Merchants and Farmers Bank in Kosciusko, Mississippi (MS), AL, TN, FL
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| Merchants and Farmers Bank | |
|---|---|
| General | FDIC Certificate #: 9361 Status: Active Federal Reserve ID: 844343 Bank Holding Company (Regulatory Top Holder): First M & F Corporation (RSSDID: 1095982, Location: Kosciusko, MS) Date Established: August 16, 1890 WWW: http://www.mfbank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 39 (Domestic: 39, Interstate: Yes) OTS Docket #: 9835 FDIC's unique #: 6010 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: November 20, 2006 Last Structure Change Process Date: January 11, 2007 Last Data Update: January 11, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 221 East Washington Street, Kosciusko, MS 39090 County: Attala 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 |
| History of Changes | Participated in Absorption/Consolidation/Merger Corrections Office Sold |
| Financial Summary | Total assets: $1,561.3 mil Equity capital: $137.5 mil Deposits held in domestic offices: $1,372.4 mil Return on assets (ROA): 0.34% ($5.3 mil) Quarterly return on assets: 0.31% ($4.8 mil) Return on Equity (ROE): 3.95% ($5.4 mil) Quarterly return on equity: 3.53% ($4.8 mil) Net income: $5.4 mil Quarterly Net income: $1.2 mil Pretax return on assets: 0.44% ($6,869.8 mil) Quarterly Pretax return on assets: 0.39% ($6,089.1 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 460 |
| Total assets | $1,561,320 |
| Cash and due from depository institutions | $77,504 |
| Interest-bearing balances | $37,528 |
| Securities | $319,269 |
| Federal funds sold & reverse repurchase agreements | $25,000 |
| Net loans & leases | $1,007,460 |
| Loan loss allowance | $14,953 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $37,925 |
| Other real estate owned | $36,951 |
| Goodwill and other intangibles | $4,586 |
| All other assets | $52,625 |
| Life insurance assets | $1,561,320 |
| Total liabilities and capital | $1,423,850 |
| Total liabilities | $1,372,438 |
| Total deposits | $1,140,710 |
| Interest-bearing deposits | $1,372,438 |
| Deposits held in domestic offices | $84 |
| % insured (estimated) | 4398.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $39,709 |
| Other borrowed funds | $0 |
| Subordinated debt | $7,305 |
| All other liabilities | $137,470 |
| Total equity capital | $137,470 |
| Total bank equity capital | $137,470 |
| Perpetual preferred stock | $0 |
| Common stock | $1,095 |
| Surplus | $163,720 |
| Undivided profits | $-27,345 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $26,073 |
| Income earned, not collected on loans | $17,779 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $6,103 |
| Average Assets, year-to-date | $1,389,257 |
| Average Assets, quarterly | $388,934 |
| Volatile liabilities | $1,592,160 |
| Insider loans | $1,570,475 |
| FHLB advances | $1,167,619 |
| Loans and leases held for sale | $1,548,329 |
| Unused loan commitments | $22,477 |
| Tier 1 (core) risk-based capital | $22,118 |
| Tier 2 risk-based capital | $126,487 |
| Total risk weighted assets | $359 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $128,102 |
| Derivatives | $14,932 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $68,698 |
| Total interest expense | $15,374 |
| Net interest income | $53,324 |
| Provision for loan and lease losses | $9,720 |
| Total noninterest income | $13,845 |
| Fiduciary activities | $188 |
| Service charges on deposit accounts | $7,163 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $6,494 |
| Total noninterest expense | $52,593 |
| Salaries and employee benefits | $28,476 |
| Premises and equipment expense | $5,806 |
| Additional noninterest expense | $18,311 |
| Pre-tax net operating income | $4,856 |
| Securities gains (losses) | $2,138 |
