Bank of Elmwood in Racine, Wisconsin (WI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 23, 2009

  • Bank of Elmwood in Racine, Wisconsin (WI)
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Bank of Elmwood - Overview

  • General
  • FDIC Certificate #: 18321
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Tri City National Bank (#18922)
    Federal Reserve ID: 264941
    Date Established: December 08, 1960
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Interstate: No)
    OTS Docket #: 14360
    FDIC's unique #: 12236
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: December 08, 1960
    Last Structure Change Effective Date: October 23, 2009
    Last Structure Change Process Date: October 26, 2009
    Last Data Update: October 26, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 2704 Lathrop Avenue, Racine, WI 53405
    County: Racine
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Milwaukee
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Racine, WI (#6600)
    Consolidated Metropolitan Statistical Area (CMSA): Milwaukee-Racine, WI (#63)
    Combined Statistical Area (CSA): Milwaukee-Racine-Waukesha, WI (#376)
    Core Based Statistical Area (CBSA): Racine, WI (#39540)
    CBSA Metro Statistical Area: Racine, WI (#39540)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $327.4 mil

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

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2008)

  • Dollar figures in thousands
  • 102Total employees (full-time equivalent)
  • $342,184Total assets
  • $8,325Cash and due from depository institutions
  • $586Interest-bearing balances
  • $24,943Securities
  • $10Federal funds sold & reverse repurchase agreements
  • $294,976Net loans & leases
  • $12,481Loan loss allowance
  • $0Trading account assets
  • $5,141Bank premises and fixed assets
  • $2,275Other real estate owned
  • $883Goodwill and other intangibles
  • $332Life insurance assets
  • $5,631All other assets
  • $342,184Total liabilities and capital
  • $330,828Total liabilities
  • $249,713Total deposits
  • $219,625Interest-bearing deposits
  • $249,713Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $22,259Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $56,388Other borrowed funds
  • $0Subordinated debt
  • $2,468All other liabilities
  • $11,356Total equity capital
  • $11,356Total bank equity capital
  • $11,356Perpetual preferred stock
  • $0Common stock
  • $469Surplus
  • $12,931Undivided profits
  • Memoranda
  • $-2,044Noncurrent loans and leases
  • $60,032Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $21,969Earning assets
  • $0Long-term assets (5+ years)
  • $1,529Average Assets, year-to-date
  • $320,515Average Assets, quarterly
  • $30,261Volatile liabilities
  • $359,972Insider loans
  • $353,717FHLB advances
  • $102,923Loans and leases held for sale
  • $2,497Unused loan commitments
  • $55,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $578Total risk weighted assets
  • $60,032Total unused commitments
  • $1,174Restructured Loans and leases
  • $3,345Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $21,886Total interest income
  • $10,072Total interest expense
  • $11,814Net interest income
  • $15,498Provision for loan and lease losses
  • $1,489Total noninterest income
  • $0Fiduciary activities
  • $673Service charges on deposit accounts
  • $0Trading account gains & fees
  • $816Additional noninterest income
  • $12,621Total noninterest expense
  • $7,040Salaries and employee benefits
  • $2,170Premises and equipment expense
  • $3,411Additional noninterest expense
  • -$14,816Pre-tax net operating income
  • $221Securities gains (losses)
  • $20Applicable income taxes
  • -$14,615Income before extraordinary items
  • $0Extraordinary gains - net
  • -$14,615Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $6,492Sale, conversion, retirement of capital stock, net
  • $407Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.47%Yield on earning assets
  • 2.98%Cost of funding earning assets
  • 3.49%Net interest margin
  • 0.44%Noninterest income to earning assets
  • 3.73%Noninterest expense to earning assets
  • -4.12%Net operating income to assets
  • -4.06%Return on assets (ROA)
  • -4.05%Pretax return on assets
  • -64.97%Return on equity (ROE)
  • -66.78%Retained earnings to average equity (YTD only)
  • 2.09%Net charge-offs to loans
  • 238.72%Credit loss provision to net charge-offs
  • 0.11%Efficiency ratio
  • 94,873Assets per employee
  • 3.35%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -2.78%Loss allowance to loans
  • 4.06%Loss allowance to noncurrent loans
  • 56.81%Noncurrent assets plus other real estate owned to assets
  • 7.09%Noncurrent loans to loans
  • 7.15%Net loans and leases to deposits
  • 118.13%Net loans and leases to core deposits
  • 159.40%Equity capital to assets
  • 3.32%Core capital (leverage) ratio
  • 3.14%Tier 1 risk-based capital ratio
  • 4.29%Total risk-based capital ratio
  • Memoranda
  • $6Average assets
  • $359,972Average earning assets
  • $22,494Average equity
  • $338,206Average loans

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