Mechanics & Farmers Bank in Durham, North Carolina (NC)



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Mechanics & Farmers Bank routing number info

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Mechanics & Farmers Bank
GeneralFDIC Certificate #: 12266
Status: Active
Federal Reserve ID: 332224
Bank Holding Company (Regulatory Top Holder): M&F Bancorp, Inc. (RSSDID: 2807810, Location: Durham, NC)
Date Established: March 01, 1908
WWW: http://www.mfbonline.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 13322
FDIC's unique #: 7798
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 28, 2008
Last Structure Change Process Date: April 04, 2008
Last Data Update: April 04, 2008
Data Source Date: April 05, 2012
LocationAddress: 116 West Parrish Street, Durham, NC 27702
County: Durham
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Raleigh
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Raleigh-Durham-Chapel Hill, NC (#6640)
Combined Statistical Area (CSA): Raleigh-Durham-Cary, NC (#450)
Core Based Statistical Area (CBSA): Durham-Chapel Hill, NC (#20500)
CBSA Metro Statistical Area: Durham-Chapel Hill, NC (#20500)
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $301.5 mil
Equity capital: $33.9 mil
Deposits held in domestic offices: $260.7 mil
Return on assets (ROA): 0.23% ($0.7 mil)
Quarterly return on assets: -0.04% (-$0.1 mil)
Return on Equity (ROE): 2.03% ($0.7 mil)
Quarterly return on equity: -0.38% (-$0.1 mil)
Net income: $0.7 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 0.29% ($874.2 mil)
Quarterly Pretax return on assets: -0.16% (-$482.3 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)76
Total assets$301,458
Cash and due from depository institutions$61,296
Interest-bearing balances$59,120
Securities$37,595
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$182,361
Loan loss allowance $3,789
Trading account assets$0
Bank premises and fixed assets$4,663
Other real estate owned$3,069
Goodwill and other intangibles$46
All other assets$12,428
Life insurance assets$301,458
Total liabilities and capital$267,516
Total liabilities$260,744
Total deposits$210,364
Interest-bearing deposits$260,744
Deposits held in domestic offices$89
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,015
Other borrowed funds $0
Subordinated debt $5,757
All other liabilities $33,942
Total equity capital$33,942
Total bank equity capital$33,942
Perpetual preferred stock$0
Common stock$2,846
Surplus$13,143
Undivided profits $17,953
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 $14,658
Earning assets $40
Long-term assets (5+ years) $667
Average Assets, year-to-date $279,076
Average Assets, quarterly $52,582
Volatile liabilities $305,449
Insider loans $302,542
FHLB advances $190,266
Loans and leases held for sale $299,796
Unused loan commitments $5,768
Tier 1 (core) risk-based capital $5,768
Tier 2 risk-based capital $31,838
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $23,769
Derivatives$2,577
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,340
Total interest expense $1,315
Net interest income $11,025
Provision for loan and lease losses $842
Total noninterest income $1,303
Fiduciary activities $0
Service charges on deposit accounts $842
Trading account gains & fees $0
Additional noninterest income $461
Total noninterest expense $10,955
Salaries and employee benefits $5,549
Premises and equipment expense $1,235
Additional noninterest expense $4,171
Pre-tax net operating income $531
Securities gains (losses) $340
Applicable income taxes $180
Income before extraordinary items $691
Extraordinary gains - net $0
Net income attributable to bank $691
Net charge-offs $0
Cash dividends $691
Sale, conversion, retirement of capital stock, net $905
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 assets4.35%
Cost of funding earning assets 0.46%
Net interest margin 3.89%
Noninterest income to earning assets 0.46%
Noninterest expense to earning assets 3.86%
Net operating income to assets 0.14%
Return on assets (ROA) 0.23%
Pretax return on assets 0.29%
Return on equity (ROE) 2.03%
Retained earnings to average equity (YTD only) 2.03%
Net charge-offs to loans 0.46%
Credit loss provision to net charge-offs 93.04%
Efficiency ratio1.52%
Assets per employee$88,863
Cash dividends to net income (YTD only)3.97%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.04%
Noncurrent assets plus other real estate owned to assets 25.85%
Noncurrent loans to loans 5.88%
Net loans and leases to deposits7.87%
Net loans and leases to core deposits 69.94%
Equity capital to assets 118.00%
Core capital (leverage) ratio 11.26%
Tier 1 risk-based capital ratio 10.62%
Total risk-based capital ratio 16.73%
Memoranda
Average assets$18
Average earning assets$305,449
Average equity $34,019
Average loans $283,449
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8 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07798Mechanics & Farmers Bank116 West Parrish Street, Durham, NC 27702March 01, 1908Full Service Brick and Mortar
1226799Charlotte Branch101 Beatties Ford Road, Charlotte, NC 28208March 01, 1962Full Service Brick and Mortar
2226800Chapel Hill Blvd Branch2705 Chapel Hill Blvd, Durham, NC 27707January 15, 1954Full Service Brick and Mortar
4226802Raleigh Branch13 East Hargett Street, Raleigh, NC 27601January 06, 1923Full Service Brick and Mortar
7226805Rock Quarry Road Branch1824 Rock Quarry Road, Raleigh, NC 27610June 23, 1977Full Service Brick and Mortar
8226806Winston-Salem Branch770 M.L. King Blvd., Winston Salem, NC 27101September 19, 1981Full Service Brick and Mortar
9357883M&F Bank Corporate Branch2634 Chapel Hill Blvd, Durham, NC 27707October 18, 1999Limited Service Administrative
1314171100 South Murrow Boulevard Branch100 South Murrow Boulevard, Greensboro, NC 27401November 02, 1971Full Service Brick and Mortar
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