Mercantile Bank of Boone in Boone, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 14, 1996

Mercantile Bank of Boone in Boone, Iowa (IA)
Show street view No street view available for this location

Mercantile Bank of Boone - Overview

General
FDIC Certificate #: 4427
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank MidWest (#1549)
Federal Reserve ID: 746540
Date Established: October 30, 1933
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
OTS Docket #: 11646
FDIC's unique #: 2925
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 14, 1996
Last Structure Change Process Date: October 07, 1996
Last Data Update: October 07, 1996
Data Source Date: April 05, 2012
Location
Address: 724 Story Street, Boone, IA 50036
County: Boone
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Combined Statistical Area (CSA): Ames-Boone, IA (#112)
Core Based Statistical Area (CBSA): Boone, IA (#14340)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $103.4 mil

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

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$30Total assets
$104,960Cash and due from depository institutions
$3,306Interest-bearing balances
$0Securities
$19,768Federal funds sold & reverse repurchase agreements
$2,120Net loans & leases
$75,818Loan loss allowance
$956Trading account assets
$0Bank premises and fixed assets
$1,567Other real estate owned
$0Goodwill and other intangibles
$1,797Life insurance assets
$584All other assets
$0Total liabilities and capital
$104,960Total liabilities
$95,111Total deposits
$88,790Interest-bearing deposits
$80,876Deposits held in domestic offices
88790.00%% insured (estimated)
$91Federal funds purchased & repurchase agreements
$5,601Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$720Total equity capital
$720Total bank equity capital
$9,849Perpetual preferred stock
$0Common stock
$500Surplus
$2,918Undivided profits
Memoranda
$6,431Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$64Income earned, not collected on loans
$984Earning assets
$97,706Long-term assets (5+ years)
$8,340Average Assets, year-to-date
$104,013Average Assets, quarterly
$105,016Volatile liabilities
$12,264Insider loans
$1,434FHLB advances
$0Loans and leases held for sale
$2,439Unused loan commitments
$22,639Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$9,100Total risk weighted assets
$72,749Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$7,760Total interest expense
$3,654Net interest income
$4,106Provision for loan and lease losses
$209Total noninterest income
$857Fiduciary activities
$0Service charges on deposit accounts
$342Trading account gains & fees
$0Additional noninterest income
$515Total noninterest expense
$2,644Salaries and employee benefits
$1,012Premises and equipment expense
$389Additional noninterest expense
$1,243Pre-tax net operating income
$2,110Securities gains (losses)
$1Applicable income taxes
$739Income before extraordinary items
$1,372Extraordinary gains - net
$0Net income attributable to bank
$1,372Net charge-offs
$2Cash dividends
$1,100Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.01%Cost of funding earning assets
3.77%Net interest margin
4.24%Noninterest income to earning assets
0.88%Noninterest expense to earning assets
2.73%Net operating income to assets
1.32%Return on assets (ROA)
1.32%Pretax return on assets
2.03%Return on equity (ROE)
13.98%Retained earnings to average equity (YTD only)
2.77%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
10450.00%Efficiency ratio
52,428Assets per employee
3.50%Cash dividends to net income (YTD only)
Condition Ratios (%)
80.17%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
1493.75%Noncurrent assets plus other real estate owned to assets
0.06%Noncurrent loans to loans
0.08%Net loans and leases to deposits
85.39%Net loans and leases to core deposits
92.32%Equity capital to assets
9.38%Core capital (leverage) ratio
8.45%Tier 1 risk-based capital ratio
12.51%Total risk-based capital ratio
Memoranda
$14Average assets
$104,013Average earning assets
$9,817Average equity
$96,907Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Mercantile Bank of Boone.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.