Bridge Community Bank in Mount Vernon, Iowa (IA)



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Bridge Community Bank
GeneralFDIC Certificate #: 12717
Status: Active
Federal Reserve ID: 882541
Bank Holding Company (Regulatory Top Holder): Bridge Community Bank Esop (RSSDID: 1827923, Location: Mechanicsville, IA)
Date Established: September 08, 1903
WWW: http://www.bankatbridge.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 8065
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 302 Highway 1 South, Mount Vernon, IA 52314
County: Linn
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
Metropolitan Statistical Area (MSA): Cedar Rapids, IA (#1360)
Core Based Statistical Area (CBSA): Cedar Rapids, IA (#16300)
CBSA Metro Statistical Area: Cedar Rapids, IA (#16300)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $68.2 mil
Equity capital: $6.8 mil
Deposits held in domestic offices: $60.7 mil
Return on assets (ROA): 1.00% ($0.7 mil)
Quarterly return on assets: 1.02% ($0.7 mil)
Return on Equity (ROE): 10.03% ($0.7 mil)
Quarterly return on equity: 10.10% ($0.7 mil)
Net income: $0.6 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.36% ($928.2 mil)
Quarterly Pretax return on assets: 1.58% ($1,078.3 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)17
Total assets$68,248
Cash and due from depository institutions$4,933
Interest-bearing balances$4,165
Securities$14,186
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$45,275
Loan loss allowance $593
Trading account assets$0
Bank premises and fixed assets$2,037
Other real estate owned$40
Goodwill and other intangibles$0
All other assets$1,777
Life insurance assets$68,248
Total liabilities and capital$61,434
Total liabilities$60,654
Total deposits$49,712
Interest-bearing deposits$60,654
Deposits held in domestic offices$83
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$135
Other borrowed funds $0
Subordinated debt $645
All other liabilities $6,814
Total equity capital$6,814
Total bank equity capital$6,814
Perpetual preferred stock$0
Common stock$200
Surplus$800
Undivided profits $5,814
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $415
Earning assets $0
Long-term assets (5+ years) $407
Average Assets, year-to-date $63,626
Average Assets, quarterly $9,643
Volatile liabilities $64,229
Insider loans $66,735
FHLB advances $49,019
Loans and leases held for sale $66,349
Unused loan commitments $575
Tier 1 (core) risk-based capital $575
Tier 2 risk-based capital $6,511
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,943
Derivatives$197
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,860
Total interest expense $479
Net interest income $2,381
Provision for loan and lease losses $175
Total noninterest income $634
Fiduciary activities $1
Service charges on deposit accounts $396
Trading account gains & fees $0
Additional noninterest income $237
Total noninterest expense $1,994
Salaries and employee benefits $1,270
Premises and equipment expense $348
Additional noninterest expense $376
Pre-tax net operating income $846
Securities gains (losses) $28
Applicable income taxes $234
Income before extraordinary items $640
Extraordinary gains - net $0
Net income attributable to bank $640
Net charge-offs $0
Cash dividends $640
Sale, conversion, retirement of capital stock, net $44
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.82%
Cost of funding earning assets 0.81%
Net interest margin 4.01%
Noninterest income to earning assets 1.07%
Noninterest expense to earning assets 3.36%
Net operating income to assets 0.96%
Return on assets (ROA) 1.00%
Pretax return on assets 1.36%
Return on equity (ROE) 10.03%
Retained earnings to average equity (YTD only) 10.03%
Net charge-offs to loans 0.10%
Credit loss provision to net charge-offs 397.73%
Efficiency ratio23.20%
Assets per employee$66,136
Cash dividends to net income (YTD only)4.01%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.29%
Noncurrent assets plus other real estate owned to assets 142.89%
Noncurrent loans to loans 1.25%
Net loans and leases to deposits0.90%
Net loans and leases to core deposits 74.64%
Equity capital to assets 75.85%
Core capital (leverage) ratio 9.98%
Tier 1 risk-based capital ratio 9.81%
Total risk-based capital ratio 13.28%
Memoranda
Average assets$14
Average earning assets$64,229
Average equity $6,381
Average loans $59,349
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$6,774
Number of Accounts1
Personal trust and agency accounts$6,721
Employee benefit-defined contribution accounts$1,114
Employee benefit-defined benefit accounts$5,607
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts17
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$53
Corporate trust and agency accounts$53
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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3 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08065Bridge Community Bank302 Highway 1 South, Mount Vernon, IA 52314September 08, 1903Full Service Brick and Mortar
1227813Mechanicsville Branch200 South Cherry Street, Mechanicsville, IA 52306June 29, 1998Full Service Brick and Mortar
2493992Bridge Community Bank - Solon Branch405 East 5th Street, Solon, IA 52333July 27, 2009Full Service Brick and Mortar
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