First Federal of Northern Michigan in city_name, state_name

First Federal of Northern Michigan in Alpena, Michigan (MI)
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First Federal of Northern Michigan - Overview

General
FDIC Certificate #: 30985
Status: Active
Federal Reserve ID: 745374
Date Established: September 10, 1957
WWW: http://www.first-federal.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 6210
FDIC's unique #: 43819
Numeric code: 37
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: September 10, 1957
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: 100 South Second Avenue, Alpena, MI 49707
County: Alpena
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Detroit
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Alpena, MI (#10980)
CBSA Micro Statistical Area: Yes
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $216.9 mil
Equity capital: $23.9 mil
Deposits held in domestic offices: $151.7 mil
Return on assets (ROA): 0.50% ($1.1 mil)
Quarterly return on assets: 0.49% ($1.1 mil)
Return on Equity (ROE): 4.71% ($1.1 mil)
Quarterly return on equity: 4.56% ($1.1 mil)
Net income: $1.1 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 0.51% ($1,106.4 mil)
Quarterly Pretax return on assets: 0.50% ($1,084.7 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
63Total employees (full-time equivalent)
$216,946Total assets
$2,763Cash and due from depository institutions
$472Interest-bearing balances
$55,484Securities
$0Federal funds sold & reverse repurchase agreements
$140,392Net loans & leases
$1,243Loan loss allowance
$0Trading account assets
$5,846Bank premises and fixed assets
$2,793Other real estate owned
$1,328Goodwill and other intangibles
$216,946Life insurance assets
$8,340All other assets
$193,063Total liabilities and capital
$151,664Total liabilities
$138,039Total deposits
$151,664Interest-bearing deposits
$97Deposits held in domestic offices
5592.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$34,500Trading liabilities
$0Other borrowed funds
$1,307Subordinated debt
$23,883All other liabilities
$23,883Total equity capital
$23,883Total bank equity capital
$0Perpetual preferred stock
$1,659Common stock
$17,520Surplus
$4,704Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$3,228Income earned, not collected on loans
$0Earning assets
$1,132Long-term assets (5+ years)
$196,348Average Assets, year-to-date
$0Average Assets, quarterly
$217,535Volatile liabilities
$219,221Insider loans
$137,120FHLB advances
$215,613Loans and leases held for sale
$1,413Unused loan commitments
$0Tier 1 (core) risk-based capital
$22,481Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$19,181Restructured Loans and leases
$5,937Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$10,453Total interest income
$2,262Total interest expense
$8,191Net interest income
$130Provision for loan and lease losses
$2,000Total noninterest income
$0Fiduciary activities
$416Service charges on deposit accounts
$0Trading account gains & fees
$1,584Additional noninterest income
$8,956Total noninterest expense
$4,747Salaries and employee benefits
$1,049Premises and equipment expense
$3,160Additional noninterest expense
$1,105Pre-tax net operating income
$0Securities gains (losses)
$16Applicable income taxes
$1,089Income before extraordinary items
$0Extraordinary gains - net
$1,089Net income attributable to bank
$0Net charge-offs
$1,089Cash dividends
$1,134Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.33%Yield on earning assets
1.15%Cost of funding earning assets
4.17%Net interest margin
1.02%Noninterest income to earning assets
4.56%Noninterest expense to earning assets
0.50%Net operating income to assets
0.50%Return on assets (ROA)
0.51%Pretax return on assets
4.71%Return on equity (ROE)
4.71%Retained earnings to average equity (YTD only)
0.76%Net charge-offs to loans
11.46%Credit loss provision to net charge-offs
1.09%Efficiency ratio
84,987Assets per employee
3.44%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.88%Loss allowance to noncurrent loans
38.51%Noncurrent assets plus other real estate owned to assets
2.78%Noncurrent loans to loans
2.28%Net loans and leases to deposits
92.57%Net loans and leases to core deposits
96.89%Equity capital to assets
11.01%Core capital (leverage) ratio
10.43%Tier 1 risk-based capital ratio
16.40%Total risk-based capital ratio
Memoranda
$17Average assets
$217,535Average earning assets
$23,116Average equity
$196,285Average loans

List of branches

8 Michigan Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	43819	First Federal Of Northern Michigan	100 South Second Avenue, Alpena, MI 49707	September 10, 1957	Full Service Brick and Mortar
100	283067	Mio Branch	308 N Morenci Street, Mio, MI 48647	September 10, 1957	Full Service Brick and Mortar
101	283068	Cheboygan Branch	101 South Main, Cheboygan, MI 49721	August 10, 1992	Full Service Brick and Mortar
102	264285	Ripley Branch	300 South Ripley Boulevard, Alpena, MI 49707	January 01, 1890	Full Service Brick and Mortar
103	264296	Oscoda Branch	201 North State Street, Oscoda, MI 48750	January 01, 1890	Full Service Brick and Mortar
104	360680	Lewiston Branch	2885 S. County Road 489, Lewiston, MI 49756	November 11, 2000	Full Service Brick and Mortar
106	227899	Alanson Branch	6230 River Street, Alanson, MI 49706	July 08, 1968	Full Service Brick and Mortar
107	520574	Gaylord Branch	1000 S Wisconsin Ave, Gaylord, MI 49735	June 04, 2001	Full Service Brick and Mortar

First Federal of Northern Michigan in Alpena, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Federal of Northern Michigan - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

First Federal of Northern Michigan in Alpena, Michigan (MI)Overview, Financial Summary, Detailed Financial Reports, Branches

First Federal of Northern Michigan - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

First Federal of Northern Michigan in Alpena, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches