Lamb's Bank of Michigan City in Michigan, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 03, 1996

Lamb's Bank of Michigan City in Michigan, North Dakota (ND)
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Lamb's Bank of Michigan City - Overview

General
FDIC Certificate #: 10246
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First United Bank (#15472)
Federal Reserve ID: 685854
Date Established: January 02, 1900
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 6568
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 03, 1996
Last Structure Change Process Date: October 07, 1996
Last Data Update: October 07, 1996
Data Source Date: April 05, 2012
Location
Address: Main Street, Michigan, ND 58259
County: Nelson
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Financial Summary
Total assets: $10.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

Dollar figures in thousands
0Total employees (full-time equivalent)
$6Total assets
$9,479Cash and due from depository institutions
$670Interest-bearing balances
$187Securities
$2,387Federal funds sold & reverse repurchase agreements
$340Net loans & leases
$5,661Loan loss allowance
$147Trading account assets
$0Bank premises and fixed assets
$197Other real estate owned
$0Goodwill and other intangibles
$224Life insurance assets
$0All other assets
$0Total liabilities and capital
$9,479Total liabilities
$8,597Total deposits
$8,471Interest-bearing deposits
$7,016Deposits held in domestic offices
8471.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$126Total equity capital
$126Total bank equity capital
$882Perpetual preferred stock
$0Common stock
$300Surplus
$500Undivided profits
Memoranda
$82Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$22Income earned, not collected on loans
$149Earning assets
$8,575Long-term assets (5+ years)
$546Average Assets, year-to-date
$9,374Average Assets, quarterly
$9,478Volatile liabilities
$413Insider loans
$84FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$1,103Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$872Total risk weighted assets
$6,695Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$790Total interest expense
$285Net interest income
$505Provision for loan and lease losses
$9Total noninterest income
$26Fiduciary activities
$0Service charges on deposit accounts
$19Trading account gains & fees
$0Additional noninterest income
$7Total noninterest expense
$373Salaries and employee benefits
$207Premises and equipment expense
$37Additional noninterest expense
$129Pre-tax net operating income
$149Securities gains (losses)
$3Applicable income taxes
$32Income before extraordinary items
$120Extraordinary gains - net
$0Net income attributable to bank
$120Net charge-offs
$18Cash dividends
$96Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
9.22%Cost of funding earning assets
3.33%Net interest margin
5.89%Noninterest income to earning assets
0.30%Noninterest expense to earning assets
4.35%Net operating income to assets
1.25%Return on assets (ROA)
1.28%Pretax return on assets
1.62%Return on equity (ROE)
14.17%Retained earnings to average equity (YTD only)
2.83%Net charge-offs to loans
0.34%Credit loss provision to net charge-offs
90.00%Efficiency ratio
70,245Assets per employee
1.58%Cash dividends to net income (YTD only)
Condition Ratios (%)
80.00%Loss allowance to loans
2.53%Loss allowance to noncurrent loans
668.18%Noncurrent assets plus other real estate owned to assets
0.23%Noncurrent loans to loans
0.38%Net loans and leases to deposits
66.83%Net loans and leases to core deposits
70.25%Equity capital to assets
9.30%Core capital (leverage) ratio
9.52%Tier 1 risk-based capital ratio
13.02%Total risk-based capital ratio
Memoranda
$14Average assets
$9,374Average earning assets
$847Average equity
$8,570Average loans

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