Merchants Bank in Rugby, North Dakota (ND), MT



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Merchants Bank
GeneralFDIC Certificate #: 8943
Status: Active
Federal Reserve ID: 700458
Bank Holding Company (Regulatory Top Holder): Merchants Holding Company (RSSDID: 1142206, Location: Sioux Falls, SD)
Date Established: August 04, 1897
WWW: http://www.merchantsbankrugby.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: Yes)
FDIC's unique #: 5710
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 15, 2011
Last Structure Change Process Date: October 26, 2011
Last Data Update: October 26, 2011
Data Source Date: April 05, 2012
LocationAddress: 210 Main Avenue S., Rugby, ND 58368
County: Pierce
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of ChangesOffice Purchased
Financial SummaryTotal assets: $82.9 mil
Equity capital: $7.1 mil
Deposits held in domestic offices: $75.1 mil
Return on assets (ROA): 0.88% ($0.7 mil)
Quarterly return on assets: -0.07% (-$0.1 mil)
Return on Equity (ROE): 10.34% ($0.7 mil)
Quarterly return on equity: -0.76% (-$0.1 mil)
Net income: $0.5 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 1.26% ($1,044.9 mil)
Quarterly Pretax return on assets: -0.15% (-$124.4 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)15
Total assets$82,930
Cash and due from depository institutions$6,825
Interest-bearing balances$1,475
Securities$31,319
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$42,266
Loan loss allowance $436
Trading account assets$0
Bank premises and fixed assets$637
Other real estate owned$0
Goodwill and other intangibles$770
All other assets$1,113
Life insurance assets$82,930
Total liabilities and capital$75,782
Total liabilities$75,059
Total deposits$50,789
Interest-bearing deposits$75,059
Deposits held in domestic offices$96
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $723
All other liabilities $7,148
Total equity capital$7,148
Total bank equity capital$7,148
Perpetual preferred stock$0
Common stock$1,000
Surplus$3,900
Undivided profits $2,248
Memoranda
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 $0
Earning assets $0
Long-term assets (5+ years) $828
Average Assets, year-to-date $75,060
Average Assets, quarterly $10,009
Volatile liabilities $57,405
Insider loans $67,588
FHLB advances $63,093
Loans and leases held for sale $76,041
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $6,076
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,059
Derivatives$0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,551
Total interest expense $295
Net interest income $2,256
Provision for loan and lease losses $0
Total noninterest income $103
Fiduciary activities $0
Service charges on deposit accounts $68
Trading account gains & fees $0
Additional noninterest income $35
Total noninterest expense $1,654
Salaries and employee benefits $825
Premises and equipment expense $109
Additional noninterest expense $720
Pre-tax net operating income $705
Securities gains (losses) $21
Applicable income taxes $220
Income before extraordinary items $506
Extraordinary gains - net $0
Net income attributable to bank $506
Net charge-offs $0
Cash dividends $506
Sale, conversion, retirement of capital stock, net -$1
Net operating income $400
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.83%
Cost of funding earning assets 0.56%
Net interest margin 4.27%
Noninterest income to earning assets 0.20%
Noninterest expense to earning assets 3.13%
Net operating income to assets 0.86%
Return on assets (ROA) 0.88%
Pretax return on assets 1.26%
Return on equity (ROE) 10.34%
Retained earnings to average equity (YTD only) 2.17%
Net charge-offs to loans -0.00%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$70,114
Cash dividends to net income (YTD only)5.53%
Condition Ratios (%)
Loss allowance to loans 79.05%
Loss allowance to noncurrent loans 1.02%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 56.31%
Equity capital to assets 57.55%
Core capital (leverage) ratio 8.62%
Tier 1 risk-based capital ratio 7.99%
Total risk-based capital ratio 9.63%
Memoranda
Average assets$10
Average earning assets$57,405
Average equity $4,895
Average loans $52,779
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1 Montana Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
310101Fairview Bank Branch216 South Ellery Avenue, Fairview, MT 59221December 06, 1941Full Service Brick and Mortar
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1 North Dakota Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05710Merchants Bank210 Main Avenue S., Rugby, ND 58368August 04, 1897Full Service Brick and Mortar
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