Central Bank of the Midwest (merged into The Central Trust Bank)

What sets Central Bank of the Midwest apart

How large is Central Bank of the Midwest?

The balance sheet of Central Bank of the Midwest at Q3 2021: assets $4.1 bn, deposits $3.4 bn, net loans $2.1 bn (loans equal to 61.52% of deposits). Securities make up 21.9% of total assets at Central Bank of the Midwest. Since Q1 2016, when Central Bank of the Midwest held $1.6 bn, its assets grew 153.4%. In the year to Q3 2021, deposits at Central Bank of the Midwest rose 14.9% while its total assets rose 14.0%. At Q3 2021, Central Bank of the Midwest employed 414 full-time equivalent staff across 48 offices, about $9.9 mn of assets per employee and $70.3 mn of deposits per office.

How much funding at Central Bank of the Midwest is uninsured?

At Central Bank of the Midwest, uninsured deposits (above the FDIC limit) made up 19.53% of domestic deposits at Q3 2021 (+1.43 pp on a year earlier). In dollars, Central Bank of the Midwest estimated $659.3 mn of uninsured deposits.

Key facts, Q3 2021

US rank of Central Bank of the Midwest: 1 = highest unless marked 1 = lowest.

The CET1 ratio of Central Bank of the Midwest stood at 13.68% in Q3 2021, +0.94 pp year on year. Low and high at Central Bank of the Midwest since Q1 2016: 9.86% (Q1 2016) to 13.68% (Q3 2021). Equity capital of Central Bank of the Midwest at Q3 2021: $525.8 mn, or 12.9% of total assets. Central Bank of the Midwest also reported a total capital ratio of 14.72% for Q3 2021, and a tier 1 leverage ratio of 8.58%.

On held-to-maturity securities, Central Bank of the Midwest carried an unrealized gain of $22,000 at Q3 2021, equal to 0.0% of equity capital. The gain fell by $64,000 over the year. The available-for-sale portfolio of Central Bank of the Midwest showed an unrealized gain of $637,000 at Q3 2021; the gain fell by $4.6 mn over the year.

For the year to Q3 2021, Central Bank of the Midwest earned a return on equity of 9.28%; return on assets: 1.21%. Net interest margin at Central Bank of the Midwest: 3.09%, -0.69 pp in a year. Central Bank of the Midwest net income: $35.7 mn, up 33.3% year on year. The efficiency ratio of Central Bank of the Midwest was 53.45%: about 53 cents cost per revenue dollar, against 54 cents at the median peer.

At Q3 2021, noncurrent loans were 0.53% of total loans at Central Bank of the Midwest; net charge-offs: 0.15% of average loans. Gross loans and leases at Central Bank of the Midwest: $2.1 bn at Q3 2021, against $2.2 bn at Q3 2020.

The peer group of Central Bank of the Midwest is the 6 banks nearest to it by total assets at Q3 2021: 3 larger and 3 smaller. Of the peers, 1 shares the charter type of Central Bank of the Midwest (state member bank) and 0 have head offices in Missouri. Against them, Central Bank of the Midwest shows CET1 ratio 13.68% against a peer median of 11.24%, return on equity 9.28% against a peer median of 11.71% and uninsured deposit share 19.53% against a peer median of 41.91%.

The FDIC history of Central Bank of the Midwest, oldest first; figures before and after each event are not like for like.

1. 7 December 2019. Absorbed BankLiberty (FDIC certificate 30817).
2. 4 April 2020. Absorbed Platte Valley Bank of Missouri (FDIC certificate 14869).
3. 1 October 2021. Merged into The Central Trust Bank (FDIC certificate 12633).

Large one-quarter moves at Central Bank of the Midwest

• Total assets at Central Bank of the Midwest changed by +36.1% in the quarter to 2019-12-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from BankLiberty.
• Total assets at Central Bank of the Midwest changed by +42.7% in the quarter to 2020-06-30: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Platte Valley Bank of Missouri.