income and expense in foreign offices

Performance and Condition Ratios

Net charge- offs to loans

Noncurrent loans to loans

A group of investors has applied to the Federal Reserve System to form a holding company to purchase the stock of First National Bank of Brookfield, 9136 Washington Ave., from an unnamed creditor, who plans to foreclose on a $10 million debt owed by the bank.

In December the group, known as Brookfield Financial Holdings Inc., applied to the Federal Reserve System to become a bank holding company in order to acquire 100 percent of the voting stock of 1st Brookfield Inc., which owns First National Bank of Brookfield, from the creditor.

The public portion of the application was obtained by the Landmark through a Freedom of Information request to the Federal Reserve. It does not reveal the names of the investors seeking to acquire the bank, except for the president of Brookfield Financial Holdings, who is listed as Jeremy Levy.

In addition, the application indicates that some of the investors in Brookfield Financial Holdings Inc. “may also be investors holding shares of 1st Brookfield.”

According to someone familiar with the proposed transaction, the bank’s future does not rest on the proposed transaction taking place.

The bank, said the source, is “adequately capitalized,” and would continue to operate normally, even if the creditor moves ahead with the foreclosure action. The source called it “a non-event, except for the shareholders.”

According to the application, First National Bank of Brookfield is $17.5 million in debt. Approximately $10 million of that debt is owed to an unnamed “senior creditor.” That debt is secured by 100 percent of the stock of the bank.

Another $7.4 million in debt is owed to junior creditors who, according to the application, have no “realistic chance of economic recovery” of that debt.

The application states the senior creditor has accepted an offer from Brookfield Financial Holdings to purchase the bank’s stock for $2 million in cash. In addition, the application states that Brookfield Financial Holdings has commitments from investors for another $6 million which will be used to recapitalize the bank and prevent its failure.

The application, which is still being reviewed by the Federal Reserve, does not indicate a time frame for when the senior creditor might foreclose on the stock or when the transaction might take place.

At the time of acquisition, according to the application, Brookfield Financial Holdings would make “some changes in the directors of the bank,” but that many senior officers of the bank would remain.

The current directors of the First National Bank of Brookfield, according to the most recent annual report on file with the Federal Reserve in Chicago, include the Chairman Jan Schultz and Margaret Schultz, both of LaGrange Park; John DiGiovanni, the bank’s retired president, also of LaGrange Park; John S. Gable, of Chicago, Michael W. Colbert, of Scottsdale, Arizona; and Joseph Mondschean, of Oak Brook.

In addition, the holding company plans to hire “certain management officials” for a three-year period and that a chief credit officer would be added to the management of the bank.

Following the acquisition, the bank would operate normally and “continue to offer its full range of products and services.”

First National Bank of Brookfield has faced scrutiny since 2008, when the real estate market crashed, leaving the bank holding more than $25 million in loans that were not being paid back.

In September of that year, the Office of the Comptroller of the Currency, an arm of the U.S Treasury Department, took action by entering into a “formal agreement” with First National Bank of Brookfield to remedy “unsafe and unsound banking practices.”

On Dec. 9, 2010, the Comptroller of the Currency issued a consent order, requiring the bank to provide it with, among other things, a three-year capital plan and to maintain minimum ratios of capital to debt.

According to Brookfield Financial Holding’s application to the Federal Reserve System, the bank has raised capital in recent years and the bank’s condition has improved during that time.

However, without an injection of more capital the bank “will be unable at any time in the near future to meet the capital ratios required in the consent order” and “the current debt position of [the bank] has served as a significant impediment to the bank’s ability to raise additional capital.”

Jan Schultz, First National Bank of Brookfield’s chairman, did not respond to phone and email messages from the Landmark.

Getting Started

To have a Farmers State Bank Online Banking account, you must be a FSB customer with at least one account and have a completed application filled out and signed. We need to have an original signature on file (no faxes or copies are allowed). You can get an application by visiting any of our offices or on the Farmers State Bank website by using the Online Banking tab. Please complete this application and return it to any FSB associate. After your application is processed, your Online Banking ID and instructions for activating your account will be sent to you by postal mail within a few days.

To ensure the highest possible security, you must use a browser that supports 128-bit SSL encryption, such as Netscape Navigator 7.x and higher or Microsoft Internet Explorer version 7.x and higher. These browsers or browser updates are available free from the Netscape and Microsoft websites.

Online Banking Sign In

To begin banking online, click on the Online Banking “Sign In” button, located on the Farmers State Bank website homepage. From the Sign In page, you can sign on and access, Farmers State Bank's Online Banking services by entering your Online Banking ID and password. After you have entered your Online Banking ID and password, click on the “Submit” button to access your account information.

Immediately following your first successful login, you will be prompted to change your password. Your new password must be between six and twenty-four characters in length and must contain letters and numbers. For maximum security, you will be prompted to change your pin/password every 180 days.

REMEMBER: Keep your password private; do not disclose your password to others and do not write your password on anything that can be viewed by others.

If you forget your password, you must contact Farmers State Bank during business hours to have your password reset. After three unsuccessful login attempts, the system will automatically lock you out. This is to prevent possible unauthorized access to your accounts; in this case, you may contact us toregain access (260) 463-7111 or (888) 492-7111 Monday– Friday 8 am–5:00 pm EST , and Saturday 8am-12pm EST (with exception to Federal holidays). You may change your password at any time by using the “Options” tab within Online Banking. We recommend that you change your password frequently. To log out of Online Banking select “Exit” in the upper-right hand corner of screen.

