FDIC Certificate #: 29951 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Chemical Bank West (#26489) Federal Reserve ID: 783376 Date Established: January 01, 1887 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 5 (Interstate: No) OTS Docket #: 4411 FDIC's unique #: 42785 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: January 26, 1938 Last Structure Change Effective Date: September 15, 2001 Last Structure Change Process Date: September 28, 2001 Last Data Update: September 28, 2001 Data Source Date: April 05, 2012
Location
Address: 2185 3 Mile Rd Nw, Grand Rapids, MI 49544 County: Kent Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Grand Rapids Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Metropolitan Statistical Area (MSA): Grand Rapids-Muskegon-Holland, MI (#3000) Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266) Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340) CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
Financial Summary
Total assets: $279.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
71Total employees (full-time equivalent)
$283,938Total assets
$8,983Cash and due from depository institutions
$3,205Interest-bearing balances
$38,917Securities
$0Federal funds sold & reverse repurchase agreements
$229,708Net loans & leases
$1,090Loan loss allowance
$0Trading account assets
$3,649Bank premises and fixed assets
$521Other real estate owned
$224Goodwill and other intangibles
$0Life insurance assets
$1,936All other assets
$283,938Total liabilities and capital
$261,908Total liabilities
$174,868Total deposits
$166,857Interest-bearing deposits
$174,868Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$83,705Other borrowed funds
$0Subordinated debt
$3,335All other liabilities
$22,030Total equity capital
$22,030Total bank equity capital
$22,030Perpetual preferred stock
$0Common stock
$1Surplus
$11,770Undivided profits
Memoranda
$10,259Noncurrent loans and leases
$42,943Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$707Earning assets
$0Long-term assets (5+ years)
$1,284Average Assets, year-to-date
$271,830Average Assets, quarterly
$129,895Volatile liabilities
$264,105Insider loans
$279,912FHLB advances
$128,294Loans and leases held for sale
$898Unused loan commitments
$0Tier 1 (core) risk-based capital
$219Tier 2 risk-based capital
$4,139Total risk weighted assets
$42,943Total unused commitments
$0Restructured Loans and leases
$1,090Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$20,892Total interest income
$13,616Total interest expense
$7,276Net interest income
$490Provision for loan and lease losses
$429Total noninterest income
$0Fiduciary activities
$162Service charges on deposit accounts
$0Trading account gains & fees
$267Additional noninterest income
$5,091Total noninterest expense
$2,661Salaries and employee benefits
$686Premises and equipment expense
$1,744Additional noninterest expense
$2,124Pre-tax net operating income
$8Securities gains (losses)
$758Applicable income taxes
$1,374Income before extraordinary items
$0Extraordinary gains - net
$1,374Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$36Sale, conversion, retirement of capital stock, net
$450Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.23%Yield on earning assets
5.36%Cost of funding earning assets
2.87%Net interest margin
0.17%Noninterest income to earning assets
2.01%Noninterest expense to earning assets
0.52%Net operating income to assets
0.52%Return on assets (ROA)
0.81%Pretax return on assets
6.53%Return on equity (ROE)
4.39%Retained earnings to average equity (YTD only)
0.02%Net charge-offs to loans
1361.11%Credit loss provision to net charge-offs
72.61%Efficiency ratio
65,737Assets per employee
4.00%Cash dividends to net income (YTD only)
Condition Ratios (%)
32.75%Loss allowance to loans
0.47%Loss allowance to noncurrent loans
154.17%Noncurrent assets plus other real estate owned to assets
0.43%Noncurrent loans to loans
0.31%Net loans and leases to deposits
131.36%Net loans and leases to core deposits
219.57%Equity capital to assets
7.76%Core capital (leverage) ratio
8.05%Tier 1 risk-based capital ratio
11.45%Total risk-based capital ratio
Memoranda
$12Average assets
$264,105Average earning assets
$21,026Average equity
$253,840Average loans
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