FDIC Certificate #: 10556 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:mBank (#14816) Federal Reserve ID: 139759 Date Established: January 01, 1903 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Interstate: No) OTS Docket #: 13693 FDIC's unique #: 6759 Numeric code: 21 Regulator: FDIC 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: January 01, 1934 Last Structure Change Effective Date: March 07, 1998 Last Structure Change Process Date: March 18, 1998 Last Data Update: March 21, 1998 Data Source Date: April 05, 2012
Location
Address: Trimountain Avenue, South Range, MI 49963 County: Houghton Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Appleton Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Central Core Based Statistical Area (CBSA): Houghton, MI (#26340) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $79.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
33Total employees (full-time equivalent)
$79,267Total assets
$3,231Cash and due from depository institutions
$0Interest-bearing balances
$1,851Securities
$1,805Federal funds sold & reverse repurchase agreements
$65,375Net loans & leases
$830Loan loss allowance
$0Trading account assets
$2,834Bank premises and fixed assets
$38Other real estate owned
$3,325Goodwill and other intangibles
$0Life insurance assets
$808All other assets
$79,267Total liabilities and capital
$70,510Total liabilities
$69,426Total deposits
$62,243Interest-bearing deposits
$69,426Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,084All other liabilities
$8,757Total equity capital
$8,757Total bank equity capital
$8,757Perpetual preferred stock
$0Common stock
$390Surplus
$7,610Undivided profits
Memoranda
$757Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,251Earning assets
$0Long-term assets (5+ years)
$439Average Assets, year-to-date
$69,031Average Assets, quarterly
$7,318Volatile liabilities
$72,977Insider loans
$79,819FHLB advances
$4,053Loans and leases held for sale
$1,052Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,270Total unused commitments
$0Restructured Loans and leases
$58,975Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$6,484Total interest income
$2,674Total interest expense
$3,810Net interest income
$400Provision for loan and lease losses
$437Total noninterest income
$0Fiduciary activities
$342Service charges on deposit accounts
$0Trading account gains & fees
$95Additional noninterest income
$3,015Total noninterest expense
$1,164Salaries and employee benefits
$373Premises and equipment expense
$1,478Additional noninterest expense
$832Pre-tax net operating income
$0Securities gains (losses)
$298Applicable income taxes
$534Income before extraordinary items
$0Extraordinary gains - net
$534Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$298Sale, conversion, retirement of capital stock, net
$1,158Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
10.22%Yield on earning assets
4.22%Cost of funding earning assets
6.01%Net interest margin
0.69%Noninterest income to earning assets
4.75%Noninterest expense to earning assets
0.73%Net operating income to assets
0.73%Return on assets (ROA)
1.14%Pretax return on assets
6.65%Return on equity (ROE)
-7.77%Retained earnings to average equity (YTD only)
0.49%Net charge-offs to loans
134.23%Credit loss provision to net charge-offs
4.13%Efficiency ratio
65,175Assets per employee
2.40%Cash dividends to net income (YTD only)
Condition Ratios (%)
216.85%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
66.35%Noncurrent assets plus other real estate owned to assets
1.63%Noncurrent loans to loans
1.89%Net loans and leases to deposits
94.17%Net loans and leases to core deposits
100.00%Equity capital to assets
11.05%Core capital (leverage) ratio
7.08%Tier 1 risk-based capital ratio
9.23%Total risk-based capital ratio
Memoranda
$10Average assets
$72,977Average earning assets
$8,027Average equity
$63,416Average loans
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