MFC First National Bank in Escanaba, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 22, 2000

MFC First National Bank in Escanaba, Michigan (MI)
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MFC First National Bank - Overview

General
FDIC Certificate #: 5055
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Wells Fargo Bank Michigan, National Association (#5067)
Federal Reserve ID: 236555
Date Established: January 01, 1871
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)
OTS Docket #: 9371
FDIC's unique #: 3375
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: January 01, 1934
Last Structure Change Effective Date: July 22, 2000
Last Structure Change Process Date: August 28, 2000
Last Data Update: August 28, 2000
Data Source Date: April 05, 2012
Location
Address: 1205 Ludington Street, Escanaba, MI 49829
County: Delta
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: San Francisco
FDIC Field Office: Appleton
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Escanaba, MI (#21540)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $152.2 mil

1992 - 1999 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, 1999)

Dollar figures in thousands
73Total employees (full-time equivalent)
$138,378Total assets
$6,571Cash and due from depository institutions
$51Interest-bearing balances
$24,341Securities
$0Federal funds sold & reverse repurchase agreements
$99,812Net loans & leases
$1,573Loan loss allowance
$0Trading account assets
$4,927Bank premises and fixed assets
$413Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,314All other assets
$138,378Total liabilities and capital
$124,847Total liabilities
$117,932Total deposits
$105,665Interest-bearing deposits
$117,932Deposits held in domestic offices
0.00%% insured (estimated)
$5,450Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,465All other liabilities
$13,531Total equity capital
$13,531Total bank equity capital
$13,531Perpetual preferred stock
$0Common stock
$700Surplus
$2,720Undivided profits
Memoranda
$10,111Noncurrent loans and leases
$20,591Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$80Earning assets
$0Long-term assets (5+ years)
$592Average Assets, year-to-date
$124,204Average Assets, quarterly
$8,012Volatile liabilities
$135,513Insider loans
$138,269FHLB advances
$24,336Loans and leases held for sale
$6,469Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$20,591Total unused commitments
$62Restructured Loans and leases
$1,398Derivatives

Income and Expense (December 31, 1999)

Dollar figures in thousands
$10,474Total interest income
$4,564Total interest expense
$5,910Net interest income
$300Provision for loan and lease losses
$2,679Total noninterest income
$1,686Fiduciary activities
$355Service charges on deposit accounts
$0Trading account gains & fees
$638Additional noninterest income
$5,772Total noninterest expense
$2,769Salaries and employee benefits
$951Premises and equipment expense
$2,052Additional noninterest expense
$2,517Pre-tax net operating income
$0Securities gains (losses)
$756Applicable income taxes
$1,761Income before extraordinary items
$0Extraordinary gains - net
$1,761Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$124Sale, conversion, retirement of capital stock, net
$975Net operating income

Performance and Condition Ratios (December 31, 1999)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.54%Yield on earning assets
3.72%Cost of funding earning assets
4.82%Net interest margin
2.18%Noninterest income to earning assets
4.71%Noninterest expense to earning assets
1.30%Net operating income to assets
1.30%Return on assets (ROA)
1.86%Pretax return on assets
13.31%Return on equity (ROE)
5.94%Retained earnings to average equity (YTD only)
0.13%Net charge-offs to loans
241.94%Credit loss provision to net charge-offs
22.72%Efficiency ratio
67,202Assets per employee
1.90%Cash dividends to net income (YTD only)
Condition Ratios (%)
55.37%Loss allowance to loans
1.55%Loss allowance to noncurrent loans
1966.25%Noncurrent assets plus other real estate owned to assets
0.36%Noncurrent loans to loans
0.08%Net loans and leases to deposits
84.64%Net loans and leases to core deposits
100.77%Equity capital to assets
9.78%Core capital (leverage) ratio
10.05%Tier 1 risk-based capital ratio
12.51%Total risk-based capital ratio
Memoranda
$14Average assets
$135,513Average earning assets
$13,230Average equity
$122,672Average loans

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