Bank of Shorewood in Shorewood, Illinois (IL)

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Bank of Shorewood
GeneralFDIC Certificate #: 22637
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: Heartland Bank and Trust Company (#20369)
Federal Reserve ID: 239640
Date Established: April 24, 1978
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
FDIC's unique #: 15793
Numeric code: 21
Regulator: FDIC
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: April 24, 1978
Last Structure Change Effective Date: August 05, 2011
Last Structure Change Process Date: August 08, 2011
Last Data Update: August 08, 2011
Data Source Date: April 05, 2012
LocationAddress: 700 West Jefferson Street, Shorewood, IL 60431
County: Will
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Chicago
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Metropolitan Statistical Area (MSA): Chicago, IL (#1600)
Consolidated Metropolitan Statistical Area (CMSA): Chicago-Gary-Kenosha, IL-IN-WI (#14)
Combined Statistical Area (CSA): Chicago-Naperville-Michigan City, IL-IN-WI (#176)
Core Based Statistical Area (CBSA): Chicago-Joliet-Naperville, IL-IN-WI (#16980)
CBSA Metro Statistical Area: Chicago-Joliet-Naperville, IL-IN-WI (#16980)
Core Based Statistical Division: Chicago-Joliet-Naperville, IL (#16974)
Financial SummaryTotal assets: $110.7 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, 2010)
(Dollar figures in thousands)
Total employees (full-time equivalent)33
Total assets$124,712
Cash and due from depository institutions$9,933
Interest-bearing balances$8,668
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$75,187
Loan loss allowance $4,698
Trading account assets$0
Bank premises and fixed assets$5,105
Other real estate owned$5,577
Goodwill and other intangibles$0
All other assets$3,085
Life insurance assets$1,616
Total liabilities and capital$124,712
Total liabilities$120,891
Total deposits$115,319
Interest-bearing deposits$106,928
Deposits held in domestic offices$115,319
% insured (estimated)98.04%
Federal funds purchased & repurchase agreements $2,170
Trading liabilities$0
Other borrowed funds $2,774
Subordinated debt $0
All other liabilities $628
Total equity capital$3,821
Total bank equity capital$3,821
Perpetual preferred stock$3,821
Common stock$0
Undivided profits $7,245
Noncurrent loans and leases $-3,924
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,681
Income earned, not collected on loans $0
Earning assets $7,144
Long-term assets (5+ years) $0
Average Assets, year-to-date $418
Average Assets, quarterly $109,680
Volatile liabilities $17,091
Insider loans $128,192
FHLB advances $122,235
Loans and leases held for sale $40,576
Unused loan commitments $4,154
Tier 1 (core) risk-based capital $2,774
Tier 2 risk-based capital $234
Total risk weighted assets $0
Total unused commitments $5,681
Restructured Loans and leases $5,557
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Income and Expense (December 31, 2010)
(Dollar figures in thousands)
Total interest income $6,005
Total interest expense $1,987
Net interest income $4,018
Provision for loan and lease losses $4,438
Total noninterest income -$466
Fiduciary activities $0
Service charges on deposit accounts $411
Trading account gains & fees $0
Additional noninterest income -$877
Total noninterest expense $4,857
Salaries and employee benefits $1,894
Premises and equipment expense $647
Additional noninterest expense $2,316
Pre-tax net operating income -$5,743
Securities gains (losses) $203
Applicable income taxes $0
Income before extraordinary items -$5,540
Extraordinary gains - net $0
Net income attributable to bank -$5,540
Net charge-offs $0
Cash dividends -$5,540
Sale, conversion, retirement of capital stock, net $2,284
Net operating income $0
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Performance and Condition Ratios (December 31, 2010)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.32%
Cost of funding earning assets 1.76%
Net interest margin 3.56%
Noninterest income to earning assets -0.41%
Noninterest expense to earning assets 4.30%
Net operating income to assets -4.48%
Return on assets (ROA) -4.32%
Pretax return on assets -4.32%
Return on equity (ROE) -92.21%
Retained earnings to average equity (YTD only) -92.21%
Net charge-offs to loans 2.47%
Credit loss provision to net charge-offs 194.31%
Efficiency ratio-0.57%
Assets per employee$136,740
Cash dividends to net income (YTD only)3.78%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 5.88%
Noncurrent assets plus other real estate owned to assets 65.76%
Noncurrent loans to loans 10.20%
Net loans and leases to deposits8.94%
Net loans and leases to core deposits 65.20%
Equity capital to assets 97.76%
Core capital (leverage) ratio 3.06%
Tier 1 risk-based capital ratio 3.00%
Total risk-based capital ratio 4.25%
Average assets$6
Average earning assets$128,192
Average equity $6,008
Average loans $112,881
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