FDIC Certificate #: 24541 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Mercantile Bank (#27515) Federal Reserve ID: 941532 Date Established: April 15, 1983 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 5 (Interstate: No) FDIC's unique #: 17046 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: April 15, 1983 Last Structure Change Effective Date: July 01, 1999 Last Structure Change Process Date: July 20, 1999 Last Data Update: July 20, 1999 Data Source Date: April 05, 2012
Location
Address: 500 North Summit Street, Crescent City, FL 32112 County: Putnam Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Gainesville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Core Based Statistical Area (CBSA): Palatka, FL (#37260) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $60.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
34Total employees (full-time equivalent)
$57,182Total assets
$3,322Cash and due from depository institutions
$0Interest-bearing balances
$10,301Securities
$4,643Federal funds sold & reverse repurchase agreements
$36,371Net loans & leases
$374Loan loss allowance
$0Trading account assets
$1,073Bank premises and fixed assets
$172Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,300All other assets
$57,182Total liabilities and capital
$52,366Total liabilities
$51,885Total deposits
$41,586Interest-bearing deposits
$51,885Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$481All other liabilities
$4,816Total equity capital
$4,816Total bank equity capital
$4,816Perpetual preferred stock
$0Common stock
$1,099Surplus
$1,190Undivided profits
Memoranda
$2,527Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$455Earning assets
$208Long-term assets (5+ years)
$323Average Assets, year-to-date
$51,315Average Assets, quarterly
$16,632Volatile liabilities
$54,832Insider loans
$55,909FHLB advances
$4,131Loans and leases held for sale
$1,582Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,732Total unused commitments
$0Restructured Loans and leases
$34,052Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$4,144Total interest income
$1,606Total interest expense
$2,538Net interest income
$10Provision for loan and lease losses
$411Total noninterest income
$0Fiduciary activities
$338Service charges on deposit accounts
$0Trading account gains & fees
$73Additional noninterest income
$2,241Total noninterest expense
$1,132Salaries and employee benefits
$379Premises and equipment expense
$730Additional noninterest expense
$698Pre-tax net operating income
-$1Securities gains (losses)
$235Applicable income taxes
$462Income before extraordinary items
$0Extraordinary gains - net
$462Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$45Sale, conversion, retirement of capital stock, net
$88Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.43%Yield on earning assets
3.27%Cost of funding earning assets
5.16%Net interest margin
0.84%Noninterest income to earning assets
4.56%Noninterest expense to earning assets
0.84%Net operating income to assets
0.84%Return on assets (ROA)
1.27%Pretax return on assets
9.98%Return on equity (ROE)
8.08%Retained earnings to average equity (YTD only)
0.12%Net charge-offs to loans
22.22%Credit loss provision to net charge-offs
15.73%Efficiency ratio
75,992Assets per employee
1.68%Cash dividends to net income (YTD only)
Condition Ratios (%)
19.05%Loss allowance to loans
1.02%Loss allowance to noncurrent loans
82.20%Noncurrent assets plus other real estate owned to assets
0.88%Noncurrent loans to loans
1.24%Net loans and leases to deposits
70.10%Net loans and leases to core deposits
76.16%Equity capital to assets
8.42%Core capital (leverage) ratio
8.70%Tier 1 risk-based capital ratio
14.13%Total risk-based capital ratio
Memoranda
$15Average assets
$54,832Average earning assets
$4,628Average equity
$49,185Average loans
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