Edgewater Bank in Saint Joseph, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Edgewater Bank in Saint Joseph, Michigan (MI)
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Edgewater Bank - Overview

  • General
  • FDIC Certificate #: 29981
    Status: Active
    Federal Reserve ID: 633677
    Date Established: January 01, 1910
    WWW: http://www.edgewaterbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 4476
    FDIC's unique #: 42815
    Numeric code: 34
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: July 05, 1938
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 321 Main Street, Saint Joseph, MI 49085
    County: Berrien
    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): Benton Harbor, MI (#870)
    Core Based Statistical Area (CBSA): Niles-Benton Harbor, MI (#35660)
    CBSA Metro Statistical Area: Niles-Benton Harbor, MI (#35660)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $136.8 mil
    Equity capital: $12.5 mil
    Deposits held in domestic offices: $114.5 mil
    Return on assets (ROA): 0.31% ($0.4 mil)
    Quarterly return on assets: 0.21% ($0.3 mil)
    Return on Equity (ROE): 3.73% ($0.4 mil)
    Quarterly return on equity: 2.32% ($0.3 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.33% ($451.5 mil)
    Quarterly Pretax return on assets: 0.22% ($301.0 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, 2011)

  • Dollar figures in thousands
  • 40Total employees (full-time equivalent)
  • $136,804Total assets
  • $7,228Cash and due from depository institutions
  • $4,916Interest-bearing balances
  • $14,645Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $107,177Net loans & leases
  • $1,268Loan loss allowance
  • $0Trading account assets
  • $4,386Bank premises and fixed assets
  • $335Other real estate owned
  • $557Goodwill and other intangibles
  • $136,804Life insurance assets
  • $2,476All other assets
  • $124,353Total liabilities and capital
  • $114,526Total liabilities
  • $103,026Total deposits
  • $114,526Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,500Trading liabilities
  • $0Other borrowed funds
  • $327Subordinated debt
  • $12,451All other liabilities
  • $12,451Total equity capital
  • $12,451Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $12,451Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,320Income earned, not collected on loans
  • $0Earning assets
  • $440Long-term assets (5+ years)
  • $126,738Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $143,408Volatile liabilities
  • $138,739Insider loans
  • $91,994FHLB advances
  • $136,434Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,081Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $16,166Restructured Loans and leases
  • $1,072Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,400Total interest income
  • $1,731Total interest expense
  • $4,669Net interest income
  • $50Provision for loan and lease losses
  • $956Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $956Additional noninterest income
  • $5,101Total noninterest expense
  • $2,372Salaries and employee benefits
  • $1,466Premises and equipment expense
  • $1,263Additional noninterest expense
  • $474Pre-tax net operating income
  • $0Securities gains (losses)
  • $24Applicable income taxes
  • $450Income before extraordinary items
  • $0Extraordinary gains - net
  • $450Net income attributable to bank
  • $0Net charge-offs
  • $450Cash dividends
  • $790Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.84%Yield on earning assets
  • 1.31%Cost of funding earning assets
  • 3.53%Net interest margin
  • 0.72%Noninterest income to earning assets
  • 3.86%Noninterest expense to earning assets
  • 0.31%Net operating income to assets
  • 0.31%Return on assets (ROA)
  • 0.33%Pretax return on assets
  • 3.73%Return on equity (ROE)
  • 3.73%Retained earnings to average equity (YTD only)
  • 0.69%Net charge-offs to loans
  • 6.33%Credit loss provision to net charge-offs
  • 0.66%Efficiency ratio
  • 89,547Assets per employee
  • 3.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 38.19%Noncurrent assets plus other real estate owned to assets
  • 2.67%Noncurrent loans to loans
  • 3.06%Net loans and leases to deposits
  • 93.58%Net loans and leases to core deposits
  • 95.77%Equity capital to assets
  • 9.10%Core capital (leverage) ratio
  • 8.85%Tier 1 risk-based capital ratio
  • 13.13%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $143,408Average earning assets
  • $12,058Average equity
  • $132,103Average loans

List of branches

  • 6 Michigan Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    042815Edgewater Bank321 Main Street, Saint Joseph, MI 49085January 01, 1910Full Service Brick and Mortar
    12780684509 Lake Street Branch4509 Lake Street, Bridgman, MI 49106January 01, 1910Full Service Brick and Mortar
    2278069167 Paw Paw Branch167 Paw Paw, Coloma, MI 49038January 01, 1910Full Service Brick and Mortar
    100278070201 N Phelps Branch201 North Phelps, Decatur, MI 49045January 01, 1910Full Service Brick and Mortar
    103438741720 East Front Street Branch720 East Front Street, Buchanan, MI 49107December 28, 1999Full Service Brick and Mortar
    104447919Hollywood Road Branch4097 Hollywood Road, Saint Joseph, MI 49085January 16, 2006Full Service Brick and Mortar

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