FDIC Certificate #: 28153 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:MutualBank (#27744) Federal Reserve ID: 673075 Date Established: January 01, 1889 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 1004 FDIC's unique #: 40987 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: March 22, 1937 Last Structure Change Effective Date: July 18, 2008 Last Structure Change Process Date: July 24, 2008 Last Data Update: July 24, 2008 Data Source Date: April 05, 2012
Location
Address: 4100 Edison Lakes Parkway, Mishawaka, IN 46545 County: St Joseph Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Indianapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Metropolitan Statistical Area (MSA): South Bend, IN (#7800) Combined Statistical Area (CSA): South Bend-Elkhart-Mishawaka, IN-MI (#515) Core Based Statistical Area (CBSA): South Bend-Mishawaka, IN-MI (#43780) CBSA Metro Statistical Area: South Bend-Mishawaka, IN-MI (#43780)
Financial Summary
Total assets: $476.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2011 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, 2007)
Dollar figures in thousands
161Total employees (full-time equivalent)
$513,833Total assets
$31,447Cash and due from depository institutions
$18,847Interest-bearing balances
$31,257Securities
$0Federal funds sold & reverse repurchase agreements
$400,083Net loans & leases
$2,848Loan loss allowance
$0Trading account assets
$19,234Bank premises and fixed assets
$290Other real estate owned
$5,987Goodwill and other intangibles
$10,662Life insurance assets
$25,535All other assets
$513,834Total liabilities and capital
$468,959Total liabilities
$339,035Total deposits
$299,746Interest-bearing deposits
$339,035Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$127,052Other borrowed funds
$0Subordinated debt
$2,872All other liabilities
$44,875Total equity capital
$44,875Total bank equity capital
$44,875Perpetual preferred stock
$0Common stock
$0Surplus
$18,880Undivided profits
Memoranda
$25,995Noncurrent loans and leases
$88,581Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,612Earning assets
$0Long-term assets (5+ years)
$2,124Average Assets, year-to-date
$450,187Average Assets, quarterly
$0Volatile liabilities
$506,586Insider loans
$512,198FHLB advances
$176,423Loans and leases held for sale
$3,326Unused loan commitments
$127,052Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$88,581Total unused commitments
$1,743Restructured Loans and leases
$2,848Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$29,494Total interest income
$15,703Total interest expense
$13,791Net interest income
$127Provision for loan and lease losses
$5,713Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$5,713Additional noninterest income
$16,061Total noninterest expense
$9,221Salaries and employee benefits
$3,046Premises and equipment expense
$3,794Additional noninterest expense
$3,316Pre-tax net operating income
$314Securities gains (losses)
$754Applicable income taxes
$2,876Income before extraordinary items
$0Extraordinary gains - net
$2,876Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$458Sale, conversion, retirement of capital stock, net
$6,000Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.54%Yield on earning assets
3.48%Cost of funding earning assets
3.06%Net interest margin
1.27%Noninterest income to earning assets
3.56%Noninterest expense to earning assets
0.52%Net operating income to assets
0.57%Return on assets (ROA)
0.72%Pretax return on assets
6.29%Return on equity (ROE)
-6.84%Retained earnings to average equity (YTD only)
-0.12%Net charge-offs to loans
-27.73%Credit loss provision to net charge-offs
0.00%Efficiency ratio
80,353Assets per employee
3.19%Cash dividends to net income (YTD only)
Condition Ratios (%)
208.62%Loss allowance to loans
0.71%Loss allowance to noncurrent loans
109.04%Noncurrent assets plus other real estate owned to assets
0.56%Noncurrent loans to loans
0.65%Net loans and leases to deposits
118.01%Net loans and leases to core deposits
138.12%Equity capital to assets
8.73%Core capital (leverage) ratio
7.69%Tier 1 risk-based capital ratio
10.07%Total risk-based capital ratio
Memoranda
$11Average assets
$506,586Average earning assets
$45,699Average equity
$450,945Average loans
Total Fiduciary and Related Assets (December 31, 2007)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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