| Applicable income taxes | $1,606 |
| Income before extraordinary items | $5,388 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $5,388 |
| Net charge-offs | $0 |
| Cash dividends | $5,388 |
| Sale, conversion, retirement of capital stock, net | $10,793 |
| Net operating income | $2,650 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.84% |
| Cost of funding earning assets | 1.08% |
| Net interest margin | 3.75% |
| Noninterest income to earning assets | 0.97% |
| Noninterest expense to earning assets | 3.70% |
| Net operating income to assets | 0.24% |
| Return on assets (ROA) | 0.34% |
| Pretax return on assets | 0.44% |
| Return on equity (ROE) | 3.95% |
| Retained earnings to average equity (YTD only) | 2.01% |
| Net charge-offs to loans | 1.03% |
| Credit loss provision to net charge-offs | 90.06% |
| Efficiency ratio | 1.35% |
| Assets per employee | $77,664 |
| Cash dividends to net income (YTD only) | 3.39% |
| Condition Ratios (%) | |
| Loss allowance to loans | 49.18% |
| Loss allowance to noncurrent loans | 1.46% |
| Noncurrent assets plus other real estate owned to assets | 84.10% |
| Noncurrent loans to loans | 3.55% |
| Net loans and leases to deposits | 1.74% |
| Net loans and leases to core deposits | 73.41% |
| Equity capital to assets | 77.46% |
| Core capital (leverage) ratio | 8.80% |
| Tier 1 risk-based capital ratio | 8.17% |
| Total risk-based capital ratio | 10.83% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $1,592,160 |
| Average equity | $136,469 |
| Average loans | $1,420,478 |
| Total Fiduciary and Related Assets (December 31, 2011) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $48,558 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $45,673 |
| Employee benefit-defined contribution accounts | $19,704 |
| Employee benefit-defined benefit accounts | $13,296 |
| Other retirement accounts | $7,981 |
| Corporate trust and agency accounts | $0 |
| Investment management agency accounts | $2,756 |
| Other fiduciary accounts | $1,936 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 114 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $2,885 |
| Corporate trust and agency accounts | $0 |
| Other fiduciary accounts | $577 |
| Fiduciary accounts held in foreign offices | $0 |
| 4 Alabama Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 59 | 538 | Columbiana Branch | 106 E College St, Columbiana, AL 35051 | January 01, 1892 | Full Service Brick and Mortar |  |
| 61 | 186258 | Inverness Branch | 107 Inverness Cors, Birmingham, AL 35242 | August 23, 1973 | Full Service Brick and Mortar | |
| 63 | 186262 | Pelham Branch | 3513 Pelham Parkway, Pelham, AL 35124 | March 31, 1986 | Full Service Brick and Mortar | |
| 64 | 186264 | Chelsea Branch | 16623 Highway 280, Chelsea, AL 35043 | August 21, 1989 | Full Service Brick and Mortar | |
| 1 Florida Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 76 | 468937 | Niceville Branch | 750 John Sims Pkwy E, Niceville, FL 32578 | November 05, 2007 | Full Service Brick and Mortar | |
| 31 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 6010 | Merchants And Farmers Bank | 221 East Washington Street, Kosciusko, MS 39090 | August 16, 1890 | Full Service Brick and Mortar |  |
| 2 | 219964 | Court Square Branch | 121 West Washington Street, Kosciusko, MS 39090 | September 13, 1952 | Limited Service Facility | |
| 3 | 219965 | North Side Drive-In Branch | 220 Highway 12 E, Kosciusko, MS 39090 | July 06, 1964 | Full Service Brick and Mortar | |
| 6 | 256 | Durant Branch | 381 Nw Depot St, Durant, MS 39063 | April 06, 1900 | Full Service Brick and Mortar | |
| 9 | 219970 | Durant Drive In | 15977 N Jackson St., Durant, MS 39063 | June 11, 1973 | Limited Service Facility | |
| 10 | 219971 | Starkville Branch | 315 University Drive, Starkville, MS 39759 | May 14, 1974 | Full Service Brick and Mortar | |
