FMB-Sault Bank in Sault Ste. Marie, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 30, 1997

FMB-Sault Bank in Sault Ste. Marie, Michigan (MI)
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FMB-Sault Bank - Overview

General
FDIC Certificate #: 1096
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Huntington National Bank (#6560)
Federal Reserve ID: 266057
Date Established: November 20, 1886
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 9721
FDIC's unique #: 741
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: 511-515 Ashmun Street, Sault Ste. Marie, MI 49783
County: Chippewa
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
Core Based Statistical Area (CBSA): Sault Ste. Marie, MI (#42300)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $135.4 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)
$57Total assets
$127,283Cash and due from depository institutions
$3,630Interest-bearing balances
$43Securities
$31,270Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$88,135Loan loss allowance
$1,116Trading account assets
$0Bank premises and fixed assets
$2,014Other real estate owned
$0Goodwill and other intangibles
$2,234Life insurance assets
$0All other assets
$0Total liabilities and capital
$127,283Total liabilities
$118,023Total deposits
$109,888Interest-bearing deposits
$97,937Deposits held in domestic offices
109888.00%% insured (estimated)
$87Federal funds purchased & repurchase agreements
$6,050Trading liabilities
$0Other borrowed funds
$485Subordinated debt
$0All other liabilities
$1,600Total equity capital
$1,600Total bank equity capital
$9,260Perpetual preferred stock
$0Common stock
$1,500Surplus
$7,500Undivided profits
Memoranda
$260Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$53Income earned, not collected on loans
$543Earning assets
$119,448Long-term assets (5+ years)
$6,338Average Assets, year-to-date
$122,242Average Assets, quarterly
$125,525Volatile liabilities
$23,016Insider loans
$815FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$15,520Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$9,263Total risk weighted assets
$85,432Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$9,873Total interest expense
$4,737Net interest income
$5,136Provision for loan and lease losses
$90Total noninterest income
$756Fiduciary activities
$0Service charges on deposit accounts
$153Trading account gains & fees
$0Additional noninterest income
$603Total noninterest expense
$3,548Salaries and employee benefits
$2,152Premises and equipment expense
$526Additional noninterest expense
$870Pre-tax net operating income
$2,254Securities gains (losses)
$0Applicable income taxes
$612Income before extraordinary items
$1,642Extraordinary gains - net
$0Net income attributable to bank
$1,642Net charge-offs
$15Cash dividends
$1,800Sale, 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
8.60%Cost of funding earning assets
4.13%Net interest margin
4.48%Noninterest income to earning assets
0.66%Noninterest expense to earning assets
3.09%Net operating income to assets
1.34%Return on assets (ROA)
1.34%Pretax return on assets
1.84%Return on equity (ROE)
17.60%Retained earnings to average equity (YTD only)
-1.69%Net charge-offs to loans
0.02%Credit loss provision to net charge-offs
600.00%Efficiency ratio
60,217Assets per employee
2.23%Cash dividends to net income (YTD only)
Condition Ratios (%)
109.62%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
2105.66%Noncurrent assets plus other real estate owned to assets
0.04%Noncurrent loans to loans
0.06%Net loans and leases to deposits
80.20%Net loans and leases to core deposits
94.36%Equity capital to assets
7.28%Core capital (leverage) ratio
7.33%Tier 1 risk-based capital ratio
10.84%Total risk-based capital ratio
Memoranda
$12Average assets
$122,242Average earning assets
$9,328Average equity
$114,761Average loans

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