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

This bank is inactive as of August 17, 1996

Mercantile Bank of Washington in Washington, Iowa (IA)
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Mercantile Bank of Washington - Overview

General
FDIC Certificate #: 4517
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank of Eastern Iowa (#11758)
Federal Reserve ID: 556749
Date Established: December 01, 1933
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 2985
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: 300 South Iowa Avenue, Washington, IA 52353
County: Washington
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
Core Based Statistical Area (CBSA): Iowa City, IA (#26980)
CBSA Metro Statistical Area: Iowa City, IA (#26980)
Financial Summary
Total assets: $36.3 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)
$15Total assets
$38,561Cash and due from depository institutions
$3,127Interest-bearing balances
$0Securities
$10,661Federal funds sold & reverse repurchase agreements
$1,600Net loans & leases
$21,950Loan loss allowance
$421Trading account assets
$0Bank premises and fixed assets
$574Other real estate owned
$0Goodwill and other intangibles
$649Life insurance assets
$0All other assets
$0Total liabilities and capital
$38,561Total liabilities
$34,936Total deposits
$34,416Interest-bearing deposits
$29,744Deposits held in domestic offices
34416.00%% insured (estimated)
$94Federal funds purchased & repurchase agreements
$240Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$280Total equity capital
$280Total bank equity capital
$3,625Perpetual preferred stock
$0Common stock
$500Surplus
$500Undivided profits
Memoranda
$2,625Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$53Income earned, not collected on loans
$322Earning assets
$34,211Long-term assets (5+ years)
$3,689Average Assets, year-to-date
$38,584Average Assets, quarterly
$38,263Volatile liabilities
$345Insider loans
$773FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$15,682Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,442Total risk weighted assets
$24,702Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$2,647Total interest expense
$1,198Net interest income
$1,449Provision for loan and lease losses
$0Total noninterest income
$242Fiduciary activities
$0Service charges on deposit accounts
$135Trading account gains & fees
$0Additional noninterest income
$107Total noninterest expense
$1,133Salaries and employee benefits
$423Premises and equipment expense
$143Additional noninterest expense
$567Pre-tax net operating income
$558Securities gains (losses)
$1Applicable income taxes
$130Income before extraordinary items
$429Extraordinary gains - net
$0Net income attributable to bank
$429Net charge-offs
$6Cash 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
7.75%Cost of funding earning assets
3.51%Net interest margin
4.24%Noninterest income to earning assets
0.71%Noninterest expense to earning assets
3.32%Net operating income to assets
1.11%Return on assets (ROA)
1.11%Pretax return on assets
1.45%Return on equity (ROE)
11.55%Retained earnings to average equity (YTD only)
-12.69%Net charge-offs to loans
0.03%Credit loss provision to net charge-offs
0.00%Efficiency ratio
67,002Assets per employee
2.57%Cash dividends to net income (YTD only)
Condition Ratios (%)
209.79%Loss allowance to loans
1.88%Loss allowance to noncurrent loans
794.34%Noncurrent assets plus other real estate owned to assets
0.14%Noncurrent loans to loans
0.24%Net loans and leases to deposits
63.78%Net loans and leases to core deposits
63.97%Equity capital to assets
9.40%Core capital (leverage) ratio
9.02%Tier 1 risk-based capital ratio
13.93%Total risk-based capital ratio
Memoranda
$15Average assets
$38,584Average earning assets
$3,713Average equity
$34,162Average loans

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