NorCen Bank in Culver, Indiana (IN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 01, 1995

NorCen Bank in Culver, Indiana (IN)
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NorCen Bank - Overview

General
FDIC Certificate #: 15561
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Indiana Federal Bank for Savings (#28831)
Federal Reserve ID: 100348
Date Established: January 01, 1905
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 9853
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: Febuary 01, 1995
Last Structure Change Process Date: May 12, 1995
Last Data Update: May 12, 1995
Data Source Date: April 05, 2012
Location
Address: North Main Street, Culver, IN 46511
County: Marshall
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Combined Statistical Area (CSA): South Bend-Elkhart-Mishawaka, IN-MI (#515)
Core Based Statistical Area (CBSA): Plymouth, IN (#38500)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $50.1 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$30Total assets
$50,120Cash and due from depository institutions
$1,492Interest-bearing balances
$0Securities
$17,699Federal funds sold & reverse repurchase agreements
$950Net loans & leases
$28,699Loan loss allowance
$738Trading account assets
$0Bank premises and fixed assets
$477Other real estate owned
$23Goodwill and other intangibles
$780Life insurance assets
$0All other assets
$0Total liabilities and capital
$50,120Total liabilities
$43,264Total deposits
$42,994Interest-bearing deposits
$36,803Deposits held in domestic offices
42994.00%% insured (estimated)
$89Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$270Total equity capital
$270Total bank equity capital
$6,856Perpetual preferred stock
$0Common stock
$400Surplus
$4,950Undivided profits
Memoranda
$1,506Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$678Income earned, not collected on loans
$190Earning assets
$47,348Long-term assets (5+ years)
$15,034Average Assets, year-to-date
$51,293Average Assets, quarterly
$50,988Volatile liabilities
$2,973Insider loans
$291FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$3,310Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$6,966Total risk weighted assets
$26,433Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$3,587Total interest expense
$1,582Net interest income
$2,005Provision for loan and lease losses
-$203Total noninterest income
$667Fiduciary activities
$42Service charges on deposit accounts
$90Trading account gains & fees
$0Additional noninterest income
$535Total noninterest expense
$2,204Salaries and employee benefits
$1,147Premises and equipment expense
$368Additional noninterest expense
$689Pre-tax net operating income
$671Securities gains (losses)
-$7Applicable income taxes
$0Income before extraordinary items
$664Extraordinary gains - net
$0Net income attributable to bank
$664Net charge-offs
-$228Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.39%Cost of funding earning assets
3.26%Net interest margin
4.13%Noninterest income to earning assets
1.37%Noninterest expense to earning assets
4.54%Net operating income to assets
1.31%Return on assets (ROA)
1.29%Pretax return on assets
1.29%Return on equity (ROE)
10.25%Retained earnings to average equity (YTD only)
10.25%Net charge-offs to loans
-0.78%Credit loss provision to net charge-offs
89.04%Efficiency ratio
82,485Assets per employee
1.67%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.51%Loss allowance to noncurrent loans
108.85%Noncurrent assets plus other real estate owned to assets
1.40%Noncurrent loans to loans
2.30%Net loans and leases to deposits
66.75%Net loans and leases to core deposits
71.71%Equity capital to assets
13.68%Core capital (leverage) ratio
13.64%Tier 1 risk-based capital ratio
26.35%Total risk-based capital ratio
Memoranda
$28Average assets
$51,293Average earning assets
$6,476Average equity
$48,528Average loans

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