FDIC Certificate #: 22057 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Independent Bank (#27811) Federal Reserve ID: 922942 Date Established: July 01, 1975 WWW:http://www.fnbgaylord.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 3 (Interstate: No) OTS Docket #: 9356 FDIC's unique #: 15309 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: July 01, 1975 Last Structure Change Effective Date: July 01, 2004 Last Structure Change Process Date: July 16, 2004 Last Data Update: July 16, 2004 Data Source Date: April 05, 2012
Location
Address: 501 West Main Street, Gaylord, MI 49735 County: Otsego 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: $154.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
68Total employees (full-time equivalent)
$172,385Total assets
$5,904Cash and due from depository institutions
$574Interest-bearing balances
$31,110Securities
$13,175Federal funds sold & reverse repurchase agreements
$111,994Net loans & leases
$6,582Loan loss allowance
$0Trading account assets
$2,399Bank premises and fixed assets
$978Other real estate owned
$981Goodwill and other intangibles
$0Life insurance assets
$5,844All other assets
$172,385Total liabilities and capital
$163,547Total liabilities
$135,816Total deposits
$118,851Interest-bearing deposits
$135,816Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$26,286Other borrowed funds
$0Subordinated debt
$1,445All other liabilities
$8,838Total equity capital
$8,838Total bank equity capital
$8,838Perpetual preferred stock
$0Common stock
$831Surplus
$9,616Undivided profits
Memoranda
$-1,609Noncurrent loans and leases
$7,415Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$12,650Earning assets
$24Long-term assets (5+ years)
$755Average Assets, year-to-date
$156,853Average Assets, quarterly
$23,626Volatile liabilities
$202,454Insider loans
$185,329FHLB advances
$43,964Loans and leases held for sale
$4,758Unused loan commitments
$26,286Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$135Total risk weighted assets
$7,415Total unused commitments
$429Restructured Loans and leases
$1,387Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$11,906Total interest income
$5,636Total interest expense
$6,270Net interest income
$5,849Provision for loan and lease losses
$1,817Total noninterest income
$0Fiduciary activities
$608Service charges on deposit accounts
$0Trading account gains & fees
$1,209Additional noninterest income
$7,168Total noninterest expense
$3,450Salaries and employee benefits
$762Premises and equipment expense
$2,956Additional noninterest expense
-$4,930Pre-tax net operating income
$44Securities gains (losses)
$153Applicable income taxes
-$5,039Income before extraordinary items
$0Extraordinary gains - net
-$5,039Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$3,779Sale, conversion, retirement of capital stock, net
$131Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.40%Yield on earning assets
3.03%Cost of funding earning assets
3.37%Net interest margin
0.98%Noninterest income to earning assets
3.85%Noninterest expense to earning assets
-2.51%Net operating income to assets
-2.49%Return on assets (ROA)
-2.41%Pretax return on assets
-40.58%Return on equity (ROE)
-41.64%Retained earnings to average equity (YTD only)
2.58%Net charge-offs to loans
154.78%Credit loss provision to net charge-offs
0.24%Efficiency ratio
88,636Assets per employee
2.54%Cash dividends to net income (YTD only)
Condition Ratios (%)
-2.60%Loss allowance to loans
5.55%Loss allowance to noncurrent loans
52.03%Noncurrent assets plus other real estate owned to assets
7.91%Noncurrent loans to loans
10.67%Net loans and leases to deposits
82.46%Net loans and leases to core deposits
111.74%Equity capital to assets
5.13%Core capital (leverage) ratio
4.59%Tier 1 risk-based capital ratio
8.07%Total risk-based capital ratio
Memoranda
$9Average assets
$202,454Average earning assets
$12,417Average equity
$186,003Average loans
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