Mercantile Bank of Mount Ayr in Mount Ayr, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 14, 1996

Mercantile Bank of Mount Ayr in Mount Ayr, Iowa (IA)
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Mercantile Bank of Mount Ayr - Overview

General
FDIC Certificate #: 15507
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Mercantile Bank MidWest (#1549)
Federal Reserve ID: 702247
Date Established: January 01, 1937
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
FDIC's unique #: 9807
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: July 01, 1937
Last Structure Change Effective Date: September 14, 1996
Last Structure Change Process Date: October 07, 1996
Last Data Update: October 07, 1996
Data Source Date: April 05, 2012
Location
Address: Main Street, Mount Ayr, IA 50854
County: Ringgold
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $49.1 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$16Total assets
$51,145Cash and due from depository institutions
$1,829Interest-bearing balances
$0Securities
$14,764Federal funds sold & reverse repurchase agreements
$2,310Net loans & leases
$30,898Loan loss allowance
$702Trading account assets
$0Bank premises and fixed assets
$378Other real estate owned
$0Goodwill and other intangibles
$966Life insurance assets
$0All other assets
$0Total liabilities and capital
$51,145Total liabilities
$46,605Total deposits
$44,542Interest-bearing deposits
$40,475Deposits held in domestic offices
44542.00%% insured (estimated)
$96Federal funds purchased & repurchase agreements
$1,000Trading liabilities
$0Other borrowed funds
$791Subordinated debt
$0All other liabilities
$272Total equity capital
$272Total bank equity capital
$4,540Perpetual preferred stock
$0Common stock
$400Surplus
$2,800Undivided profits
Memoranda
$1,340Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$206Income earned, not collected on loans
$561Earning assets
$47,972Long-term assets (5+ years)
$6,642Average Assets, year-to-date
$51,405Average Assets, quarterly
$51,315Volatile liabilities
$3,227Insider loans
$149FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$18,651Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,488Total risk weighted assets
$35,654Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$3,819Total interest expense
$1,660Net interest income
$2,159Provision for loan and lease losses
$284Total noninterest income
$320Fiduciary activities
$0Service charges on deposit accounts
$234Trading account gains & fees
$0Additional noninterest income
$86Total noninterest expense
$1,279Salaries and employee benefits
$536Premises and equipment expense
$134Additional noninterest expense
$609Pre-tax net operating income
$916Securities gains (losses)
$1Applicable income taxes
$293Income before extraordinary items
$624Extraordinary gains - net
$0Net income attributable to bank
$624Net charge-offs
$49Cash dividends
$900Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.92%Cost of funding earning assets
3.44%Net interest margin
4.48%Noninterest income to earning assets
0.66%Noninterest expense to earning assets
2.65%Net operating income to assets
1.21%Return on assets (ROA)
1.21%Pretax return on assets
1.78%Return on equity (ROE)
13.31%Retained earnings to average equity (YTD only)
-5.89%Net charge-offs to loans
0.16%Credit loss provision to net charge-offs
579.59%Efficiency ratio
51,593Assets per employee
3.20%Cash dividends to net income (YTD only)
Condition Ratios (%)
144.23%Loss allowance to loans
2.22%Loss allowance to noncurrent loans
340.78%Noncurrent assets plus other real estate owned to assets
0.40%Noncurrent loans to loans
0.65%Net loans and leases to deposits
69.37%Net loans and leases to core deposits
71.68%Equity capital to assets
8.88%Core capital (leverage) ratio
8.77%Tier 1 risk-based capital ratio
12.59%Total risk-based capital ratio
Memoranda
$14Average assets
$51,405Average earning assets
$4,687Average equity
$48,214Average loans

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