Mercantile Bank of Sterling-Rock Falls National Association in Sterling, Illinois (IL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 19, 1997

Mercantile Bank of Sterling-Rock Falls National Association in Sterling, Illinois (IL)
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Mercantile Bank of Sterling-Rock Falls National Association - Overview

General
FDIC Certificate #: 13759
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank of Northern Illinois (#15874)
Federal Reserve ID: 263944
Date Established: January 26, 1934
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 2 (Interstate: No)
FDIC's unique #: 8604
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 26, 1934
Last Structure Change Effective Date: April 19, 1997
Last Structure Change Process Date: May 14, 1997
Last Data Update: May 14, 1997
Data Source Date: April 05, 2012
Location
Address: 305 Fourth Avenue, Sterling, IL 61081
County: Whiteside
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
Core Based Statistical Area (CBSA): Sterling, IL (#44580)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $162.1 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$63Total assets
$164,144Cash and due from depository institutions
$5,095Interest-bearing balances
$0Securities
$58,430Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$96,955Loan loss allowance
$1,872Trading account assets
$0Bank premises and fixed assets
$1,623Other real estate owned
$77Goodwill and other intangibles
$1,795Life insurance assets
$169All other assets
$0Total liabilities and capital
$164,144Total liabilities
$147,975Total deposits
$135,683Interest-bearing deposits
$116,602Deposits held in domestic offices
135683.00%% insured (estimated)
$88Federal funds purchased & repurchase agreements
$10,943Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$1,349Total equity capital
$1,349Total bank equity capital
$16,169Perpetual preferred stock
$0Common stock
$2,000Surplus
$5,300Undivided profits
Memoranda
$8,869Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$372Income earned, not collected on loans
$618Earning assets
$155,385Long-term assets (5+ years)
$14,883Average Assets, year-to-date
$163,688Average Assets, quarterly
$162,349Volatile liabilities
$28,433Insider loans
$2,447FHLB advances
$0Loans and leases held for sale
$190Unused loan commitments
$3,088Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$15,697Total risk weighted assets
$109,253Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$11,816Total interest expense
$5,392Net interest income
$6,424Provision for loan and lease losses
$610Total noninterest income
$816Fiduciary activities
$153Service charges on deposit accounts
$384Trading account gains & fees
$0Additional noninterest income
$279Total noninterest expense
$4,404Salaries and employee benefits
$2,446Premises and equipment expense
$589Additional noninterest expense
$1,369Pre-tax net operating income
$2,226Securities gains (losses)
-$64Applicable income taxes
$554Income before extraordinary items
$1,608Extraordinary gains - net
$0Net income attributable to bank
$1,608Net charge-offs
$93Cash dividends
$1,400Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.67%Cost of funding earning assets
3.50%Net interest margin
4.17%Noninterest income to earning assets
0.53%Noninterest expense to earning assets
2.86%Net operating income to assets
1.01%Return on assets (ROA)
0.98%Pretax return on assets
1.32%Return on equity (ROE)
10.15%Retained earnings to average equity (YTD only)
1.31%Net charge-offs to loans
0.10%Credit loss provision to net charge-offs
655.91%Efficiency ratio
60,055Assets per employee
2.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
87.06%Loss allowance to loans
1.89%Loss allowance to noncurrent loans
503.23%Noncurrent assets plus other real estate owned to assets
0.27%Noncurrent loans to loans
0.38%Net loans and leases to deposits
71.46%Net loans and leases to core deposits
82.03%Equity capital to assets
9.85%Core capital (leverage) ratio
9.79%Tier 1 risk-based capital ratio
14.37%Total risk-based capital ratio
Memoranda
$16Average assets
$163,688Average earning assets
$15,839Average equity
$154,147Average loans

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