FDIC Certificate #: 28136 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Commercial Bank (#18584) Federal Reserve ID: 854977 Date Established: January 01, 1924 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 966 FDIC's unique #: 40970 Numeric code: 34 Regulator: OTS Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: December 16, 1959 Last Structure Change Effective Date: July 16, 2010 Last Structure Change Process Date: July 19, 2010 Last Data Update: July 19, 2010 Data Source Date: April 05, 2012
Location
Address: 629 West State Street, Hastings, MI 49058 County: Barry Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Grand Rapids Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Combined Statistical Area (CSA): Grand Rapids-Muskegon-Holland, MI (#266) Core Based Statistical Area (CBSA): Grand Rapids-Wyoming, MI (#24340) CBSA Metro Statistical Area: Grand Rapids-Wyoming, MI (#24340)
Financial Summary
Total assets: $96.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
34Total employees (full-time equivalent)
$98,851Total assets
$10,353Cash and due from depository institutions
$8,077Interest-bearing balances
$1,029Securities
$0Federal funds sold & reverse repurchase agreements
$79,323Net loans & leases
$1,185Loan loss allowance
$0Trading account assets
$3,254Bank premises and fixed assets
$2,040Other real estate owned
$543Goodwill and other intangibles
$0Life insurance assets
$2,309All other assets
$98,851Total liabilities and capital
$96,093Total liabilities
$64,579Total deposits
$60,282Interest-bearing deposits
$64,579Deposits held in domestic offices
99.88%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$31,099Other borrowed funds
$0Subordinated debt
$415All other liabilities
$2,758Total equity capital
$2,758Total bank equity capital
$2,758Perpetual preferred stock
$0Common stock
$0Surplus
$2,700Undivided profits
Memoranda
$58Noncurrent loans and leases
$5,411Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$4,370Earning assets
$0Long-term assets (5+ years)
$372Average Assets, year-to-date
$88,429Average Assets, quarterly
$0Volatile liabilities
$108,264Insider loans
$101,442FHLB advances
$40,174Loans and leases held for sale
$876Unused loan commitments
$30,900Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,411Total unused commitments
$4,634Restructured Loans and leases
$738Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$5,177Total interest income
$2,094Total interest expense
$3,083Net interest income
$2,345Provision for loan and lease losses
$703Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$703Additional noninterest income
$4,458Total noninterest expense
$1,751Salaries and employee benefits
$734Premises and equipment expense
$1,973Additional noninterest expense
-$3,017Pre-tax net operating income
$43Securities gains (losses)
$0Applicable income taxes
-$2,974Income before extraordinary items
$0Extraordinary gains - net
-$2,974Net income attributable to bank
$0Net charge-offs
-$2,974Cash dividends
$2,325Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.28%Yield on earning assets
2.14%Cost of funding earning assets
3.14%Net interest margin
0.72%Noninterest income to earning assets
4.55%Noninterest expense to earning assets
-2.79%Net operating income to assets
-2.75%Return on assets (ROA)
-2.75%Pretax return on assets
-62.37%Return on equity (ROE)
-62.37%Retained earnings to average equity (YTD only)
2.62%Net charge-offs to loans
100.86%Credit loss provision to net charge-offs
-0.29%Efficiency ratio
113,629Assets per employee
2.91%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.47%Loss allowance to noncurrent loans
27.12%Noncurrent assets plus other real estate owned to assets
6.48%Noncurrent loans to loans
5.43%Net loans and leases to deposits
122.83%Net loans and leases to core deposits
142.91%Equity capital to assets
2.79%Core capital (leverage) ratio
2.23%Tier 1 risk-based capital ratio
3.72%Total risk-based capital ratio
Memoranda
$5Average assets
$108,264Average earning assets
$4,768Average equity
$98,053Average loans
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 Mainstreet Savings Bank, FSB.
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: