Mercantile Bank of Osceola County in Sibley, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 14, 1996

Mercantile Bank of Osceola County in Sibley, Iowa (IA)
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Mercantile Bank of Osceola County - Overview

General
FDIC Certificate #: 4502
Status: Inactive
Closing history: Corrections
Acquiring institution: Mercantile Bank MidWest (#1549)
Federal Reserve ID: 476249
Date Established: January 10, 1876
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 2974
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: January 01, 1934
Last Structure Change Effective Date: September 14, 1996
Last Structure Change Process Date: October 07, 1996
Last Data Update: December 20, 1999
Data Source Date: April 05, 2012
Location
Address: 121 Ninth Street, Sibley, IA 51249
County: Osceola
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Sioux City
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $36.3 mil

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

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$12Total assets
$37,932Cash and due from depository institutions
$1,725Interest-bearing balances
$0Securities
$2,123Federal funds sold & reverse repurchase agreements
$560Net loans & leases
$31,750Loan loss allowance
$485Trading account assets
$0Bank premises and fixed assets
$714Other real estate owned
$70Goodwill and other intangibles
$990Life insurance assets
$0All other assets
$0Total liabilities and capital
$37,932Total liabilities
$34,564Total deposits
$33,846Interest-bearing deposits
$31,990Deposits held in domestic offices
33846.00%% insured (estimated)
$89Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$245Subordinated debt
$0All other liabilities
$473Total equity capital
$473Total bank equity capital
$3,368Perpetual preferred stock
$0Common stock
$100Surplus
$2,319Undivided profits
Memoranda
$949Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$159Income earned, not collected on loans
$754Earning assets
$34,433Long-term assets (5+ years)
$1,040Average Assets, year-to-date
$38,145Average Assets, quarterly
$38,389Volatile liabilities
$5,134Insider loans
$649FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$11,402Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,366Total risk weighted assets
$31,105Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$3,140Total interest expense
$1,636Net interest income
$1,504Provision for loan and lease losses
$0Total noninterest income
$174Fiduciary activities
$0Service charges on deposit accounts
$115Trading account gains & fees
$0Additional noninterest income
$59Total noninterest expense
$965Salaries and employee benefits
$379Premises and equipment expense
$110Additional noninterest expense
$476Pre-tax net operating income
$713Securities gains (losses)
$0Applicable income taxes
$257Income before extraordinary items
$456Extraordinary gains - net
$0Net income attributable to bank
$456Net charge-offs
-$11Cash dividends
$300Sale, 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
9.03%Cost of funding earning assets
4.70%Net interest margin
4.32%Noninterest income to earning assets
0.50%Noninterest expense to earning assets
2.77%Net operating income to assets
1.20%Return on assets (ROA)
1.20%Pretax return on assets
1.87%Return on equity (ROE)
14.14%Retained earnings to average equity (YTD only)
4.84%Net charge-offs to loans
-0.03%Credit loss provision to net charge-offs
0.00%Efficiency ratio
57,509Assets per employee
3.16%Cash dividends to net income (YTD only)
Condition Ratios (%)
65.79%Loss allowance to loans
1.50%Loss allowance to noncurrent loans
305.03%Noncurrent assets plus other real estate owned to assets
0.60%Noncurrent loans to loans
0.49%Net loans and leases to deposits
93.81%Net loans and leases to core deposits
109.65%Equity capital to assets
8.88%Core capital (leverage) ratio
8.80%Tier 1 risk-based capital ratio
10.82%Total risk-based capital ratio
Memoranda
$12Average assets
$38,145Average earning assets
$3,225Average equity
$34,789Average loans

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