Mercantile Bank of Clay County in Spencer, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 14, 1996

Mercantile Bank of Clay County in Spencer, Iowa (IA)
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Mercantile Bank of Clay County - Overview

General
FDIC Certificate #: 4508
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank MidWest (#1549)
Federal Reserve ID: 317940
Date Established: September 01, 1927
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
OTS Docket #: 10878
FDIC's unique #: 2980
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: 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: 126 Grand Avenue, Spencer, IA 51301
County: Clay
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Spencer, IA (#43980)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $49.0 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)
$17Total assets
$52,469Cash and due from depository institutions
$2,820Interest-bearing balances
$0Securities
$8,042Federal funds sold & reverse repurchase agreements
$5,850Net loans & leases
$34,374Loan loss allowance
$794Trading account assets
$0Bank premises and fixed assets
$398Other real estate owned
$0Goodwill and other intangibles
$985Life insurance assets
$0All other assets
$0Total liabilities and capital
$52,469Total liabilities
$48,145Total deposits
$46,386Interest-bearing deposits
$41,191Deposits held in domestic offices
46386.00%% insured (estimated)
$81Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$1,500Subordinated debt
$0All other liabilities
$259Total equity capital
$259Total bank equity capital
$4,324Perpetual preferred stock
$0Common stock
$400Surplus
$2,100Undivided profits
Memoranda
$1,824Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$40Income earned, not collected on loans
$540Earning assets
$48,266Long-term assets (5+ years)
$1,144Average Assets, year-to-date
$49,278Average Assets, quarterly
$51,438Volatile liabilities
$7,651Insider loans
$1,367FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$14,086Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,266Total risk weighted assets
$35,673Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$3,705Total interest expense
$1,749Net interest income
$1,956Provision for loan and lease losses
$0Total noninterest income
$370Fiduciary activities
$0Service charges on deposit accounts
$199Trading account gains & fees
$0Additional noninterest income
$171Total noninterest expense
$1,230Salaries and employee benefits
$532Premises and equipment expense
$147Additional noninterest expense
$551Pre-tax net operating income
$1,096Securities gains (losses)
$0Applicable income taxes
$384Income before extraordinary items
$712Extraordinary gains - net
$0Net income attributable to bank
$712Net charge-offs
$2Cash dividends
$900Sale, 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
8.11%Cost of funding earning assets
3.83%Net interest margin
4.28%Noninterest income to earning assets
0.81%Noninterest expense to earning assets
2.69%Net operating income to assets
1.44%Return on assets (ROA)
1.44%Pretax return on assets
2.22%Return on equity (ROE)
16.38%Retained earnings to average equity (YTD only)
-4.32%Net charge-offs to loans
0.01%Credit loss provision to net charge-offs
0.00%Efficiency ratio
52,880Assets per employee
3.09%Cash dividends to net income (YTD only)
Condition Ratios (%)
126.40%Loss allowance to loans
2.26%Loss allowance to noncurrent loans
1985.00%Noncurrent assets plus other real estate owned to assets
0.08%Noncurrent loans to loans
0.11%Net loans and leases to deposits
74.10%Net loans and leases to core deposits
87.61%Equity capital to assets
8.24%Core capital (leverage) ratio
8.21%Tier 1 risk-based capital ratio
11.96%Total risk-based capital ratio
Memoranda
$13Average assets
$49,278Average earning assets
$4,347Average equity
$45,687Average loans

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