FMB-Reed City Bank in Reed City, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1997

FMB-Reed City Bank in Reed City, Michigan (MI)
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FMB-Reed City Bank - Overview

General
FDIC Certificate #: 14001
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Huntington National Bank (#6560)
Federal Reserve ID: 598440
Date Established: March 01, 1934
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 52 (Interstate: No)
OTS Docket #: 14464
FDIC's unique #: 8756
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: March 05, 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, Reed City, MI 49677
County: Osceola
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: $79.6 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)
$37Total assets
$72,728Cash and due from depository institutions
$4,012Interest-bearing balances
$0Securities
$35,581Federal funds sold & reverse repurchase agreements
$250Net loans & leases
$31,287Loan loss allowance
$412Trading account assets
$0Bank premises and fixed assets
$687Other real estate owned
$27Goodwill and other intangibles
$884Life insurance assets
$0All other assets
$0Total liabilities and capital
$72,728Total liabilities
$67,755Total deposits
$66,356Interest-bearing deposits
$57,029Deposits held in domestic offices
66356.00%% insured (estimated)
$91Federal funds purchased & repurchase agreements
$1,043Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$356Total equity capital
$356Total bank equity capital
$4,973Perpetual preferred stock
$0Common stock
$600Surplus
$1,700Undivided profits
Memoranda
$2,673Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$301Income earned, not collected on loans
$168Earning assets
$67,118Long-term assets (5+ years)
$8,553Average Assets, year-to-date
$71,835Average Assets, quarterly
$72,975Volatile liabilities
$4,534Insider loans
$164FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$3,513Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,928Total risk weighted assets
$33,374Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$5,446Total interest expense
$2,217Net interest income
$3,229Provision for loan and lease losses
$318Total noninterest income
$878Fiduciary activities
$0Service charges on deposit accounts
$537Trading account gains & fees
$0Additional noninterest income
$341Total noninterest expense
$2,223Salaries and employee benefits
$1,216Premises and equipment expense
$271Additional noninterest expense
$736Pre-tax net operating income
$1,566Securities gains (losses)
$0Applicable income taxes
$320Income before extraordinary items
$1,246Extraordinary gains - net
$0Net income attributable to bank
$1,246Net charge-offs
$251Cash dividends
$750Sale, 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
8.10%Cost of funding earning assets
3.30%Net interest margin
4.80%Noninterest income to earning assets
1.31%Noninterest expense to earning assets
3.30%Net operating income to assets
1.73%Return on assets (ROA)
1.73%Pretax return on assets
2.18%Return on equity (ROE)
26.50%Retained earnings to average equity (YTD only)
10.55%Net charge-offs to loans
0.85%Credit loss provision to net charge-offs
126.69%Efficiency ratio
54,127Assets per employee
1.97%Cash dividends to net income (YTD only)
Condition Ratios (%)
60.19%Loss allowance to loans
1.30%Loss allowance to noncurrent loans
136.88%Noncurrent assets plus other real estate owned to assets
0.45%Noncurrent loans to loans
0.95%Net loans and leases to deposits
47.15%Net loans and leases to core deposits
49.77%Equity capital to assets
6.84%Core capital (leverage) ratio
6.71%Tier 1 risk-based capital ratio
14.77%Total risk-based capital ratio
Memoranda
$16Average assets
$71,835Average earning assets
$4,702Average equity
$67,274Average loans

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