FMB-Old State Bank in Fremont, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1997

FMB-Old State Bank in Fremont, Michigan (MI)
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FMB-Old State Bank - Overview

General
FDIC Certificate #: 990
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Huntington National Bank (#6560)
Federal Reserve ID: 858948
Date Established: January 01, 1883
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 9493
FDIC's unique #: 652
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: 2 West Main Street, Fremont, MI 49412
County: Newaygo
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
Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266)
Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340)
CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
Financial Summary
Total assets: $76.2 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)
$39Total assets
$73,134Cash and due from depository institutions
$2,412Interest-bearing balances
$30Securities
$23,891Federal funds sold & reverse repurchase agreements
$1,100Net loans & leases
$43,763Loan loss allowance
$548Trading account assets
$0Bank premises and fixed assets
$1,021Other real estate owned
$0Goodwill and other intangibles
$947Life insurance assets
$0All other assets
$0Total liabilities and capital
$73,134Total liabilities
$68,267Total deposits
$65,871Interest-bearing deposits
$56,660Deposits held in domestic offices
65871.00%% insured (estimated)
$91Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$2,000Subordinated debt
$0All other liabilities
$396Total equity capital
$396Total bank equity capital
$4,867Perpetual preferred stock
$0Common stock
$782Surplus
$1,839Undivided profits
Memoranda
$2,246Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$131Income earned, not collected on loans
$287Earning assets
$68,784Long-term assets (5+ years)
$7,323Average Assets, year-to-date
$69,598Average Assets, quarterly
$71,749Volatile liabilities
$6,883Insider loans
$823FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$4,982Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,886Total risk weighted assets
$43,465Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$5,488Total interest expense
$2,596Net interest income
$2,892Provision for loan and lease losses
$52Total noninterest income
$980Fiduciary activities
$0Service charges on deposit accounts
$324Trading account gains & fees
$0Additional noninterest income
$656Total noninterest expense
$2,457Salaries and employee benefits
$1,226Premises and equipment expense
$381Additional noninterest expense
$850Pre-tax net operating income
$1,363Securities gains (losses)
$0Applicable income taxes
$390Income before extraordinary items
$973Extraordinary gains - net
$0Net income attributable to bank
$973Net charge-offs
$65Cash dividends
$300Sale, 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
8.47%Cost of funding earning assets
4.01%Net interest margin
4.46%Noninterest income to earning assets
1.51%Noninterest expense to earning assets
3.79%Net operating income to assets
1.40%Return on assets (ROA)
1.40%Pretax return on assets
1.96%Return on equity (ROE)
21.63%Retained earnings to average equity (YTD only)
14.96%Net charge-offs to loans
0.16%Credit loss provision to net charge-offs
80.00%Efficiency ratio
63,456Assets per employee
1.88%Cash dividends to net income (YTD only)
Condition Ratios (%)
30.83%Loss allowance to loans
1.24%Loss allowance to noncurrent loans
418.32%Noncurrent assets plus other real estate owned to assets
0.18%Noncurrent loans to loans
0.30%Net loans and leases to deposits
66.44%Net loans and leases to core deposits
74.19%Equity capital to assets
6.65%Core capital (leverage) ratio
6.83%Tier 1 risk-based capital ratio
11.24%Total risk-based capital ratio
Memoranda
$12Average assets
$69,598Average earning assets
$4,498Average equity
$64,795Average loans

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