FMB-Oceana Bank in Hart, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1997

FMB-Oceana Bank in Hart, Michigan (MI)
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FMB-Oceana Bank - Overview

General
FDIC Certificate #: 10948
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Huntington National Bank (#6560)
Federal Reserve ID: 864547
Date Established: January 01, 1887
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Interstate: No)
OTS Docket #: 12023
FDIC's unique #: 7008
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: January 01, 1934
Last Structure Change Effective Date: September 30, 1997
Last Structure Change Process Date: October 06, 1997
Last Data Update: October 06, 1997
Data Source Date: April 05, 2012
Location
Address: Main Street, Hart, MI 49420
County: Oceana
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: $111.8 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)
$43Total assets
$109,142Cash and due from depository institutions
$3,530Interest-bearing balances
$30Securities
$31,160Federal funds sold & reverse repurchase agreements
$16,100Net loans & leases
$53,993Loan loss allowance
$697Trading account assets
$0Bank premises and fixed assets
$1,280Other real estate owned
$0Goodwill and other intangibles
$1,251Life insurance assets
$1,828All other assets
$0Total liabilities and capital
$109,142Total liabilities
$100,852Total deposits
$99,119Interest-bearing deposits
$88,441Deposits held in domestic offices
99119.00%% insured (estimated)
$90Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$1,270Subordinated debt
$0All other liabilities
$463Total equity capital
$463Total bank equity capital
$8,290Perpetual preferred stock
$0Common stock
$900Surplus
$4,100Undivided profits
Memoranda
$3,290Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$126Income earned, not collected on loans
$337Earning assets
$101,283Long-term assets (5+ years)
$3,853Average Assets, year-to-date
$90,507Average Assets, quarterly
$98,940Volatile liabilities
$7,437Insider loans
$1,444FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$6,549Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$6,468Total risk weighted assets
$54,938Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$7,002Total interest expense
$2,913Net interest income
$4,089Provision for loan and lease losses
$90Total noninterest income
$688Fiduciary activities
$0Service charges on deposit accounts
$438Trading account gains & fees
$0Additional noninterest income
$250Total noninterest expense
$2,408Salaries and employee benefits
$1,313Premises and equipment expense
$328Additional noninterest expense
$767Pre-tax net operating income
$2,279Securities gains (losses)
$1Applicable income taxes
$587Income before extraordinary items
$1,693Extraordinary gains - net
$0Net income attributable to bank
$1,693Net charge-offs
$24Cash dividends
$800Sale, 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
8.28%Cost of funding earning assets
3.44%Net interest margin
4.83%Noninterest income to earning assets
0.81%Noninterest expense to earning assets
2.85%Net operating income to assets
1.87%Return on assets (ROA)
1.87%Pretax return on assets
2.52%Return on equity (ROE)
27.76%Retained earnings to average equity (YTD only)
14.64%Net charge-offs to loans
0.05%Credit loss provision to net charge-offs
375.00%Efficiency ratio
50,408Assets per employee
2.54%Cash dividends to net income (YTD only)
Condition Ratios (%)
47.25%Loss allowance to loans
1.27%Loss allowance to noncurrent loans
553.17%Noncurrent assets plus other real estate owned to assets
0.12%Noncurrent loans to loans
0.23%Net loans and leases to deposits
54.47%Net loans and leases to core deposits
58.26%Equity capital to assets
7.60%Core capital (leverage) ratio
7.17%Tier 1 risk-based capital ratio
11.77%Total risk-based capital ratio
Memoranda
$13Average assets
$90,507Average earning assets
$6,099Average equity
$84,600Average loans

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