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Overview / Commentary
200 North 33rd Street
Quincy, IL 62301

Mercantile Bank (IL) is headquartered in Quincy and is the 120th largest bank in the state of Illinois. It is also the 1,878th largest bank in the nation. It was established in 1906 and as of December of 2013, it had grown to 118 employees at 5 locations. Mercantile Bank (IL) has a C+ health rating.

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Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
B

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Mercantile Bank (IL) had $5.55 million in non-current loans and owned real-estate with $26.23 million in equity and loan loss allowances on hand to cover it. This gives Mercantile Bank (IL) a Texas Ratio of 21.16% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Mercantile Bank (IL) decreased dramatically from 38.43% as of December 31, 2012 to 21.16% as of December 31, 2013, resulting in a positive change of 44.93%.This indicates that the balance sheet and financial strength for Mercantile Bank (IL) has improved dramatically in recent periods.

Deposit Growth

GRADE:
F

In the past year, Mercantile Bank (IL) has decreased its total deposits by -$69.06 million, resulting in -18.52% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mercantile Bank (IL) has shown is poor.

Capitalization

GRADE:
C-

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mercantile Bank (IL) has $348.08 million in assets with $26.23 million in equity, resulting in a capitalization level of 7.54%, which is below average.

Institution Statistics

Overall
FDIC Certificate #11301
Year Established1906
Employees118
Primary RegulatorFDIC
Assets and Liabilities
Assets$348.08 million
Loans$225.50 million
Deposits$303.90 million
Equity Capital$26.22 million
Loan Loss Allowance$16,000
Unbacked Noncurrent Loans$2.48 million
Real Estate Owned$3.07 million
Historic Data - December 2012
Assets$420.53 million
Equity Capital$28.70 million
Loan Loss Allowance$6.77 million
Unbacked Noncurrent Loans$2.48 million
Real Estate Owned$5.47 million
Profit Margin - Quarterly
Net Interest Margin0.15%
Return on Assets0%
Return on Equity0.04%
Interest Income$607,000
Rates

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Mercantile Bank (IL) Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Corporate Earnings Credit Rate
0.15%$1k-Blue Moon Savings
0.15%--Health Savings Account
0.15%--M-Class SSA (Safety Sweep Account)
0.15%$10k-Business Savings
0.05%--Pennywise Savings
0.05%--DreamBuilder Savings

Mercantile Bank (IL) Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$5k-Summit Money Market
0.15%$50k-Star Money Market
0.15%$150k-Business Money Market

Mercantile Bank (IL) Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--eBanking Checking Account
0.05%--M Class Checking
0.05%$1,500-NOW Checking
0.05%$1,500-Business NOW Checking

Mercantile Bank (IL) CD Rates

DetailsAPYMINMAXPRODUCT
1.21%$1k-60 Month CD
1.01%$1k-48 Month CD
1.01%$100-48 Month College Saver CD
0.70%$1k-36 Month CD
0.45%$1k-30 Month CD
0.43%$1k-24 Month CD
0.43%$100-24 Month College Saver CD
0.40%$1k-18 Month CD
0.40%$100-18 Month Back to Savings CD
0.32%$1k-12 Month CD
0.20%$1k-182 Day CD
0.20%$1k-9 Month CD
0.15%$1k-92-181 Day CD
0.10%$1k-91 Day CD
0.05%$1k-1-31 Day CD
0.05%$1k-32 Day CD

Mercantile Bank (IL) IRA Rates

DetailsAPYMINMAXPRODUCT
1.21%$500-60 Month Roth IRA
1.01%$500-48 Month IRA
0.70%$500-36 Month IRA
0.45%$500-30 Month IRA
0.43%$500-24 Month IRA
0.40%$25-18 Month IRA
0.32%$500-12 Month IRA
0.30%$500-1-11 Month Investor's IRA (less than 12 month term)
Locations


Mercantile Bank (IL) Locations
Mercantile Bank200 North 33rd StreetQuincy, IL 62301
Maine Street Branch440 Maine StreetQuincy, IL 62301
Broadway Street Wal-Mart Branch5211 Broadway StreetQuincy, IL 62301
Motor FacilityEighth and Jersey StreetsQuincy, IL 62301