Be assured, Farmers State Bank is here to serve you and we will not sell your e-mail address. We simply have it on file in case we need to contact you via the Internet.

View Interest Rates

This page displays current interest rates on Farmers State Bank’s deposit account products. The link is found by selecting the “Internet Banking” tab then choosing “Interest Rates”.

Internet Banking - Accounts

The “Accounts” tab allows access to all of the accounts that have been selected for viewing through Online Banking. If you do not see an account that you own and would like access to, please contact us. Initially, your accounts will be titled with a generic name. As a security precaution, your account
numbers are not used over the Internet. Next to any account, you can click the drop down arrow to the right to select an option.

Transactions

This option will show your transactions for the last 30 days. You can change the transaction list by clicking since last statement, seven days, or 15days. You can also search by date, amount, or check number by utilizing the “Search” function under the tabs along the top. Online banking retains
90 days of history for your account. On deposit accounts, you can view images by clicking the check number link or a link titled “View Image”.

Download

Online Banking allows you to download account transactions into a personal finance application such as Microsoft Money. You can also download your account information into a text file or spreadsheet application such as Microsoft Excel.

To download transactions do the following:

1. Choose the account you would like to download transactions from.
2. Select the range of transactions to download.
3. Select a format for the type of software you are downloading to: C Microsoft Money (.OFX) C Personal Finance (.QIF) C Spreadsheet (.CSV) C Word Processing (.TXT)
   C Intuit® Quicken (.QFX) C Intuit® QuickBooks (.QBO)
4. Click on the “Submit” button to begin downloading. The next page will give additional instructions.

Statements

If your account statement has cycled since you have been established on Online Banking, you will be able to view your previous statements. The available statement dates will be displayed from which you may choose. After three statements have cycled, you will be able to view as many as three previous statements.

Stop Payments (paper checks only)

Using this option, you can place a stop payment on a check based upon a check number or amount. Be aware there is a $34 charge for each request that will be deducted from your account. You can select a specific check, a range of checks, or you can select a specific dollar amount. Fields marked with asterisks are required. The more information you can supply, the easier it will be to stop the proper check. After filling out the requested information, click the “Submit” button. A “New Stop Payment” page will display for you to review and edit any of the information you entered. Once you have verified the information is correct, select the “Confirm” button. Note that we are unable to place a stop payment order on checks that we have already received and paid. Stop-payment requests must be entered by 5:00 p.m. (EST) to take effect on that business day.

The stop payment request is only good for 14 days. If you wish to place a stop payment for a longer period, you must print the page, sign it and mail it to:

Farmers State Bank
Attn: Bookkeeping
220 S Detroit St.
LaGrange, IN 46761

Please remember to keep a second copy for your personal records. After the written stop payment notice is signed and received by Farmers State Bank, your stop payment order is good for six months and will not be effective after six months, unless the stop payment is renewed in writing.

Note: If you wish to place a stop payment on an electronic payment or have a watch for stolen or lost checks, please contact the Farmers State Bank Bookkeeping Department at (260) 463-7111 or (888) 492-7111.

Transfers

This option will appear for those accounts that have the transfer option available. You can transfer money one time or you can set up a scheduled recurring transfer.

To initiate a transfer request:

1. Upon choosing “Transfers”, any transfers you have scheduled will be displayed and you will have options to view, edit, or delete these pending transfers.
2. To schedule a new transfer, click “New” located under the tabs along the top.
3. Choose the accounts to transfer from and to by using the drop down arrow.
4. In the “Transfer amount” box, enter the amount that you wish to transfer; the first section is the dollar amount and the second section is the cents amount.
5. In the “Frequency” box, select the frequency using the drop down arrow.
6. “Transfer date”-- select the date you wish your transfer to occur.
7. “Transfer memo”—this field is optional. You may enter a note here, which may serve as a reminder to you of what this transfer was for.
8. To process your transfer, click on the “Submit” button at the bottom of the page. A “Transfer Confirmation” screen will appear giving you details of the transfer and a confirmation number. You should print this page for your records and contact us immediately if you do not receive a confirmation number, as the transfer will not occur.

Options Tab (to manage & organize your online account information)

This page gives you the option to change your password or Banking ID (Alias), change account names, change display options and more.

Personal

• Change E-mail Address
• You may change your E-mail address at any time.
• Watermark/Image
• Click on the image to change it.
• Change FSB Internet Banking ID
• You can change your FSB Internet Banking ID from the 12-digit bank assigned number to something easier for you to remember. The Personal ID that you choose may be up to 12 characters long. The ID cannot begin with a number, but may include numbers in it. All ID's are individual and no two persons may have the same one. If you choose an ID that has already been selected by another customer, you will be prompted to select another ID.
• Change Password/Pin - With this option, you can change your Password at any time and as many times as you wish. The password you choose must be between six and eight characters in length and must contain letters and numbers.

USERGUIDE revised May 2017

For more information, please contact us and add this feature to your account today!

220 S. Detroit Street
LaGrange, IN 46761
phone 1.260.463.7111 or 1.888.492.7111
fax 1.260.463.7341
www.FarmersStateBank.com