Mercantile Bank of Northern Illinois in Freeport, Illinois (IL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 17, 1998

  • Mercantile Bank of Northern Illinois in Freeport, Illinois (IL)
  • Show street view No street view available for this location

Mercantile Bank of Northern Illinois - Overview

  • General
  • FDIC Certificate #: 15874
    Status: Inactive
    Closing history: Office Sold
    Acquiring institution: Mercantile Trust Company, National Association (#33854)
    Federal Reserve ID: 867034
    Date Established: January 03, 1942
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Interstate: No)
    OTS Docket #: 10294
    FDIC's unique #: 10111
    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 03, 1942
    Last Structure Change Effective Date: July 17, 1998
    Last Structure Change Process Date: August 27, 1998
    Last Data Update: August 27, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 50 West Douglas Street, Freeport, IL 61032
    County: Stephenson
    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
    Combined Statistical Area (CSA): Rockford-Freeport-Rochelle, IL (#466)
    Core Based Statistical Area (CBSA): Freeport, IL (#23300)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merger - Without Assistance
    Office Sold
  • Financial Summary
  • Total assets: $554.8 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 187Total employees (full-time equivalent)
  • $557,133Total assets
  • $23,256Cash and due from depository institutions
  • $266Interest-bearing balances
  • $113,359Securities
  • $13,280Federal funds sold & reverse repurchase agreements
  • $363,101Net loans & leases
  • $5,349Loan loss allowance
  • $0Trading account assets
  • $10,652Bank premises and fixed assets
  • $121Other real estate owned
  • $26,520Goodwill and other intangibles
  • $0Life insurance assets
  • $6,844All other assets
  • $557,133Total liabilities and capital
  • $486,727Total liabilities
  • $456,522Total deposits
  • $401,160Interest-bearing deposits
  • $456,522Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $19,528Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $7,000Other borrowed funds
  • $0Subordinated debt
  • $3,677All other liabilities
  • $70,405Total equity capital
  • $70,405Total bank equity capital
  • $70,405Perpetual preferred stock
  • $0Common stock
  • $5,003Surplus
  • $62,588Undivided profits
  • Memoranda
  • $2,814Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,631Earning assets
  • $0Long-term assets (5+ years)
  • $2,713Average Assets, year-to-date
  • $490,006Average Assets, quarterly
  • $32,328Volatile liabilities
  • $557,584Insider loans
  • $557,380FHLB advances
  • $76,944Loans and leases held for sale
  • $138Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,431Total risk weighted assets
  • $58,227Total unused commitments
  • $0Restructured Loans and leases
  • $381,708Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $40,859Total interest income
  • $18,998Total interest expense
  • $21,861Net interest income
  • $450Provision for loan and lease losses
  • $5,449Total noninterest income
  • $2,117Fiduciary activities
  • $2,038Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,294Additional noninterest income
  • $17,411Total noninterest expense
  • $7,775Salaries and employee benefits
  • $2,516Premises and equipment expense
  • $7,120Additional noninterest expense
  • $9,449Pre-tax net operating income
  • -$11Securities gains (losses)
  • $3,947Applicable income taxes
  • $5,491Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,491Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,190Sale, conversion, retirement of capital stock, net
  • $11,100Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.30%Yield on earning assets
  • 3.86%Cost of funding earning assets
  • 4.44%Net interest margin
  • 1.11%Noninterest income to earning assets
  • 3.54%Noninterest expense to earning assets
  • 0.99%Net operating income to assets
  • 0.98%Return on assets (ROA)
  • 1.69%Pretax return on assets
  • 7.54%Return on equity (ROE)
  • -7.71%Retained earnings to average equity (YTD only)
  • 0.32%Net charge-offs to loans
  • 37.82%Credit loss provision to net charge-offs
  • 8.32%Efficiency ratio
  • 56,558Assets per employee
  • 2.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 202.15%Loss allowance to loans
  • 1.45%Loss allowance to noncurrent loans
  • 115.50%Noncurrent assets plus other real estate owned to assets
  • 0.85%Noncurrent loans to loans
  • 1.26%Net loans and leases to deposits
  • 79.54%Net loans and leases to core deposits
  • 90.30%Equity capital to assets
  • 12.64%Core capital (leverage) ratio
  • 8.25%Tier 1 risk-based capital ratio
  • 11.39%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $557,584Average earning assets
  • $72,784Average equity
  • $492,067Average loans

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