Summit Bank, National Association in Fairlawn, Ohio (OH)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 12, 1999

  • Summit Bank, National Association in Fairlawn, Ohio (OH)
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Summit Bank, National Association - Overview

  • General
  • FDIC Certificate #: 33278
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Firstmerit Bank, National Association (#13675)
    Federal Reserve ID: 1829655
    Date Established: January 22, 1991
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 3 (Interstate: No)
    OTS Docket #: 9330
    FDIC's unique #: 46748
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: January 22, 1991
    Last Structure Change Effective Date: Febuary 12, 1999
    Last Structure Change Process Date: May 12, 1999
    Last Data Update: May 12, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 2680 West Market Street, Fairlawn, OH 44333
    County: Summit
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Columbus
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Akron, OH (#80)
    Consolidated Metropolitan Statistical Area (CMSA): Cleveland-Akron, OH (#28)
    Combined Statistical Area (CSA): Cleveland-Akron-Elyria, OH (#184)
    Core Based Statistical Area (CBSA): Akron, OH (#10420)
    CBSA Metro Statistical Area: Akron, OH (#10420)
  • Financial Summary
  • Total assets: $119.8 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 48Total employees (full-time equivalent)
  • $119,841Total assets
  • $4,424Cash and due from depository institutions
  • $2,123Interest-bearing balances
  • $11,532Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $99,403Net loans & leases
  • $1,315Loan loss allowance
  • $0Trading account assets
  • $838Bank premises and fixed assets
  • $0Other real estate owned
  • $1,159Goodwill and other intangibles
  • $0Life insurance assets
  • $2,485All other assets
  • $119,841Total liabilities and capital
  • $109,604Total liabilities
  • $92,215Total deposits
  • $76,936Interest-bearing deposits
  • $92,215Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $15,423Other borrowed funds
  • $0Subordinated debt
  • $1,966All other liabilities
  • $10,237Total equity capital
  • $10,237Total bank equity capital
  • $10,237Perpetual preferred stock
  • $0Common stock
  • $2,000Surplus
  • $4,935Undivided profits
  • Memoranda
  • $3,302Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $231Earning assets
  • $77Long-term assets (5+ years)
  • $498Average Assets, year-to-date
  • $113,058Average Assets, quarterly
  • $21,960Volatile liabilities
  • $110,975Insider loans
  • $120,487FHLB advances
  • $9,397Loans and leases held for sale
  • $1,567Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $3,974Total risk weighted assets
  • $18,583Total unused commitments
  • $0Restructured Loans and leases
  • $95,525Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $9,671Total interest income
  • $4,697Total interest expense
  • $4,974Net interest income
  • $399Provision for loan and lease losses
  • $1,703Total noninterest income
  • $0Fiduciary activities
  • $217Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,486Additional noninterest income
  • $4,028Total noninterest expense
  • $2,244Salaries and employee benefits
  • $667Premises and equipment expense
  • $1,117Additional noninterest expense
  • $2,250Pre-tax net operating income
  • $0Securities gains (losses)
  • $699Applicable income taxes
  • $1,551Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,551Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $120Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 9.28%Yield on earning assets
  • 4.51%Cost of funding earning assets
  • 4.77%Net interest margin
  • 1.63%Noninterest income to earning assets
  • 3.87%Noninterest expense to earning assets
  • 1.40%Net operating income to assets
  • 1.40%Return on assets (ROA)
  • 2.03%Pretax return on assets
  • 17.43%Return on equity (ROE)
  • 17.43%Retained earnings to average equity (YTD only)
  • 0.13%Net charge-offs to loans
  • 332.50%Credit loss provision to net charge-offs
  • 22.07%Efficiency ratio
  • 59,009Assets per employee
  • 2.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.31%Loss allowance to noncurrent loans
  • 569.26%Noncurrent assets plus other real estate owned to assets
  • 0.19%Noncurrent loans to loans
  • 0.23%Net loans and leases to deposits
  • 107.79%Net loans and leases to core deposits
  • 120.03%Equity capital to assets
  • 8.54%Core capital (leverage) ratio
  • 7.70%Tier 1 risk-based capital ratio
  • 9.51%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $110,975Average earning assets
  • $8,896Average equity
  • $104,190Average loans

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