Merchants & Farmers Bank in Holly Springs, Mississippi (MS)
| Merchants & Farmers Bank | |
|---|---|
| General | FDIC Certificate #: 11446 Status: Active Federal Reserve ID: 837840 Bank Holding Company (Regulatory Top Holder): M & F Bancorp, Inc. (RSSDID: 1995523, Location: Holly Springs, MS) Date Established: March 15, 1899 WWW: http://www.mandfbankhs.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 5 (Domestic: 5, Interstate: No) FDIC's unique #: 7309 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: Yes 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: 650 Highway 7 South, Holly Springs, MS 38635 County: Marshall Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Memphis Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Memphis, TN-MS-AR (#32820) CBSA Metro Statistical Area: Memphis, TN-MS-AR (#32820) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $86.8 mil Equity capital: $9.4 mil Deposits held in domestic offices: $76.3 mil Return on assets (ROA): 0.90% ($0.8 mil) Quarterly return on assets: 0.84% ($0.7 mil) Return on Equity (ROE): 8.45% ($0.8 mil) Quarterly return on equity: 7.82% ($0.7 mil) Net income: $0.8 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.90% ($781.0 mil) Quarterly Pretax return on assets: 0.84% ($729.0 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 35 |
| Total assets | $86,780 |
| Cash and due from depository institutions | $15,079 |
| Interest-bearing balances | $11,977 |
| Securities | $24,003 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $40,655 |
| Loan loss allowance | $563 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,572 |
| Other real estate owned | $910 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,561 |
| Life insurance assets | $86,780 |
| Total liabilities and capital | $77,395 |
| Total liabilities | $76,298 |
| Total deposits | $63,823 |
| Interest-bearing deposits | $76,298 |
| Deposits held in domestic offices | $88 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,097 |
| All other liabilities | $9,385 |
| Total equity capital | $9,385 |
| Total bank equity capital | $9,385 |
| Perpetual preferred stock | $0 |
| Common stock | $129 |
| Surplus | $6,000 |
| Undivided profits | $3,256 |
| Memoranda | |
| 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 | $1,803 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $490 |
| Average Assets, year-to-date | $76,635 |
| Average Assets, quarterly | $26,073 |
| Volatile liabilities | $86,867 |
| Insider loans | $87,682 |
| FHLB advances | $45,793 |
| Loans and leases held for sale | $88,376 |
| Unused loan commitments | $1,930 |
| Tier 1 (core) risk-based capital | $954 |
| Tier 2 risk-based capital | $8,931 |
| Total risk weighted assets | $976 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,392 |
| Derivatives | $2,369 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $3,827 |
| Total interest expense | $697 |
| Net interest income | $3,130 |
| Provision for loan and lease losses | $527 |
| Total noninterest income | $1,182 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $916 |
| Trading account gains & fees | -$9 |
| Additional noninterest income | $275 |
| Total noninterest expense | $3,199 |
| Salaries and employee benefits | $1,778 |
| Premises and equipment expense | $464 |
| Additional noninterest expense | $957 |
| Pre-tax net operating income | $586 |
| Securities gains (losses) | $192 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $778 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $778 |
| Net charge-offs | $0 |
| Cash dividends | $778 |
| Sale, conversion, retirement of capital stock, net | $722 |
| Net operating income | $400 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.06% |
| Cost of funding earning assets | 0.92% |
| Net interest margin | 4.14% |
| Noninterest income to earning assets | 1.56% |
| Noninterest expense to earning assets | 4.23% |
| Net operating income to assets | 0.67% |
| Return on assets (ROA) | 0.90% |
| Pretax return on assets | 0.90% |
| Return on equity (ROE) | 8.45% |
| Retained earnings to average equity (YTD only) | 4.11% |
| Net charge-offs to loans | 1.60% |
| Credit loss provision to net charge-offs | 72.99% |
| Efficiency ratio | 1.54% |
| Assets per employee | $74,188 |
| Cash dividends to net income (YTD only) | 2.48% |
| Condition Ratios (%) | |
| Loss allowance to loans | 51.41% |
| Loss allowance to noncurrent loans | 1.37% |
| Noncurrent assets plus other real estate owned to assets | 31.23% |
| Noncurrent loans to loans | 3.13% |
| Net loans and leases to deposits | 4.37% |
| Net loans and leases to core deposits | 53.28% |
| Equity capital to assets | 60.35% |
| Core capital (leverage) ratio | 10.81% |
| Tier 1 risk-based capital ratio | 10.11% |
| Total risk-based capital ratio | 19.50% |
| Memoranda | |
| Average assets | $21 |
| Average earning assets | $86,867 |
| Average equity | $9,203 |
| Average loans | $75,695 |
| 5 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7309 | Merchants & Farmers Bank | 650 Highway 7 South, Holly Springs, MS 38635 | March 15, 1899 | Full Service Brick and Mortar |  |
| 1 | 224645 | Drive-In Branch | College And Spring Streets, Holly Springs, MS 38635 | April 08, 1970 | Limited Service Facility |  |
| 2 | 224646 | Ashland Branch | Route 2 And Highway 5, Ashland, MS 38603 | September 30, 1975 | Full Service Brick and Mortar | |
| 3 | 248344 | Hickory Flat Branch | Highway 178, Hickory Flat, MS 38633 | October 12, 1953 | Full Service Brick and Mortar | |
| 4 | 356729 | Byhalia Branch | 523 Highway 309 South, Byhalia, MS 38611 | June 19, 2000 | Full Service Brick and Mortar | |
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