| 14 | 219974 | Ackerman Branch | 9027 Ms Highway 15, Ackerman, MS 39735 | January 26, 1979 | Full Service Brick and Mortar | |
| 15 | 14943 | Oxford Main Branch | 1111 East Jackson Avenue, Oxford, MS 38655 | May 20, 1974 | Full Service Brick and Mortar | |
| 16 | 253095 | Tradewind Branch | 1901 University Avenue, Oxford, MS 38655 | November 10, 1975 | Limited Service Facility | |
| 18 | 3325 | Canton Branch | 3330 S Liberty St, Canton, MS 39046 | January 01, 1903 | Full Service Brick and Mortar | |
| 22 | 219975 | Madison Branch | 100 Old Canton Road And Highway 51 South, Madison, MS 39110 | August 18, 1986 | Full Service Brick and Mortar | |
| 27 | 252339 | Pearl Branch | 2917 Highway 80 East, Pearl, MS 39208 | November 01, 1973 | Full Service Brick and Mortar | |
| 31 | 219977 | Philadelphia Westside Branch | 1012 W Beacon St, Philadelphia, MS 39350 | March 01, 1995 | Full Service Brick and Mortar | |
| 33 | 13891 | Bruce Branch | 105 Town Square, Bruce, MS 38915 | June 26, 1970 | Full Service Brick and Mortar | |
| 35 | 219979 | Starkville Crossing Branch | 806 Highway 12 W, Starkville, MS 39759 | December 04, 1995 | Full Service Brick and Mortar | |
| 36 | 219980 | Clinton Branch | 322 Highway 80, Suite D, Clinton, MS 39056 | August 04, 1997 | Limited Service Loan Production | |
| 38 | 219982 | Southaven Branch | 1287 Main St, Southaven, MS 38671 | July 01, 1998 | Full Service Brick and Mortar | |
| 39 | 219983 | Grenada Branch | 350 Sunset Drive, Grenada, MS 38901 | July 20, 1998 | Full Service Brick and Mortar | |
| 40 | 12687 | Cleveland Branch | 308 East Sunflower Road, Cleveland, MS 38732 | July 18, 1963 | Full Service Brick and Mortar | |
| 41 | 219984 | Clinton Branch | 411 Highway 80 E, Clinton, MS 39056 | March 08, 1999 | Full Service Brick and Mortar | |
| 42 | 41552 | Tupelo Branch | 333 Court St, Tupelo, MS 38804 | December 01, 1933 | Full Service Brick and Mortar | |
| 43 | 270204 | West Side Branch | 3425 West Main Street, Tupelo, MS 38801 | September 29, 1997 | Full Service Brick and Mortar | |
| 45 | 357570 | Madison Admin Branch | 966 Hwy 51 S, Madison, MS 39110 | January 01, 2000 | Limited Service Administrative | |
| 52 | 418683 | Medical Center Branch | 901 South Gloster, Tupelo, MS 38801 | March 31, 2003 | Full Service Brick and Mortar | |
| 53 | 425720 | Flowood Branch | 4247 Lakeland Dr, Flowood, MS 39232 | Febuary 23, 2004 | Full Service Brick and Mortar | |
| 57 | 433846 | Olive Branch Office | 6543 Goodman Road, Olive Branch, MS 38654 | November 15, 2004 | Full Service Brick and Mortar | |
| 58 | 444968 | Church Road Branch | 510 Church Road West, Southaven, MS 38671 | September 13, 2005 | Full Service Brick and Mortar | |
| 65 | 450676 | Highland Colony Branch | 1600 Highland Colony Parkway, Madison, MS 39110 | April 13, 2006 | Full Service Brick and Mortar | |
| 74 | 466028 | Spillway Road Branch | 1934 Spillway Road, Brandon, MS 39047 | July 30, 2007 | Full Service Brick and Mortar | |
| 75 | 467486 | Lake Harbour Branch | 732 Lake Harbour, Ridgeland, MS 39157 | August 27, 2007 | Full Service Brick and Mortar | |
| 77 | 484672 | Brandon Branch | 1285 West Government Street, Brandon, MS 39042 | December 15, 2008 | Full Service Brick and Mortar | |
| 3 Tennessee Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 54 | 428107 | Thousand Oaks Boulevard Loan Product | 2650 Thousand Oaks Boulevard, Suite 2370, Memphis, TN 38118 | April 19, 2004 | Limited Service Loan Production | |
| 66 | 966 | Bells Branch | 32 E Main St, Bells, TN 38006 | January 06, 1912 | Full Service Brick and Mortar | |
| 72 | 463796 | Cordova Branch | 2323 North Germantown Parkway, Suite 105, Cordova, TN 38016 | June 12, 2007 | Full Service Brick and Mortar | |
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