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

This bank is inactive as of August 17, 1996

Mercantile Bank of Cedar Rapids, Iowa in Cedar Rapids, Iowa (IA)
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Mercantile Bank of Cedar Rapids, Iowa - Overview

General
FDIC Certificate #: 10112
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank of Eastern Iowa (#11758)
Federal Reserve ID: 769549
Date Established: June 01, 1922
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Interstate: No)
FDIC's unique #: 6466
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: August 17, 1996
Last Structure Change Process Date: August 28, 1996
Last Data Update: August 28, 1996
Data Source Date: April 05, 2012
Location
Address: 1100 Old Marion Road, N.E., Cedar Rapids, IA 52402
County: Linn
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Cedar Rapids
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Cedar Rapids, IA (#1360)
Core Based Statistical Area (CBSA): Cedar Rapids, IA (#16300)
CBSA Metro Statistical Area: Cedar Rapids, IA (#16300)
Financial Summary
Total assets: $220.7 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$49Total assets
$124,261Cash and due from depository institutions
$7,550Interest-bearing balances
$0Securities
$5,583Federal funds sold & reverse repurchase agreements
$5,720Net loans & leases
$96,826Loan loss allowance
$2,468Trading account assets
$0Bank premises and fixed assets
$4,103Other real estate owned
$0Goodwill and other intangibles
$1,742Life insurance assets
$2,737All other assets
$0Total liabilities and capital
$124,261Total liabilities
$112,170Total deposits
$110,089Interest-bearing deposits
$92,288Deposits held in domestic offices
110089.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$2,081Total equity capital
$2,081Total bank equity capital
$12,091Perpetual preferred stock
$0Common stock
$735Surplus
$8,765Undivided profits
Memoranda
$2,591Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$459Income earned, not collected on loans
$682Earning assets
$108,129Long-term assets (5+ years)
$6,822Average Assets, year-to-date
$124,152Average Assets, quarterly
$125,033Volatile liabilities
$9,021Insider loans
$1,992FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$32,731Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$9,357Total risk weighted assets
$103,250Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$9,461Total interest expense
$4,194Net interest income
$5,267Provision for loan and lease losses
$0Total noninterest income
$1,703Fiduciary activities
$20Service charges on deposit accounts
$748Trading account gains & fees
$0Additional noninterest income
$935Total noninterest expense
$4,386Salaries and employee benefits
$1,489Premises and equipment expense
$625Additional noninterest expense
$2,272Pre-tax net operating income
$2,584Securities gains (losses)
$2Applicable income taxes
$977Income before extraordinary items
$1,609Extraordinary gains - net
$0Net income attributable to bank
$1,609Net charge-offs
$59Cash dividends
$3,000Sale, 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
8.80%Cost of funding earning assets
3.90%Net interest margin
4.90%Noninterest income to earning assets
1.58%Noninterest expense to earning assets
4.08%Net operating income to assets
1.29%Return on assets (ROA)
1.30%Pretax return on assets
2.08%Return on equity (ROE)
12.03%Retained earnings to average equity (YTD only)
-10.40%Net charge-offs to loans
0.06%Credit loss provision to net charge-offs
0.00%Efficiency ratio
59,857Assets per employee
2.54%Cash dividends to net income (YTD only)
Condition Ratios (%)
186.45%Loss allowance to loans
2.49%Loss allowance to noncurrent loans
537.69%Noncurrent assets plus other real estate owned to assets
0.37%Noncurrent loans to loans
0.46%Net loans and leases to deposits
87.95%Net loans and leases to core deposits
95.80%Equity capital to assets
9.73%Core capital (leverage) ratio
7.71%Tier 1 risk-based capital ratio
9.06%Total risk-based capital ratio
Memoranda
$10Average assets
$124,152Average earning assets
$13,371Average equity
$107,544Average loans

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