Mechanics Bank in Water Valley, Mississippi (MS)

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Mechanics Bank
GeneralFDIC Certificate #: 12206
Status: Active
Federal Reserve ID: 752644
Bank Holding Company (Regulatory Top Holder): Mechanics Banc Holding Company (RSSDID: 3165106, Location: Water Valley, MS)
Date Established: January 01, 1892
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 15924
FDIC's unique #: 7754
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending 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: 319 North Main Street, Water Valley, MS 38965
County: Yalobusha
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Memphis
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $198.8 mil
Equity capital: $19.4 mil
Deposits held in domestic offices: $178.0 mil
Return on assets (ROA): 0.83% ($1.7 mil)
Quarterly return on assets: 0.72% ($1.4 mil)
Return on Equity (ROE): 8.91% ($1.7 mil)
Quarterly return on equity: 7.33% ($1.4 mil)
Net income: $1.7 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.10% ($2,186.6 mil)
Quarterly Pretax return on assets: 0.72% ($1,431.2 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)62
Total assets$198,780
Cash and due from depository institutions$5,077
Interest-bearing balances$1,234
Federal funds sold & reverse repurchase agreements$6,617
Net loans & leases$123,640
Loan loss allowance $2,069
Trading account assets$0
Bank premises and fixed assets$6,417
Other real estate owned$2,200
Goodwill and other intangibles$200
All other assets$6,821
Life insurance assets$198,780
Total liabilities and capital$179,422
Total liabilities$178,013
Total deposits$152,116
Interest-bearing deposits$178,013
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$437
Other borrowed funds $0
Subordinated debt $972
All other liabilities $19,358
Total equity capital$19,358
Total bank equity capital$19,358
Perpetual preferred stock$0
Common stock$288
Undivided profits $5,820
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,694
Income earned, not collected on loans $1,821
Earning assets $253
Long-term assets (5+ years) $1,189
Average Assets, year-to-date $179,299
Average Assets, quarterly $31,792
Volatile liabilities $200,231
Insider loans $199,418
FHLB advances $129,951
Loans and leases held for sale $196,974
Unused loan commitments $3,196
Tier 1 (core) risk-based capital $2,935
Tier 2 risk-based capital $17,779
Total risk weighted assets $0
Total unused commitments $261
Restructured Loans and leases $5,336
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,986
Total interest expense $2,572
Net interest income $7,414
Provision for loan and lease losses $766
Total noninterest income $1,528
Fiduciary activities $0
Service charges on deposit accounts $843
Trading account gains & fees $0
Additional noninterest income $685
Total noninterest expense $6,120
Salaries and employee benefits $3,143
Premises and equipment expense $659
Additional noninterest expense $2,318
Pre-tax net operating income $2,056
Securities gains (losses) $156
Applicable income taxes $550
Income before extraordinary items $1,662
Extraordinary gains - net $0
Net income attributable to bank $1,662
Net charge-offs $0
Cash dividends $1,662
Sale, conversion, retirement of capital stock, net $393
Net operating income $674
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.58%
Cost of funding earning assets 1.44%
Net interest margin 4.14%
Noninterest income to earning assets 0.85%
Noninterest expense to earning assets 3.42%
Net operating income to assets 0.77%
Return on assets (ROA) 0.83%
Pretax return on assets 1.10%
Return on equity (ROE) 8.91%
Retained earnings to average equity (YTD only) 5.30%
Net charge-offs to loans 0.31%
Credit loss provision to net charge-offs 194.91%
Efficiency ratio7.18%
Assets per employee$68,441
Cash dividends to net income (YTD only)3.21%
Condition Ratios (%)
Loss allowance to loans 40.55%
Loss allowance to noncurrent loans 1.65%
Noncurrent assets plus other real estate owned to assets 113.62%
Noncurrent loans to loans 2.02%
Net loans and leases to deposits1.45%
Net loans and leases to core deposits 69.46%
Equity capital to assets 77.71%
Core capital (leverage) ratio 9.74%
Tier 1 risk-based capital ratio 9.03%
Total risk-based capital ratio 13.68%
Average assets$15
Average earning assets$200,231
Average equity $18,650
Average loans $179,112
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Total Fiduciary and Related Assets (December 31, 2007)
(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$4,366
Number of Accounts1
Personal trust and agency accounts$2,996
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$2,996
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 Accounts7
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$1,370
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,370
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6 Mississippi Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07754Mechanics Bank319 North Main Street, Water Valley, MS 38965January 01, 1892Full Service Brick and Mortar
1226672Drive-In Facility321 Duncan Street, Water Valley, MS 38965July 08, 1977Limited Service Facility
4226675Eastgate Branch1936 University Avenue, Oxford, MS 38655December 21, 1994Full Service Brick and Mortar
7423246South Main Street Branch321 South Main Street, Water Valley, MS 38965October 30, 2003Full Service Brick and Mortar
8440118West Jackson Branch2601 Jackson Avenue West, Oxford, MS 38655May 02, 2005Full Service Brick and Mortar
9468795University Avenue Branch1508 University Avenue, Oxford, MS 38655October 29, 2007Full Service Brick and Mortar
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