Merchants Bank in Jackson, Alabama (AL)

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Merchants Bank
GeneralFDIC Certificate #: 18637
Status: Active
Federal Reserve ID: 147633
Bank Holding Company (Regulatory Top Holder): Merchants Trust, Inc. (RSSDID: 1085107, Location: Jackson, AL)
Date Established: November 16, 1962
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 11078
FDIC's unique #: 12519
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: November 16, 1962
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 1901 North College Avenue, Jackson, AL 36545
County: Clarke
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Montgomery
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $206.4 mil
Equity capital: $20.0 mil
Deposits held in domestic offices: $184.5 mil
Return on assets (ROA): 0.84% ($1.7 mil)
Quarterly return on assets: 0.19% ($0.4 mil)
Return on Equity (ROE): 9.07% ($1.8 mil)
Quarterly return on equity: 1.94% ($0.4 mil)
Net income: $1.7 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.89% ($1,837.4 mil)
Quarterly Pretax return on assets: 0.25% ($516.1 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)65
Total assets$206,448
Cash and due from depository institutions$18,104
Interest-bearing balances$13,394
Federal funds sold & reverse repurchase agreements$3,360
Net loans & leases$122,789
Loan loss allowance $1,220
Trading account assets$0
Bank premises and fixed assets$7,945
Other real estate owned$807
Goodwill and other intangibles$36
All other assets$7,982
Life insurance assets$206,448
Total liabilities and capital$186,477
Total liabilities$184,534
Total deposits$165,804
Interest-bearing deposits$184,534
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,943
All other liabilities $19,971
Total equity capital$19,971
Total bank equity capital$19,971
Perpetual preferred stock$0
Common stock$400
Undivided profits $18,971
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 $2,674
Earning assets $0
Long-term assets (5+ years) $1,321
Average Assets, year-to-date $184,968
Average Assets, quarterly $26,670
Volatile liabilities $205,349
Insider loans $205,339
FHLB advances $130,121
Loans and leases held for sale $205,387
Unused loan commitments $5,024
Tier 1 (core) risk-based capital $5,024
Tier 2 risk-based capital $19,541
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,027
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,323
Total interest expense $2,338
Net interest income $7,985
Provision for loan and lease losses $807
Total noninterest income $1,717
Fiduciary activities $0
Service charges on deposit accounts $1,520
Trading account gains & fees $0
Additional noninterest income $197
Total noninterest expense $7,132
Salaries and employee benefits $4,084
Premises and equipment expense $1,066
Additional noninterest expense $1,982
Pre-tax net operating income $1,763
Securities gains (losses) $58
Applicable income taxes $87
Income before extraordinary items $1,734
Extraordinary gains - net $0
Net income attributable to bank $1,734
Net charge-offs $0
Cash dividends $1,734
Sale, conversion, retirement of capital stock, net $1,058
Net operating income $145
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.67%
Cost of funding earning assets 1.28%
Net interest margin 4.38%
Noninterest income to earning assets 0.94%
Noninterest expense to earning assets 3.92%
Net operating income to assets 0.82%
Return on assets (ROA) 0.84%
Pretax return on assets 0.89%
Return on equity (ROE) 9.07%
Retained earnings to average equity (YTD only) 8.31%
Net charge-offs to loans 0.83%
Credit loss provision to net charge-offs 76.28%
Efficiency ratio2.43%
Assets per employee$73,067
Cash dividends to net income (YTD only)3.18%
Condition Ratios (%)
Loss allowance to loans 8.36%
Loss allowance to noncurrent loans 0.98%
Noncurrent assets plus other real estate owned to assets 45.62%
Noncurrent loans to loans 1.69%
Net loans and leases to deposits2.16%
Net loans and leases to core deposits 66.54%
Equity capital to assets 71.83%
Core capital (leverage) ratio 9.67%
Tier 1 risk-based capital ratio 9.51%
Total risk-based capital ratio 15.02%
Average assets$16
Average earning assets$205,349
Average equity $19,114
Average loans $182,162
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6 Alabama Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
012519Merchants Bank1901 North College Avenue, Jackson, AL 36545November 16, 1962Full Service Brick and Mortar
1245939Downtown Branch101 College Avenue, Jackson, AL 36545May 08, 1978Full Service Brick and Mortar
3240381Grove Hill Branch103 Main Street, Grove Hill, AL 36451December 10, 1984Full Service Brick and Mortar
4361448Thomasville Branch33440 Highway 43, Thomasville, AL 36784September 05, 2000Full Service Brick and Mortar
6465727Mobile Branch1353 Cody Road South, Mobile, AL 36695June 29, 2007Full Service Brick and Mortar
7497946Mobile Branch901 Somerby Drive, Mobile, AL 36695November 05, 2009Limited Service Mobile
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