The Old Phoenix National Bank of Medina in Medina, Ohio (OH)



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The Old Phoenix National Bank of Medina
GeneralFDIC Certificate #: 6639
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Firstmerit Bank, National Association (#13675)
Federal Reserve ID: 404420
Date Established: January 01, 1857
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 14 (Interstate: No)
OTS Docket #: 12175
FDIC's unique #: 4449
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 14, 1997
Last Structure Change Process Date: December 30, 1997
Last Data Update: December 30, 1997
Data Source Date: April 05, 2012
LocationAddress: 39 Public Square, Medina, OH 44256
County: Medina
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): Cleveland-Lorain-Elyria, OH (#1680)
Consolidated Metropolitan Statistical Area (CMSA): Cleveland-Akron, OH (#28)
Combined Statistical Area (CSA): Cleveland-Akron-Elyria, OH (#184)
Core Based Statistical Area (CBSA): Cleveland-Elyria-Mentor, OH (#17460)
CBSA Metro Statistical Area: Cleveland-Elyria-Mentor, OH (#17460)
Financial SummaryTotal assets: $408.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$168
Cash and due from depository institutions$404,317
Interest-bearing balances$21,462
Securities$14
Federal funds sold & reverse repurchase agreements$76,933
Net loans & leases$7,090
Loan loss allowance $289,103
Trading account assets$3,830
Bank premises and fixed assets$0
Other real estate owned$4,603
Goodwill and other intangibles$0
All other assets$211
Life insurance assets$4,915
Total liabilities and capital$0
Total liabilities$404,317
Total deposits$375,618
Interest-bearing deposits$313,778
Deposits held in domestic offices$231,518
% insured (estimated)313778.00%
Federal funds purchased & repurchase agreements $92
Trading liabilities$48,815
Other borrowed funds $0
Subordinated debt $8,208
All other liabilities $0
Total equity capital$4,817
Total bank equity capital$4,817
Perpetual preferred stock$28,699
Common stock$0
Surplus$5,455
Undivided profits $5,455
Memoranda
Noncurrent loans and leases $17,789
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,360
Earning assets $1,873
Long-term assets (5+ years) $373,140
Average Assets, year-to-date $70,087
Average Assets, quarterly $400,537
Volatile liabilities $404,845
Insider loans $62,031
FHLB advances $1,844
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $103,841
Tier 2 risk-based capital $0
Total risk weighted assets $28,362
Total unused commitments $305,897
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $31,457
Net interest income $8,726
Provision for loan and lease losses $22,731
Total noninterest income $1,603
Fiduciary activities $5,304
Service charges on deposit accounts $1,321
Trading account gains & fees $2,324
Additional noninterest income $0
Total noninterest expense $1,659
Salaries and employee benefits $15,123
Premises and equipment expense $4,971
Additional noninterest expense $1,962
Pre-tax net operating income $8,190
Securities gains (losses) $11,309
Applicable income taxes $0
Income before extraordinary items $3,776
Extraordinary gains - net $7,533
Net income attributable to bank $0
Net charge-offs $7,533
Cash dividends $1,203
Sale, conversion, retirement of capital stock, net $7,200
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.56%
Net interest margin 2.37%
Noninterest income to earning assets 6.18%
Noninterest expense to earning assets 1.44%
Net operating income to assets 4.11%
Return on assets (ROA) 1.88%
Pretax return on assets 1.88%
Return on equity (ROE) 2.82%
Retained earnings to average equity (YTD only) 24.66%
Net charge-offs to loans 1.09%
Credit loss provision to net charge-offs 0.41%
Efficiency ratio133.25%
Assets per employee$53,883
Cash dividends to net income (YTD only)2.41%
Condition Ratios (%)
Loss allowance to loans 95.58%
Loss allowance to noncurrent loans 1.31%
Noncurrent assets plus other real estate owned to assets 281.62%
Noncurrent loans to loans 0.34%
Net loans and leases to deposits0.46%
Net loans and leases to core deposits 92.14%
Equity capital to assets 94.07%
Core capital (leverage) ratio 7.10%
Tier 1 risk-based capital ratio 7.17%
Total risk-based capital ratio 9.27%
Memoranda
Average assets$11
Average earning assets$400,537
Average equity $30,553
Average loans $367,568
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