FDIC Certificate #: 57984 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Michigan Commerce Bank (#33134) Federal Reserve ID: 3335598 Date Established: July 13, 2005 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 433045 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: July 13, 2005 Last Structure Change Effective Date: March 31, 2010 Last Structure Change Process Date: April 14, 2010 Last Data Update: April 14, 2010 Data Source Date: April 05, 2012
Location
Address: 1988 N. Opdyke Road, Auburn Hills, MI 48326 County: Oakland Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Detroit Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Metropolitan Statistical Area (MSA): Detroit, MI (#2160) Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35) Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220) Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820) CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820) Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
Financial Summary
Total assets: $35.5 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
7Total employees (full-time equivalent)
$35,547Total assets
$4,486Cash and due from depository institutions
$4,378Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$28,668Net loans & leases
$1,795Loan loss allowance
$0Trading account assets
$48Bank premises and fixed assets
$2,027Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$318All other assets
$35,547Total liabilities and capital
$33,446Total liabilities
$33,306Total deposits
$31,304Interest-bearing deposits
$33,306Deposits held in domestic offices
96.83%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$140All other liabilities
$2,101Total equity capital
$2,101Total bank equity capital
$2,101Perpetual preferred stock
$0Common stock
$4,000Surplus
$4,100Undivided profits
Memoranda
$-5,999Noncurrent loans and leases
$261Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,615Earning assets
$93Long-term assets (5+ years)
$119Average Assets, year-to-date
$33,046Average Assets, quarterly
$1,758Volatile liabilities
$40,373Insider loans
$35,836FHLB advances
$10,095Loans and leases held for sale
$144Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$261Total unused commitments
$197Restructured Loans and leases
$398Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$2,119Total interest income
$1,025Total interest expense
$1,094Net interest income
$1,898Provision for loan and lease losses
-$158Total noninterest income
$0Fiduciary activities
$24Service charges on deposit accounts
$0Trading account gains & fees
-$182Additional noninterest income
$1,941Total noninterest expense
$588Salaries and employee benefits
$109Premises and equipment expense
$1,244Additional noninterest expense
-$2,903Pre-tax net operating income
$0Securities gains (losses)
$1,035Applicable income taxes
-$3,938Income before extraordinary items
$0Extraordinary gains - net
-$3,938Net income attributable to bank
$0Net charge-offs
-$3,938Cash dividends
$1,091Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.66%Yield on earning assets
2.74%Cost of funding earning assets
2.92%Net interest margin
-0.42%Noninterest income to earning assets
5.19%Noninterest expense to earning assets
-9.75%Net operating income to assets
-9.75%Return on assets (ROA)
-7.19%Pretax return on assets
-92.77%Return on equity (ROE)
-92.77%Retained earnings to average equity (YTD only)
3.15%Net charge-offs to loans
173.97%Credit loss provision to net charge-offs
-0.92%Efficiency ratio
207,372Assets per employee
5.08%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.89%Loss allowance to noncurrent loans
111.15%Noncurrent assets plus other real estate owned to assets
10.25%Noncurrent loans to loans
5.30%Net loans and leases to deposits
86.07%Net loans and leases to core deposits
123.51%Equity capital to assets
5.91%Core capital (leverage) ratio
5.93%Tier 1 risk-based capital ratio
6.90%Total risk-based capital ratio
Memoranda
$8Average assets
$40,373Average earning assets
$4,245Average equity
$37,419Average loans
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