Mercantile Peninsula Bank in Selbyville, Delaware (DE)



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Mercantile Peninsula Bank
GeneralFDIC Certificate #: 11652
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: PNC Bank, National Association (#6384)
Federal Reserve ID: 72614
Date Established: April 21, 1903
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 38 (Interstate: No)
FDIC's unique #: 7445
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 14, 2007
Last Structure Change Process Date: December 31, 2007
Last Data Update: December 31, 2007
Data Source Date: April 05, 2012
LocationAddress: Church Street, Selbyville, DE 19975
County: Sussex
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Claymont
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Core Based Statistical Area (CBSA): Seaford, DE (#42580)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $1,882.3 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, 2006)
(Dollar figures in thousands)
Total employees (full-time equivalent)383
Total assets$1,788,826
Cash and due from depository institutions$41,880
Interest-bearing balances$54
Securities$211,473
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$1,450,632
Loan loss allowance $13,574
Trading account assets$0
Bank premises and fixed assets$15,082
Other real estate owned$0
Goodwill and other intangibles$34,696
All other assets$35,063
Life insurance assets$8,673
Total liabilities and capital$1,788,826
Total liabilities$1,601,992
Total deposits$1,456,508
Interest-bearing deposits$1,080,217
Deposits held in domestic offices$1,456,508
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $78,966
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $56,700
All other liabilities $9,818
Total equity capital$186,834
Total bank equity capital$186,834
Perpetual preferred stock$186,834
Common stock$0
Surplus$9,030
Undivided profits $77,434
Memoranda
Noncurrent loans and leases $100,370
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $281,273
Income earned, not collected on loans $0
Earning assets $5,616
Long-term assets (5+ years) $0
Average Assets, year-to-date $9,306
Average Assets, quarterly $1,662,159
Volatile liabilities $196,832
Insider loans $1,780,649
FHLB advances $1,798,011
Loans and leases held for sale $291,797
Unused loan commitments $40,868
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $281,273
Restructured Loans and leases $0
Derivatives$71,463
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $118,214
Total interest expense $36,687
Net interest income $81,527
Provision for loan and lease losses -$2,669
Total noninterest income $14,409
Fiduciary activities $91
Service charges on deposit accounts $6,644
Trading account gains & fees $0
Additional noninterest income $7,674
Total noninterest expense $37,414
Salaries and employee benefits $15,555
Premises and equipment expense $3,655
Additional noninterest expense $18,204
Pre-tax net operating income $61,191
Securities gains (losses) $0
Applicable income taxes $23,070
Income before extraordinary items $38,121
Extraordinary gains - net $0
Net income attributable to bank $38,121
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $159
Net operating income $25,760
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.16%
Cost of funding earning assets 2.22%
Net interest margin 4.94%
Noninterest income to earning assets 0.87%
Noninterest expense to earning assets 2.27%
Net operating income to assets 2.14%
Return on assets (ROA) 2.14%
Pretax return on assets 3.44%
Return on equity (ROE) 21.17%
Retained earnings to average equity (YTD only) 6.86%
Net charge-offs to loans 0.01%
Credit loss provision to net charge-offs -1678.62%
Efficiency ratio368.06%
Assets per employee$38,186
Cash dividends to net income (YTD only)4.67%
Condition Ratios (%)
Loss allowance to loans 67.57%
Loss allowance to noncurrent loans 0.93%
Noncurrent assets plus other real estate owned to assets 241.70%
Noncurrent loans to loans 0.31%
Net loans and leases to deposits0.38%
Net loans and leases to core deposits 99.60%
Equity capital to assets 116.64%
Core capital (leverage) ratio 10.44%
Tier 1 risk-based capital ratio 8.72%
Total risk-based capital ratio 10.91%
Memoranda
Average assets$16
Average earning assets$1,780,649
Average equity $180,107
Average loans $1,651,252
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Total Fiduciary and Related Assets (December 31, 2006)
(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$34,109
Number of Accounts1
Personal trust and agency accounts$33,460
Employee benefit-defined contribution accounts$33,460
Employee benefit-defined benefit accounts$0
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 Accounts13
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$649
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$649
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