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

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Mount Vernon Bank and Trust Company
GeneralFDIC 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
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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)22
Total assets$94,865
Cash and due from depository institutions$2,618
Interest-bearing balances$1,143
Federal funds sold & reverse repurchase agreements$369
Net loans & leases$57,743
Loan loss allowance $776
Trading account assets$0
Bank premises and fixed assets$816
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$1,920
Life insurance assets$94,865
Total liabilities and capital$81,943
Total liabilities$78,298
Total deposits$69,295
Interest-bearing deposits$78,298
Deposits held in domestic offices$84
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,300
Other borrowed funds $0
Subordinated debt $345
All other liabilities $12,922
Total equity capital$12,922
Total bank equity capital$12,922
Perpetual preferred stock$0
Common stock$400
Undivided profits $10,922
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) $411
Average Assets, year-to-date $90,654
Average Assets, quarterly $18,894
Volatile liabilities $93,058
Insider loans $92,782
FHLB advances $64,096
Loans and leases held for sale $95,093
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $12,562
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $4,706
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,103
Total interest expense $756
Net interest income $3,347
Provision for loan and lease losses $100
Total noninterest income $839
Fiduciary activities $13
Service charges on deposit accounts $189
Trading account gains & fees $0
Additional noninterest income $637
Total noninterest expense $2,274
Salaries and employee benefits $1,400
Premises and equipment expense $250
Additional noninterest expense $624
Pre-tax net operating income $1,812
Securities gains (losses) $30
Applicable income taxes $578
Income before extraordinary items $1,264
Extraordinary gains - net $3
Net income attributable to bank $1,267
Net charge-offs $0
Cash dividends $1,267
Sale, conversion, retirement of capital stock, net $10
Net operating income $416
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.63%
Cost of funding earning assets 0.85%
Net interest margin 3.77%
Noninterest income to earning assets 0.95%
Noninterest expense to earning assets 2.56%
Net operating income to assets 1.34%
Return on assets (ROA) 1.36%
Pretax return on assets 1.98%
Return on equity (ROE) 10.15%
Retained earnings to average equity (YTD only) 6.82%
Net charge-offs to loans 0.02%
Credit loss provision to net charge-offs 1000.00%
Efficiency ratio191.20%
Assets per employee$54,324
Cash dividends to net income (YTD only)4.31%
Condition Ratios (%)
Loss allowance to loans 32.83%
Loss allowance to noncurrent loans 1.33%
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 73.75%
Equity capital to assets 76.91%
Core capital (leverage) ratio 13.62%
Tier 1 risk-based capital ratio 13.21%
Total risk-based capital ratio 19.60%
Average assets$21
Average earning assets$93,058
Average equity $12,480
Average loans $88,671
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$687
Number of Accounts1
Personal trust and agency accounts$554
Employee benefit-defined contribution accounts$554
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts5
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$133
Corporate trust and agency accounts$133
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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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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