Merchants and Farmers Bank of Comer, Georgia in Comer, Georgia (GA)



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Merchants and Farmers Bank of Comer, Georgia
GeneralFDIC Certificate #: 15337
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First Citizens Bank and Trust Company, Inc. (#15504)
Federal Reserve ID: 402837
Date Established: January 01, 1934
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Interstate: No)
FDIC's unique #: 9670
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 16, 1936
Last Structure Change Effective Date: October 17, 2009
Last Structure Change Process Date: November 24, 2009
Last Data Update: November 24, 2009
Data Source Date: April 05, 2012
LocationAddress: 406 Sunset Avenue, Comer, GA 30629
County: Madison
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Athens, GA (#500)
Core Based Statistical Area (CBSA): Athens-Clarke County, GA (#12020)
CBSA Metro Statistical Area: Athens-Clarke County, GA (#12020)
Financial SummaryTotal assets: $163.3 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)46
Total assets$167,354
Cash and due from depository institutions$4,026
Interest-bearing balances$0
Securities$37,187
Federal funds sold & reverse repurchase agreements$4,718
Net loans & leases$94,098
Loan loss allowance $1,881
Trading account assets$0
Bank premises and fixed assets$3,430
Other real estate owned$217
Goodwill and other intangibles$17,222
All other assets$6,456
Life insurance assets$4,441
Total liabilities and capital$167,354
Total liabilities$131,088
Total deposits$127,720
Interest-bearing deposits$110,725
Deposits held in domestic offices$127,720
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $2,000
Subordinated debt $0
All other liabilities $1,368
Total equity capital$36,266
Total bank equity capital$36,266
Perpetual preferred stock$36,266
Common stock$0
Surplus$96
Undivided profits $9,352
Memoranda
Noncurrent loans and leases $26,818
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,879
Income earned, not collected on loans $0
Earning assets $3,110
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,293
Average Assets, quarterly $136,003
Volatile liabilities $24,808
Insider loans $168,318
FHLB advances $172,335
Loans and leases held for sale $19,265
Unused loan commitments $556
Tier 1 (core) risk-based capital $2,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $5,879
Restructured Loans and leases $0
Derivatives$1,384
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $5,557
Total interest expense $2,241
Net interest income $3,316
Provision for loan and lease losses $1,609
Total noninterest income $1,336
Fiduciary activities $0
Service charges on deposit accounts $1,135
Trading account gains & fees $0
Additional noninterest income $201
Total noninterest expense $2,989
Salaries and employee benefits $1,662
Premises and equipment expense $317
Additional noninterest expense $1,010
Pre-tax net operating income $54
Securities gains (losses) $123
Applicable income taxes $63
Income before extraordinary items $114
Extraordinary gains - net $0
Net income attributable to bank $114
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $896
Net operating income $720
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.86%
Cost of funding earning assets 1.56%
Net interest margin 2.30%
Noninterest income to earning assets 0.93%
Noninterest expense to earning assets 2.08%
Net operating income to assets 0.02%
Return on assets (ROA) 0.07%
Pretax return on assets 0.11%
Return on equity (ROE) 0.39%
Retained earnings to average equity (YTD only) -2.05%
Net charge-offs to loans 0.93%
Credit loss provision to net charge-offs 179.58%
Efficiency ratio1.86%
Assets per employee$64,252
Cash dividends to net income (YTD only)3.64%
Condition Ratios (%)
Loss allowance to loans 631.58%
Loss allowance to noncurrent loans 1.96%
Noncurrent assets plus other real estate owned to assets 60.48%
Noncurrent loans to loans 1.99%
Net loans and leases to deposits3.24%
Net loans and leases to core deposits 73.68%
Equity capital to assets 86.76%
Core capital (leverage) ratio 21.67%
Tier 1 risk-based capital ratio 13.40%
Total risk-based capital ratio 18.75%
Memoranda
Average assets$20
Average earning assets$168,318
Average equity $29,606
Average loans $143,964
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