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

This bank is inactive as of September 14, 1996

Mercantile Bank of Jasper County in Newton, Iowa (IA)
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Mercantile Bank of Jasper County - Overview

General
FDIC Certificate #: 962
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank MidWest (#1549)
Federal Reserve ID: 235343
Date Established: August 01, 1869
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 11186
FDIC's unique #: 630
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: 112 West Second Street South, Newton, IA 50208
County: Jasper
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): Des Moines-Newton-Pella, IA (#218)
Core Based Statistical Area (CBSA): Newton, IA (#35500)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $143.0 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)
$51Total assets
$145,998Cash and due from depository institutions
$6,257Interest-bearing balances
$0Securities
$33,313Federal funds sold & reverse repurchase agreements
$10,990Net loans & leases
$91,201Loan loss allowance
$1,319Trading account assets
$0Bank premises and fixed assets
$1,938Other real estate owned
$0Goodwill and other intangibles
$2,299Life insurance assets
$0All other assets
$0Total liabilities and capital
$145,998Total liabilities
$133,571Total deposits
$131,802Interest-bearing deposits
$115,023Deposits held in domestic offices
131802.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$1,000Trading liabilities
$0Other borrowed funds
$78Subordinated debt
$0All other liabilities
$691Total equity capital
$691Total bank equity capital
$12,427Perpetual preferred stock
$0Common stock
$500Surplus
$6,000Undivided profits
Memoranda
$5,927Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$436Income earned, not collected on loans
$1,323Earning assets
$135,504Long-term assets (5+ years)
$12,754Average Assets, year-to-date
$141,713Average Assets, quarterly
$146,736Volatile liabilities
$4,749Insider loans
$77FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$48,566Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$12,279Total risk weighted assets
$100,883Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$10,823Total interest expense
$4,456Net interest income
$6,367Provision for loan and lease losses
$265Total noninterest income
$1,292Fiduciary activities
$46Service charges on deposit accounts
$645Trading account gains & fees
$0Additional noninterest income
$601Total noninterest expense
$4,177Salaries and employee benefits
$1,722Premises and equipment expense
$563Additional noninterest expense
$1,892Pre-tax net operating income
$3,217Securities gains (losses)
$1Applicable income taxes
$1,116Income before extraordinary items
$2,102Extraordinary gains - net
$0Net income attributable to bank
$2,102Net charge-offs
$82Cash dividends
$2,900Sale, 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
8.28%Cost of funding earning assets
3.41%Net interest margin
4.87%Noninterest income to earning assets
0.99%Noninterest expense to earning assets
3.20%Net operating income to assets
1.48%Return on assets (ROA)
1.48%Pretax return on assets
2.27%Return on equity (ROE)
16.33%Retained earnings to average equity (YTD only)
-6.20%Net charge-offs to loans
0.09%Credit loss provision to net charge-offs
323.17%Efficiency ratio
54,537Assets per employee
2.86%Cash dividends to net income (YTD only)
Condition Ratios (%)
137.96%Loss allowance to loans
1.43%Loss allowance to noncurrent loans
302.52%Noncurrent assets plus other real estate owned to assets
0.30%Noncurrent loans to loans
0.47%Net loans and leases to deposits
69.20%Net loans and leases to core deposits
71.18%Equity capital to assets
8.51%Core capital (leverage) ratio
8.39%Tier 1 risk-based capital ratio
12.17%Total risk-based capital ratio
Memoranda
$13Average assets
$141,713Average earning assets
$12,873Average equity
$130,649Average loans

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