Mercantile Peninsula Bank in Selbyville, Delaware (DE)

Show street view No street view available for this location
Table of contents:
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
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
Undivided profits $77,434
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
Back to page top, Back to table top

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
Back to page top, Back to table top

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%
Average assets$16
Average earning assets$1,780,649
Average equity $180,107
Average loans $1,651,252
Back to page top, Back to table top

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
Back to page top, Back to table top

User Contributions:

Comment about this bank, ask questions, or add new information about it:


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Mercantile Peninsula Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.