Summit Bank of Muncie in Muncie, Indiana (IN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 19, 1993

Summit Bank of Muncie in Muncie, Indiana (IN)
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Summit Bank of Muncie - Overview

General
FDIC Certificate #: 16831
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: NBD Bank, National Association (#8075)
Federal Reserve ID: 47742
Date Established: September 06, 1949
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 9 (Interstate: No)
FDIC's unique #: 10933
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: September 06, 1949
Last Structure Change Effective Date: March 19, 1993
Last Structure Change Process Date: April 01, 1993
Last Data Update: April 01, 1993
Data Source Date: April 05, 2012
Location
Address: 220 South Walnut Street, Muncie, IN 47305
County: Delaware
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Metropolitan Statistical Area (MSA): Muncie, IN (#5280)
Core Based Statistical Area (CBSA): Muncie, IN (#34620)
CBSA Metro Statistical Area: Muncie, IN (#34620)
Financial Summary
Total assets: $178.2 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$114Total assets
$178,182Cash and due from depository institutions
$8,067Interest-bearing balances
$0Securities
$20,965Federal funds sold & reverse repurchase agreements
$11,100Net loans & leases
$130,521Loan loss allowance
$1,981Trading account assets
$0Bank premises and fixed assets
$5,611Other real estate owned
$8Goodwill and other intangibles
$1,910Life insurance assets
$0All other assets
$0Total liabilities and capital
$178,182Total liabilities
$164,169Total deposits
$158,285Interest-bearing deposits
$138,729Deposits held in domestic offices
158285.00%% insured (estimated)
$88Federal funds purchased & repurchase agreements
$2,273Trading liabilities
$0Other borrowed funds
$2,688Subordinated debt
$0All other liabilities
$923Total equity capital
$923Total bank equity capital
$14,013Perpetual preferred stock
$0Common stock
$3,751Surplus
$6,600Undivided profits
Memoranda
$3,662Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,800Income earned, not collected on loans
$902Earning assets
$162,586Long-term assets (5+ years)
$8,631Average Assets, year-to-date
$180,172Average Assets, quarterly
$178,291Volatile liabilities
$16,404Insider loans
$65FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$17,802Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$14,013Total risk weighted assets
$137,404Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$14,104Total interest expense
$6,157Net interest income
$7,947Provision for loan and lease losses
$617Total noninterest income
$1,280Fiduciary activities
$0Service charges on deposit accounts
$836Trading account gains & fees
$0Additional noninterest income
$444Total noninterest expense
$6,047Salaries and employee benefits
$3,248Premises and equipment expense
$1,147Additional noninterest expense
$1,652Pre-tax net operating income
$2,563Securities gains (losses)
-$18Applicable income taxes
$973Income before extraordinary items
$1,572Extraordinary gains - net
-$109Net income attributable to bank
$1,463Net charge-offs
$809Cash dividends
$627Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.56%Cost of funding earning assets
3.74%Net interest margin
4.83%Noninterest income to earning assets
0.78%Noninterest expense to earning assets
3.67%Net operating income to assets
0.88%Return on assets (ROA)
0.81%Pretax return on assets
1.35%Return on equity (ROE)
10.75%Retained earnings to average equity (YTD only)
6.15%Net charge-offs to loans
0.59%Credit loss provision to net charge-offs
76.27%Efficiency ratio
65,536Assets per employee
1.56%Cash dividends to net income (YTD only)
Condition Ratios (%)
42.86%Loss allowance to loans
1.50%Loss allowance to noncurrent loans
110.06%Noncurrent assets plus other real estate owned to assets
1.01%Noncurrent loans to loans
1.36%Net loans and leases to deposits
82.46%Net loans and leases to core deposits
88.89%Equity capital to assets
7.86%Core capital (leverage) ratio
7.85%Tier 1 risk-based capital ratio
10.20%Total risk-based capital ratio
Memoranda
$11Average assets
$180,172Average earning assets
$13,603Average equity
$164,699Average loans

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