North Bank in Hale, Michigan (MI)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 12, 1996

North Bank in Hale, Michigan (MI)
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North Bank - Overview

General
FDIC Certificate #: 17080
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Independent Bank (#8180)
Federal Reserve ID: 856449
Date Established: Febuary 14, 1952
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Interstate: No)
OTS Docket #: 10732
FDIC's unique #: 11135
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: Febuary 14, 1952
Last Structure Change Effective Date: August 12, 1996
Last Structure Change Process Date: September 16, 1996
Last Data Update: September 16, 1996
Data Source Date: April 05, 2012
Location
Address: 114 North Washington Street, Hale, MI 48739
County: Iosco
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
Financial Summary
Total assets: $156.7 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)
$112Total assets
$152,773Cash and due from depository institutions
$5,461Interest-bearing balances
$20Securities
$48,806Federal funds sold & reverse repurchase agreements
$200Net loans & leases
$90,174Loan loss allowance
$988Trading account assets
$0Bank premises and fixed assets
$5,656Other real estate owned
$162Goodwill and other intangibles
$1,866Life insurance assets
$448All other assets
$0Total liabilities and capital
$152,773Total liabilities
$142,228Total deposits
$132,014Interest-bearing deposits
$113,954Deposits held in domestic offices
132014.00%% insured (estimated)
$96Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$9,000Subordinated debt
$0All other liabilities
$1,214Total equity capital
$1,214Total bank equity capital
$10,545Perpetual preferred stock
$0Common stock
$1,224Surplus
$5,757Undivided profits
Memoranda
$3,564Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$772Income earned, not collected on loans
$613Earning assets
$139,200Long-term assets (5+ years)
$50,918Average Assets, year-to-date
$156,217Average Assets, quarterly
$152,476Volatile liabilities
$3,757Insider loans
$224FHLB advances
$0Loans and leases held for sale
$2,186Unused loan commitments
$7,493Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$10,134Total risk weighted assets
$91,420Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$11,233Total interest expense
$5,384Net interest income
$5,849Provision for loan and lease losses
$307Total noninterest income
$1,647Fiduciary activities
$0Service charges on deposit accounts
$404Trading account gains & fees
$0Additional noninterest income
$1,243Total noninterest expense
$6,871Salaries and employee benefits
$3,512Premises and equipment expense
$1,205Additional noninterest expense
$2,154Pre-tax net operating income
$318Securities gains (losses)
-$111Applicable income taxes
-$114Income before extraordinary items
$321Extraordinary gains - net
$0Net income attributable to bank
$321Net charge-offs
$268Cash dividends
$294Sale, 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
8.04%Cost of funding earning assets
3.85%Net interest margin
4.19%Noninterest income to earning assets
1.18%Noninterest expense to earning assets
4.92%Net operating income to assets
0.28%Return on assets (ROA)
0.21%Pretax return on assets
0.13%Return on equity (ROE)
3.22%Retained earnings to average equity (YTD only)
0.27%Net charge-offs to loans
0.31%Credit loss provision to net charge-offs
114.55%Efficiency ratio
91,289Assets per employee
1.36%Cash dividends to net income (YTD only)
Condition Ratios (%)
91.59%Loss allowance to loans
1.08%Loss allowance to noncurrent loans
127.98%Noncurrent assets plus other real estate owned to assets
0.61%Noncurrent loans to loans
0.85%Net loans and leases to deposits
68.31%Net loans and leases to core deposits
70.31%Equity capital to assets
6.90%Core capital (leverage) ratio
6.57%Tier 1 risk-based capital ratio
11.09%Total risk-based capital ratio
Memoranda
$12Average assets
$156,217Average earning assets
$9,980Average equity
$139,699Average loans

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