Merchants & Marine Bank in Pascagoula, Mississippi (MS), AL
| Merchants & Marine Bank | |
|---|---|
| General | FDIC Certificate #: 12203 Status: Active Federal Reserve ID: 94139 Bank Holding Company (Regulatory Top Holder): Merchants & Marine Bancorp, Inc. (RSSDID: 3696093, Location: Pascagoula, MS) Date Established: January 11, 1932 WWW: http://www.mandmbank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 13 (Domestic: 13, Interstate: Yes) FDIC's unique #: 7751 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: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: December 09, 2011 Last Structure Change Process Date: January 05, 2012 Last Data Update: January 05, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 3118 Pascagoula Street, Pascagoula, MS 39567 County: Jackson Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Jackson Ms Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Biloxi-Gulfport-Pascagoula, MS (#920) Combined Statistical Area (CSA): Gulfport-Biloxi-Pascagoula, MS (#274) Core Based Statistical Area (CBSA): Pascagoula, MS (#37700) CBSA Metro Statistical Area: Pascagoula, MS (#37700) |
| History of Changes | Participated in Absorption/Consolidation/Merger |
| Financial Summary | Total assets: $556.1 mil Equity capital: $53.7 mil Deposits held in domestic offices: $476.8 mil Return on assets (ROA): 0.75% ($4.2 mil) Quarterly return on assets: 0.50% ($2.8 mil) Return on Equity (ROE): 7.50% ($4.0 mil) Quarterly return on equity: 4.90% ($2.6 mil) Net income: $4.0 mil Quarterly Net income: $0.7 mil Pretax return on assets: 1.06% ($5,894.9 mil) Quarterly Pretax return on assets: 0.77% ($4,282.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 144 |
| Total assets | $556,127 |
| Cash and due from depository institutions | $72,797 |
| Interest-bearing balances | $53,556 |
| Securities | $204,887 |
| Federal funds sold & reverse repurchase agreements | $97 |
| Net loans & leases | $234,262 |
| Loan loss allowance | $3,745 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $17,661 |
| Other real estate owned | $5,615 |
| Goodwill and other intangibles | $2,974 |
| All other assets | $17,834 |
| Life insurance assets | $556,127 |
| Total liabilities and capital | $502,448 |
| Total liabilities | $476,782 |
| Total deposits | $390,890 |
| Interest-bearing deposits | $476,782 |
| Deposits held in domestic offices | $74 |
| % insured (estimated) | 12275.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $13,391 |
| All other liabilities | $53,679 |
| Total equity capital | $53,679 |
| Total bank equity capital | $53,679 |
| Perpetual preferred stock | $0 |
| Common stock | $3,326 |
| Surplus | $14,500 |
| Undivided profits | $35,853 |
| 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 | $3,341 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $2,554 |
| Average Assets, year-to-date | $492,802 |
| Average Assets, quarterly | $163,241 |
| Volatile liabilities | $540,478 |
| Insider loans | $542,791 |
| FHLB advances | $335,356 |
| Loans and leases held for sale | $541,926 |
| Unused loan commitments | $6,875 |
| Tier 1 (core) risk-based capital | $6,875 |
| Tier 2 risk-based capital | $55,237 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $15,992 |
| Derivatives | $2,267 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $20,538 |
| Total interest expense | $3,043 |
| Net interest income | $17,495 |
| Provision for loan and lease losses | $2,455 |
| Total noninterest income | $6,795 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $4,590 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $2,205 |
| Total noninterest expense | $16,662 |
| Salaries and employee benefits | $7,459 |
| Premises and equipment expense | $2,903 |
| Additional noninterest expense | $6,300 |
| Pre-tax net operating income | $5,173 |
| Securities gains (losses) | $537 |
| Applicable income taxes | $1,676 |
| Income before extraordinary items | $4,034 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $4,034 |
| Net charge-offs | $0 |
| Cash dividends | $4,034 |
| Sale, conversion, retirement of capital stock, net | $1,978 |
| Net operating income | $2,062 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.21% |
| Cost of funding earning assets | 0.62% |
| Net interest margin | 3.58% |
| Noninterest income to earning assets | 1.39% |
| Noninterest expense to earning assets | 3.41% |
| Net operating income to assets | 0.68% |
| Return on assets (ROA) | 0.75% |
| Pretax return on assets | 1.06% |
| Return on equity (ROE) | 7.50% |
| Retained earnings to average equity (YTD only) | 3.67% |
| Net charge-offs to loans | 0.89% |
| Credit loss provision to net charge-offs | 124.12% |
| Efficiency ratio | 3.86% |
| Assets per employee | $68,596 |
| Cash dividends to net income (YTD only) | 3.86% |
| Condition Ratios (%) | |
| Loss allowance to loans | 51.12% |
| Loss allowance to noncurrent loans | 1.57% |
| Noncurrent assets plus other real estate owned to assets | 112.09% |
| Noncurrent loans to loans | 1.61% |
| Net loans and leases to deposits | 1.40% |
| Net loans and leases to core deposits | 49.13% |
| Equity capital to assets | 53.71% |
| Core capital (leverage) ratio | 9.65% |
| Tier 1 risk-based capital ratio | 10.19% |
| Total risk-based capital ratio | 16.47% |
| Memoranda | |
| Average assets | $18 |
| Average earning assets | $540,478 |
| Average equity | $53,760 |
| Average loans | $488,194 |
| 2 Alabama Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 13 | 12863 | Gulf Shores Branch | 1820 South Gulf Shores Parkway, Gulf Shores, AL 36542 | Febuary 14, 1964 | Full Service Brick and Mortar |  |
| 14 | 463488 | Crossville Branch | 8331 Alabama Highway 227 N, Crossville, AL 35962 | May 21, 2007 | Full Service Brick and Mortar | |
| 11 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 7751 | Merchants & Marine Bank | 3118 Pascagoula Street, Pascagoula, MS 39567 | January 11, 1932 | Full Service Brick and Mortar |  |
| 1 | 226657 | Moss Point Branch - Main Street | 4619 Main Street (Highway 613), Moss Point, MS 39563 | December 31, 1932 | Full Service Brick and Mortar | |
| 3 | 226659 | Bel-Aire Shopping Center Branch | 2600 Old Mobile Highway, Pascagoula, MS 39567 | April 30, 1964 | Full Service Brick and Mortar | |
| 4 | 226660 | Gautier Branch | 2235 Highway 90, Gautier, MS 39553 | April 13, 1970 | Full Service Brick and Mortar | |
| 5 | 226661 | Escatawpa Branch | 7616 Highway 613, Moss Point, MS 39563 | September 05, 1972 | Full Service Brick and Mortar | |
| 6 | 226662 | Wade Branch | Highway 63, Wade, MS 39567 | September 16, 1985 | Full Service Brick and Mortar | |
| 7 | 226663 | Ocean Springs Branch | 2008 Bienville Blvd, Ocean Springs, MS 39564 | August 15, 1994 | Full Service Brick and Mortar | |
| 8 | 334335 | Hurley Branch | 21536 Highway 613, Moss Point, MS 39563 | November 29, 1999 | Full Service Brick and Mortar | |
| 9 | 357582 | Saint Martin Branch | 6416 North Washington Avenue, Ocean Springs, MS 39564 | Febuary 22, 2000 | Full Service Brick and Mortar | |
| 11 | 272420 | Lucedale Branch | 11283 Old 63 South, Lucedale, MS 39452 | July 19, 1991 | Full Service Brick and Mortar | |
| 12 | 493860 | Market Street Branch | 1807 Market St, Pascagoula, MS 39567 | October 17, 2008 | Full Service Brick and Mortar | |
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