Mercantile Bank in St. Petersburg, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 31, 2002

  • Mercantile Bank in St. Petersburg, Florida (FL)
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Mercantile Bank - Overview

  • General
  • FDIC Certificate #: 32473
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Mercantile Bank (#27515)
    Federal Reserve ID: 254577
    Date Established: May 01, 1986
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 15 (Interstate: No)
    OTS Docket #: 8301
    FDIC's unique #: 45307
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    SAIF Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: May 01, 1986
    Last Structure Change Effective Date: August 31, 2002
    Last Structure Change Process Date: October 22, 2002
    Last Data Update: October 22, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 425 22nd Avenue North, St. Petersburg, FL 33704
    County: Pinellas
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Tampa
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Tampa-St. Petersburg-Clearwater, FL (#8280)
    Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300)
    CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
  • Financial Summary
  • Total assets: $525.0 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, 2001)

  • Dollar figures in thousands
  • 195Total employees (full-time equivalent)
  • $515,030Total assets
  • $17,525Cash and due from depository institutions
  • $667Interest-bearing balances
  • $120,904Securities
  • $12,920Federal funds sold & reverse repurchase agreements
  • $330,157Net loans & leases
  • $3,410Loan loss allowance
  • $0Trading account assets
  • $12,822Bank premises and fixed assets
  • $0Other real estate owned
  • $1,282Goodwill and other intangibles
  • $0Life insurance assets
  • $19,420All other assets
  • $515,030Total liabilities and capital
  • $477,016Total liabilities
  • $427,222Total deposits
  • $335,646Interest-bearing deposits
  • $427,222Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $27,600Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $20,000Other borrowed funds
  • $0Subordinated debt
  • $2,194All other liabilities
  • $38,014Total equity capital
  • $38,014Total bank equity capital
  • $38,014Perpetual preferred stock
  • $0Common stock
  • $6,190Surplus
  • $16,023Undivided profits
  • Memoranda
  • $15,801Noncurrent loans and leases
  • $67,768Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,910Earning assets
  • $0Long-term assets (5+ years)
  • $2,310Average Assets, year-to-date
  • $464,648Average Assets, quarterly
  • $118,993Volatile liabilities
  • $485,392Insider loans
  • $503,750FHLB advances
  • $86,252Loans and leases held for sale
  • $7,827Unused loan commitments
  • $20,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $1,416Total risk weighted assets
  • $67,768Total unused commitments
  • $0Restructured Loans and leases
  • $3,410Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $33,770Total interest income
  • $14,049Total interest expense
  • $19,721Net interest income
  • $761Provision for loan and lease losses
  • $3,308Total noninterest income
  • $0Fiduciary activities
  • $1,774Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,534Additional noninterest income
  • $14,885Total noninterest expense
  • $8,397Salaries and employee benefits
  • $3,024Premises and equipment expense
  • $3,464Additional noninterest expense
  • $7,383Pre-tax net operating income
  • $431Securities gains (losses)
  • $2,715Applicable income taxes
  • $5,099Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,099Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $546Sale, conversion, retirement of capital stock, net
  • $1,000Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.70%Yield on earning assets
  • 3.21%Cost of funding earning assets
  • 4.50%Net interest margin
  • 0.75%Noninterest income to earning assets
  • 3.40%Noninterest expense to earning assets
  • 0.99%Net operating income to assets
  • 1.05%Return on assets (ROA)
  • 1.61%Pretax return on assets
  • 14.12%Return on equity (ROE)
  • 11.35%Retained earnings to average equity (YTD only)
  • 0.17%Net charge-offs to loans
  • 139.38%Credit loss provision to net charge-offs
  • 14.92%Efficiency ratio
  • 64,184Assets per employee
  • 2.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 19.61%Loss allowance to loans
  • 1.02%Loss allowance to noncurrent loans
  • 69.45%Noncurrent assets plus other real estate owned to assets
  • 0.95%Noncurrent loans to loans
  • 1.47%Net loans and leases to deposits
  • 77.28%Net loans and leases to core deposits
  • 88.38%Equity capital to assets
  • 7.38%Core capital (leverage) ratio
  • 7.37%Tier 1 risk-based capital ratio
  • 10.11%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $485,392Average earning assets
  • $36,118Average equity
  • $438,290Average loans

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