Mount Vernon Bank and Trust Company in Mount Vernon, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Mount Vernon Bank and Trust Company in Mount Vernon, Iowa (IA)
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Mount Vernon Bank and Trust Company - Overview

  • General
  • FDIC Certificate #: 10494
    Status: Active
    Federal Reserve ID: 890649
    Bank Holding Company (Regulatory Top Holder): Mount Vernon Bancorp. (RSSDID: 1140912, Location: Mount Vernon, IA)
    Date Established: January 01, 1884
    WWW: http://www.mountvernonbank.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 13676
    FDIC's unique #: 6714
    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: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: January 01, 1934
    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: 206 First Street West, Mount Vernon, IA 52314
    County: Linn
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Cedar Rapids, IA (#1360)
    Core Based Statistical Area (CBSA): Cedar Rapids, IA (#16300)
    CBSA Metro Statistical Area: Cedar Rapids, IA (#16300)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $94.9 mil
    Equity capital: $12.9 mil
    Deposits held in domestic offices: $78.3 mil
    Return on assets (ROA): 1.36% ($1.3 mil)
    Quarterly return on assets: 1.12% ($1.1 mil)
    Return on Equity (ROE): 10.15% ($1.3 mil)
    Quarterly return on equity: 8.09% ($1.1 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.98% ($1,878.3 mil)
    Quarterly Pretax return on assets: 1.19% ($1,128.9 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
  • 22Total employees (full-time equivalent)
  • $94,865Total assets
  • $2,618Cash and due from depository institutions
  • $1,143Interest-bearing balances
  • $31,399Securities
  • $369Federal funds sold & reverse repurchase agreements
  • $57,743Net loans & leases
  • $776Loan loss allowance
  • $0Trading account assets
  • $816Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $94,865Life insurance assets
  • $1,920All other assets
  • $81,943Total liabilities and capital
  • $78,298Total liabilities
  • $69,295Total deposits
  • $78,298Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,300Trading liabilities
  • $0Other borrowed funds
  • $345Subordinated debt
  • $12,922All other liabilities
  • $12,922Total equity capital
  • $12,922Total bank equity capital
  • $0Perpetual preferred stock
  • $400Common stock
  • $1,600Surplus
  • $10,922Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $411Long-term assets (5+ years)
  • $90,654Average Assets, year-to-date
  • $18,894Average Assets, quarterly
  • $93,058Volatile liabilities
  • $92,782Insider loans
  • $64,096FHLB advances
  • $95,093Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,562Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,706Restructured Loans and leases
  • $341Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,103Total interest income
  • $756Total interest expense
  • $3,347Net interest income
  • $100Provision for loan and lease losses
  • $839Total noninterest income
  • $13Fiduciary activities
  • $189Service charges on deposit accounts
  • $0Trading account gains & fees
  • $637Additional noninterest income
  • $2,274Total noninterest expense
  • $1,400Salaries and employee benefits
  • $250Premises and equipment expense
  • $624Additional noninterest expense
  • $1,812Pre-tax net operating income
  • $30Securities gains (losses)
  • $578Applicable income taxes
  • $1,264Income before extraordinary items
  • $3Extraordinary gains - net
  • $1,267Net income attributable to bank
  • $0Net charge-offs
  • $1,267Cash dividends
  • $10Sale, conversion, retirement of capital stock, net
  • $416Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.63%Yield on earning assets
  • 0.85%Cost of funding earning assets
  • 3.77%Net interest margin
  • 0.95%Noninterest income to earning assets
  • 2.56%Noninterest expense to earning assets
  • 1.34%Net operating income to assets
  • 1.36%Return on assets (ROA)
  • 1.98%Pretax return on assets
  • 10.15%Return on equity (ROE)
  • 6.82%Retained earnings to average equity (YTD only)
  • 0.02%Net charge-offs to loans
  • 1000.00%Credit loss provision to net charge-offs
  • 191.20%Efficiency ratio
  • 54,324Assets per employee
  • 4.31%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 32.83%Loss allowance to loans
  • 1.33%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 73.75%Net loans and leases to core deposits
  • 76.91%Equity capital to assets
  • 13.62%Core capital (leverage) ratio
  • 13.21%Tier 1 risk-based capital ratio
  • 19.60%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $93,058Average earning assets
  • $12,480Average equity
  • $88,671Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $687Managed Assets
  • 1Number of Accounts
  • $554Personal trust and agency accounts
  • $554Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 5Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $133Other retirement accounts
  • $133Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 2 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06714Mount Vernon Bank And Trust Company206 First Street West, Mount Vernon, IA 52314January 01, 1884Full Service Brick and Mortar
    1222453Drive-In Branch116 Third Avenue South, Mount Vernon, IA 52314Febuary 20, 1981Limited Service Facility

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