Merchants & Southern Bank in Gainesville, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Merchants & Southern Bank in Gainesville, Florida (FL)
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Merchants & Southern Bank - Overview

  • General
  • FDIC Certificate #: 18116
    Status: Active
    Federal Reserve ID: 726234
    Bank Holding Company (Regulatory Top Holder): Merchants & Southern Banks Of Florida, Inc. (RSSDID: 1082469, Location: Gainesville, FL)
    Date Established: November 25, 1959
    WWW: http://www.msbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 14 (Domestic: 14, Interstate: No)
    OTS Docket #: 11612
    FDIC's unique #: 12038
    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 25, 1959
    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
  • Location
  • Address: 3361 North Main Street, Gainesville, FL 32602
    County: Alachua
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Gainesville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Gainesville, FL (#2900)
    Core Based Statistical Area (CBSA): Gainesville, FL (#23540)
    CBSA Metro Statistical Area: Gainesville, FL (#23540)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $392.7 mil
    Equity capital: $35.0 mil
    Deposits held in domestic offices: $315.5 mil
    Return on assets (ROA): 0.47% ($1.8 mil)
    Quarterly return on assets: -0.19% (-$0.7 mil)
    Return on Equity (ROE): 5.56% ($1.9 mil)
    Quarterly return on equity: -2.11% (-$0.7 mil)
    Net income: $1.8 mil
    Quarterly Net income: -$0.2 mil
    Pretax return on assets: 0.47% ($1,845.5 mil)
    Quarterly Pretax return on assets: -0.19% (-$746.1 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
  • 123Total employees (full-time equivalent)
  • $392,663Total assets
  • $13,424Cash and due from depository institutions
  • $2,919Interest-bearing balances
  • $107,543Securities
  • $8,143Federal funds sold & reverse repurchase agreements
  • $233,912Net loans & leases
  • $5,825Loan loss allowance
  • $0Trading account assets
  • $16,014Bank premises and fixed assets
  • $9,253Other real estate owned
  • $0Goodwill and other intangibles
  • $392,663Life insurance assets
  • $4,374All other assets
  • $357,698Total liabilities and capital
  • $315,496Total liabilities
  • $238,765Total deposits
  • $315,496Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 26861.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $12,240Trading liabilities
  • $0Other borrowed funds
  • $3,101Subordinated debt
  • $34,965All other liabilities
  • $34,965Total equity capital
  • $34,965Total bank equity capital
  • $0Perpetual preferred stock
  • $1,440Common stock
  • $9,521Surplus
  • $24,004Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $162Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,830Income earned, not collected on loans
  • $0Earning assets
  • $1,075Long-term assets (5+ years)
  • $352,517Average Assets, year-to-date
  • $178,869Average Assets, quarterly
  • $389,161Volatile liabilities
  • $391,180Insider loans
  • $256,036FHLB advances
  • $404,552Loans and leases held for sale
  • $473Unused loan commitments
  • $473Tier 1 (core) risk-based capital
  • $32,844Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,786Restructured Loans and leases
  • $22,324Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,833Total interest income
  • $2,760Total interest expense
  • $13,073Net interest income
  • $1,341Provision for loan and lease losses
  • $968Total noninterest income
  • $0Fiduciary activities
  • $1,326Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$358Additional noninterest income
  • $10,870Total noninterest expense
  • $5,822Salaries and employee benefits
  • $1,919Premises and equipment expense
  • $3,129Additional noninterest expense
  • $1,830Pre-tax net operating income
  • $3Securities gains (losses)
  • $0Applicable income taxes
  • $1,833Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,833Net income attributable to bank
  • $0Net charge-offs
  • $1,833Cash dividends
  • $3,725Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.55%Yield on earning assets
  • 0.79%Cost of funding earning assets
  • 3.75%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 3.12%Noninterest expense to earning assets
  • 0.47%Net operating income to assets
  • 0.47%Return on assets (ROA)
  • 0.47%Pretax return on assets
  • 5.56%Return on equity (ROE)
  • 5.56%Retained earnings to average equity (YTD only)
  • 1.46%Net charge-offs to loans
  • 36.00%Credit loss provision to net charge-offs
  • 0.85%Efficiency ratio
  • 77,416Assets per employee
  • 3.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.43%Loss allowance to noncurrent loans
  • 39.28%Noncurrent assets plus other real estate owned to assets
  • 6.13%Noncurrent loans to loans
  • 6.19%Net loans and leases to deposits
  • 74.14%Net loans and leases to core deposits
  • 77.74%Equity capital to assets
  • 8.90%Core capital (leverage) ratio
  • 8.12%Tier 1 risk-based capital ratio
  • 12.83%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $389,161Average earning assets
  • $32,957Average equity
  • $348,286Average loans

List of branches

  • 14 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012038Merchants & Southern Bank3361 North Main Street, Gainesville, FL 32602November 25, 1959Full Service Brick and Mortar
    1243953Melrose BranchHighway 26 And Quail Street, Melrose, FL 32666October 15, 1982Full Service Brick and Mortar
    2243954High Springs Branch915 North Main Street, High Springs, FL 32643August 01, 1985Full Service Brick and Mortar
    3243955Hawthorne Branch1 Johnson Street, Hawthorne, FL 32640November 18, 1985Full Service Brick and Mortar
    5243957Ocala Branch412 Northeast Tenth Street, Ocala, FL 34475March 26, 1988Full Service Brick and Mortar
    6259360Tower Center Branch305 N.W. 75th Street, Tower Center Shopping Center, Gainesville, FL 32607July 01, 1987Full Service Brick and Mortar
    735929Keystone Heights Branch100 Commercial Circle, Keystone Heights, FL 32656September 18, 1986Full Service Brick and Mortar
    8243958Hunter's Crossing Branch5010 N.W. 43rd Street, Gainesville, FL 32606January 23, 1995Full Service Brick and Mortar
    9418415Messenger Service Branch3361 North Main Street, Gainesville, FL 32602June 01, 1999Limited Service Messenger
    10425791Ocala West Branch5400 Southwest College Road, Ocala, FL 34481Febuary 03, 2004Full Service Brick and Mortar
    11426734Oak Hammock5100 S.W. 25th Boulevard, Gainesville, FL 32608March 08, 2004Full Service Brick and Mortar
    12454902Archer Road Branch7000 Sw Archer Road, Gainesville, FL 32608August 17, 2006Full Service Brick and Mortar
    13465947Maricamp Road Branch2601 Se Maricamp Road, Ocala, FL 34471July 10, 2007Full Service Brick and Mortar
    14521682Village Retirement Center Branch8000 Nw 27th Boulevard, Gainesville, FL 32606July 18, 2011Full Service Brick and Mortar

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