First National Bank of Bad Axe in Bad Axe, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 25, 1993

First National Bank of Bad Axe in Bad Axe, Michigan (MI)
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First National Bank of Bad Axe - Overview

General
FDIC Certificate #: 20309
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Signature Bank (#10936)
Federal Reserve ID: 7241
Date Established: December 01, 1970
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 4 (Interstate: No)
FDIC's unique #: 13982
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: December 01, 1970
Last Structure Change Effective Date: June 25, 1993
Last Structure Change Process Date: July 29, 1993
Last Data Update: July 29, 1993
Data Source Date: April 05, 2012
Location
Address: One East Huron Avenue, Bad Axe, MI 48413
County: Huron
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
Financial Summary
Total assets: $104.0 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$58Total assets
$101,889Cash and due from depository institutions
$4,715Interest-bearing balances
$0Securities
$31,252Federal funds sold & reverse repurchase agreements
$4,350Net loans & leases
$58,487Loan loss allowance
$785Trading account assets
$0Bank premises and fixed assets
$1,413Other real estate owned
$314Goodwill and other intangibles
$1,347Life insurance assets
$11All other assets
$0Total liabilities and capital
$101,889Total liabilities
$94,824Total deposits
$94,096Interest-bearing deposits
$81,817Deposits held in domestic offices
94096.00%% insured (estimated)
$88Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$728Total equity capital
$728Total bank equity capital
$7,065Perpetual preferred stock
$0Common stock
$1,075Surplus
$1,567Undivided profits
Memoranda
$4,423Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$385Income earned, not collected on loans
$744Earning assets
$94,089Long-term assets (5+ years)
$4,427Average Assets, year-to-date
$98,835Average Assets, quarterly
$99,603Volatile liabilities
$4,112Insider loans
$38FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$6,406Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$7,054Total risk weighted assets
$62,427Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$7,871Total interest expense
$3,543Net interest income
$4,328Provision for loan and lease losses
$246Total noninterest income
$502Fiduciary activities
$0Service charges on deposit accounts
$146Trading account gains & fees
$0Additional noninterest income
$356Total noninterest expense
$3,176Salaries and employee benefits
$1,690Premises and equipment expense
$351Additional noninterest expense
$1,135Pre-tax net operating income
$1,408Securities gains (losses)
$33Applicable income taxes
$427Income before extraordinary items
$1,014Extraordinary gains - net
$0Net income attributable to bank
$1,014Net charge-offs
$186Cash dividends
$489Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.54%Cost of funding earning assets
3.84%Net interest margin
4.69%Noninterest income to earning assets
0.54%Noninterest expense to earning assets
3.44%Net operating income to assets
1.00%Return on assets (ROA)
1.03%Pretax return on assets
1.46%Return on equity (ROE)
14.90%Retained earnings to average equity (YTD only)
7.72%Net charge-offs to loans
0.32%Credit loss provision to net charge-offs
132.26%Efficiency ratio
65,590Assets per employee
1.76%Cash dividends to net income (YTD only)
Condition Ratios (%)
48.22%Loss allowance to loans
1.32%Loss allowance to noncurrent loans
203.90%Noncurrent assets plus other real estate owned to assets
0.69%Noncurrent loans to loans
0.65%Net loans and leases to deposits
62.16%Net loans and leases to core deposits
65.00%Equity capital to assets
6.93%Core capital (leverage) ratio
7.14%Tier 1 risk-based capital ratio
11.30%Total risk-based capital ratio
Memoranda
$13Average assets
$98,835Average earning assets
$6,804Average equity
$92,202Average loans

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