FDIC Certificate #: 34979 Status: Inactive Federal Reserve ID: 2728474 Date Established: July 01, 1999 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Interstate: No) FDIC's unique #: 62153 Numeric code: 13 Regulator: FED 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: July 01, 1999 Last Structure Change Effective Date: March 28, 2002 Last Structure Change Process Date: April 01, 2002 Last Data Update: April 01, 2002 Data Source Date: April 05, 2012
Location
Address: 46719 Hayes Road, Shelby Township, MI 48315 County: Macomb 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)
History of Changes
Financial Difficulty - Payoff
Corrections
Financial Summary
Total assets: $21.1 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2001)
Dollar figures in thousands
18Total employees (full-time equivalent)
$21,091Total assets
$325Cash and due from depository institutions
$0Interest-bearing balances
$49Securities
$1,895Federal funds sold & reverse repurchase agreements
$17,732Net loans & leases
$2,455Loan loss allowance
$0Trading account assets
$628Bank premises and fixed assets
$144Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$318All other assets
$21,091Total liabilities and capital
$21,106Total liabilities
$18,902Total deposits
$18,499Interest-bearing deposits
$18,902Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,860Other borrowed funds
$0Subordinated debt
$344All other liabilities
$-15Total equity capital
$-15Total bank equity capital
$-15Perpetual preferred stock
$0Common stock
$1,300Surplus
$10,940Undivided profits
Memoranda
$-12,255Noncurrent loans and leases
$60Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,556Earning assets
$0Long-term assets (5+ years)
$65Average Assets, year-to-date
$19,676Average Assets, quarterly
$1,941Volatile liabilities
$30,394Insider loans
$23,726FHLB advances
$4,085Loans and leases held for sale
$102Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$60Total unused commitments
$451Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$3,924Total interest income
$1,909Total interest expense
$2,015Net interest income
$3,979Provision for loan and lease losses
$386Total noninterest income
$0Fiduciary activities
$22Service charges on deposit accounts
$0Trading account gains & fees
$364Additional noninterest income
$3,420Total noninterest expense
$1,014Salaries and employee benefits
$697Premises and equipment expense
$1,709Additional noninterest expense
-$4,998Pre-tax net operating income
$10Securities gains (losses)
$0Applicable income taxes
-$4,988Income before extraordinary items
$0Extraordinary gains - net
-$4,988Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$2,321Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
13.68%Yield on earning assets
6.66%Cost of funding earning assets
7.03%Net interest margin
1.35%Noninterest income to earning assets
11.92%Noninterest expense to earning assets
-16.44%Net operating income to assets
-16.41%Return on assets (ROA)
-16.41%Pretax return on assets
-272.42%Return on equity (ROE)
-272.42%Retained earnings to average equity (YTD only)
8.95%Net charge-offs to loans
171.43%Credit loss provision to net charge-offs
-0.44%Efficiency ratio
142,441Assets per employee
1.17%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
12.16%Loss allowance to noncurrent loans
157.78%Noncurrent assets plus other real estate owned to assets
8.06%Noncurrent loans to loans
7.71%Net loans and leases to deposits
93.81%Net loans and leases to core deposits
119.67%Equity capital to assets
-0.07%Core capital (leverage) ratio
-0.06%Tier 1 risk-based capital ratio
-0.08%Total risk-based capital ratio
Memoranda
-$0Average assets
$30,394Average earning assets
$1,831Average equity
$28,681Average 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 New Century 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: