FDIC Certificate #: 34314 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Michigan Commerce Bank (#33134) Federal Reserve ID: 2498786 Date Established: January 08, 1997 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 16089 FDIC's unique #: 57073 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: January 08, 1997 Last Structure Change Effective Date: March 31, 2009 Last Structure Change Process Date: April 02, 2009 Last Data Update: April 02, 2009 Data Source Date: April 05, 2012
Location
Address: 8700 North Second Street, Brighton, MI 48116 County: Livingston 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): Ann Arbor, MI (#440) 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: $114.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
26Total employees (full-time equivalent)
$114,429Total assets
$9,957Cash and due from depository institutions
$8,128Interest-bearing balances
$866Securities
$0Federal funds sold & reverse repurchase agreements
$99,019Net loans & leases
$1,386Loan loss allowance
$0Trading account assets
$204Bank premises and fixed assets
$2,081Other real estate owned
$323Goodwill and other intangibles
$0Life insurance assets
$1,979All other assets
$114,429Total liabilities and capital
$104,836Total liabilities
$95,950Total deposits
$86,843Interest-bearing deposits
$95,950Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,500Other borrowed funds
$0Subordinated debt
$386All other liabilities
$9,593Total equity capital
$9,593Total bank equity capital
$9,593Perpetual preferred stock
$0Common stock
$1,570Surplus
$7,103Undivided profits
Memoranda
$920Noncurrent loans and leases
$10,457Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,993Earning assets
$0Long-term assets (5+ years)
$399Average Assets, year-to-date
$108,013Average Assets, quarterly
$866Volatile liabilities
$112,586Insider loans
$116,911FHLB advances
$27,692Loans and leases held for sale
$3,890Unused loan commitments
$8,500Tier 1 (core) risk-based capital
$293Tier 2 risk-based capital
$293Total risk weighted assets
$10,457Total unused commitments
$0Restructured Loans and leases
$1,290Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$7,017Total interest income
$2,926Total interest expense
$4,091Net interest income
$559Provision for loan and lease losses
$289Total noninterest income
$0Fiduciary activities
$175Service charges on deposit accounts
$0Trading account gains & fees
$114Additional noninterest income
$3,248Total noninterest expense
$1,285Salaries and employee benefits
$472Premises and equipment expense
$1,491Additional noninterest expense
$573Pre-tax net operating income
$0Securities gains (losses)
$203Applicable income taxes
$370Income before extraordinary items
$0Extraordinary gains - net
$370Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$191Sale, conversion, retirement of capital stock, net
$573Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.85%Yield on earning assets
2.86%Cost of funding earning assets
3.99%Net interest margin
0.28%Noninterest income to earning assets
3.17%Noninterest expense to earning assets
0.33%Net operating income to assets
0.33%Return on assets (ROA)
0.51%Pretax return on assets
3.82%Return on equity (ROE)
-2.10%Retained earnings to average equity (YTD only)
0.19%Net charge-offs to loans
292.67%Credit loss provision to net charge-offs
5.93%Efficiency ratio
74,155Assets per employee
4.40%Cash dividends to net income (YTD only)
Condition Ratios (%)
154.86%Loss allowance to loans
1.38%Loss allowance to noncurrent loans
69.54%Noncurrent assets plus other real estate owned to assets
3.56%Noncurrent loans to loans
1.98%Net loans and leases to deposits
103.20%Net loans and leases to core deposits
138.96%Equity capital to assets
8.38%Core capital (leverage) ratio
8.14%Tier 1 risk-based capital ratio
9.10%Total risk-based capital ratio
Memoranda
$10Average assets
$112,586Average earning assets
$9,685Average equity
$102,410Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Brighton Commerce Bank.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: