FDIC Certificate #: 34919 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Michigan Commerce Bank (#33134) Federal Reserve ID: 2716613 Date Established: December 14, 1998 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 62036 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: December 14, 1998 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: Penobscot Building, 645 Griswold Street, Suite 70, Detroit, MI 48226 County: Wayne 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: Detroit-Livonia-Dearborn, MI (#19804)
Financial Summary
Total assets: $101.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
24Total employees (full-time equivalent)
$101,044Total assets
$1,534Cash and due from depository institutions
$564Interest-bearing balances
$622Securities
$0Federal funds sold & reverse repurchase agreements
$92,590Net loans & leases
$2,476Loan loss allowance
$0Trading account assets
$197Bank premises and fixed assets
$3,468Other real estate owned
$212Goodwill and other intangibles
$0Life insurance assets
$2,421All other assets
$101,044Total liabilities and capital
$92,539Total liabilities
$87,544Total deposits
$72,942Interest-bearing deposits
$87,544Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$4,600Other borrowed funds
$0Subordinated debt
$395All other liabilities
$8,505Total equity capital
$8,505Total bank equity capital
$8,505Perpetual preferred stock
$0Common stock
$2,077Surplus
$8,011Undivided profits
Memoranda
$-1,583Noncurrent loans and leases
$15,214Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$4,965Earning assets
$411Long-term assets (5+ years)
$452Average Assets, year-to-date
$93,776Average Assets, quarterly
$1,399Volatile liabilities
$106,278Insider loans
$101,890FHLB advances
$26,293Loans and leases held for sale
$2,352Unused loan commitments
$4,600Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$15,214Total unused commitments
$0Restructured Loans and leases
$1,176Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$6,858Total interest income
$3,023Total interest expense
$3,835Net interest income
$3,077Provision for loan and lease losses
$183Total noninterest income
$0Fiduciary activities
$69Service charges on deposit accounts
$0Trading account gains & fees
$114Additional noninterest income
$3,411Total noninterest expense
$1,697Salaries and employee benefits
$443Premises and equipment expense
$1,271Additional noninterest expense
-$2,470Pre-tax net operating income
$0Securities gains (losses)
-$823Applicable income taxes
-$1,647Income before extraordinary items
$0Extraordinary gains - net
-$1,647Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,955Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.87%Yield on earning assets
3.03%Cost of funding earning assets
3.84%Net interest margin
0.18%Noninterest income to earning assets
3.42%Noninterest expense to earning assets
-1.55%Net operating income to assets
-1.55%Return on assets (ROA)
-2.32%Pretax return on assets
-18.59%Return on equity (ROE)
-18.59%Retained earnings to average equity (YTD only)
1.95%Net charge-offs to loans
157.39%Credit loss provision to net charge-offs
0.31%Efficiency ratio
84,893Assets per employee
4.21%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.60%Loss allowance to noncurrent loans
49.87%Noncurrent assets plus other real estate owned to assets
8.35%Noncurrent loans to loans
5.22%Net loans and leases to deposits
105.76%Net loans and leases to core deposits
151.16%Equity capital to assets
8.42%Core capital (leverage) ratio
7.98%Tier 1 risk-based capital ratio
8.75%Total risk-based capital ratio
Memoranda
$10Average assets
$106,278Average earning assets
$8,860Average equity
$99,772Average loans
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