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First Mercantile history
First Mercantile company history timeline
Organized in 1969, Mercantile Bankshares Corp. was the first bank holding company in the state of Maryland.
In 1970, it acquired Bank of Southern Maryland through a stock swap valued at about $4 million.
1973 net income totaled $9.1 million.
In 1973, Mercantile Bankshares formed MBC Financial Corp., a commercial financing subsidiary which specialized in inventory and receivables lending.
1981 return on equity was 14 percent, "well above the profitability of the average regional bank," according to the Wall Street Transcript.
Moreover, earnings totaled $68.8 million, a four percent rise over 1989.
However, the region's continued economic downslide affected 1991's net income, which rose only two percent to $70.5 million.
In 1992, a number of large national and multinational banks opened branches in Mercantile's traditional market areas, providing a potential threat to the bank's profitability.
Consolidated net income rose for the 18th consecutive year in 1994, to $82.4 million.
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First Mercantile competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Investacorp | 1978 | $20.4M | 77 | - |
| MEFA | 1982 | $380,000 | 10 | 1 |
| Guidestone Financial Resources | - | $2.2M | 50 | 13 |
| Siskiyou Credit Union | 1962 | $2.4M | 30 | - |
| Journal of Accountancy | - | $361.4M | 50 | - |
| National Benefit Services | 1986 | $8.5M | 240 | 4 |
| Federal Reserve Bank | - | $6.3M | 50 | 178 |
| The Retirement Plan Company | 1992 | $6.4M | 5 | - |
| Corporate Office Properties Trust | 1988 | $753.3M | 394 | 777 |
| Fiduciary Trust International | 1931 | $230.0M | 704 | - |
First Mercantile history FAQs
Zippia gives an in-depth look into the details of First Mercantile, including salaries, political affiliations, employee data, and more, in order to inform job seekers about First Mercantile. The employee data is based on information from people who have self-reported their past or current employments at First Mercantile. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by First Mercantile. The data presented on this page does not represent the view of First Mercantile and its employees or that of Zippia.
First Mercantile may also be known as or be related to FIRST MERCANTILE TRUST CO, First Mercantile and First Mercantile Trust Co.