Morton Community Bank Reports – 825146

Morton Community Bank Financial Reports

Quarter Ended: 2024-09-30

Data Updated on: 11/22/2024

Morton Community Bank is a Commercial bank, state charter, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC) located in Morton, IL. Established on 08/26/1961, the bank is regulated by the FDIC and has 53 domestic offices. It operates in the Peoria, IL.

The bank has 561 employees and holds $5,573,576k in total assets. With a focus on community banking, the bank has been serving its customers since 08/26/1961.

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Morton Community Bank Institution Profile

Established Date08/26/1961Institution ClassCommercial bank, state charter, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC)
Primary RegulatorFDICNumber of Domestic Offices53
Number of Foreign Offices0Number of US Offices0
Number of Employees561Directly owned by another bank (CERT)No
Community BankYesZIP61550
Ownership TypeNot MutualCityMorton
State Alpha codeILState and County Number17179
Subchapter S CorporationsYesTrust PowersN/A
Federal Reserve ID Number7Federal Reserve ID Number DescriptionCHICAGO
Office of The Comptroller District:CENTRAL DISTRICTOffice of Thrift Supervision RegionCentral
Last Structure Change Effective Date06/09/2023Date of Deposit Insurance08/26/1961
Primary Insurance AgencyDIF

Institution Profile Overview

Delve into the foundational details of Morton Community Bank with our “Institution Profile” table. The 08/26/1961 marks the bank’s inception, providing historical context. Categorized as a Commercial bank, state charter, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC), the bank operates under the oversight of FDIC, ensuring compliance and regulatory adherence.

53 domestic offices reflect the bank’s physical footprint, while insights into ownership type, trust powers, and regulatory affiliations contribute to understanding its operational structure. Details such as Morton, IL, and 61550 provide geographic context. Explore these attributes to gain a holistic view of Morton Community Bank in the financial landscape.

Morton Community Bank Financials

(USD, in thousands)

Total Assets$5,573,576Total Liabilities$5,113,257
Total Equity Capital$460,319Total Deposits$4,654,671
Net Loans and Leases$3,504,294Total Interest Income$66,957
Total Noninterest Income$5,819Total Interest Expense$27,950
Total Noninterest Expense$24,711Tier 1 Risk-Based Capital Ratio12.53%
Net Loans and Leases to Core DepositsN/AReturn on Assets1.44%
Return on Equity18.74%Efficiency Ratio51.45%

Financial Performance Overview

Gain a comprehensive perspective on Morton Community Bank’s financial landscape through our “Financials” table. The bank boasts total assets of $5,573,576k, showcasing its substantial scale and influential market presence. A nuanced breakdown reveals insights into the bank’s financial structure and stability, with total liabilities standing at $5,113,257k and total equity capital at $460,319k.

Delve into key operational metrics, including total deposits of $4,654,671k, net loans and leases at $3,504k, and a meticulous analysis of income and expense components. Explore vital ratios such as the Tier 1 Risk-Based Capital Ratio, standing at 12.5253, and Return on Assets at 1.44. These metrics provide valuable insights into the bank’s risk management strategies and overall profitability.

This detailed financial overview is designed to enhance your understanding of Morton Community Bank’s performance and competitive positioning within the financial industry.

Morton Community Bank Additional Financial Information

(USD, in thousands)

Earnings Coverage of Net Loan Charge-Offs(x)N/ANet Loans and Leases to Core DepositsN/A
Tier 1 Risk-Based Capital Ratio12.53%Securities Gains (Losses)$0
Goodwill and Other IntangiblesN/ACost of Funding Earning Assets0.00%
Yield on Earning Assets5.13%Total Interest Income$66,957
Applicable Income Taxes$185Loss Allowance to Loans and Leases1.12%
Net Loans and Leases$3,504,294Loss Allowance to Noncurrent Loans and Leases135.82%
Noncurrent Loans to Loans0.82%Net Income Attributable to Bank and Noncontrolling Interests$19,930
Net Interest Income$39,007Net Interest Margin2.99%
Net Operating Income to Assets1.44%Noninterest Income to Average Assets0.42%
Total Noninterest Income$5,819Noninterest Expense to Average Assets1.79%
Total Noninterest Expense$24,711Net Charge-Offs to Loans and Leases0.04%
All Other AssetsN/AOther Real Estate Owned$4,865
Other borrowed funds$438,786Pre-tax Net Operating Income$20,115
Pretax Return on Assets1.46%Return on Assets1.44%
Retained Earnings to Average Equity (YTD only)N/A

Insights into Financial Metrics

Enhance your understanding of Morton Community Bank‘s financial standing through our Additional Financial Information table. Explore key metrics such as Net Loans and Leases: $3,504,294k and Net Interest Income $39,007k to gain valuable insights into the bank’s core operations and revenue streams. Assess the Tier 1 Risk-Based Capital Ratio: 12.5253 for in-depth insights into capital adequacy and risk management strategies.

Delve into the intricacies of Net Charge-Offs to Loans and Leases: 0.04 to evaluate the bank’s asset quality and risk mitigation efforts. Examine the composition of income through Total Noninterest Income: $5,819k and evaluate operational efficiency using metrics like Efficiency Ratio: 51.45. This nuanced financial overview empowers a comprehensive analysis of Morton Community Bank‘s strategic financial position and performance in the industry.

Frequently Asked Questions (FAQs)

What is the asset size of Morton Community Bank?

The asset size of Morton Community Bank is approximately $5,573,576k, reflecting the bank’s scale and market presence.

How does the loan-to-deposit ratio of Morton Community Bank compare to industry benchmarks?

The loan-to-deposit ratio is a crucial measure of the bank’s financial health. For Morton Community Bank, this ratio stands at
75.29%
(please calculate and adjust this logic based on real data retrieval), compared to industry averages typically ranging from 80% to 90%.

What is the capital adequacy ratio for Morton Community Bank?

The Tier 1 Risk-Based Capital Ratio, a key indicator of the bank’s financial stability, is 12.5253.

What is the net interest margin of Morton Community Bank, and how has it trended over the past year?

The current net interest margin is 2.99. Historical trends would require a more detailed analysis over the past quarters, which can be provided upon request.

What is the percentage of non-performing loans on Morton Community Bank’s balance sheet?

The percentage of non-performing loans is an important metric indicating asset quality. For Morton Community Bank, this stands at 0.822.

Are there any recent regulatory changes that could impact Morton Community Bank’s operations?

Regulatory environments are dynamic. Specific recent changes would require further detailed scanning of regulatory updates impacting Morton Community Bank. For tailored insights, please consult our expert or access our detailed reports.

What is the history of Morton Community Bank?

Morton Community Bank was established on 08/26/1961. It has been serving the community for several decades, continuously adapting to the changing financial landscape. For a detailed history, please refer to the bank’s about page.

Is Morton Community Bank FDIC insured?

Yes, Morton Community Bank is FDIC insured, ensuring that deposits are protected up to the applicable limits. This underlines the bank’s commitment to maintaining customer trust and financial security.

What is the routing number for Morton Community Bank in OK?

The routing number for Morton Community Bank in Oklahoma is not available. It’s recommended to verify with the bank directly for transactions.

How big is Morton Community Bank?

Morton Community Bank is a significant player in the financial sector with total assets valued at $5,573,576k and a network of 53 domestic offices.

Is Morton Community Bank a local bank?

Morton Community Bank is often considered a local bank due to its strong community focus and local market presence, despite having a broader operational reach. This combination allows it to serve local communities effectively while benefiting from larger-scale operations.

This table provides key financial information about Morton Community Bank. Get more data about Morton Community Bank on Visbanking Report Portal.