CB North in Charlevoix, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 1997

CB North in Charlevoix, Michigan (MI)
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CB North - Overview

General
FDIC Certificate #: 13929
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Citizens Bank (#986)
Federal Reserve ID: 810843
Date Established: January 01, 1884
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Interstate: No)
FDIC's unique #: 8713
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: Febuary 24, 1934
Last Structure Change Effective Date: July 01, 1997
Last Structure Change Process Date: July 22, 1997
Last Data Update: July 22, 1997
Data Source Date: April 05, 2012
Location
Address: 201 State Street, Charlevoix, MI 49720
County: Charlevoix
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
Financial Summary
Total assets: $212.4 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$75Total assets
$183,174Cash and due from depository institutions
$6,978Interest-bearing balances
$0Securities
$7,387Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$154,023Loan loss allowance
$1,727Trading account assets
$0Bank premises and fixed assets
$4,054Other real estate owned
$290Goodwill and other intangibles
$1,613Life insurance assets
$8,829All other assets
$0Total liabilities and capital
$183,174Total liabilities
$162,341Total deposits
$149,613Interest-bearing deposits
$128,461Deposits held in domestic offices
149613.00%% insured (estimated)
$88Federal funds purchased & repurchase agreements
$11,800Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$928Total equity capital
$928Total bank equity capital
$20,833Perpetual preferred stock
$0Common stock
$925Surplus
$16,000Undivided profits
Memoranda
$3,908Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$537Income earned, not collected on loans
$909Earning assets
$161,410Long-term assets (5+ years)
$28,555Average Assets, year-to-date
$169,697Average Assets, quarterly
$181,327Volatile liabilities
$35,064Insider loans
$3,342FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$18,316Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$12,050Total risk weighted assets
$137,539Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$12,662Total interest expense
$5,680Net interest income
$6,982Provision for loan and lease losses
$1,446Total noninterest income
$1,158Fiduciary activities
$0Service charges on deposit accounts
$730Trading account gains & fees
$0Additional noninterest income
$428Total noninterest expense
$5,543Salaries and employee benefits
$1,923Premises and equipment expense
$890Additional noninterest expense
$2,730Pre-tax net operating income
$1,151Securities gains (losses)
$295Applicable income taxes
$526Income before extraordinary items
$920Extraordinary gains - net
$0Net income attributable to bank
$920Net charge-offs
$702Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.53%Cost of funding earning assets
3.82%Net interest margin
4.70%Noninterest income to earning assets
0.78%Noninterest expense to earning assets
3.73%Net operating income to assets
0.43%Return on assets (ROA)
0.54%Pretax return on assets
0.85%Return on equity (ROE)
4.47%Retained earnings to average equity (YTD only)
4.47%Net charge-offs to loans
0.52%Credit loss provision to net charge-offs
205.98%Efficiency ratio
53,686Assets per employee
2.44%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.11%Loss allowance to noncurrent loans
321.60%Noncurrent assets plus other real estate owned to assets
0.45%Noncurrent loans to loans
0.34%Net loans and leases to deposits
102.95%Net loans and leases to core deposits
121.90%Equity capital to assets
11.37%Core capital (leverage) ratio
6.79%Tier 1 risk-based capital ratio
8.76%Total risk-based capital ratio
Memoranda
$10Average assets
$169,697Average earning assets
$20,594Average equity
$148,506Average loans

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