Mercantile Bank in Galena, Illinois (IL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 04, 1997

Mercantile Bank in Galena, Illinois (IL)
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Mercantile Bank - Overview

General
FDIC Certificate #: 5739
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank of Eastern Iowa (#11758)
Federal Reserve ID: 929231
Date Established: April 10, 1916
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 12924
FDIC's unique #: 3913
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 04, 1997
Last Structure Change Process Date: January 08, 1998
Last Data Update: January 08, 1998
Data Source Date: April 05, 2012
Location
Address: 115 Perry Street, Galena, IL 61036
County: Jo Daviess
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Kansas City
FDIC Field Office: Princeton
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Financial Summary
Total assets: $125.4 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$38Total assets
$129,049Cash and due from depository institutions
$3,143Interest-bearing balances
$30Securities
$30,470Federal funds sold & reverse repurchase agreements
$10,000Net loans & leases
$82,073Loan loss allowance
$2,247Trading account assets
$0Bank premises and fixed assets
$2,062Other real estate owned
$0Goodwill and other intangibles
$1,301Life insurance assets
$0All other assets
$0Total liabilities and capital
$129,049Total liabilities
$118,424Total deposits
$113,013Interest-bearing deposits
$102,472Deposits held in domestic offices
113013.00%% insured (estimated)
$90Federal funds purchased & repurchase agreements
$4,640Trading liabilities
$0Other borrowed funds
$274Subordinated debt
$0All other liabilities
$497Total equity capital
$497Total bank equity capital
$10,625Perpetual preferred stock
$0Common stock
$670Surplus
$2,422Undivided profits
Memoranda
$7,533Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$386Income earned, not collected on loans
$757Earning assets
$122,573Long-term assets (5+ years)
$8,729Average Assets, year-to-date
$133,073Average Assets, quarterly
$134,105Volatile liabilities
$18,237Insider loans
$833FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$15,820Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$10,590Total risk weighted assets
$82,429Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$10,121Total interest expense
$5,306Net interest income
$4,815Provision for loan and lease losses
$1,738Total noninterest income
$448Fiduciary activities
$0Service charges on deposit accounts
$249Trading account gains & fees
$0Additional noninterest income
$199Total noninterest expense
$3,096Salaries and employee benefits
$1,160Premises and equipment expense
$502Additional noninterest expense
$1,434Pre-tax net operating income
$429Securities gains (losses)
$7Applicable income taxes
$122Income before extraordinary items
$314Extraordinary gains - net
$0Net income attributable to bank
$314Net charge-offs
$282Cash dividends
$750Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.97%Cost of funding earning assets
4.18%Net interest margin
3.79%Noninterest income to earning assets
0.35%Noninterest expense to earning assets
2.44%Net operating income to assets
0.23%Return on assets (ROA)
0.24%Pretax return on assets
0.33%Return on equity (ROE)
2.89%Retained earnings to average equity (YTD only)
-4.02%Net charge-offs to loans
0.30%Credit loss provision to net charge-offs
616.31%Efficiency ratio
58,826Assets per employee
3.40%Cash dividends to net income (YTD only)
Condition Ratios (%)
238.85%Loss allowance to loans
2.66%Loss allowance to noncurrent loans
582.12%Noncurrent assets plus other real estate owned to assets
0.30%Noncurrent loans to loans
0.46%Net loans and leases to deposits
72.62%Net loans and leases to core deposits
82.33%Equity capital to assets
8.23%Core capital (leverage) ratio
7.92%Tier 1 risk-based capital ratio
12.85%Total risk-based capital ratio
Memoranda
$14Average assets
$133,073Average earning assets
$10,854Average equity
$126,952Average loans

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