Summit Bank of Marion in Marion, Indiana (IN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 19, 1993

Summit Bank of Marion in Marion, Indiana (IN)
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Summit Bank of Marion - Overview

General
FDIC Certificate #: 4357
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: NBD Bank, National Association (#8075)
Federal Reserve ID: 160043
Date Established: January 01, 1862
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Interstate: No)
FDIC's unique #: 2865
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: March 19, 1993
Last Structure Change Process Date: April 01, 1993
Last Data Update: April 01, 1993
Data Source Date: April 05, 2012
Location
Address: 402 South Washington Street, Marion, IN 46952
County: Grant
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
Core Based Statistical Area (CBSA): Marion, IN (#31980)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $185.1 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$120Total assets
$185,125Cash and due from depository institutions
$5,638Interest-bearing balances
$0Securities
$34,961Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$139,803Loan loss allowance
$2,015Trading account assets
$0Bank premises and fixed assets
$2,526Other real estate owned
$0Goodwill and other intangibles
$2,197Life insurance assets
$0All other assets
$0Total liabilities and capital
$185,125Total liabilities
$170,488Total deposits
$153,300Interest-bearing deposits
$130,300Deposits held in domestic offices
153300.00%% insured (estimated)
$81Federal funds purchased & repurchase agreements
$14,739Trading liabilities
$0Other borrowed funds
$1,347Subordinated debt
$0All other liabilities
$1,102Total equity capital
$1,102Total bank equity capital
$14,637Perpetual preferred stock
$0Common stock
$1,401Surplus
$5,300Undivided profits
Memoranda
$7,936Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$469Income earned, not collected on loans
$951Earning assets
$174,764Long-term assets (5+ years)
$38,463Average Assets, year-to-date
$181,441Average Assets, quarterly
$182,589Volatile liabilities
$31,836Insider loans
$221FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$17,575Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$14,637Total risk weighted assets
$136,551Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$15,542Total interest expense
$6,566Net interest income
$8,976Provision for loan and lease losses
$972Total noninterest income
$856Fiduciary activities
$0Service charges on deposit accounts
$432Trading account gains & fees
$0Additional noninterest income
$424Total noninterest expense
$5,127Salaries and employee benefits
$2,491Premises and equipment expense
$582Additional noninterest expense
$2,054Pre-tax net operating income
$3,733Securities gains (losses)
$62Applicable income taxes
$1,441Income before extraordinary items
$2,354Extraordinary gains - net
-$167Net income attributable to bank
$2,187Net charge-offs
$312Cash dividends
$1,061Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
9.11%Cost of funding earning assets
3.85%Net interest margin
5.26%Noninterest income to earning assets
0.50%Noninterest expense to earning assets
3.01%Net operating income to assets
1.28%Return on assets (ROA)
1.21%Pretax return on assets
2.00%Return on equity (ROE)
15.50%Retained earnings to average equity (YTD only)
7.98%Net charge-offs to loans
0.23%Credit loss provision to net charge-offs
311.54%Efficiency ratio
52,146Assets per employee
1.54%Cash dividends to net income (YTD only)
Condition Ratios (%)
48.51%Loss allowance to loans
1.42%Loss allowance to noncurrent loans
429.64%Noncurrent assets plus other real estate owned to assets
0.25%Noncurrent loans to loans
0.33%Net loans and leases to deposits
91.20%Net loans and leases to core deposits
101.64%Equity capital to assets
7.91%Core capital (leverage) ratio
8.09%Tier 1 risk-based capital ratio
10.72%Total risk-based capital ratio
Memoranda
$12Average assets
$181,441Average earning assets
$14,113Average equity
$170,530Average loans

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