FDIC Certificate #: 58340 Status: Active Federal Reserve ID: 3482166 Bank Holding Company (Regulatory Top Holder): Lotus Bancorp, Inc. (RSSDID: 3547935, Location: Novi, MI) Date Established: Febuary 28, 2007 WWW:http://www.lotusbank.net Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 446323 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: Febuary 28, 2007 Last Structure Change Effective Date: April 23, 2010 Last Structure Change Process Date: June 17, 2010 Last Data Update: June 17, 2010 Data Source Date: April 05, 2012
Location
Address: 44350 West 12 Mile Road, Novi, MI 48377 County: Oakland 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 Metropolitan Statistical Area (MSA): Detroit, MI (#2160) Consolidated Metropolitan Statistical Area (CMSA): Detroit-Ann Arbor-Flint, MI (#35) Combined Statistical Area (CSA): Detroit-Warren-Flint, MI (#220) Core Based Statistical Area (CBSA): Detroit-Warren-Livonia, MI (#19820) CBSA Metro Statistical Area: Detroit-Warren-Livonia, MI (#19820) Core Based Statistical Division: Warren-Troy-Farmington Hills, MI (#47644)
Financial Summary
Total assets: $70.0 mil Equity capital: $8.6 mil Deposits held in domestic offices: $61.3 mil Return on assets (ROA): 0.84% ($0.6 mil) Quarterly return on assets: 1.19% ($0.8 mil) Return on Equity (ROE): 7.29% ($0.7 mil) Quarterly return on equity: 9.80% ($0.9 mil) Net income: $0.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.84% ($588.4 mil) Quarterly Pretax return on assets: 1.19% ($833.5 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
14Total employees (full-time equivalent)
$70,046Total assets
$939Cash and due from depository institutions
$0Interest-bearing balances
$8,496Securities
$5,665Federal funds sold & reverse repurchase agreements
$51,523Net loans & leases
$1,101Loan loss allowance
$0Trading account assets
$2,937Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$70,046Life insurance assets
$486All other assets
$61,493Total liabilities and capital
$61,343Total liabilities
$53,390Total deposits
$61,343Interest-bearing deposits
$73Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$150Subordinated debt
$8,553All other liabilities
$8,553Total equity capital
$8,553Total bank equity capital
$0Perpetual preferred stock
$5,050Common stock
$5,591Surplus
$-2,088Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$336Income earned, not collected on loans
$0Earning assets
$255Long-term assets (5+ years)
$65,684Average Assets, year-to-date
$7,154Average Assets, quarterly
$70,382Volatile liabilities
$69,828Insider loans
$58,072FHLB advances
$70,793Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$8,376Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$10,956Restructured Loans and leases
$5,115Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$3,552Total interest income
$610Total interest expense
$2,942Net interest income
$138Provision for loan and lease losses
$187Total noninterest income
$0Fiduciary activities
$37Service charges on deposit accounts
$0Trading account gains & fees
$150Additional noninterest income
$2,400Total noninterest expense
$1,151Salaries and employee benefits
$356Premises and equipment expense
$893Additional noninterest expense
$591Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$591Income before extraordinary items
$0Extraordinary gains - net
$591Net income attributable to bank
$0Net charge-offs
$591Cash dividends
-$4Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.38%Yield on earning assets
0.92%Cost of funding earning assets
4.46%Net interest margin
0.28%Noninterest income to earning assets
3.64%Noninterest expense to earning assets
0.84%Net operating income to assets
0.84%Return on assets (ROA)
0.84%Pretax return on assets
7.29%Return on equity (ROE)
7.29%Retained earnings to average equity (YTD only)
-0.01%Net charge-offs to loans
-3450.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
76,702Assets per employee
5.00%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.09%Loss allowance to noncurrent loans
327.68%Noncurrent assets plus other real estate owned to assets
0.48%Noncurrent loans to loans
0.64%Net loans and leases to deposits
83.99%Net loans and leases to core deposits
106.16%Equity capital to assets
12.21%Core capital (leverage) ratio
11.83%Tier 1 risk-based capital ratio
14.42%Total risk-based capital ratio
Memoranda
$16Average assets
$70,382Average earning assets
$8,106Average equity
$65,972Average loans
List of branches
1 Michigan Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
446323
Lotus Bank
44350 West 12 Mile Road, Novi, MI 48377
Febuary 28, 2007
Full Service Brick and Mortar
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Lotus Bank.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: